Hello there! I am Avil Clasico, a digital reporter from Vezaverse TV!
The term metaverse is fast becoming a buzzword in tech and business. Chances are you’ve already experienced it without realizing it. Hint Roloblox? Second Life? 🙂
Metaverse’s vision is starting to become a reality, with multiple companies working on various projects or building platforms for third parties. Metaverse ETP has seen its price soar over recent months thanks in part to big announcements like Japanese bank Nomura developing an Ethereum-based bond using metaverse trade our platform!
Facebook recently renamed its Oculus division to Facebook Reality Labs and looking to make metaverse technology a primary part of their hardware and software products.
These few examples show why metaverse is becoming so popular, and the impact they could have on our future world.
So, let’s take a look at what is metaverse and how it works.
Background
The term “metaverse,” coined by Neal Stephenson in his 1992 science fiction novel “Snow Crash,” refers to as a successor to the Internet, constitutes his vision of how a digital reality based Internet might evolve in the near future. The Metaverse, which resembles an MMO (massive multi-player online game), is populated by avatars who meet in realistic 3D buildings and other virtual reality environments.
So, what exactly a metaverse?
Essentially, Metaverse is a new generation of decentralized digital reality environment or metaverse – a successor to today’s Internet. It combines elements of social media, virtual reality (VR), augmented reality (AR), online gaming, and cryptocurrencies. It allow users to create their own avatars with its unique wallet where you they store and trade assets, content such as images or videos.
What exactly users be able to do in the metaverse?
Like now users are able too get together with friends, family members, work, play or shop but in a more realistic 3D environment, represented in a digital versions of themselves, avatars, using virtual reality headsets, AR glasses, smartphones or other devices.
Blockchain technology is a critical part of the solution, enabling creation of digital products with decentralized ledger, providing security and transparency of all transactions between trading partners
With a technology getting more affordable, it’s only a matter of time before metaverse becomes common place for everyone around the world. Users be able to conduct a lot of things that they do in real life such as transfer of money, buying items, create contracts with others, conduct business meetings and so on.
Is metaverse available now?
Yes it is. Metaverse is not a totally new concept. Many metaverse experiences already exists today. One of the most notable one is Second Life, launched by Linden Lab in 2003. It’s a multi-player digital world like the metaverse in which people can play, do business, and communicate. Other include Roblox and Fortnite by Epic games.
According to Mark Zuckerberg, the CEO of Meta, formerly Facebook, estimates it could take around 5 to 10 years before metaverse become mainstream.
Which companies are investing in the metaverse?
Meta Platforms, Inc. (MVRS)
Meta Platforms Inc, formerly known as Facebook acquired Oculus, a company which produces virtual reality headsets, including the Oculus Rift and Oculus Quest lines in 2014. Meta envisions the metaverse as “the next evolution of social connection”. Its vision is to bring the metaverse mainstream. As the commitment to its vision, it renamed its company name to Meta.
Microsoft (MSFT)
Microsoft’s answer to metaverse is the HoloLens, an augmented reality headset with a transparent display and Xbox gaming consoles. In addition,
In 2021, Microsoft announced Mesh for Microsoft Teams, an augmented reality platform for businesses.
Nvidia Corp. (NVDA)
Nvidia is also creating its own metaverse platform, called Nvidia Omniverse. Nvidia Omniverse is a platform for combining 3D worlds and building an integrated virtual universe. The Omniverse may be utilized for a variety of commercial purposes, such as design coordination and simulation of real-world architecture, as well as training robots.
Unity Software Inc. (U)
Unity is a major player in the creation of real-time 3D content, which can be used for a variety of purposes, including gaming and AR/VR devices.
Roblox Corp. (RBLX)
Roblox is a multi-player game and entertainment platform, developed by Roblox Corp. Roblox provides its own digital currency and a wide range of unique virtual experiences, such as a live digital concert by Lil Nas X in 2020. It also allows other developers create and integrate their own games into the Roblox metaverse, which will lead to further growth.
Amazon.com Inc. (AMZN)
Amazon is an online online shopping platform leader is also seen as a potential player in the metaverse. In a recent blog post, the company discussed digital try-ons, virtual pop-up shops, and a virtual avatar economy as examples of innovations that are revolutionizing the retail industry.
Autodesk Inc. (ADSK)
Autodesl offers a suite of products developed specifically for creating virtual reality and augmented reality 3D animations and structures.
MetaVerse Foundation (MVF)
The MetaVerse is a new blockchain project that aims to bring together the worlds of gaming and crypto through one digital metaverse. The MVF intends to provide players with an ecosystem where they can earn income while playing their favorite games like Pokemon GO or Fortnite. Users who play these online games would be able to earn money via in-game transactions on platforms such as Twitch or Youtube Gaming; earning double rewards by completing tasks using this unique wallet for gamers called META Pay, all made possible by metaverses great features including mvf coins earned from game mining activities within the metaverse platform, allowing users full
What is the future of the metaverse?
The future of metaverse is looking bright. Many consider metaverse as a third technology breakthrough after internet and iPhone.
The metaverse plans to allow users to enjoy the metaverse ecosystem while experiencing their favorite virtual worlds like Fortnite or Pokemon GO; earning double rewards by completing tasks using this unique wallet for gamers called META Pay.
Those companies or individuals that successfully embrace and secure their place in this creative digital world will have a huge potential for growth.
I hope you have found this information helpful! And if you like this video and would like to stay tuned to more metaverse updates, bookmark our website, vezoversetv.com for more metaverse news and updates!
My name is Avil Clasico, a digital reporter from Vezaverse TV! Currently based Vezoverse City, Vezoverse.