One German study published by DAK-Gesundheit found that usage of social media and video games was up by at least 60% in 2020 over 2019 among children between 12 and 17. Online communities have existed since at least the mid-1980s, and grew in the 1990s with chatrooms, AOL instant messenger and the first social media sites. The game World of Warcraft became a persistent social scene for millions in the early 2000s, and communities have continued to sprout up within and around games. Today, logging onto Fortnite, joining a chat with friends over a console platform and launching into a game with them is, especially to younger generations, just as social an experience as most other physical interactions. Meta defines the metaverse as “a set of virtual spaces where you can create and explore with other people who aren’t in the same physical space as you.”

What is Metaverse

One of the main benefits of the metaverse is supposed to be “presence”, or the feeling of physically engaging with places and characters instead of looking at them through a window. Gathering your colleagues around a virtual table might feel more natural to some people than looking at a grid of Zoom thumbnails. 3D reconstruction has the potential to make the metaverse appear as lively and lifelike as possible. 3D spatial data and 4K HD photography will be applied to a large extent to create digital replicas of our world. Cryptocurrencieswere struggling to find real-world economical applications, they have now. Digital currencies can be used to incentivize the purchase and sale of assets in virtual environments.

Comprehensive development services to help you lead the future-ready Metaverse projects.

So, how do tech companies show off the idea of their technology without showing the reality of bulky headsets and dorky glasses? So far, their primary solution seems to be to simply fabricate technology from whole cloth. I hate to shatter the illusion, but it’s simply not possible with even very advanced versions of existing technology. Within the metaverse, individual users appear as avatars of any form, with the sole restriction of height, “to prevent people from walking around a mile high”. OpenXR is an open standard for access to virtual and augmented reality devices and experiences. It has been adopted by Microsoft for HoloLens 2, Meta Platforms for the Oculus Quest, HTC for the HTC Vive, Qualcomm for the Snapdragon Spaces XR Developer Platform, and Valve for SteamVR.

  • Self-sovereign identity is a model for managing digital identities in which individuals or businesses have sole ownership …
  • More advanced iterations of the metaverse include Decentraland and The Sandbox, where users have more control over the digital world and accumulate in-game assets via non-fungible tokens .
  • Virtual fashion studios and designers have an opportunity to enter an entirely new market of digital-first clothing.

Virtual reality is currently used for video games but could be used for virtual meetings, medical training, or military training. A person who is using virtual reality equipment is able to do things like look around a virtual world, move, and interact with objects and other users. A platform based on Metaverse provides a more immersive experience for social media users by enticing a feeling of presence among them.

LG, Oorbit Partner for Smart TV Metaverse Solution

Hailed as the next generation of the internet, big tech’s acolytes have high hopes for the metaverse. But though this new virtual space may change our lives, it’s still largely misunderstood. Learn what the metaverse is, how to access it, and where it may be heading in future. Then keep yourself safe wherever you go online with powerful online security and privacy software like Avast One.

Data privacy and security were the biggest hurdles the metaverse has to overcome (33% of respondents). When it comes to risk/reward , VR and AR are in the low risk/moderate reward sector. “With AR/VR technologies, cost is predictable, but ROI is sometimes difficult to measure or is unclear,” the report said. A glance at Google Trends shows that ‘metaverse’ is very much the new kid on the block, with a dramatic boost in search interest around the time that Facebook renamed itself Meta. The best part is, AI NPCs can be customized so that the same copy is used contemporaneously by millions of users. Together with cryptocurrencies, they will act as the technological pillar asserting digital asset custodianship beyond doubt.


By owning a Crypto wallet with access to your private keys, you can verify possession of an asset or activity on the blockchain. For example, you could show a particular transcript of your transactions on the blockchain to show liability. A wallet is one of the safest and most robust ways for creating a digital identity and evidence of ownership. For those whose lives are already being lived partly in the metaverse—despite its pitfalls and risks—that building has begun. For now, spending any part of a workday in the metaverse still seems like a far-off dream for most of the global workforce. His coworkers took a while to adjust to the fact that he usually appears in group video meetings as an avatar, and his family is “not as enamored” as he is.

In addition, Google is also working on metaverse-related technology for years. The metaverse is a shared virtual environment that people access via the Internet. It uses smartphone displays or headsets to enhance virtual elements in the physical world. Therefore, users can utilize some digital features while still experiencing the physical world. Facebook and Epic games are developing emerging technologies for the Metaverse. Many experts have claimed that the Metaverse is still a long way off, but the term’s increasing popularity has many people wondering what changes or precedent it could set.

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