Recently, the term metaverse has been gaining attention globally.
We live in a 3D world, but we’re constantly being introduced to new and revolutionary ideas from various industries across the globe. Although many products and concepts continue to draw our attention, one of them is known as a Metaverse.
A Metaverse is an alternative universe consisting of digital spaces accessed using virtual reality headsets or any device with access to cyberspace.
In simpler terms, think of it as a real-life version of Second Life or World of Warcraft, except without an avatar because you’ll be living out your life as yourself.
Here’s an essential guide to Metaverse and its possibilities.
What is a Metaverse?
A metaverse is a network of virtual worlds linked by social connections. The network can be defined as augmented reality (AR), virtual reality (VR), and a blockchain-based simulated digital environment.
In short, a metaverse is a collaborative virtual space created by the convergence of virtually enhanced physical reality and physically persistent virtual space, including the sum of all virtual worlds, augmented reality, and the internet.
Neal Stephenson coined the term Metaverse in his science fiction novel Snow Crash. It derives from ‘metaphysical,’ meaning beyond physics (as opposed to physical).
What can you do in the Metaverse?
The Metaverse is a vast virtual reality universe, and all of its worlds are in 3D.
When you enter a specific world, you have complete control over what happens, and it’s your choice whether you want to see things or meet people.
The first thing that usually comes up when visiting another world is how dangerous it can be if I’m floating around without a body?
Although we’re not there yet, VR developers are working hard on creating an avatar with which everyone will be able to identify themselves fully.
That way, it’ll feel like you are walking through a city.
Beyond that, Metaverse will make it possible to hold e-meetings with your colleagues in a virtual space rather than see only one another’s faces onscreen as with existing video calling apps.
Shopping in the Metaverse will allow consumers to “try on” virtual clothing and appliances before they buy the products, reducing product returns caused by ill-fitting clothing and misrepresented products, enabling shoppers to examine objects from all angles before making a purchase.
Metaverse will take VR gaming to the next level by using blockchain technology. Players can fully operate in the virtual world using their avatar, earning rewards too.
What does privacy mean in Metaverse?
The first thing that comes to mind when you hear privacy is anonymity, or rather not be known.
But in terms of Metaverse, there are many more elements that go into it.
Metaverse aims for privacy in all aspects of life, but let’s start with security since it ties closely with confidentiality.
Digital identity theft, physical theft, and many other common concerns that happen today can be solved on Metaverse by creating a digitally secured world.
For instance, if I have physical access to your house and wallet, I could steal your credit card information and use it for my gains.
In Metaverse, however, we would need to hack into a decentralized network (which is foolproof), and even then, you could have an encrypted password which makes hacking virtually impossible.
This is just one example; there are many others, such as medical records, which could be stored safely without anyone knowing about them unless permitted by you.
As far as anonymity goes, no one will know who created an account until they choose to share their real-life information through social media links or give out their username within another website/forum/etc.,
So people don’t need to worry about having their identities stolen from using Metaverse.
Gaming in the Metaverse
Every new social platform and digital world has faced skepticism, but when Second Life was launched back in 2003, there was an especially notable wave of criticism.
VR has long been a subject of interest for video game developers—Minecraft, Second Life, and other early immersive games incorporated elements of what might one day become the Metaverse, including 3D avatars, world-building, and observation as gameplay.
In a Metaverse, users will be able to customize their virtual environment experience by adding to it, creating their content within the space, and building sub-games on top of a central platform game.
The Metaverse is inherently social, which sets it apart from the traditional solitary VR experience.
In multiplayer games, players will be able to forge relationships with others using the Metaverse and interact with others in different dimensions.
Besides following a linear story and abiding by specific rules, gamers can engage in other profitable activities in a Metaverse. For example, they might be able to sell the assets they have won inside the game to other users for cryptocurrency.
Is it safe to use as a platform?
The Metaverse platform is a three-dimensional (3D) environment that allows users to create virtual worlds and socialize with other users.
It also allows businesses to get a foothold in virtual reality or VR while still in infancy.
Metaverse is considered safe by most security experts; however, you should still be vigilant about keeping your information secure.
When selecting an avatar for yourself on any platform – whether 3D or not – you should avoid giving away identifying information such as your phone number or address.
And although it’s tempting to share photos of your new home on Facebook that were taken within a VR game, remember that there are ways for bad actors to find out where you live through sophisticated coding.
AR, VR, MR & The Metaverse
VR on its can transport you somewhere else, AR enhances your current reality by inserting new things into it, and MR blurs these lines altogether, so they both become one.
A Metaverse combines the elements of Augmented Reality (AR), Virtual Reality (VR), and Mixed Reality (MR) three into a singular, immersive experience.
Why Use Blockchain in the Metaverse
Blockchain is a secure, public, decentralized database that allows for safe information recording.
It has become increasingly popular due to its application in Bitcoin to create a digital currency that is free from government control.
The blockchain is also an alternative record-keeping system since there are no central servers, so all records are stored in multiple locations.
Also, data stored on the blockchain cannot be erased or destroyed since it would make every copy unusable, protecting them from loss due to hackers or natural disasters.
Any Metaverse will require both hardware and software. A computer system will allow users to interact comfortably with their environment, while the digital environment will have content available to its users.
Blockchain technology, a secure database that allows independent nodes to interact, could be used to create Metaverse platforms.
This makes the Blockchain ideal for use in Metaverse, as it allows users to send money and other assets securely over the internet without a third-party escort.
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How will NFTs shape the Metaverse?
Games like Axie Infinity and Aavegotchi have created new virtual economies that reward users with assets like non-fungible tokens (NFTs) and in-game cryptocurrencies.
A well-designed Metaverse architecture could allow for the portability of in-game assets. This portability could apply to weapons or avatar enhancements, allowing gamers to use their assets in a different environment, making them persistent and governed by NFT rules.
Launch your Metaverse and NFT Marketplace with Minoid
We can help you launch your Metaverse by designing and developing virtual worlds for socializing, trading, working, and gaming.
We could also bake NFT logic into your Metaverse!
Connect with our blockchain consultants today to learn more about our Metaverse development services.
