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Today’s Lesson: What Is The Metaverse? - Level: Beginner
Metaverse was coined by Neal Stephenson in his 1992 book, Snow Crash.
In the story, he described the metaverse as a virtual-reality world depicted as a planet-encircling market where virtual real estate can be bought and sold, and where VR goggle-wearing users inhabit 3D avatars whose form they have the freedom to choose.
Great book, by the way, you should give it a read…
Today’s characteristics of the metaverse are not too distant from this but the definition has evolved.
What Is The Metaverse?
The idea of the metaverse is similar to the idea of the internet back in the early 90s. Like the internet back in those days, today’s speculation of what the metaverse could and will be varies depending on who you’re asking.
So for this lesson, we will stick to broad concepts that will leave you with a basic understanding and enough to hold a conversation with the person in your life who just can’t stop talking about it.
Let’s start with a definition; the metaverse is:
A place where your identity is defined through a customizable avatar.
The 3D future of the internet.
Not a monolith - and will change with time. Similar to the internet, new use cases will be discovered as the underlying technologies evolve.
A place where users own their digital assets and can engage in trade for digital currencies that can be converted to fiat money.
Multiverse - where experiences large and small are created by 1000s of creators from around the world. The experience will be interoperable across different metaverses.
A place that allows an unlimited number of people to interact and engage simultaneously.
Not - owned by a single person or entity.
Overall, the metaverse is a permanent digital reality that combines social concepts like office work, meetings, entertainment, education, gaming, artificial intelligence, social networks or online communities, augmented reality (AR), and virtual reality (VR) with eCommerce, digital currencies, and NFTs; creating a utopia where the physical and digital worlds come together.
Technologies Powering The Metaverse?
Here are the core technologies being used to build the metaverse:
Blockchain and Cryptocurrencies - are used to build open and decentralized environments. Within these environments, the blockchain validates proof of ownership of digital assets; and cryptocurrencies power the transfer of value.
Augmented Reality (AR) - allows participants to view digital visual elements in the physical world. Pokemon Go has shown the potential that this technology can and will have.
Virtual Reality (VR) - produces computer-generated experiences where some require the use of hardware like headsets, gloves, and sensors.
Artificial Intelligence (AI) - is applied to the non-player characters (NPCs) in different scenarios. NPCs exist in almost every game; they are a part of the environment designed to react and respond to participants’ actions. AI is also being used to generate avatars, process data, generate NFTs, and more.
3D Reconstruction - Physical-world environments can be replicated into these virtual experiences. 3D reconstruction technology is used to create realistic and natural-looking spaces.
Internet-of-Things (IoT) - can seamlessly connect the 3D world to a large number of real-life devices. This enables the creation of real-time simulations in the metaverse.
Source: Binance Academy
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