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VIDYABHARATI TRUST COLLEGE OF
BUSINESS
COMPUTER-SCIENCE & RESEARCH
SEMINAR ON : METAVERSE
PRESENTED BY : HALPATI DIVYESH NANUBHAI
EXAM SEAT NO : 4030
STUDENT ID : 21BCA184
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AGENDA
1. INTRODUCTION
2. HISTORY
3. HOW IT WORK ?
4. USES
5. EXAMPLE
6. FEATURES
7. ADVANTAGES
8. DISADVANTAGES
9. COMPARISON
10. CONCLUSION
11. REFERENCES
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INTRODUCTION
Imagine a virtual world where billions of people live, work, shop, learn
and interact with each other -- all from the comfort of their couches in
the physical world.
In this world, the computer screens we use today to connect to a
worldwide web of information have become portals to a 3D virtual
realm that's palpable -- like real life, only bigger and better. Digital
facsimiles of ourselves, or avatars, move freely from one experience
to another, taking our identities and our money with us.
This is known as the metaverse and, hype notwithstanding, it does
not exist today.
What are enterprise leaders to make of a fast-evolving, hyped-up
concept could fundamentally change how humans live? TechTarget's
in-depth guide to the metaverse breaks down where this nascent
technology revolution stands today and where it is headed. Topics
include the technologies and platforms that support the metaverse,
its benefits and challenges, how to invest in it, its history, why the
metaverse is important and its impact on the future of work.
Throughout the guide, there are hyperlinks to in-depth explorations of
these and other relevant topics, as well as to definitions of important
concepts in the metaverse such as interoperability, digital twins,
spatial computing and Web 3.0.
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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.
Some of the technologies that provide access to this virtual world,
such as virtual reality (VR) headsets and augmented reality (AR)
glasses, are evolving quickly; other critical components of the
metaverse, such as adequate bandwidth or interoperability standards,
are probably years off or might never materialize.
The concept is not new: The term metaverse was coined in 1992 by
author Neal Stephenson in his sci-fi novel Snow Crash, and work on
the technologies that underpin a virtual reality-based internet date
back decades.
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HOW DOES IT WORK ?
Because the metaverse is largely unbuilt, there is little agreement on
how it will work.
Broadly speaking, however, the metaverse is a digital ecosystem
built on various kinds of 3D technology, real-time collaboration
software and blockchain-based decentralized finance tools.
Factors such as the degree of interoperability among virtual worlds,
data portability, governance and user interfaces will depend on how
the metaverse pans out.
Lauren Lubetsky, senior manager at Bain & Company, speaking in a
session on the metaverse at the 2022 MIT Platform Strategy Summit,
outlined three possible scenarios:
The metaverse remains a domain of niche applications, used
by consumers for entertainment and gaming but stopping well
short of an all-encompassing virtual reality.
The metaverse is controlled by large competing ecosystems --
for example, Apple and Android meta worlds -- with limited
interoperability.
The metaverse is a dynamic, open and interoperable space,
much like the internet but in 3D.
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USES
How is the metaverse uses ?
Two technologies considered important to the development and
growth of the metaverse are virtual reality and augmented reality:
Virtual reality is a simulated 3D environment that enables users
to interact with a virtual surrounding in a way that approximates
reality as perceived through our senses. This approximation of
reality is now typically accessed through a VR headset that takes
over a user's field of vision. Haptics, including gloves, vests and
even full-body tracking suits, enable more lifelike interaction with
the virtual environment.
Augmented reality is less immersive than VR. It adds digital
overlays on top of the real world via a lens of some type. Users
can still interact with their real-world environment. The game
Pokémon Go is an early example of AR. Google Glass and
heads-up displays in car windshields are well-known consumer
AR products.
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Whether VR and AR experiences turn out to be the primary
interfaces of the metaverse remains to be seen, Gartner senior
principal analyst Tuong H. Nguyen told Lawton, adding that what we
have now are precursors or pre-metaverse solutions.
