The Metaverse is a digital space that is closely related to the real world and is a volumetric imitation of it. The metaverse offers users a virtual version of life. Communicate, learn, work, open businesses, test concept cars, have sex, go to concerts, get married, buy real estate, invest in decentralized finance, and earn money.
By using AR and VR technologies, a person, immersed in the life of the metaworld, experiences the whole gamut of sensations: visual, auditory and kinesthetic.
According to analysts, it will take 10-15 years to create the first full-fledged metaverse.
The largest corporations are working on the development of the concept
Last summer, the topic of the metaverse was at the top of search queries. It happened when Mark Zuckerberg announced the launch of his own online galaxy. Already in October, Facebook changed its name to Meta, thus confirming its intentions.
Google and Apple are already developing their own metaverses. In 2021, Microsoft joined the race by introducing the Mesh collaboration space. In it, holographic clones of the group members interact with each other in digital interiors.
According to Bloomberg analysts, the virtual worlds market will grow to $800 billion by 2024, while Epic Games predicts trillions.
What will the metaverse bring to companies?
The meta-universe offers limitless possibilities for transferring businesses from the real world to the virtual one. After all, all the products or services that users come into contact with in everyday life can be transferred to a “new version of life”.
The corporate sector has already begun integrating with the metaworld. Companies are now willing to spend anywhere from $150,000 to $1.7 million just for a consultation on how to organise an event in the game space.
Connection of metaverses and cryptocurrencies
According to cryptocurrency experts, the concept of metaverses is one of the major trends in the cryptocurrency market as well. Augmented reality gadgets and new AR and VR technologies will ensure the connection of digital objects with material ones.
And what will connect the virtual economy with the real economy? This is where blockchain enters the arena as the optimal financial link. Thanks to its decentralised nature, it is possible to gain full control over the value acquired in the metaverse, which will be expressed in cryptocurrencies or NFTs. This value will be easy to transfer from one world to another due to blockchain interoperability. Projects based on the Play-to-Earn algorithm are an example of the successful implementation of this vision: in-game currency can be exchanged for fiat in them.
One way or another, the concept of metaverses has already become a direction of technological progress. And it’s obvious that metaverses will not only provide a lot of opportunities, but will also pose serious challenges to humanity.
For now, all we have to do is to watch.
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