Get Ready for Metaverse — The Internet of The Future
You must have heard of Metaverse recently in one way or another. Maybe you heard of Mark Zuckerberg betting Facebook’s future on Metaverse and taking it over. Perhaps, it’s the future of the internet. Or maybe it’s gonna be our next universe.
Whatever it is, we’re gonna have a detailed view of all these theories to see what truth lies in them. It’s time to jump in and figure all this out.
Metaverse — What Does It Mean?
The term Metaverse is actually a fictional term of two words “meta” and “universe” and it is known to have the first reference in Neal Stephenson’s 1992 novel named “Snow Crash” where it represented a 3D virtual world of avatars.
Now, let’s come towards the fun part. Metaverse actually refers to shared virtual worlds with virtual elements where one can do different things virtually. It consists of different virtual lands, buildings, avatars and so much more. You can wander here with friends, have brunches, play games, attend events and do so much more.
Moreover, the virtual objects of the Metaverse could be bought and sold as well. This is basically done through cryptocurrencies.
This trend has majorly sparked during these pandemic times where everything, from workplaces to communities, has shifted to online mode. Virtual worlds are popularizing more and more and it seems that this is the near future of the Internet.
What Part Do Blockchain and NFTs Play Here?
The concept of Metaverse is majorly based on the blockchain decentralized technology and NFTs (Non-fungible Tokens). Most of the platforms in the virtual worlds are built via blockchain along with cryptocurrencies and NFTs.
In case you don’t know, blockchain is a decentralized distributed network that is transparent and is the base technology behind digital currencies like Bitcoin, Ethereum, Solana, and so on. NFTs are digital/virtual pieces of art with unique identities that cannot be changed, all thanks to blockchain.
So, two types of Metaverse platforms are defined. In the first, a virtual universe is built using blockchain and NFTs. You can buy virtual land using cryptocurrencies and build your own environments.
In the second, you can go into the virtual world, wander around, have lunches, have business meet-ups and so much more.
Facebook and Metaverse
Most people would know Metaverse through Facebook as the social media giant announced in July this year about having a Metaverse. Describing Metaverse, Facebook stated,
The Metaverse is a set of virtual spaces where you can create and explore with other people who aren’t in the same physical space as you
Facebook’s CEO Mark Zuckerberg also added that Metaverse is not a single product that one company can build alone and just like the internet, the Metaverse exists whether there is Facebook or not.
Bottom Line — Is It The Future?
In a single word, Yes. Although the full potential of Metaverse is unclear, the involvement of big tech giants like Facebook, Google, and Microsoft in VR/AR technologies and Metaverse is a sign of good hope and a bright future. So, let’s hope for the best.