At present, many of the metaverse-like experiences offered by
gaming platforms such as Roblox, Decentraland and Minecraft can
be accessed through browsers or mobile devices and a fast internet
connection.
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EXAMPLE
Decentraland: Decentraland is a blockchain-based virtual
social environment. It’s used to build, trade, earn money, and
explore virtual worlds. It’s essentially a digital ledger that
permanently records bitcoin transactions across a network of
computers and serves as the foundation for the universe of
Decentraland. It provides exceptional opportunities for both
studying and enjoying virtual experiences. Decentraland can be
used to conduct meetings and trade in marketplaces for virtual
goods, among other things. As in real life, interacting with other
members is simple.
The Sandbox: It is a 3D virtual world hosted on the Ethereum
blockchain where people may interact, build things, and make
money. Numerous devices, including Windows phones and
smartphones, are supported by Sandbox. With new virtual
experiences, it provides people with chances for money-making.
It is not inexpensive to use, though. To make this possible,
SandBox has developed its SAND coin based on Ethereum.
One can pay gas expenses on the Ethereum network can be
paid with SAND tokens.
Bloktopia: Bloktopia uses virtual reality to provide users with
an immersive experience. It is a 21-story virtual structure
representing the 21 million Bitcoins currently in use. With new
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virtual experiences, it provides a variety of revenue-generating
potential. People can design their avatars, participate in
numerous activities, learn about cryptocurrencies, and purchase
virtual “real estate” in the tower. Using the platform’s builder tool,
you can also utilize this real estate to make artwork, games,
sequences, and other things.
Meta Horizon Worlds: Users can socialize, have business
meetings, explore the virtual environment, participate in virtual
activities, and play games on Horizon Worlds. One of Meta’s VR
social apps is Horizon Worlds. In the Horizon universe,
blockchain technology is not utilized. It features functional VR
building blocks, such as code blocks, music, and animation
effects, that aid content developers in addition to navigable VR
settings. As a test platform for virtual explorers with an invite-
only policy, Facebook (now Meta Platforms Inc.) first debuted
Horizons in August 2020.
Metahero: The Metahero project offers practical technology
that lets users scan actual objects and move them into the
Metaverse rather than a virtual realm. It focuses on bringing
physical artifacts into the digital world utilizing ultra-HD
photogrammetric scanning technologies. With their 3D avatars,
users can use Metahero as a portal to explore the NFT, social
media, fashion, and other aspects of the Metaverse. Metahero
creates ultrahigh-definition avatars from real-world things,
including people.
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Features
1. Incorporation of avatars
Creating digital avatars of oneself as a way to express one’s
emotions and feelings uniquely is one of the core concepts of the
Metaverse. Each person has their own digital identity, which can be
static or animated and is distinctive to them. Digital avatars are a
unique way to express oneself since, in addition to being precise
reproductions of your actual form, they may also be recreations of
your favorite celebrities or something completely original.
The concept of gamification is introduced when users have the
chance to modify their avatars, creating a more engaging and
dynamic experience.
Avatars can frequently be altered and can resemble their users’ real-
life counterparts in some way. Avatars can occasionally also be
computer applications. With the help of keyboards, joysticks, mice
and specialized human-computer interfacing (HCI) devices, users
may operate their avatars. More lifelike avatars might give viewers or
anyone interacting with them a more immersive experience.
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2. Blockchain-based operations
Blockchain allows consumers to safeguard their virtual assets and
gives them digital proof of ownership, making it a crucial component
of the Metaverse. The Metaverse is experiencing a growth in data
volume, value, and significance of security and
dependability. Blockchain skills and technology are necessary to
ensure data validity in the Metaverse, and artificial intelligence is
employed to protect its diversity and wealth of material.
Due to the numerous drawbacks of centralized data storage in
systems like database management systems (DBMS), the Metaverse
concept is incomplete without blockchain. Without the influence of a
centralized organization, the blockchain-based Metaverse enables
access to any digital place.
