How are you confronted by the prospect of the #Metaverse? Do you find it exciting or are you skeptical about its potential? Is a digital world of decentralized data in the reckoning? We explore the Metaverse at face value and find some answers going beyond its unprecedented hype. As we are embracing an intersection of the physical and digital worlds, is the lofty vision of full-fledged communities in the digital world possible? Watch episode 5 on the Web3 Webinar with Shaan Ray, Head of Web3 Partnerships.
For more information on Web3 and its wide-ranging potential, read https://www.ionixxtech.com/solution/web3-blockchain-solutions
3. About Us
About the Speaker
Shaan Ray is a technology researcher and Web 3 specialist who helps organizations
unleash the power of emerging tech in reshaping their business goals.
Under his mentorship, companies embrace transformative solutions to tap new
markets and fresh customer segments.
Shaan specializes in Web3 and emerging tech.
We are a technology company with a design-first approach that helps forward-looking Startups and Enterprise Firms with:
● Web3 solutions
● FinTech solutions
● & HealthTech solutions
We do this through Cloud-enablement, Enterprise agility, UX Design and other cutting-edge web and mobile
technologies.
4. Defining The Metaverse
▪ The Metaverse is the sum of all shared, persistent
virtual spaces. It is the totality of all the digital and
virtual worlds as well as digital assets and the data on
the entire internet.
5. Merging the Digital with the
Physical
▪ Metaverse programs will enrich the physical world around
us by filling it with information and making use cases
available at our fingertips.
▪ The Metaverse Platform Shift
▪ AR applications in the Metaverse will enable users to choose
from several layers which can be projected onto their
current surroundings.
▪ We’ve had to go to our devices to access the internet and
the information on it, but the metaverse combined with AR,
VR, and MR will allow applications to take information
about locations and things and digitally place them into the
physical world where it is relevant.
6. Merging the Digital with the
Physical
▪ We’ll be able to interact with this information layer through
augmented reality or virtual reality devices
▪ Users will be able to experience the internet all around
them using connected devices whenever and wherever
they like.
▪ It will include all digital and virtual worlds as well as all of
the data within these worlds
7. Metaverse Characteristics
The Metaverse is a concept that is still evolving but it has
some common characteristics. Some recognizable
characteristics of the Metaverse are:
▪ The worlds and digital assets in the metaverse are live and
constantly available. If a user logs on it doesn’t mean the
digital world in that area gets shut off, it just means the
user has logged out of that world and it will be available
whenever they decide to back in.
▪ Interoperability will be built into many of the digital assets
and information in the Metaverse. This means the assets
and information will be available and interchangeable
across different digital worlds and environments.
▪ The Metaverse will be able to host experiences and
content that is available to the users on it to access
whenever they like.
8. Metaverse Characteristics
▪ It will be able to host audiences of any size. Meaning the
system will have enough bandwidth to offer an audience of
any size at any given time.
▪ The Metaverse will be accessible using multiple different
physical devices and ISP providers. An example of this is a
popular website like google is available to users regardless of
which device and ISP provider they are using.
▪ There will be a fully functioning economy on the Metaverse.
There will most likely be fully functioning economies on
numerous applications and layers of the Metaverse.
▪ It will consist of a complex network of different platforms,
applications, and digital worlds.
9. Technology Stack of the Metaverse
▪ In order to stream high-quality stream data and content in
real-time applications within the Metaverse, it will lean on
strong 5G & 6G networks.
▪ Access Devices that support Augmented Reality, Virtual
Reality & Mixed Reality viewing will be necessary to properly
experience all of the applications on the Metaverse.
▪ A wide set of protocols and languages will underlie the
applications and content delivery mechanisms within the
Metaverse.
▪ Secure Cryptocurrencies with minimal transaction fees will
enable on-platform instantly auditable peer-to-peer
transactions.
10. Technology Stack of the
Metaverse
▪ The ownership of digital assets and virtual items in the
Metaverse will be easy to verify and trade using NFTs (non-
fungible tokens) and the underlying secured blockchain
platforms, NFTs will also change the way digital rights of
assets and content are licensed and distributed.
▪ Smart Contracts will allow users to create and execute
complex transactions with service providers and other users
within the virtual worlds.
○ Smart contracts will also be used by application
providers within the network to manage their
contracts and relationships with other vendors and
users.
▪ Blockchain layer for security and Digital Currencies
11. Technology Stack of the
Metaverse
▪ In order to allow millions of people to attend a particular live
event in a given digital location at the same time in the
metaverse some issues related to server capacity and latency
might arise. Developers are likely to use a technique called
Sharding to work around this problem.
▪ Sharding creates batches of users and assigns each batch a
unique digital venue. The live event can then be broadcast to
each batch simultaneously. In practice, this would enable
millions of users to attend the event together and be part of a
similar shared experience without overloading the digital
architecture of the system. Sharding is a database architecture
pattern that helps spread the digital load, you can learn more
about it here.
12. Culture Within The Metaverse
▪ Much like how many subcultures have developed in games
like World of Warcraft or GTA V, communities in the
applications games and platforms within the Metaverse will
develop numerous subcultures as well.
▪ Cultures will develop around applications, interest groups, use
cases, geography, and purpose.
13. The Economy Within the
Metaverse
▪ Virtual economies exist across several applications today.
Within the Metaverse, larger and more connected virtual
economies will exist.
▪ Activities as diverse as world-building, charity, concerts,
fashion, shopping, advertising, education, politics and
activism will find a place in the Metaverse.
▪ A lot of the applications will offer cryptocurrencies and peer-
to-peer transactions as mediums of payment between their
users.
14. Conclusion
▪ The Metaverse is the next frontier for online interaction
which will unlock a new generation of apps, platforms
and use cases. It will redefine the digital space.
▪ Organizations that take the time to understand and
adapt their digital strategies to properly engage with the
Metaverse will be at an advantage.
15. How We Can Help
Here are some ways in which we can help you create and
manage Metaverse Solutions:
● Metaverse Advisory services
○ platform choice
○ translate logic and processes into code
● Create the checks and measures your project requires
● Create the right set of smart contracts for your project
● Integrate on-chain and off-chain oracles to your smart
contracts
● Audit and test your code
● Provide design side support for your project
● Help you create and launch the tokens for your project
● Launch your project live on a live platform
● Test interoperability of your application
16. Get in Touch
Email: shaan.ray@ionixxtech.com
Web: www.ionixxtech.com
Telegram: @shaanray
LinkedIn: https://linkedin.com/in/shaanray
Twitter: https://twitter.com/shaanray
Questions
What Is The Metaverse?