What is the metaverse
The term “metaverse” is the latest buzzword to capture the tech industry’s imagination.In fact, metavars is the use of virtual world elements in the real world
so that one of the best-known internet platforms is rebranding to signal its embrace of the futuristic idea
Facebook CEO Mark Zuckerberg’s Thursday announcement that he’s changing his company’s name to Meta Platforms Inc., or Meta for short, might be the biggest thing to happen to the metaverse since science fiction writer Neal Stephenson coined the term for his 1992 novel “Snow Crash
Think of it as the internet brought to life, or at least rendered in 3D. Zuckerberg has described it as a “virtual environment” you can go inside of — instead of just looking at on a screen. Essentially, it’s a world of endless, interconnected virtual communities where people can meet, work and play, using virtual reality headsets, augmented reality glasses, smartphone apps or other devices
It also will incorporate other aspects of online life such as shopping and social media, according to Victoria Petrock, an analyst who follows emerging technologies
“It’s the next evolution of connectivity where all of those things start to come together in a seamless, doppelganger universe, so you’re living your virtual life the same way you’re living your physical life,” she said
What will I be able to do in the metaverse
Things like go to a virtual concert, take a trip online, view or create artwork and try on or buy digital clothing
The metaverse also could be a game-changer for the work-from-home shift amid the coronavirus pandemic. Instead of seeing co-workers on a video call grid, employees could join them in a virtual office
Facebook has launched meeting software for companies, called Horizon Workrooms, to use with its Oculus VR headsets, though early reviews have not been great. The headsets cost $300 or more, putting the metaverse’s most cutting-edge experiences out of reach for many
For those who can afford it, users would be able, through their avatars, to flit between virtual worlds created by different companies
Is Facebook going all in on the metaverse
Zuckerberg is going big on what he sees as the next generation of the internet because he thinks it’s going to be a big part of the digital economy
Critics wonder if the potential pivot could be an effort to distract from the company’s crises, including antitrust crackdowns, testimony by whistleblowing former employees and concerns about its handling of misinformation
Former employee Frances Haugen has accused Facebook’s platforms of harming children and inciting political violence after copying internal research documents and turning them over to the U.S. Securities and Exchange Commission
They also were provided to a group of media outlets, including The Associated Press, which reported numerous stories about how Facebook prioritized profits over safety and hid its own research from investors and the public
Is the metaverse just a Facebook project
No. Other companies talking up the metaverse include Microsoft and chipmaker Nvidia
Video game companies also are taking a leading role. Epic Games, the company behind the popular Fortnite video game, has raised $1 billion from investors to help with its long-term plans for building the metaverse. Game platform Roblox is another big player, outlining its vision of the metaverse as a place where “people can come together within millions of 3D experiences to learn, work, play, create and socialize
Many gamers in Southeast Asia these days make money through the AxieInfinity game
Other Chinese blockchain projects such as Decentraland and Sandbox have also created a virtual world where users can earn money by playing games. In these games, game items, such as land, artwork, and items, usually take the form of NFT tokens, which users can buy and sell on trading platforms. Since most of them work on the Ethereum blockchain, it is also very easy to cash in on revenue
