Anyone interested in the crypto industry, an online crypto exchange, and crypto news knows about the “Metaverse.” It is a huge world, a new reality. But what does this mean? Will it have the impact it represents on the future of the digital world? Or is it a concept that quickly becomes popular and is quickly forgotten?
What is Metaverse?
The Metaverse is neither virtual reality nor the Matrix world, derived from the same name’s film frame. Instead, it is a virtual space where everyone can exist, live, and work. Of course, today, technology has not yet grown to such a great extent. But the concept has been developed, and the IT giants of the world are already competing for this right.
When many interest groups say “Metaverse,” it often refers to Meta’s recent ambitious rebranding of the company, formerly known as Facebook. On October 28, 2021, Facebook announced a brand name change and realignment, demonstrating a renewed interest in creating an AR and VR-based Meta universe. It aims to bring people closer in an online environment and enable connections like never before.
Step into a New Future
The basis of the Metaverse is the improvement of human interaction. As we evolve into more technologically advanced, we inevitably have to pay attention to who we are connected to, the world, and the people around us. Metaverse perfectly embodies this concept.
- Imagine an educational Metaverse where you can meet and interact with your teacher as if you were in class from home. Imagine taking part in a meeting without getting up from the couch, changing your avatar without changing clothes, and sitting at a virtual table with others who can evaluate your reaction and body language the way it would be in reality. The Metaverse will probably make all these fantasies a reality.
- There are many other answers to what this new concept brings to the cryptocurrency world. Crypto is not only about exchanging BTC to BCH and buying Ethereum. With the advent of non-fungible tokens (NFTs), the Metaverse is creating new forms of brand promotion. Since it is possible to address the corporate brand through the sale and purchase of land, posters, and logos, it is possible to arouse customers’ interest and renew it.
- Businesses can also benefit from the Metaverse in many ways. Hosting events, creating transitions between websites, and communicating with the user community has never been easy. Businesses can engage consumers in a way that has never been possible before.
- Since AR and VR are already highly developed and these tech giants already have a lot of money, this vision has hardly any creative limits.
Conclusion
Facebook says the Metaverse formation’s vision may take five to ten years. This is quite a big gap. It will take years to build a Metaverse infrastructure, not to mention introduce best practices and create interoperability between platforms.
Still, Metaverse is no longer a science fiction term. It is already rumored to have the potential to change everyday life as the next big event in the digital age. It is reasonable to expect that the Metaverse will significantly impact future developments. We will see later whether it succeeds in monopolizing the digital future and the transition processes to the digital world. Given the decades of preparation, it is safe to say that the Metaverse is here forever.
The biggest advantage of this concept is that there are no restrictions on size and creativity, and users can easily move around the same large digital universe with thousands of other people.
