In 1992, Audiences poured into Neil Stephenson’s sci-fi dystopia which envisioned a world, post an economic collapse, in which computer viruses are physical entities, the U.S. government has sold off states to private corporations, and humans now live in gated communities, receiving all their necessities without having to lift a finger. The book also introduced a concept of a perfect virtual world known as the Metaverse: A perfectly symmetrical planet owned by a massive corporation that sells virtual real estate to its users. Fast forward 30 years into the future and here we are. The world Neil envisioned for us, all those years ago, is now a reality.
Facebook’s announcement in October that it was further embracing the metaverse and rebranding itself as Meta set off a firestorm. While experts say the metaverse is still many years away, the explosion of the term has many asking, what is the metaverse? The metaverse aims to innovate the way people interact with each other on the internet, interacting in a way previously only thought possible in science fiction.
Technologies like virtual reality, a computer-generated simulation of a 3D image or environment, and augmented reality, superimposing a computer-generated image on a user’s view of the real world, will play a significant role in bringing the metaverse to life.
The metaverse could potentially use virtual reality, or augmented reality as we know it now, to immerse users in an alternate world. The technology is still being developed, but companies like Meta say they are building and improving these devices. Meta’s Oculus Quest, now in its second model, is one such device.
When you’re in the metaverse, when you’re in a virtual reality headset, you will feel like you’re actually sitting in a room with someone else who can see you, who can see all of your nonverbal gestures, who you can respond to and mimic. What’s happening now is the metaverse for social media without gaming. The new metaverse is designed to support any type of social interaction, whether that’s hanging out with your friends or having a business meeting.
The possibilities of a virtual world, where everything is supported by lines of codes, could open new revenue streams for companies diving into this new venture. The opportunities are limitless, and based on how Americans have adopted an increasingly digital life, the change is already taking place. Walmart announced earlier this month it would step into the virtual world, providing currency and allowing customers to buy and sell NFTs.
The efforts required to make that world a reality, however, could be extensive. Many people in the U.S. still don’t have access to high-speed broadband connections, and the price of reliable VR hardware could be high. But for Maini, he said the hardware is becoming more affordable and accessible as new technologies are developed.
With the speed at which technologies are being developed and companies are implementing innovative ideas around immersive reality, it’s only a matter of time before the metaverse becomes a reality.
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