A Trip Inside The Metaverse

Metaverse is a word that does not stop appearing in all media, but many people are still unaware of its true implications. There are experts who claim that the metaverse is the natural evolution of the internet. Others remember metaverses that already existed before and whose success can be questioned.

A dimension that will be made possible both by the development of augmented reality (AR) or virtual reality (VR) technologies and by the deployment of the cloud and network connections with less latency.

But What Exactly Is The Metaverse?

The concept first appeared in 1992, in a novel by Neal Stephenson called Snow Crash . The title gives some clues: the fictional work narrates, with apocalyptic overtones, the chase that crosses the protagonist and the antagonist in a virtual world that is presented as a video game. Another contribution of Stephenson is that of the term avatar to refer to digital representations.

Mark Zuckerberg announced in October that Facebook would be renamed Meta and that it would seek to build that metaverse. Now, Meta users will not stick to the use of their very popular social network. They will be able to interact in a digital world, in which they will be represented as avatars.

The metaverse that Meta promotes is one in which Zuckerberg wants its users to socialize, play games, work. let them live

The Metaverses That Already Exist

Actually, the concept of metaverse is not new. A  researcher prefers to refer to the world that Meta designs as a cyber world, since etymologically it is more appropriate: the prefix cyber comes from the Greek kyberneo (the art of piloting a ship) that was transferred to Latin as gubernare (to govern).

It is a three-dimensional world through which users can chat and move in environments created by themselves. A department of the University of Malaga has even taught radiology and medicine classes through this system for a decade.

The truth is that the metaverse is attractive to many brands. One of the biggest record labels has harnessed non-fungible token (NFT) technology to record what would be the metaverse’s first musical ensemble. Plots are already being sold in these digital universes. The jobs of the future could range from digital pet sitters to avatar seamstresses.

A Metaverse With Endless Investment Opportunities

The metaverse is still in its early stages, but the infrastructure is being built piece by piece and social attitudes are changing such that we may soon be ready to experience a new age of the internet. The metaverse will be the big buzzword for investors and many stocks are already benefiting from it, according to Morgan Stanley.

To the extent that traveling through virtual worlds and the real world are nearly comparable, the metaverse could become a cheap form of on-demand mass transportation to see new places, people, and cultures.

The development of the metaverse may produce more centralized and differentiated experiences today, but it is working toward an end state that is fully decentralized. And, unlike Ready Player One , it represents a metaverse where the real world is left behind to make way for an infinite virtual world. Hence, several metaverses are likely to emerge.

Social Networks And Video Games, The Best Placed

There is similar growth potential on the creator side: Alphabet’s YouTube has paid creators a total of $30 billion in the past three years. Developers’ revenue is often shared with the social networks or video game platforms themselves. 

Just as Apple receives 3% of app store revenue, metaverse platforms are likely to draw a similar economic model.

On top of that, powerful e-commerce companies are likely to benefit from new sales channels and features, while blockchain companies will be essential in providing the financial infrastructure underlying the metaverse economy. 

The Role Of The ‘Blockchain’

But the potential in the markets transcends listed companies. The advent of digital assets and cryptocurrencies, such as bitcoin, marked the beginning of a new phase in this process of technological change. 

As financial transactions move into the metaverse, new services will emerge. Users will need to easily convert between fiat and digital currencies, transact digital currencies to purchase goods, and store their digital purchases somewhere.