3. The use of virtual land (parcels)
The demand for virtual land on the Metaverse is soaring. On the
Metaverse, land can be purchased by anybody for cryptocurrencies.
The land is a non-fungible token (NFT), a blockchain asset class that
one cannot trade for other things. Size refers to the fundamental
number of pixels in a plot of Metaverse real estate.
Digital storefronts, virtual gaming, or even entertainment can be
interacted with on virtual land. Its size and location will determine the
use cases for the land. For instance, plots near a VR street may be
worthwhile because of the potential for display advertisements.
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4. Immersive Experiences (AR and VR)
Participants in the Metaverse will be able to have more immersive
experiences that converge reality and the virtual world by utilizing
mixed reality and AR/VR technologies. It is simple to understand why
the Metaverse is becoming increasingly popular with each passing
day: this will bring games to life, concerts and plays, and professional
or educational encounters to seem more authentic.
The main building blocks of Metaverse projects are AR and VR.
Three key components are required for augmented reality systems to
function: the connectivity of actual and virtual environments, real-time
interaction, and accurate 3D object rendering.
5. Intersection with artificial intelligence (AI)
As the driving force behind corporate research in fields including
content analysis, self-supervised speech processing, robotic
interactions, computer vision, and whole-body posture estimation, AI
is crucial to the Metaverse.
The business applications of the Metaverse can be delivered using AI
in several different ways. AIOps, a subfield of AI, employs machine
learning to assist companies in managing their IT infrastructure –
which will soon apply to Metaverse systems. Further, AI-powered
chatbots are becoming more and more common among
organizations. In the Metaverse, AI bots with lifelike avatars can be
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employed for various purposes, including sales, marketing, and
customer support.
6. Decentralized Autonomous Organizations (DAOs) for
governance
A DAO is a governance body – like a council or a committee – that
uses blockchain and smart contracts to reach a consensus for
various decisions. According to DAO governance guidelines, the
Treasury Wallet offers money for farming across several networks.
To ensure that everyone in the organization has the opportunity to
participate in the governance process, all decisions in DAOs continue
to be governed by proposals and voting processes. The procedure is
vital for assisting participants in casting ballots on significant
decisions on managing Metaverse resources.
7. Reliance on Human-Computer Interface (HCI) technology
The massive online computer platform known as Metaverse
comprises many diverse platforms, devices, and individual users on a
big scale. The use of HCI in creating the Metaverse — specifically,
how to integrate user activities into the virtual world — is crucial to
attaining this objective.
In order to take part in specific activities, a human and a computer
exchange information through a process called HCI. The most crucial
benefit of human-computer interaction is that it aids groups needing
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formal training and information on how to connect with computing
systems.
8. A focus on social interactions
Humans communicate and interact in the Metaverse through avatars
and visual representations of a user. Users can engage and
converse both with the Metaverse and with other users. The setting
for these exchanges is cyberspace, which serves as a representation
of the real world.
But there are differences between the economic and physical
limitations of actual locations. One can imagine our physical
experiences in the real world merging into one virtual environment.
People shall be able to navigate the limitless world with the aid of this
holistic experience that will combine all of these disparate encounters.
9. Supporting Web3
The idea behind Web3 is to usher in a new era of the internet. It is
the progression of user ownership and control over their online
material, digital assets, and online personas. Web3 and the
Metaverse technologies work in perfect harmony with one another.
Web3 may provide the foundation for connectivity in the Metaverse
because the Metaverse is a virtual environment and prefers a
decentralized web.
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ADVANTAGES
➨
Metaverse is massively scaled and interoperable network of
multiple virtual worlds used by unlimited number of users.
➨
It creates more demand for goods and services and hence helps in
creation of jobs for developers, designers and creators.
➨
Metaverse requires heavy processing and huge demands of data.
This creates demand for semiconductors and sensors in headsets
such as Ultrasonic sensor, infrared sensor, force sensor, strain
sensor, motion sensor etc.
