What is the Metaverse? Is it a virtual world? Another type of XR or just a sci-fi idea? We spend much of our time discussing and looking at the current state of the metaverse. Sometimes we forget that not everybody is as familiar with the concept as we are. So we decided to introduce the idea of the metaverse to help people understand more about the future of technology.
Looking to the Future
Talking about the metaverse today is similar to how people talked about the internet in the 80s. People were excited about this new idea, discussed the possibilities, and speculated on how it would look or do, but very few understood what it was. But it turned out to be one of the most significant advancements in the history of the world.
The metaverse is tipped to become a market worth $800 billion by 2024. With plenty of tech giants like Apple, Google, and Microsoft already investing (Facebook are so heavily into it. They’ve changed its name to Meta!), history may be repeating itself.
The word “metaverse” originally came from a 1992 sci-fi novel, Snow Crash. In the book, author Neal Stephenson referred to the metaverse as an all-encompassing digital world parallel to the real world. Today’s concept of the metaverse might not be so different.
But what is the Metaverse?
The metaverse can be looked at as a 3D version of the internet and computing. The technologies companies refer to when discussing the metaverse include virtual and augmented reality. But you aren’t restricted only to accessing those spaces through VR and AR. We already have virtual worlds like Fortnite and Roblox that define themselves as metaverses and can be entered through PCs, consoles, and mobile phones.
Tech giants like Microsoft and Meta are working on tech to facilitate interacting with metaverses – virtual worlds- but they’re not the only ones. Many other large and small companies are building the infrastructure to create better virtual worlds replicating our environments.
One of our interest areas and great potential is the possibility of making the metaverse a place where you can create, buy, and sell commodities. An environment where people can become creators and investors in virtual goods and be fairly compensated for what they have to offer, whether it be art, clothes, cars, or anything else.
Metaverse is the Future
The metaverse can be described as a network of 3D virtual worlds focusing on social connection and interaction.
We aim to be the leading destination for discovering and purchasing virtual goods for the metaverse. From slippers to spaceships, you can have it all!
Given the projections, the metaverse is tipped to be a major player in growing the digital economy, which is the primary growth of the world economy at present.
The metaverse is the future of entertainment, fashion, gaming, and education, so it’s best to be prepared!