Metaverse: What is it and How Will it Change the Tech World in the Future?
Today’s most talked-about tech topic is the metaverse. Since Facebook’s rebranding as Meta, there has been a rush of discussion about what a connected digital world entails, how it will feel, and who will build it.
Recently, Microsoft also joined the metaverse party with the release of Mesh for Microsoft Teams. It will include quasi-metaverse functionality into its popular video collaboration platform.
More and more people have started to pay attention and invest billions of dollars to build it. Whereas, tech tycoons are already calling metaverse “the future of the internet.”
But what is the metaverse, exactly? What impact will the metaverse have on the tech world? These are the topics that I will talk about today.
What is the Metaverse?
Metaverse combines many technology features such as video, augmented reality (AR), and virtual reality (VR), that allow users to exist in a digital world. In simple words, it’s like stepping into the world of the internet.
What’s more? The concept is based on the idea that users can work, play, and connect with others in a variety of settings such as work/entertainment events, conferences, etc.
As interesting as it sounds, you won’t just watch a video. Instead, you’ll be in the video walking around and interacting with others using your hands. Additionally, Facebook (Meta) is now experimenting on a means for you to interact with something in the metaverse simply by thinking about it. The technique is known as Electromyography (EMG), and it’s already used in medicine.
When in the metaverse, you’ll exist as an avatar. The avatars look close to what Facebook began using in 2020. These avatars will soon look even more realistic and identical to real-life people.
You can also dress and accessorize your avatar by spending real money. The entire metaverse is built on blockchain technology. So, the possessions you own or create are wholly yours. No one can steal or copy it. In short, you sell and buy everything using various types of cryptocurrencies.
The metaverse will also incorporate augmented reality in later stages. Using AR glasses, you’ll be able to see “holographic images” of the metaverse against the background of the actual world.
Many metaverses established by different companies exist today. The future goal is to link all of them together. By doing so, you’ll be able to smoothly transfer your avatar and assets from one metaverse to the other.
What Impact will the Metaverse have on the Tech World?
Now that you know what metaverse is, let’s move towards how will it impact the world in the not-too-distant future?
Fusion of E-commerce and Brick-and-Mortar
Undoubtedly, e-commerce has gained a lot of popularity, especially during the COVID-19 lockdowns. I know it’s hard to imagine a life without online shopping today. From clothes, appliances, food, to houses, you can buy everything online. Besides, when you visit an e-commerce store, you get access to product photos and videos to choose from.
But what difference will it make in the world of metaverse? With a fusion between e-commerce and brick-and-mortar shopping, companies are looking forward to building their physical stores in the metaverse.
As a result, you can walk in any of the stores, demo, and buy things you like. You’ll receive the products you buy in the real world. You’ll be greeted by another actual human avatar. Whereas, things you buy for your avatar will exist only in the metaverse.
The Rise of Cryptocurrency
The best and the cheapest way to buy products in the metaverse is by using cryptocurrency. Every metaverse now has its cryptocurrency. It allows users to travel freely and buy regardless of geo-political borders. With your cryptocurrency wallet in tow, you can buy without having to pay international conversion or transaction fees.
It also serves as a great investment opportunity as the cryptocurrency’s value fluctuates with the popularity of each metaverse. The more popular the metaverse, the more the value of your crypto within that metaverse.
Making Video Calls a Reality
Videos are an integral part of our lives now. They help us stay connected with our families/friends even when they are not physically around. COVID-19 lockdowns have particularly highlighted the importance of video calls.
Soon there will be various 3D virtual areas in the metaverse where you can meet your family and friends. Moreover, technology will progress to the point where it won’t appear too different from meeting in person. Imagination is the limit. So, it might even be more interesting than real-life scenarios.
Hosting Business Meetings Inside the Metaverse
COVID-19 saw a shift in a work culture that is unlikely to return to pre-transition levels. Online meetings have become the new norm as many people realize meeting in person is no longer compulsory for their jobs.
Even Bill Gates anticipates that within a few years, almost every business meeting will take place in the metaverse. So, instead of spending thousands of dollars on travel and stays, you can do everything via face-to-face meetings within the metaverse.
Raising the E-learning Industry to New Heights
Apart from business meetings and videos calls, the metaverse also has a huge benefit for the e-learning industry. Not only will students have access to presentations and slideshows, but also to virtual pens and keyboards.
Moreover, students will also be able to ask questions, write something on the board, or partner with other students to work on a project. All of this will take place within the metaverse’s classroom.
To Conclude
Nowadays, everything in the world is done through the internet. Society would most likely collapse if the internet disappeared one day. The bottom line is that the metaverse will impact the bulk of people in the coming years. It is already making profound changes to our world and it will continue to do so.
So, let us hope that the benefits it brings outweigh the disruption it causes. If you like what you read, stay connected because there will be a lot more coming your way.