Metaverse Explained

Metaverse

Metaverse is the most hyped word on the internet nowadays.

It was first coined in 1992 by a sci-fi nobel writer Neal Stephenson to describe a 3D world.

Once it was science fiction but nowadays it is getting closer to reality due to advancement in various tech sectors like Blockchain technology, Augmented reality and Virtual reality.

What is Metaverse?

Metaverse is a virtual universe simulated by different computing hardwares, where human beings and artificial intelligence characters coexist. 

In the metaverse we can play different games, hang out with friends, make official meetings and visit art galleries. We don’t really enter the metaverse; rather our 3D avatar’s controlled by us enter this immersive world and then we interact with others via avatars. 

Metaverse Presence 

Question here is whether the metaverse is already present or it’s merely a hypothesis?

Answer is ‘yes’ it is already present but in its initial stage, it has a long journey to go. VR games like Roblox, Sandbox, decentraland are some of the rough examples of metaverse.

True concept of metaverse is of decentralisation means not in the control of a single tech firm or government organization but should be controlled, designed and created by its users.

At present many big tech’s are developing their own form of metaverse. Recently social media platform facebook has launched ‘Horizon’ , Microsoft, Google and many other big tech companies are also progressive in this field.

Metaverse Future 

Two decade ago there were  no social media platforms but with the advent of time and technology their number has increased from no to many.

Nowadays most of us spend a major part of time on these social media platforms. So the metaverse is in that ‘two decade ago’ state soon it is going to take the internet by storm.

At present you can take metaverse early exposure on various gaming platforms like sandbox, roblox etc.

Real Estate Growth  on Metaverse

On Metaverse real estate is  a booming industry. There are many metaverse platforms dealing in real estate. Sandbox, Decentraland, Cryptovoxels and Somnium are some of them. On the Metaverse unit of land is Parcel, you can buy or sell parcels of land on their respective websites or from different marketplaces like ‘opensea’ using cryptocurrency.