Updated: Apr 26
Generally, the identity of the known world keeps changing with the pace of technology. The landscape of innovations has since developed a lot, and for a fact, the storyline of Metaverse started in 1992 with Neal Stephenson's best novel, Snow Crash. The story depicted a virtual reality (VR) world with many descriptions where immersive interactions and cooperation were highlighted.
However, the idea is gradually evolving to an online universe where programmed accessories and avatars can control multiple games across various social places. When you look at the modern internet, it is based on a series of protocols and file types that are integrated to serve various functions on a given network. The protocols here are the HTTP which transmits files that can be read in a browser, while the file types are the HTML that can be interpreted by the browser and displayed on websites.
Equally, Metaverse will base its protocols on transmitting 3D content from one user to another. It will involve files and scripts, functions, interactive data, avatar definitions, tracking data, and materials. All programs will need a full array of interlinked browsers to serve with different specific features, uses, and devices. On a lighter note, the information content will have to be stored on a decentralized network to enable all different servers to integrate fully and be compatible with the Metaverse program. The future we are talking about is coming in an immersive way with augmented reality (AR) and virtual reality (VR) technologies.
Characteristics of Metaverse
The absolute nature of Metaverse comes in handy with the following great features:
1. Interoperability- all accessories and avatars created should be accessed and used across all metaverses.
2. Interactivity- the users must interact and communicate with each other and metaverses well.
3. Diverse-fledged economy- all goods can be used in any environment without considering who manages them.
4. Corporeality- even though Metaverse is a virtual space, it is subject to laws of physics with limited resources.
Blockchain companies working on Metaverse
Blockchain is becoming a popular place in numerous industries because of how information is stored and accessed. Many companies are concurrently investing heavily in research on the future of Metaverse, paving a promising future where technology will revolutionize finance, insurance, data security, government, and many other fields.
Building metaverse means creating a better-advanced internet where we will develop content and the technology used to connect a network. Numerous possibilities to explore will arise, and these can be an interactive virtual marketplace, interoperable platforms, and play-to-earn games for everyone. The primary companies which are fundamental in building Metaverse include:
Microsoft is developing a software called the Mesh for Teams as a primary offering released this year. It results from the working from the home trend from the covid-19 pandemic in line with the new metaverse craze. The software will be compatible with standard devices and VR headsets to craft an improved virtual office experience. The primary role of the mesh for teams will be to make virtual avatars a digital identity tool that will ease access and exploration of virtual spaces in the digital world.
For a long time, Google has had a lot of experience in augmented reality (AR), thanks to its Google Glass product. It did reorganize its augmented reality (AR) and virtual reality (VR) departments in November 2021 to the new Google Labs team that saw the inclusion of the holographic video conferencing tool project the Starline. Integrating the best software infrastructure will create a subtle approach that will bring virtual reality (VR) to connect to real and digital worlds. The primary focus for Google is to help connect through augmented avatars by merging natural and modern worlds. Even though a solid metaverse has not been seen, many proposals underway from Google create a great foundation.
When we talk of Binance, the virtual currency automatically comes to our head. The many developments in cryptocurrencies have built a solid foundation through the blockchain system. Binance has an essential role in Metaverse because of the importance of modern virtual currency like Bitcoin, Altcoin, Etherum, and many more. The Metaverse is paving the way for new processes and financial systems to be developed, which Binance is aiding in providing the needed infrastructure. In addition, the Binance NFTs virtual marketplace where buyers and sellers can trade virtual assets has been created from multiple blockchains, enhancing metaverse ecosystems. You can also get large offers by selecting metaverse tokens through the Binance exchange.
Tencent is the largest video game seller worldwide, owning Chinese messaging and social network platforms Tencent QQ and Wechat, respectively. All of these platforms are important in the development of Metaverse. Tencent QQ majorly offers e-commerce, gaming, films, music, and voice chats within the web portal. WeChat, on the other side, provides a mobile payment app through a link on its social media stands. The primary focus of Tencent management has been building a vast gaming infrastructure that will diversify and leverage the Metaverse. It has also emphasized software solutions that have an excellent capability in increasing players' participation in Metaverse.
· Epic games
Through much development, Epic Games have enabled the most advanced metaverse platform to arise; Fortnite. It is a vast social platform with more than 350 million players in the virtual world. The game encompasses virtual events, including a range of celebrities, brands, concerts, and partnerships of awards. The quality of the metaverse ecosystem needs professionals who can create 3D content and make AR with VR content to ease its accessibility. The diverse ecosystems will open critical interconnected metaverse programs that are wonderful, increasing its monthly users than the current 60 million.
Facebook has been a prominent voice for social media platforms in the modern world. It has recently rebranded its name to Meta, making everyone wonder why the name changed. However, the change of its name has shown the seriousness of this company on the topic of metaverse development. Meta has already acquired ownership of vital elements of Metaverse, and on a small scale, we can see the following metaverse developments:
a) Project Cambria is a Virtual Reality (VR) headset compatible with Oculus Quest VR world.
b) Virtual Reality Messaging is essential in connecting users in an immersive way.
c) Horizon marketplace is where buyers, creators, and sellers trade digital goods.
Technologies for the development of Metaverse
Since Metaverse is still evolving, the nature of content and technology will also change. Creating quality content in virtual environments is essential for this industry to move forward. Let's have a look at these significant technologies:
1. Artificial intelligence (AI)
AI is an important technology working behind the scenes to ensure the magic happens. The vast infrastructure of AI makes it very useful in predictions and data calculations. The technology will also help improve algorithms that support natural language processing, translation, and avatar creation. AI makes experiences more inclusive by providing outstanding services like image recognition for visually impaired users.
2. Augmented Reality and Virtual Reality technologies
AR and VR technologies are the heart of Metaverse because of their immersive experiences for various users. A single game player in VR cannot be part of Metaverse but rather a shared meeting in VR is. Metaverse will still expand beyond VR to more advanced futuristic technologies.
3. Edge computing
In commercial digital spaces, edged computing is a medium that enables faster data transfer with high-quality immersive experiences reducing delays in virtual spaces. Furthermore, when millions of users are using the virtual platform, the cloud may not have the capacity to handle the processing through their system.
The saying 'change is inevitable' is truly a reflection of the Metaverse. The steady improvements over the coming years in software developments will make Metaverse a reality. Gaming industries, financial institutions, the health sector, security sector, virtual currencies corporates, offices, and travel should invest in research about Metaverse because every step currently is making it a reality!