What Is The Metaverse? - An Introductory Guide

 

By Damian David Nov 14, 2022

 

The Materverse

 

One of the things the internet has achieved since its Inception is a big shift in human interaction and the perception of reality. It has completely changed how people view the world and interact with it, most of the changes are good while some of them are also bad. But literally, everything in the world has its cons and pros, right? So here goes...

 

The internet takes the world to a digital ecosystem that has somehow replaced most of the real world. You could do a lot on the internet today — a lot. In Fact, an average human can remain indoors for disturbingly long periods of time as long as there is active WiFi and a personal computer at his disposal.

 

But this is only going to get better — or worse. Cause the Metaverse technology might as well not give the average human any reason to leave his house at all and why would he? When everything in the real world will have or already have its replica in the Metaverse — Everything.

 

That brings us to the question, what is the metaverse?

 

At Glance

 

● The Metaverse is a term that is used to describe a futuristic version of the internet that will allow us to interact with the digital world using augmented reality hardware and software. 

 

● The Metaverse aims to be an immersive internet. This means you're going to be inside the internet — inside the internet, crazy right? 

 

● The Metaverse will make use of Avatars for interaction within the internet. Avatars are 3D representations of yourself. 

 

● Current access points of the Metaverse are Virtual and Augmented Reality (VR) and (AR) which are experienced with enhanced headsets. 

 

● The Metaverse technology will help facilitate the use of blockchain technology and decentralized finance as cryptocurrencies and NFTs are compatible ideas for the economy of the Metaverse.

 

 

Understanding The Metaverse

 

So what is the Metaverse, really?

 

Picture a technology that allows you to meet your best friend thousands of miles away from you — without physically taking a single step away from your house. We're already experiencing a little of that privilege using social media platforms and some gaming technologies. But what If you can actually "meet" that person you're chatting with without having to leave your horizon? That is basically the idea surrounding what the Metaverse technology is based on.

 

So far some virtual reality games and some Web 3.0 platforms have achieved a little of this Metaverse concept. There are games that let you play with an avatar of yourself and there are games that let you into the game ecosystem using headsets and some other virtual and augmented machines.

 

The Metaverse technology aims at integrating every real-world experience into the digital space, this ranges from properties like lands, schools, restaurants, and clubs, to cities, towns, etc, so we are looking at a whole enhancement of the world's economy. The metaverse economy is expected to help boost the utility of blockchain technology, decentralized finance, digital currencies, and NFTs (Non-fungible tokens).

 

Everything about the Metaverse is still In its alpha stage; most platforms and companies that are centring their services to make the Metaverse an achievable experience for its users haven't made much spectacular or distinct progress so far. Metaverse technology regardless can be vouched for to be one of the inevitable possibilities in the near or far future because, with the way the world is moving, there is a perfect certainty that the internet will be at the apex of human interaction — scary.

 

Cons of the Metaverse?

 

I mean, considering the damage the presence of internet technology has caused socially, mentally and cognitively, emotionally, etc There is a big chance that the Metaverse will be a catastrophe to the human experience. The current digital ecosystem is extremely addictive. Now tell me what a digital ecosystem that allows you to enter it and interact with everything in it can do to your focus span and cognitive processes. 

 

There are also issues of security concerns. As you know the major social media platforms and companies are rich not necessarily because of the services they provide, but because they sell your personal data to the highest bidder in the corporate world. And whether you notice it or not, there is some damage — sometimes irrevocable – that this does to you. 

 

Now the Metaverse allows interaction, participation, and immerses in a digital ecosystem primarily monopolized and run by centralized bodies. Privacy might be a thing of history in this situation. 

But then, should all these be compared to the pros and advantages of meeting your girlfriend or boyfriend, perhaps a friend in virtual reality without your parents knowing about it? — cause you're not even leaving the house in the first place?

Well...

 

Pros of the Metaverse?

 

Microsoft purchased a Virtual reality company called AltspaceVR and since then Microsoft staff meetings and gatherings have been sometimes carried out in Virtual reality using Virtual Avatars — cool right?

