Metaverse
Introduction
In its current meaning, metaverse generally refers to the concept of a highly immersive virtual world where people gather to socialize, play, and work. Awareness of this term surged on October 29, 2021, when Facebook rebranded itself “Meta” and released a video in which CEO Mark Zuckerberg says, “I believe the metaverse is the next chapter for the internet.”
In futurism and science fiction, the metaverse is a hypothetical iteration of the Internet as a single, universal and immersive virtual world that is facilitated by the use of virtual reality (VR) and augmented reality (AR) headsets. In colloquial use, a metaverse is a network of 3D virtual worlds focused on social connection.
Meta- here efficiently conveys the idea of transcending reality (as in metaphysics) and the more current use of meta as an adjective meaning “self-referential” or knowingly distinct from the conventional and concrete world.
In his video, Zuckerberg says that “meta comes from the Greek word for beyond,” and that’s basically correct. Etymologically, metameant “after” in Greek, so metaverse also neatly implies a world or conception that requires the “real” world in order to move beyond it and acknowledge another realm.
What Is the Metaverse?
What’s the definition of a metaverse?
The Origin of 'Metaverse'
How 'Metaverse' Is Used
Why are video games linked to the metaverse?
How does crypto fit into the metaverse?
But what do these mean exactly?The key aspects of blockchain suited to the metaverse are:
1. Digital proof of ownership:
2. Digital collectibility:
3. Transfer of value:
4. Governance:
5. Accessibility:
6. Interoperability:What's the future of the metaverse?
What Is the Metaverse?
The metaverse is a concept of a persistent, online, 3D universe that combines multiple different virtual spaces. You can think of it as a future iteration of the internet. The metaverse will allow users to work, meet, game, and socialize together in these 3D spaces.
The metaverse isn’t fully in existence, but some platforms contain metaverse-like elements. Video games currently provide the closest metaverse experience on offer. Developers have pushed the boundaries of what a game is through hosting in-game events and creating virtual economies.
Although not required, cryptocurrencies can be a great fit for a metaverse. They allow for creating a digital economy with different types of utility tokens and virtual collectibles (NFTs). The metaverse would also benefit from the use of crypto wallets, such as Trust Wallet and MetaMask. Also, blockchain technology can provide transparent and reliable governance systems.
Blockchain, metaverse-like applications already exist and provide people with liveable incomes. Axie Infinity is one play-to-earn game that many users play to support their income. SecondLive and Decentraland are other examples of successfully mixing the blockchain world and virtual reality apps.
Big tech giants are trying to lead the way. However, the decentralized aspects of the blockchain industry is letting smaller players participate in the metaverse’s development as well.
What’s the definition of a metaverse?
The metaverse is a concept of an online, 3D, virtual space connecting users in all aspects of their lives. It would connect multiple platforms, similar to the internet containing different websites accessible through a single browser.
The metaverse will be driven by augmented reality, with each user controlling a character or avatar.
Games like Second Life and Fortnite or work socialization tools like Gather.town bring together multiple elements of our lives into online worlds. While these applications are not the metaverse, they are somewhat similar.
As per wikipedia, the term "metaverse" originated in the 1992 science fiction novel Snow Crash as a portmanteau of "meta" and "universe." Metaverse development is often linked to advancing virtual reality technology due to increasing demands for immersion. Recent interest in metaverse development is influenced by Web3, a concept for a decentralized iteration of the internet.
The new or unfamiliar nature of the metaverse naturally has made its usage a bit unstable. Here it is used as a synonym of multiverse, meaning “a theoretical reality that includes a possibly infinite number of parallel universes.”
With its hegemony
diminished, universe has given way to other terms that capture the wider canvas
on which the totality of reality may be painted. Parallel worlds or parallel
universes or multiple universes or alternate universes or the metaverse,
megaverse, or multiverse—they’re all synonymous, and they’re all among the words
used to embrace not just our universe but a spectrum of others that may be out
there.
— Brian Greene, Discover, 2 August 2011
The term has more recently drifted further away from fiction and towards science, to refer to the “space” of the experience of virtual reality, including such real-world uses as the training of pilots:
Viewing virtual objects from
different angles and perspectives, participants of aircraft metaverse can
interact with 3D assets and have hands-on experience.
