What is Metaverse?
Metaverse is generally used to define the concept of the virtual space that can create a new Internet using 3D virtual and augmented spectrum. Behind the metaverse creations, many omnipresent technologies are involved: blockchain networking, crypto networks, cryptocurrencies like Bitcoin and Ethereum, Extended reality, Mixed reality including Augmented reality and Virtual Reality, Non-fungible tokens (NFT), and many more.
Metaverse: The Beginning:
● The original metaverse word was coined by writer Neal Stephenson in his 1992 science fiction book “Snow Crash.”
○ Stephenson metaverse was an urban environment developed to interact virtually.
○ Users access the metaverse through personal VR terminals.
○ First conceptualization of any virtual reality world.
● Ernest Cline showed another glimpse of the metaverse future through OASIS in his 2011 novel “Ready Player One.”
Metaverse basic foundation:
Metaverse is created using many technologies, but precisely to the combination of the internet, 3D items, Open standards for media, Open programming language standards, technologies like AR, VR, and MR and decentralized ledgers, and innovative contract platforms like Blockchain.
Combining Metaverse/ Blockchain/ XR altogether:
NFT has been included in the metaverse, which has further activated Web 3.0 and Blockchain 3.0. We know people tend to emerge themself in 3D or create Avatar characters. In Metaverse, these characters are replicas that are recognized as cloves in real life. Here, users can create and showcase their individuality by employing NFT technology and can prove their uniqueness. This is one of the examples that shows the combination of Metaverse, Blockchain, and extended realities altogether.
How does Metaverse work?
Decentralized Nodes- This is the one significant aspect that Blockchain has contributed to the world. A massive number of nodes are currently hosting the Ethereum network worldwide. Therefore, a Decentralized node provides tremendous benefits to the blockchain metaverse. Blockchain also offers the consensus mechanism, which promotes high-level security for the metaverse foundation.
Portability- In metaverse, the content is not siloed. In simple words, any content uploaded on the Metaverse Foundation, whether it is an artwork or any other type of content, can be moved to any other application without any interference. Also, the Metaverse foundation can not change, modify, or take down that content.
The metaverse framework is divided into two subcategories of Technology and Ecosystem.
● AI, Blockchain, Computer Vision, and IoT/Robotics are also used to handle the diverse activities inside the metaverse through User Interactivity and XR.
● To improve the performance of an application that is prone to delays and consumes more bandwidth, Edge Computing, and Cloud Computing is employed.
● The other aspect of the metaverse framework is an ecosystem that describes a self-reliant and fast-growing virtual world.
- Area of Social acceptability, security, privacy, trust, and accountability are also considered in the metaverse ecosystem.
What is XR?
XR stands for Extended Reality. It is an umbrella term used for the new set of technologies, namely Augmented reality, Virtual reality, and Mixed reality, that change the way we interact with the world and each other. Extended reality includes real and virtual environments generated with the help of computer technologies and wearable devices for providing immersive experiences.
XR technology allows users to experience different immersive technology across the metaverse space. Here, simulations having sound, sight, and even olfactory experience can be achieved using AR Apps, VR headsets, haptic devices, and holograms all together in metaverse space.
Hand-held Devices: you experience XR by holding the devices in your hand like Smartphones and Tablets.
Head-Mounted Devices: These devices are worn or mounted in the head to experience XR like Oculus, Hololens, and Quest.
Room Sized Devices: Here, XR is experienced using multiple projectors and holograms.