Metaverse

What is Metaverse?

In metaverse, people can interact with each other using virtual and augmented reality technologies. It will result in forming the shared virtual world.

Metaverse is considered web 3.0. The earlier version of the internet which consisted of web pages that provided information is termed web 1.0. The next version consisted of interactive web pages. Now, web 3.0 will be a result of assimilating virtual reality and augmented reality in web 2.0.

We can shop, play games, buy things and own places in the metaverse. Several companies are creating gaming metaverses. The game ‘Second Life,’ which was released in 2003, can be considered an early version of the metaverse.

Benefits of Metaverse

• It will be quite beneficial to host meetings. Video conferencing has some drawbacks, such as the lack of a personal connection. Metaverse will make us feel like we are sitting at the same place by interacting through digital avatars.

• It will also help people with special needs.

• It can also be used to help people overcome phobias.

• It is expected that virtual currencies in the metaverse will significantly influence the world economy. Decentralization will reduce the dependence on governments.

Challenges with Metaverse

• Few companies may control the metaverse and hence power and influence may stay in the hands of a few people.

• Government surveillance and control could be increased by collaborating with businesses.

• Addictions to the internet and smartphones are becoming common. As a result, it’s possible that virtual world addiction will become the next huge concern. Furthermore, metaverse consists of entertainment, shopping, games and many other things that are addictive in nature.

• Even in this modern era, not everyone has access to the internet. Many people are digital illiterates. Due to the digital divide, the benefits of metaverse will not be accessible to many.

Conclusion

Some people believe that the metaverse will be the internet’s future. Many businesses are investing in the development of the metaverse. It is important to ensure that no monopoly exists in the shared virtual environment.