— Aziz Siyaev and Geun-Sik Jo, Sensors (Basel) Vol. 21, Iss. 6, (2021)
And the fact that the digital world is a business environment has brought metaverse into economic discussions as well.
blockchain technology and
decentralized apps will be the keys to unlocking the next big leap forward for
the Web: the metaverse, a place where augmented and virtual reality,
next-generation data networks, and decentralized financing and payment systems
contribute to a more realistic and immersive digital world where people can
socialize, work, and trade digital goods.
—Ian Bremmer, Foreign Affairs, Nov.-Dec. 2021
Why are video games linked to the metaverse?
Because of the emphasis on 3D virtual reality, video games offer the closest metaverse experience currently. The video game Roblox even hosts virtual events like concerts and meetups. Players don't just play the game anymore; they also use it for other activities and parts of their lives in "cyberspace".
How does crypto fit into the metaverse?
Gaming provides the 3D aspect of the metaverse but doesn’t cover everything needed in a virtual world that can cover all aspects of life. Crypto can offer the other key parts required, such as digital proof of ownership, transfer of value, governance, and accessibility.
But what do these mean exactly?
If, in the future, we work, socialize, and even purchase virtual items in the metaverse, we need a secure way of showing ownership. We also need to feel safe transferring these items and money around the metaverse. Finally, we will also want to play a role in the decision-making taking place in the metaverse if it will be such a large part of our lives.
Some video games contain some basic solutions already, but many developers use crypto and blockchain instead as a better option. Blockchain provides a decentralized and transparent way of dealing with the topics, while video-game development is more centralized.
Blockchain developers also take influence from the video game world too. Gamification is common in Decentralized Finance (DeFi) and GameFi. It seems there will be enough similarities in the future that the two worlds may become even more integrated.
The key aspects of blockchain suited to the metaverse are:
1. Digital proof of ownership:
By owning a wallet with access to your private keys, you can instantly prove ownership of activity or an asset on the blockchain. For example, you could show an exact transcript of your transactions on the blockchain while at work to show accountability. A wallet is one of the most secure and robust methods for establishing a digital identity and proof of ownership.
Just as we can establish who owns something, we can also show that an item is original and unique. For a metaverse looking to incorporate more real-life activities, this is important. Through NFTs, we can create objects that are 100% unique and can never be copied exactly or forged. A blockchain can also represent ownership of physical items.
A metaverse will need a way to transfer value securely that users trust. In-game currencies in multiplayer games are less secure than crypto on a blockchain. If users spend large amounts of time in the metaverse and even earn money there, they will need a reliable currency.
The ability to control the rules of your interaction with the metaverse should also be important for users. In real life, we can have voting rights in companies and elect leaders and governments. The metaverse will also need ways to implement fair governance, and blockchain is already a proven way of doing this.
Creating a wallet is open to anyone around the world on public blockchains. Unlike a bank account, you don't need to pay any money or provide any details. This makes it one of the most accessible ways to manage finances and an online, digital identity.
Blockchain technology is continuously improving compatibility between different platforms. Projects like Polkadot (DOT) and Avalanche (AVAX) allow for creating custom blockchains that can interact with each other. A single metaverse will need to connect multiple projects, and blockchain technology already has solutions for this.
What is a metaverse job?
While many people already work at home, in the metaverse, you will be able to enter a 3D office and interact with your colleagues’ avatars. Your job may also be metaverse related and provide you with income directly usable in the metaverse. In fact, these kinds of jobs already exist in a similar form.
GameFi and play-to-earn models now provide steady income streams for people worldwide. These online jobs are great candidates for metaverse implementation in the future, as they show that people are willing to spend their time living and earning in virtual worlds. Play-to-earn games like Axie Infinity and Gods Unchained don’t even have 3D worlds or avatars. However, it’s the principle that they could be part of the metaverse as a way to earn money entirely in the online world.
Metaverse examples
1 SecondLive
SecondLive is a 3D virtual environment where users control avatars for socializing, learning, and business. The project also has an NFT marketplace for swapping collectibles.
2 Axie Infinity
Axie Infinity is a play-to-earn game that’s provided players in developing countries an opportunity to earn consistent income. By purchasing or being gifted three creatures known as Axies, a player can start farming the Smooth Love Potion (SLP) token. When sold on the open market, someone could make roughly $200 to $1000 (USD) depending on how much they play and the market price.
While Axie Infinity doesn't provide a singular 3D character or avatar, it gives users the opportunity for a metaverse-like job.
