What’s All the Hype About the Metaverse?

We have been hearing about it a lot lately. For those who heard about it and doesn’t know what it actually means, Metaverse stands for “beyond the universe.”. A “metaverse” is a universe of all environments — the physical one, and all the virtual ones.

It’s been nearly six months since Facebook announced it was rebranding to Meta and would focus its future on the upcoming “metaverse.” In the time since, what that term means hasn’t gotten any clearer. Meta is building a VR social platform, Roblox is facilitating user-generated video games, and some companies are offering up little more than broken game worlds that happen to have NFTs attached. 

Advocates from niche startups to tech giants have argued that this lack of coherence is because the metaverse is still being built, and it’s too new to define what it means. The internet existed in the 1970s, for example, but not every idea of what that would eventually look like was true.

So, what is this Over-hyped Metaverse?

If you are a “google researcher”, you will find various definitions and intepretations that will only confuse you.

According to Wikipedia:

“In futurism and science fiction, the metaverse is a hypothetical iteration of the Internet as a single, universal and immersive virtual world that is facilitated by the use of virtual reality (VR) and augmented reality (AR) headsets. In colloquial use, a metaverse is a network of 3D virtual worlds focused on social connection.”

The metaverse in simple terms is a virtual world that is used by real people and are represented by digital avatars.

Lately, everyone seems to be paying attention to it is largely due to Facebook. Facebook has rebranded itself as Meta in an attempt to own the metaverse. Early this year, Microsoft cited the so-called metaverse as a reason for acquiring the game developer Activision Blizzard for $68.7 billion, citing this deal would provide “building blocks for the metaverse.”

When will it all happen?

54% of experts claiming that they expect by 2040 the metaverse WILL be a much-more-refined and truly fully-immersive, well-functioning aspect. Tons of Institutional investors are saying that the Metaverse could be worth $8 trillion to $13 trillion by 2030 and currently billions are being invested plus a lot of partnerships are occurring..

Conclusion:

Metaverse is still in its infancy stages. It is still uncertain how long it will take to be fully developed or applicable in real life. However, one certain thing is that it is “the next big thing” in the virtual reality world.