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What is Metaverse? How can I benefit?

The word “metaverse” is the latest buzzword to take control of the tech industry to a point where one of the best-known platforms has rebranded to show the embracing of futuristic data.

The Metaverse combines several technology elements, including virtual and augmented reality, where users “live” within a digitally enabled universe. According to Victoria Petrock, an analyst who follows emerging technologies, the contributors and supporters of Metaverse have a vision of a world where the users can work, play and live with colleagues through conferences, concerts, and virtual trips. In addition, Victoria added that Metaverse is the next evolution of connectivity where interaction will be seamless, and living a virtual life will be the same way you live your physical life.

When is Metaverse going live?

According to Mark Zuckerberg, the CEO of the former Facebook, now Meta, it would take between five to ten years for Metaverse to be used in the mainstream. However, there are some attributes of Metaverse in existence. With the possibility of inaccessibility, Virtual reality headsets and Ultra-fast broadband speeds are up and running.

How did Metaverse come up?

During the pandemic, Covid-19 period, several innovations came up. Metaverse is not an exception. In the current world, people interact online by using different social media platforms or messaging applications. Metaverse sprouted to create more spaces where people can interact in a more multi-dimensional environment. Online interactions got a boost since more people work or attend classes remotely.

How will I benefit from using Metaverse?

Metaverse will be a game-changer for different daily engagements like going to virtual trips concerts and buying and selling online, working from home amid the coronavirus pandemic. Employees will now see themselves virtually instead of seeing their co-workers on a video call grid. Horizon workrooms are new meeting software from Facebook to be used with Oculus VR headsets. According to Zuckerberg, a lot of the experience around Metaverse will enable teleporting from one experience to another. According to Victoria Petrock, Tech companies will have to figure out how to link their online platforms. Competing technology platforms have to agree on standards to ensure that there are no people on Facebook Metaverse and others in Microsoft Metaverse.

Is Metaverse a Project by Facebook?

According to Zuckerberg, Metaverse is a Facebook company and involves several other companies like Microsoft and Nvidia, the chipmaker. Several other companies are going to create virtual worlds and environments in Metaverse. There is a need to be open and extensible for a company or an individual to teleport to different worlds. Other companies are video game companies. Epic Games is the company behind the Fortnite Video Game and has raised over $1billion to help build Metaverse.

Another company in the video game industry is Game platform Roblox and outlined that “a metaverse is a place where people come together within millions of 3D experiences to learn, work, play, create and socialize.” Consumer brands like Gucci have collaborated with Roblox to sell a collection of digital-only items. Clinique and Coca-Cola have also sold tokens to Metaverse.


JM Kitetu

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