Welcome back to another series of blogs by Rucha Yantra. This time, we have a really exciting and trending topic to share with you. Metaverse. Everyone’s got it on their minds, right? Let’s start then.
Any technological revolution alters the boundaries of our reality. But, not in one go. It happens gradually over a period of time. It start only with the inventors who apply the new tech in a confined environment for specific complex applications. But, as the tech grows, investors and entrepreneurs who are ready to take the risks, take it to the broader audience and apply the tech for simpler everyday applications. That’s when the technology really takes off. Metaverse is following the same trajectory.
Let’s rewind for a bit. The Internet during its inception in the USA in the 1970s was one such idea that was limited to a specialized group of academics and defence force personnel. While the idea was deemed revolutionary from the very beginning, it took decades to come to full wide-scale acceptance. Just like the Internet in its early years, Metaverse, too, sounds like a fad currently. However, there is no doubt – given the ongoing developments worldwide – that it is destined to be a paradigm upending innovation that will change as the way we live.
But, what exactly is the Metaverse?
The Metaverse, in the simplest words, serves as a digital landscape (digital version) for people to work, brainstorm, meet, play or shop. It is a network of 3D virtual worlds that mimic the real world and foster social connection digitally.
Asking what the Metaverse can do is akin to asking what the internet can do. The opportunities and possibilities are endless. The only limits are human creativity and ambition. Its growth and breadth of expansion shall depend on the degree to which the common public can integrate it into their daily lives.
The technologies underpinning Metaverse
Many people wrongly believe that the Metaverse has been invented by the company Meta, till very recently popular as Facebook. This is not correct. Yes, Metaverse has made it into the popular imagination in a big way after Meta launched it, however, Metaverses, in a sense, have been operational in video games such as Fortnite and Second Life long before Meta unveiled it.
However, we must note that the video games only partially share their DNA with the Metaverse. Powered by virtual reality, the video game stops when you switch off your console. However, the Metaverse will continue to exist even when one as a participant opts to log out giving the Metaverse permanency and specificity that resembles real life.
Metaverse will also include augmented reality technology which projects virtual elements in real life. Moreover, all the transactions in the Metaverse shall be facilitated by blockchain. Thus, these three technologies shall contribute majorly toward creating metaverses.
All in all, the Metaverse promises to be an immersive experience that will witness exponential upgrades as companies like Microsoft, Meta, Accenture put their energies and capital behind this initiative.
Ask what the Metaverse can do for you
- Facebook’s founder Mark Zuckerberg showcased Horizon workrooms in 2021 which allows those in the Metaverse to cohabit in a digital office environment from anywhere in the world.
- In May last year, PwC designed what it calls “Virtual Parks” which allows participants to craft their own avatars, walk around, socialise and be part of larger social events all from the comfort of their couches.
- In 2020, right before the pandemic broke, IT firm Accenture created a Metaverse of its own called the Nth floor using which Accenture employees can attend presentations, network and be a part of training sessions without moving an inch out of their homes.
Be it running a company, recruiting new talent, networking, dating, socialising or just hanging out with friends and family, all this and more is possible in the Metaverse. We have barely scratched the surface when it comes to discovering the endless possibilities on offer in the Metaverse.
How to access the Metaverse?
There are a number of Metaverses like Decentraland or Sandbox that are really popular with the small yet budding community of Metaversers. In case you want to take a full leap into this virtual world and start buying or selling goods, you would need a crypto wallet and a Windows PC. In case, you just want to dip your toes and only get a limited experience, then you can do so as well by logging in as a guest.
However, this kind of experience won’t be the real deal. A truly immersive experience is guaranteed if one uses virtual reality headsets or augmented reality glasses.
Indeed, there’s a lot of buzz around about Metaverse right now. But, what’s really exciting is the way Metaverse can impact us and provide value to us. And, without a doubt, that day is not far away. Until then, Rucha Yantra shall keep you updated about the developments.
Stay tuned to our Knowledge Corner.