What Is The Metaverse?

The metaverse is a virtual world where you can live a synchronous life through your avatar. Think of it as a game but instead of bringing down mob bosses and zombies, you’ll be engaging in real-life activities. 

These activities could include attending meetings, catching up with friends, attending music festivals, going door to door selling digital collectables, or buying and selling land, apartments, assets, and more.

Truth is, the possibilities are endless as, at its core, the metaverse is dubbed

What Is The Metaverse?

The metaverse is a virtual world where you can live a synchronous life through your avatar. Think of it as a game but instead of bringing down mob bosses and zombies, you’ll be engaging in real-life activities. 

These activities could include attending meetings, catching up with friends, attending music festivals, going door to door selling digital collectables, or buying and selling land, apartments, assets, and more.

Truth is, the possibilities are endless as, at its core, the metaverse is dubbed as a convenient solution for real-world problems. This also has the potential to bridge the gap between the offline and online world.

All of this is made possible through evolving technology like:

• VR Headsets: wearable tech that lets you live inside a universe (metaverse) and interact with its elements
• Augmented Reality: virtual objects and elements placed in the real world (for example, Pokemon Go)
• Holograms: images that are beamed from a device with persons or objects seeming present and moving in real-time
  

At this point, the most interesting question to ask would be where and how the term metaverse emerged. Turns out, the origin story of metaverse the word is just as interesting as the concept itself! You can consult a Cube Wealth coach or download a Cube Wealth app.

What Is The Origin Of Metaverse?

Believe it or not, the term metaverse originated back in 1992 courtesy of writer Neal Stephenson. In his novel “Snow Crash”, Stephenson explains the metaverse as a virtual place where people interact with digital avatars. 

The novel basically combines “meta” and “universe” to arrive at the term “metaverse”. But the evolution of the meaning and scope of the metaverse didn’t stop in 1992.

After that, virtual interactive worlds or early metaverses have been introduced primarily in video games with releases like Second Life, The Sims, and more recently with GTA V, Fortnite, and others. 

Another representation of the metaverse in pop culture is the central plot of the movie, “Ready Player One”. Currently, the metaverse is being turned into a reality by a handful of companies.

Which Companies Are Working On The Metaverse?

There are anywhere between 10 to 100+ companies currently building a version or feature of the metaverse. We’ve listed down some of these companies (in no particular order).

Are The Metaverse And Web 3 The Same Thing?

It’d be easy to confuse the metaverse with Web3 because of the fully digital nature of cryptocurrencies, NFTs, and others. But that’s not the best way to look at the metaverse because of two reasons:

• It’s still at the ideation stage - we don’t know what the metaverse would look or feel like
• It doesn’t necessarily solve the deficiencies of Web 2 like decentralized blockchain technology does
  

That said, cryptocurrencies, NFTs, and NFT gaming may have an important part to play within the metaverse given their ability to ensure privacy, trust, and above all, decentralization in a virtual environment. 

What Are The Concerns Surrounding The Metaverse?

The fact that the metaverse is a very, very nascent concept with extremely wide possibilities poses philosophical concerns. For example, human interaction will be reduced to avatars in a virtual world. 

Continuous digitization has been known to reduce empathy among humans. This virtual metaverse world, seen to be devoid of social cues and regular human emotions, may open the door to even less empathy. 

Apart from subjective philosophical concerns, there are concrete issues emerging from existing, real-world problems. The top three of these are listed below.

What Is The Future Of The Metaverse?

The metaverse can be explained as a bridge between the virtual and the real world. It is one of the most exciting concepts that could become a reality in the 21st century, but it is currently forward-looking. 

The idea is currently being shaped by various companies in conjunction with Web 3 technologies like cryptocurrencies and NFTs that can encourage a creator economy on the metaverse. 

All in all, the metaverse has given rise to endless possibilities for work and play. But the coming decade will tell whether it’s truly revolutionary or a Web 2 monopoly transferred into virtual reality. 

FAQs About The Metaverse

Conclusion

To sum up, the metaverse concept signifies an intriguing and swiftly progressing digital frontier that stretches the limits of human interaction, creativity, and technology. Within this virtual realm, individuals can effortlessly explore, socialize, innovate, and even engage in commerce, effectively erasing the boundaries separating the physical from the digital realm. Although the metaverse notion has been prominently featured in science fiction and championed by technology industry leaders, it is steadily transitioning into an actuality, fueled by progress in virtual and augmented reality. You can consult a Cube Wealth coach or download a Cube Wealth app.

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Note: Facts & figures are true as of 23-12-2021. None of the information shared here is to be construed as investment advice. Exercise caution when investing in unregulated assets like cryptocurrency.

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