 

The Metaverse technology will make interaction easier and faster in situations where distance is a barrier so you wouldn't need to hop on that $2000 flight to go hear your boss tell you you're not putting in the right efforts to make him richer. 

 

The Metaverse technology will likely also bridge the gap between decentralized finance and the world cause there is a high probability of the blockchain ecosystem being wholesomely integrated into the Metaverse.

 

Social media platforms and games would be more Hyper-realistic which is a good thing to some extent. Internet interaction will be fun and exciting and adventurous. Internet literacy will be at its all-time high, education, and information will be at the tip of your fingers and creativity will soar off the roof.

 

How to Access the Metaverse?

 

Accessing the Metaverse is pretty simple, most basically, all you need is a computer or even a device as basic as your phone to explore select meta environments, but when it comes to actually being in the Metaverse, you'd need to look have VR headsets for the best experience. 

 

Once you have the selected gears, all you have to do is plug into whichever Metaverse you wish to be at, maybe join a meeting, or a party. Several reports have covered diverse events on the Metaverse like weddings on Decentraland and Sandbox

 

Speaking of Sandbox here are;

 

4 Examples of Metaverse Games you should try

 

● Splinterlands 

● Axie Infinity

● Sandbox

● Minecraft

 

Splinterlands: Splinterlands lands is undoubtedly one of the most profitable and most played Metaverse and blockchain-based games. It is a collectible card game based on the Hive blockchain where players build their teams around card variables to battle for impressive rewards. 

 

Splinterlands gives you a Meta experience of owning these digital assets earned such as NFTs as cards that can be rented or sold on the general market. 

 

Axie Infinity: if you're a lover of pets, then you'll love Axie Infinity. Axie Infinity is a blockchain game based on the Ethereum blockchain, players breed blockchain pets called Axies to battle their enemies and Earn rewards. 

 

Axie is said to have over 2 million daily players with over $3 billion of transacted amount, this means that so many people are already leveraging this for pleasure and income. 

 

Sandbox: sandbox is an Ethereum-based Metaverse that not only allows individuals to play, earn and own, but it also allows individuals to create and monetize their own games using its open and free software VoxEdit and the Game Maker. 

 

Sandbox is known to birth great games thus far, including Minecraft, a game space that allows individuals to build structures to their liking for whatever reasons, the collective of these two brings power and great user experience.

 

In fact, if you're a football fan, Kun Sergio Agüero has a Metaverse on Sandbox called the Kuniverse, a huge stadium where Agüero will welcome users, play live and interact with fans. There are currently 500k SAND tokens to share and I heard a rumour that there's a virtual food truck, wink. 

 

If you're reading this late, sorry if you missed it.

 

Who owns the Metaverse? 

 

Nobody owns the Metaverse, that's like asking who owns the Internet, so similarly, just as there are always the first developers of these structures, nobody owns or can centrally control them. The Metaverse is meant to be a flexible virtual world that allows all individuals to do whatever they want. 

 

How many Metaverse Companies are there? 

 

Over 500, as with anything that is built around cryptocurrency, and blockchain technology, the number can be surprisingly more considering the nature of the ecosystem, however, a June report points to a round figure of 500.

 

Can you make money on the Metaverse? 

 

Yes, making money on the Metaverse is one of its many possibilities, with the ability to create, own and sell digital items, anyone can make money on the Metaverse. 

 

It is expected that more and more businesses will move their operations to the Metaverse, as it stands, so many companies have already signed several trademarks

 

How many companies have filed Metaverse Trademarks? 

 

As of September, about 4,150 US trademark apps have been filed for the Metaverse, virtual, and Web 3 goods and services. 

 

In conclusion

 

The Metaverse seems to be the next big and essential thing in the digital ecosystem. It seems like the next progressive thing to happen. Whether it's good or bad there's one thing that's for sure —

Innovation is constant in the technological sphere. So the best we can do is brace up for it and be ready to voice out our concerns or displeasures in its architecture until they're heard and met.

 

 

 

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