What is the metaverse?
The metaverse is a virtual universe that uses virtual reality, augmented reality, artificial intelligence and internet connectivity technologies to create an immersive digital reality.
The concept is still highly discussed and under construction, as are its practical applications. But it is possible to visualize the possibilities of the metaverse by thinking about the universe of digital games, which allow players to interact with virtual realities as if they lived in them.
However, the metaverse encompasses much more than gaming entertainment. It is possible to think of all spheres of life in the metaverse, such as banking transactions, school classes, company meetings, family gatherings, shopping at the mall and much more.
Today there is no shortage of experts who offer their views on the metaverse and say that everyone is wrong on the subject.
Gartner provides an interesting conceptualization of the metaverse as a collective virtual space, created by the convergence of virtually enhanced digital and physical reality, that is device agnostic and not owned by a single vendor.
How did this concept come about?
In 2021, Mark Zuckerberg announced the rebranding of his company: Facebook Inc. would be renamed Meta, referring to the metaverse, the future that Zuck wants to build.
This announcement put the term "metaverse" into conversations around the world, even becoming a meme. After all, everyone wanted to know what that meant. But while it may seem like Facebook is creating the metaverse, this concept has been around for a long time.
The term is believed to have been first used in the 1992 science fiction novel Snow Crash, in which people interact as programmable avatars in a three-dimensional virtual space. However, in this case, the metaverse is a violent dystopia, an idea we probably wouldn't want to pursue...
Although the term didn't catch on at the time, the idea inspired other books, movies, and games. Today, when people talk about the metaverse, many refer to the game Second Life, created in 2003, which would have been the first metaverse. On that platform, people could interact with their avatars in 3D virtual worlds, as if they had a "second life."
what future are we building?
Like all novelties, the metaverse was not well received by many people either. Mark Zuckerberg's announcement, but also the metaverse development company concept itself, has already received some criticism from journalists, influencers, and tech experts.
For many, the rebranding from Facebook to Meta has a clear reason: to divert the focus from the accusations Mark Zuckerberg has faced in recent years. Problems with data privacy, interference in electoral processes, neglect of fake news and mental illness are all on the back of the creator of Facebook.
So nothing better than creating a new event for people to put aside such a delicate topic, right? Better to talk about a future that incites and delights people, right? In this article from The Atlantic, journalist Brian Merchant talks about it.
In fact, many of these problems will not be forgotten in the metaverse; worse still, they can be accentuated. Have you ever wondered how much user data the metaverse can generate? And how many mental disorders can virtual realities create? In other words, user safety and mental health will continue to be sensitive issues.
But the critics don't stop there. The metaverse envisioned by enthusiasts of the idea is perhaps a distant, if not impossible, scenario in the coming years.
This is because the current software and hardware infrastructure is not yet capable of supporting this virtual universe. Thus, the metaverse is prevented from reaching scale, as Lauren Jackson claims in an article for the NYT.
How do you access the metaverse?
The metaverse can be understood as a place we access to live our digital life. Currently, you can do it through your computer or mobile phone, or for a more immersive experience, through a virtual or augmented reality device.
We're talking about devices like Google's Oculus (pictured below) and Ray-Ban Stories . Of course, the acquisition of these devices remains unaffordable for many people. But increased production by different companies as the metaverse evolves could drive down costs.
In addition, you have to use a platform that offers access to virtual reality, such as Roblox, Decentraland, Axie Infinity, The Sandbox or even Second Life, which still has users, especially in the United States.
It is important to know that these platforms are not the metaverse itself. They offer access to virtual experiences, which have a beginning and an end and allow limited user action. The metaverse concept, on the other hand, while still abstract, implies a life in virtual reality, not just one-off activities.
How to invest in the metaverse?
As the metaverse has become a hot topic, investor eyes have turned there. Cryptocurrencies and NFTs already move billions of dollars around the world, and are considered essential assets for the metaverse experience.
In addition, as we'll see shortly, there are also virtual land and houses for sale, for those who want to guarantee their space in the metaverse development services or sell for higher values in the future.
So if you also want to take advantage of the metaverse boom and make money from it, you need to start making a plan. These digital assets that we have cited, cryptocurrencies, NFTs and digital land, are good examples of what could make money in the coming years when the metaverse becomes popular.
However, this type of investment is still considered risky. If you want to earn money with digital assets, study well beforehand so as not to fall into traps and use only reliable platforms. The more eyes are directed at the metaverse, the more likely it is to attract scammers.