3 Decentraland
Decentraland is an online, digital world that combines social elements with cryptocurrencies, NFTs, and virtual real estate. On top of this, players also take an active role in the governance of the platform. Like other blockchain games, NFTs are used to represent cosmetic collectibles. They're also used for LAND, 16x16 meter land parcels that users can purchase in the game with the cryptocurrency MANA. The combination of all of these creates a complex crypto-economy.
What's the future of the metaverse?
Facebook is one of the loudest voices for the creation of a unified metaverse. This is particularly interesting for a crypto-powered metaverse due to Facebook's Diemstablecoin project. Mark Zuckerberg has explicitly mentioned his plans to use a metaverse project to support remote work and improve financial opportunities for people in developing countries. Facebook’s ownership of social media, communication, and crypto platforms give it a good start combining all these worlds into one. Other large tech companies are also targeting the creation of a metaverse, including Microsoft, Apple, and Google.
Published at binance academy webSep 21, 2021Updated May 20, 2022 8m
Why Metaverse?
Advanced Architecture for Secure, Easy to Create Digital Assets and Digital Identities
1 INTEROPERABILITY
Allowing anyone to build smart contracts and deploy them to the Metaverse chain, using tools like MetaMask, Remix, and Truffle. Smart contracts will be compatible through the provided support for Solidity as well as for anything that compiles to EVM bytecode.
2 SECURITY
Proof of Work (POW) to dictate block authoring and Grandpa finality. There is no voting or validating committee through Proof of Stake (POS) as the entire network will validate each block. Thus, the system will not only be able to mitigate 51 % attack, but also provide a uniform distribution of mining reward to the stakeholders and investors.
3 SCALABILITY
Metaverse utilizes the Substrate modular framework for higher scalability, long term expansion and support to connect decentralized applications, services and allow other independent blockchains to connect, exchange information and transactions at a lower cost.
CLICK HERE FOR MORE DETAILS IN DOCS Facebook Metaverse
Tech
A. Hardware
Access points for the metaverse includes general-purpose computers and smartphones, augmented reality, mixed reality, and virtual reality.
B. Software
There has been no wide-scale adoption of a standardised technical specification for metaverse implementations, and existing implementations rely primarily on proprietary technology. There have been several virtual environment standardisation projects.
Universal Scene Description is a specification for 3D computer graphics interchange created by Pixar and supported by Blender, Apple's Scenekit and Autodesk 3ds Max. The technology company NVIDIA announced in 2021 they would adopt USD for their metaverse development tools.
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, and Valve for SteamVR.
Closing Thought
Remember the early days of windows 95 and 98 and the feeling one got from using the systems, it was like Bill Gates and his Microsoft team had programmed their emotions and enthusiasm into their product. This is also what likely happened with Mark Zuckerberg and Facebook. There is a feel good feeling on the platform that makes people want to use and stay. Instagram,
Amazon Web Services, Microsoft Azure, Google Cloud Platform and other cloud platforms are driven by business needs and there is no such feeling in these products, they are geared to solutions.
Why do people still love worshiping God with Hymnals such as "Amazing Grace", Is it just the positive encouraging emotions or is there something beyond the natural flesh and blood, supernatural is the word.
Why do people love old secular songs from stars such as Bob Marley, Notorious Big "Biggie", Tupac Shakur, Elvis Presley, Abba, Enya, Dolly Parton, Kenny Rodgers, Madilu System, UB40, The Beatles ....., Is it not just the pleasing sounds but also the emotions the songs transmit from the singers. Sometimes even when they don't understand the language they still enjoy.
The iPod made people feel what am talking about, we now have better products such as the iPad but the iPod was on another level at the time. Thats why some people are still into retro tech, they remember what the Gameboy felt like, that the new tech doesn't. Its a new different feeling but not the same as the old, even hard to compare.
When it comes to the Metaverse championed by Facebook corp. (Now Meta) Mark, the people writing the code are doing it as a Job (get the pay) and not out of passion. This is further felt by the users who get bored in the metaverse platform. Both Bill and Mark are now rich billionaire parents who are not in touch with their youthful teenage passions that drove them to create revolutionary products. Windows products look and work well but they don't have that initial windows 95, 98, ME, vibe. If one uses this systems on a virtual box they don't work well with new technologies and they hardly connect with those old feelings.
Is the Metaverse what users want or what Mark wants? will this make it a success?
Some websites on the internet do have this positive zeitgeist and users get a feel of it when they visit using browsers (such as Firefox Mozilla) on any platform.
Web 3.0 Satoshi Nakamoto Cryptocurrency Ethereum NFT Merkle Tree El-Salvador eNaira
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