➨
Individual technologies used in metaverse will become efficient in
their own domains. This delivers better results and opportunities for
all the stakeholders.
➨
It provides boost to e-commerce and virtual economy. Customers
can interact with merchants and merchandises. Cryptocurrencies and
NFTs will become more popular and their usage will increase.
➨
Metaverse upgrades social media platforms such as facebook and
twitter.
➨
Metaverse is compatible with blockchain technology. Hence it can
be used for several applications with the help of digital currencies.
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DISADVANTAGES
➨
It requires faster and reliable internet connection with the help of
fiber based connection and 5G wireless network.
➨
VR or MR headsets are essential requirements of the metaverse to
provide real immersion experience to the users. These headsets are
very expensive and it is difficult to afford by average users. It will take
some time for it to become affordable by common users.
➨
Metaverse requires access to relevant digital tools. Hence poor
families and communities will not enjoy its benefits until they are
available at affordable rates.
➨
There is a huge disparity between real world and virtual world. This
often leads to psychological disorders to the users such as stress,
trauma etc.
➨
VR/MR headsets give headache, if worn for longer duration (~ 30
minutes). Moreover it gives strain to eyes and motion sickness to the
user.
➨
The headset devices are heavy in weight.
➨
Metaverse leads to privacy threat and data theft due to internet use.
➨
People leave in actual world and it takes time for them to become
accustomed to the new virtual worlds to get benefits of the metaverse.
➨
Present AR/MR headsets are less competitive compare to mobile
phones.
➨
Animation quality offered at this moment is not so good and it will
take sometime for it to become popular.
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COMPARISON
1. Artificial Intelligence (AI)
Artificial Intelligence is working hard behind the scenes to make the
Metaverse a more immersive experience for its users. AI technology
helps improve algorithms that help with certain tasks such as avatar
creation, Natural Language Processing (NLP), translation, and world
generation. It also improves the ways that we interact in VR, as AI
pays special attention to sensors that measure our bioelectrical and
muscular patterns.
When most people hear the term Artificial Intelligence, the first thing
they usually think of is robots. That's because big-budget movies and
novels weave stories about human-like machines wreaking havoc on
Earth, but nothing could be further from the truth.
AI is based on the principle that human intelligence can be defined in
such a way that the machine can easily mimic it and execute simple
to complex tasks.
2. Virtual & Augmented Reality (VR/AR)
Virtual & Augmented Reality (VR/AR) form the backbone of the
Metaverse. In the future, the Metaverse could expand beyond VR
and encompass more futuristic technologies. While VR/AR provides
customers with an immersing shopping experience when shopping
online, the Metaverse can improve on this technology by fully
immersing you in a virtual representation of the store in VR.
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The combined market for VR/AR is projected to reach US$31.12
billion in 2023. The revenue shows an annual growth rate (CAGR
2023-2027) of 13.72%, resulting in a projected market volume of
US$52.05 billion by 2027. The market's largest segment is AR
software with a market volume of US$11.58 billion in 2023 with a
projected market volume of US$8,568.00 million in 2023, most of the
revenue is generated in the United States and the number of users is
expected to amount to 2,593.00 million users by 2027. The average
revenue per user (ARPU) is expected to amount to US $14.08 [13].
AR enables embedding virtual objects into the real physical world.
For instance, the Facebook Metaverse may be accessible through
AR glasses, VR headsets, and in certain restricted ways through
desktop and mobile applications.
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CONCLUSION
The metaverse has been defined as a massively scalable and
interoperable network of real-time rendered three-dimensional
virtual worlds that can be experienced simultaneously and
persistently by an essentially infinite number of users with a
sense of personal presence and continuity of data, including
identity, history, entitlements, objects, communications, and
payments.
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THIS IS JUST VIRTUAL
WORLD AND OUR
REAL WORLD
IS BETTER THAN THIS.
THANK YOU
