How Metaverse Will Change the World
Hold on, most people aren’t even familiar with the term “metaverse.” The phrase metaverse is a mash-up; Meta comes from Greek and means “next” or “beyond,” so metaverse signifies the next universe or beyond the universe. Here’s a little context, plus some Metaverse 101 tossed in for good measure. Neal Stephenson wrote the science fiction book Snow Crash in 1992. He refers to the metaverse in the book as a “all-encompassing digital environment” that exists in a separate realm from the one we are familiar with as our everyday physical reality. Another way to think of the metaverse is as the Internet as we know and love it today, but in three dimensions. It’s a virtual world that we can explore as unique avatars and then interact with other avatars in. That sounds a little strange, doesn’t it? But whether you’re ready for it or not, the metaverse is coming. And once the metaverse is operational, it will have an impact on every aspect of our existence. Now is not the time to avoid what will eventually happen. The concept of the metaverse is no longer restricted to science fiction. It already exists and is just growing. In the following five ways, the metaverse will alter the universe.
01- A Digital Reality’s Strong Call
A person can experience their dream reality when they don virtual reality goggles and enter a digital world of their own design. Virtual reality will have more alternatives and chances to live your goals than the physical reality we are currently living in. It will become so real that people may not want to return to physical reality, or if they do, they won’t want to stay there for very long. At some time, different digital worlds will be able to communicate with one another.
However, the issue of digital sovereignty must be resolved first. Who will govern the metaverse and establish its rules for participation? Should we even care? Facebook’s name has recently been changed to Meta by Mark Zukerberg. He was practically setting up shop in the metaverse by doing this. This is comparable to the time when explorers staked claims to the north and south poles by planting flags there. To obtain a piece of the metaverse pie, Google, Microsoft, and Apple are also interested. In order to draw in a large audience, it is imperative to build an improved user experience.
02- Movement and Interaction in the Metaverse
If you’ve always wanted to travel but never had the chance, you can do it in the metaverse where you can go anywhere, meet interesting new people, and even interact with them and the local environment. Time and space won’t be able to hold you back anymore. If you need to travel for work, you could move between rooms in the metaverse to travel from Singapore to Australia and then on to London. You’ll even be able to socialise in the metaverse. Of course, you’ll need to pay for travel and other services, so that’s where cryptocurrencies like Bitcoin will come into play. You will be able to meet up in the metaverse whether you want to get together with friends from across town or meet a friend for coffee at a cafe while you are in Seattle and your friend is in Paris. Online dating will actually happen online. Say goodbye to Tinder, Zoom, and Skype and hello to the metaverse!
03- Restructuring the World Economy
By 2025, the market value of the metaverse is anticipated to be somewhere around 800 billion dollars. The majority of the world’s riches, according to true believers in the metaverse, will eventually be contained there. People are already investing in it. Buying virtual real estate is one of the ways people invest. It is comparable to purchasing domain names. Virtual real estate operates in a similar manner to domain name investing. Investors buy domain names, assign a price tag to them, and then wait for someone to come along who will spend hundreds or thousands of dollars for that domain. If you get started with this type of real estate investing early, you could eventually become very wealthy.
04- The Contemporary Entertainment
The entertainment sector suffered severe losses as a result of the Covid epidemic. Popular TV shows were shortened and concerts were postponed, but a new method of presenting performances arose. Rapper Travis Scott is a featured performer in a digital reality concert. More people attended his concert than the 20 biggest concerts of all time combined, with 27 million people entering the virtual reality event as individual avatars. In the metaverse, attendees to the concert may buy skins for their unique avatars and other kinds of digital goods. Travis Scott reportedly made $20 million from just one show alone, but it doesn’t stop there. What about visiting a zoo? You might opt to be an animal or just observe them. Enter a theme park in the metaverse if you enjoy riding roller coasters, and ride all you want. Feel the rush without getting sick from too much cotton candy.
Give a read to: What is the Virtual Reality of Metaverse
05- Get inside, loser; we’re going meta-shopping
In the metaverse, shopping will be possible. You may shop for clothing through your avatar, have it mailed to your real-world address, and then try it on. You are aware of what this entails. No more sobbing in the changing room because the pair of jeans you tried on won’t zip up. Or, let’s assume you’re looking for house furnishings. Before you decide to buy the item and have it delivered to your physical location, you can place it in your virtual reality home in the metaverse to see how it appears.