The metaverse is a vision of what many in the computer industry believe is the next iteration of the internet: a single, shared, immersive, persistent, 3D virtual space .
where humans experience life in ways they could not in the physical world.
Metaverse" became a household word when Facebook rebranded its corporate identity to Meta in October 2021 and announced plans to invest at least $10 billion in the concept that year. In addition to Meta, tech giants including Google, Microsoft, Nvidia and Qualcomm are also investing billions of dollars in the concept. Management consultancy McKinsey & Company has bullishly predicted that the metaverse economy could reach $5 trillion by 2030. E-commerce is expected to be the dominant engine, with gaming, entertainment, education and marketing in the metaverse also becoming important sectors.
2. What is Metaverse
Metaverse is a virtually-reality space in which users can interact with a
computer–generated environment and other users.
The term metaverse was coined(strike) in Neal Stephenson's 1992 science fiction
novel Snow Crash.
A metaverse is not device-independent, nor owned by a single vendor. It is an
independent virtual economy, enabled by digital currencies and non-fungible
tokens (NFTs).
In Metaverse we will more focus on privacy.
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3. What we can do on Metaverse 3
1. Purchase and monetize real estate.
2. Create scenes, games, and other VR experiences.
3. Express yourself through customizable avatars.
4. Meet and collaborate with remote colleagues.
5. Socialize and make new friends.
6. Shop for real and virtual products.
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7. Attend concerts, trade shows, and learning events.
8. Play virtual reality games.
9. Sell in-game assets for cryptocurrency tokens.
10. Invest in digital artwork through NFTs.
11. Get a job in the metaverse.
12. Brainstorm and design products in 3D.
5. Mark Zuckerberg thoughts about Meta 5
Marks Zuckerberg , the CEO of the newly name Meta (formerly Facebook ),
estimates it could take five to 10 years before the key features of the
metaverse became the mainstream.
Aspects of metaverse currently exist . Ultra-fast broadband speeds , virtual
reality headsets
And per always-on online worlds are already up and running , even though
they may not be accessible to all.
6. What Meta has done yet:- 6
The tech giant formerly known as Facebook has already
made significant investments in virtual reality, including
the 2014 acquisition of Oculus. Meta envisions a virtual
world where digital avatars connect through work, travel
or entertainment using VR headsets.
7. Microsoft Mesh :- 7
• Mesh App for HoloLens
Connect with colleagues and co-create in real time as you share and annotate content that
persists between sessions.
HoloLens 2
11. Dark side Of Metaverse :-
1. Privacy Issues:-
For example, VR-headsets will include eye-tracking technology, so marketers and
advertisers could potentially see from our headset data where exactly we are looking
in our immersive experience, and for how long. This is a marketer’s dream, of course,
but is a major concern to anyone who is concerned about their privacy.
2. Protecting Our Kids:-
As parents, it’s already difficult to track what our kids are doing online, and that
challenge will continue with the metaverse. Understanding what our kids are doing in
the metaverse will be even more challenging, because we can’t see the world they’re
looking at in their VR headset, and there is no process in place for monitoring their
screens using tablets or phones.
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12. 3. Health Concerns :-
VR “hangovers” are a known phenomenon, and people can also experience post-VR
sadness. When we have experienced an amazingly immersive world and have to
come back into the real world, it can make us depressed and sad – and the more
incredible our immersive experiences become, the more people will struggle with
this.
4. Access Inequality:-
In order to use augmented reality, we need the latest smartphone and handset
technology, and VR experiences require high-tech, expensive headsets as well as
strong and reliable connectivity.
How can we make sure that everyone in the world has equal access to the
metaverse, and not just the people who have the most money and live in advanced
countries? We will need to come up with plans to increase access to the metaverse
as these immersive experiences become more and more important.
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13. 5. Metaverse Laws:-
Can a virtual act be a crime? The metaverse will bring regulatory challenges and will
introduce new gray areas in many laws.
For example, if you are in virtual reality and you are wearing a haptic suit, and someone
in the virtual world touches you without your permission, how is this different from an
assault in the real world? We will need to face these regulatory challenges as technology
advances and thorny legal issues emerge.
6. Desensitization :-
Many people will be playing violent games in VR, where you can touch and feel what
you’re doing. These immersive experiences will feel very real and could lead to people
becoming desensitized to their behaviors. In a game, if you are shooting a gun at
someone or strangling that person, I believe there is a real risk that people will become
more likely to replicate that behavior in the real world due to VR desensitization.
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14. 7. Identity Hacking :-
In the virtual world, we will be using avatars – and it will be possible for people
to hack our avatars and steal our online identities. If this happens, the hacker
could pretend to be you and could wreak havoc in your virtual and real worlds.
We must focus on security in the metaverse and find ways to verify identities
and avoid deepfakes, to reduce VR-related cybercrime.
Clearly, there are a lot of potential problems with the metaverse, and many
issues that we need to think through (and potentially regulate) as this
technology evolves.
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