How Does Metaverse Work?

23 Jun 2022
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The concept of the metaverse has been around for over three decades but ever since the tech CEOs like Satya Nadela and Mark Zuckerberg talked about it, the metaverse is the next future of the internet, it becomes the most trendy topic suddenly. Last year, Facebook's CEO rebranded it & announced it as Meta. Also stated that Facebook will be the biggest part of the metaverse.

Just imagine a virtual world where you can meet your friends like in real, play games like you are in that situation, shop like you are visiting that store- all the comforting things you are doing physically in the world. Metaverse will just give a smooth virtual experience so that you can connect with whatever you want from any corner of the globe.

Metaverse is the next evolution of the internet where with the help of advanced technologies like augmented reality, virtual reality, mixed reality, artificial intelligence & blockchain you can build online communities, play games, and conduct business meetings via a digital form or avatar of people.

What You Will be Able to Do in Metaverse?

Metaverse is not a new concept at all. It is already existing on several online video gaming platforms like Roblox, Fortnite & Minecraft. But the two tech giants Facebook & Microsoft are using the fullest potential & possibilities of the metaverse.

In the metaverse, people will in the future communicate via their individual avatars which will make them feel more present in real than in traditional video conferences. The ultimate goal of the metaverse is to bring people together in a virtual world. Through metaverse, users are able to do things like- virtual shopping, meetings, trips, leisure activities, real estate & many more. In the pandemic situation, we have come across one popular phenomenon “Work From Home”.

With the advanced technology of metaverse, people will be able to join in a virtual office instead of a physical office. According to Mark Zuckerberg, a lot of things are going to happen through teleport from one experience to another. In the metaverse world, people instead of viewing virtual content can actually be in that virtual world.

Metaverse According to Meta

Mark Zuckerberg, CEO of Meta said that “the best way to understand the metaverse is to experience it yourself, but it's a little tough because it doesn't fully exist yet." According to him, the metaverse is an immersive & embodied internet where users will be able to get almost everything anyone can imagine.

Now, the question is what would you require to enter metaverse? Well, you would most likely wear augmented reality glasses or virtual reality headsets. Meta CEO said, “When you play a game with your friends, you’ll feel like you’re right there together in a different world, not just on your computer by yourself.”

Many people said that, if you practically own cryptocurrency, virtual reality headsets, or non-fungible token (NFT) you are already a part of the metaverse world. In the metaverse, technologies like Web3, and blockchain have a huge impact on owning any digital identity. Blockchain solutions like NFTs can help to store & locate practical property or applications in metaverse space. It helps to secure transactions of digital assets & ensures consistency between various metaverse platforms. In near future, we are about to witness a return of the transactional business model.

While you are using social media channels, you have username or profile pictures to display your identity. But in metaverse space, you will be represented by a virtual figure or avatar which can speak in your tone, can move the body as you are moving your body parts & perform actions through headsets.

• Every single user will have their own virtual world where they can have properties & items during online sessions.

• Metaverse will allow users to sell & buy real state or virtual properties as they do with physical property. Buying or selling virtual properties will work through NFTs & cryptocurrencies. Users will use non-fungible tokens to purchase digital goods in a decentralized way. Now, two of the popular metaverse cryptocurrencies are- Decentraland (CRYPTO: MANA) and The Sandbox (CRYPTO: SAND), which can be used in their respective metaverse games

• As every user will have their single virtual world, metaverse will allow them to make their own virtual property or content.

• One of the biggest advantages of the metaverse is the telepresence via AR & VR. Most people can see this as the last stage of owning a metaverse. Through AR & VR, you are able to feel a sense of reality together with other avatars anywhere in the virtual world. As Meta CEO said, "It'll feel like you're right in the room together making eye contact, having a shared sense of space, and not just looking at a grid of faces on a screen,".

If I talk about the current implementation of the metaverse, I have to mention Facebook horizon, launched by Facebook which is actually a VR world. Alongside, organizations & tech companies are already started making use of metaverse to enhance work productivity.

Royex Metaverse is a leading Metaverse App Development Company in Dubai, UAE. We are at the forefront of adopting and developing the next generation of Internet technology - Metaverse. With leading Metaverse App development services and solutions, we can help you uncover new possibilities! Our Metaverse App Services and solutions let you create dynamic and realistic virtual worlds and real-world environments for better business collaboration.

 

The book "Metaverse - The Future Is Here" is the definitive guide to learning about the emerging technology Metaverse. You will find in-depth information on the origins of the Metaverse, its evolution, how we can access it, the different Metverse platforms available, and the technologies powering it; apart from the basics, the book also elaborates on how businesses can enter the Metaverse, various marketing strategies, its use cases for various industries, social and legal implications, and discusses what Metaverse in the future will look like.

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What Does Neal Stephenson Say About The Future Of The Metaverse?

In a recent podcast of a16z, the famous author Neal Stephenson shared some insight about his new venture Lamina1- a creator-blockchain-based open metaverse. This platform aims to fuse Web3 smart contracts into creator tools so that content creators can be rewarded for producing experiences that people will pay for. The author has also shared that recent metaverse platforms aim to provide a diverse range of experiences that actually different from his early imagination.

Best Metaverse Platforms To Invest In 2023

For enterprises & businesses, it will be the biggest challenge to introduce their venture on various metaverse platforms. Evaluating the existing metaverse platforms can help us understand how the metaverse can be a frontier & revolutionize the future of digital services and solutions. There are many reasons enterprises should keep an eye on the top metaverse platforms. This article will discuss some best metaverse platforms and explore the features & potential benefits of investing in metaverse-based projects.

Use Cases Of Metaverse In Social Media

Because Metaverse is growing so quickly, integrating it into social media will provide users access to distinctive products, expand the online community, and ultimately monetise the opportunity. The Metaverse would be able to provide a social networking site with safer data protection policies, AR/VR capabilities, encrypted transfer mechanisms, and smart contracts to ensure rules and guidelines are followed by everyone.

Use Cases Of Metaverse In Virtual Real Estate

Users have a place to meet online through metaverse real estate. People can play games and socialize on their digital property. Creators can monetize their property's content by imposing access fees or engaging in NFT trading. Brands can use their virtual properties for advertising services, organising virtual product launches, and providing unique customer experiences. In fact, there is a wide range of possible uses for metaverse real estate.

Use Cases Of Metaverse In Creative Arts And Design

What metaverse design needs are creatives who can enhance metaverses to be more appealing by focusing on how people navigate digital space organically. In other words, the metaverse requires creatives who can first grasp how people behave and move in real space and transfer those principles to the metaverse.

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