The Metaverse is an imagined future internet that uses immersive virtual worlds. It combines virtual reality and enhanced reality. Although it isn’t yet available, the idea is that it will enable people to interact, work, play and learn in a single virtual environment.
Microsoft, Apple, Google and gaming companies like Epic Games and big retailers like Walmart all want to influence the development of the Metaverse and tap into lucrative virtual markets. Facebook famously renamed its company Meta to emphasize its commitment to the development of the next Metaverse.
What does Meta mean?
Metaverse is a combination of the words universe and meta. It was first used in Neal Stephenson’s 1992 science fiction novel Snowcrash. The term Metaverse was used in Neal Stephenson’s 1992 science fiction novel em>Snowcrash to describe an immersive virtual world where users could access it via goggles. There, avatars representing people could interact with each other in a realistic virtual environment.
The Metaverse, outside the realm of science fiction is a possible evolution of the internet that people could access via VR headsets and augmented reality. It also includes more traditional systems such as personal computers and smartphones.
The Metaverse is not based on the social-based web2 or the hypothetical decentralized web3 where the internet can be experienced through websites and allows for communication via services such as Discord and Zoom. Instead, it would be built around an immersive virtual world where users are represented through custom avatars.
What can you do in the Metaverse?
The Metaverse’s central concept is that it will let you dive into a virtual world with the help a VR headset. You can interact with strangers and friends, play virtual games, learn new things and shop for physical and virtual goods.
The Metaverse is a vast network of interactive 3D virtual worlds that you can move between for work, play and all other purposes.
Are You Ready to Experience the Meta Today?
Although the Metaverse isn’t yet here, many of its pieces exist in different forms. Some companies even use metaverses to describe their products.
Epic, for example, refers to Fortnite’s battle royale game as a metaverse because it allows players to interact through virtual avatars. It has also hosted crossovers with major media properties and even hosted virtual concerts. To create a safe metaverse for kids, Epic has partnered up with Lego.
VR Chat provides another glimpse into what it will be like to navigate the Metaverse of the future. This game allows users to create custom avatars and explore different virtual worlds. They can also interact with one another via VR headsets or a less immersive PC experience.
Similar experiences are offered by other games, such as Rec Room and Facebook Horizon Worlds, which allow you to interact with, socialize and play games with others through a VR interface.
What does the Metaverse have to do with VR headsets and Oculus Quests?
Because virtual reality allows for a more immersive experience, it is an important aspect of the Metaverse. Although it is possible to interact with the Metaverse via a variety of devices, such as phones and computers, the experience will be based on virtual reality and augmented reality.
Microsoft and Facebook have been driving forces behind the development and growth of the Metaverse. Facebook has a significant stake in virtual reality.
Although the Oculus Quest or Meta Quest doesn’t provide access to the Metaverse at the moment, it will in the future. However, it is an example for low-cost standalone VR hardware that will enable Facebook to realize its vision of the Metaverse.
The Oculus Quest allows you to feel the thrill of interacting with a virtual world in a virtual setting while you wait for the Metaverse to arrive. You can use the Oculus Quest to explore Facebook’s Horizon Worlds, as well as a range of virtual experiences.
- How can I invest in the Metaverse
Metaverse stocks, metaverse and cryptocurrencies can all be purchased.
- How can I purchase property in the metaverse
You can purchase virtual property via a metaverse platform such as Decentraland or The Sandbox. As a transfer of NFTs, purchases are made using cryptocurrencies.
- How can I make money in Metaverse?
You can create 3D assets for others, create VR games, organise events with tickets paid, rent or sell property, all in order to make money within the metaverse.