METAVERSE- explained
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, we hope you are completely healthy and having a great time. Many of you might have heard or read a lot about the topic we are going to talk about today but never knew or could not understand.
Today, through Inside Press India, we will take you into a virtual world that will be completely different from the current society and will be completely based on the digital world. Yes, today we are going to talk about METAVERSE. What is Metaverse and how does it work? What work is going on at present and how it has the potential to change you and our lives. Let’s start but before that we hope that you have followed us on all our social media handles and also subscribed us so that in future also we can reach our best articles to you.Metaverse is defined in simple words, then metaverse is a virtual or simulated environment that is developed using blockchain technology with the help of artificial intelligence, AR or VR.
The term Metaverse was discovered or rather used for the first time in a novel by Neil Stephenson, released in 1992, Snow Crash.
Now we will try to explain this concept of metaverse to you again in a simple language.
Can you ever imagine that you will be able to complete your bank work even sitting at home? Or if we tell you that now you will be able to play cricket in the stadium even sitting at home. So after hearing this, you may definitely feel for once whether it is possible. Or we tell you that now you do not need to go to the showroom of any company to buy your clothes or shoes, but you will be sitting in the showroom sitting at home. Yes, now you just don’t think because now soon you are going to do this. All you need is a VR on your eyes (also shown in the picture above)Virtual reality box has to be installed and you will find yourself inside the same showroom or inside the same cricket stadium and will be able to do everything that you want to do.
But wait, it’s not as easy as you think, behind this whole digital computer algorithms, blockchain technology and many other types of functions work.
You all must know Facebook and you will also know that recently Facebook has changed its name to Meta, this is also the reason behind it. Facebook wants to elevate itself to the pinnacle of metaverse technology.Why is the Metaverse gaining popularity so fast and what is its core concept? Most importantly, what is its biggest use? And how will the metaverse affect us and your lifestyle, the answer to all these questions must be known to
you, if you look around you even in the present, then you must have come that everything from payment to identity verification has gone digital. That’s why a niche technology technology like the metaverse certainly has the potential to change the way people and enterprises experience and use technology.
Now let’s talk about all the uses of this technology.
We will also get to see some of the benefits of Metaverse in this way –
From the metaverse of the two-dimensional space we currently live in, we will now also have a wider reality and a digital two-dimensional space that we can sometimes inhabit. In simple words, if you are currently living at your home and you want to go out somewhere, then Metaverse will give you the facility that you will be able to be at home and enjoy the outdoors as well.
The content creator or designer from Metaverse will get many opportunities on the road ahead. For example modeling different types of vehicles being able to create different types of three dimensional ie 3D designs.
If we talk about the benefits of metaverse in the world of finance, it will open an economy or create an economy where you can build, trade, use this world’s own currency instead of the current currency. You will be able to buy and sell and do all your work. In which there will be more transparency and more secure transactions than in the present world. In the current world of data security, privacy and how there are many factors that will be reduced to a great extent in this virtual world of the metaverse.
Let us now take you further and tell you about other uses of metaverse;-
Unlocking Marketing Possibilities
User can make purchases. Now let us also present you an example of this. Various fashion brands like Nike Bata or Puma are bringing their showrooms on the metaverse. Suppose you have to buy something from Nike showroom but you want to shop from your home instead of going to the showroom, then your avatar will go there which will remain a digital virtual world and not in that world that the entire showroom is also yours. You will be presented on the digital medium in front of you, through your avatar, you will try and see whatever Nike clothes or shoes you want. Your avatar will be tailored to your full body size and every clothing or shoe in Nike’s showroom will have their size written on them. You can go there and try it on your avatar by sucking the color and size of your choice and if you like then you can order online now from there.
Apart from this, many brands will also use the metaverse to do their branding. Suppose you are enjoying a cricket game in METAVERSE then any brand can run their logo or advertisement of their brand on the jersey of that cricket game to make their publicity. For example, one company, Anzu, recently used ads to track real-time scenes in gaming scenes across mobile and console platforms.
Uses of Blockchain from Metaverse-
As you all know that metaverse and blockchain technology are very much used technology in each other’s work. Blockchain is one of the fundamental requirements for the Metaverse. Most interestingly, blockchain is serving as an important tool to encourage mass adoption of the metaverse across various industries.
If you explain in simple words, blockchain technology is necessary for all the transactions that happen in the metaverse or for the finance related facilities. Blockchange creates cryptocurrency and creates a ledger of peer-to-peer transactions along with the creation of NFTs.With the development of the Metaverse, blockchain could lead to a new realistic and attractive NFT market. Metaverse allows NFT marketplaces to become more interactive where users can communicate with other users and negotiate with each other more optimally.
virtual tours
Speaking of other uses of the metaverse, another answer would be virtual tourism. Now you must be understanding what is the meaning of tourism. You can walk around the place without going anywhere physically. For example Hon’ble that I should tell you that you want to come to Taj Mahal but you cannot come. So now through Metaverse you will be able to enjoy the whole atmosphere of Taj Mahal sitting at your home. Metaverse Virtual Reality and Augmented Reality (VR and AR) can be used together to create such an immersive digital environment. And this allows you to experience that place and feel it in a much better way as if you were there personally.
VR tourism is one of the emerging metaverse use cases that has potential for mainstream adoption and recognition. Several other content hosting services are expanding the collection of 360-degree video content on the popular video streaming platform YouTube. This will mean that you will now be able to watch any video at an angle of 360 degrees.
However, you will only be able to enjoy the places on the metaverse that are in the recorded content, not your neighborhood streets and parks
web real-time communication
An exploration of the metaverse blockchain use cases will also point to potential applications of the metaverse in facilitating realtime communication in the web experience. Web real-time communication refers to an open source initiative that provides real-time communication capabilities to mobile applications and web browsers.
Web real-time communication You don’t need an intermediary server to transfer communications between customers. The value of PEER to PEER communication in the Metaverse could open new avenues for direct communication between browsers.
Virtual Office and Learning Space:-
As you all are aware that how the Kovid-19 pandemic had forced all of us to be imprisoned in our homes. At that time, the education of children was also going on online and the offices of elders were also running online. Meetings were also being done online, studies were still online through video calls. If the same method was used in the metaverse, then just imagine that you would be virtually present in your school sitting at your home and in your office meeting sitting at your home. For example, companies from different sectors became familiar with Skype calls, Microsoft Teams and Zoom meetings during the pandemic. The Metaverse can also help offer experiences where you feel like working together or learning or reading in the same room.
Recently a company called Virtuworx has started the work of creating virtual office space. The company has developed a hybrid of VR and mixed reality environments with digital avatars (Avatar which we discussed earlier) to provide a meaningful and productive work place experience. A company can access various functional events such as offices conferences residential training and trade shows with customizable solutions by using it
If we talk about educational institutions, then there are limitless possibilities of using metaverse. Schools are using online platforms such as Minecraft and Second Life to enhance the learning experiences of students. Also VR simulations in the metaverse and therapy can help students practice their skills. Students studying medicine can be made to study the internal key of the body through 3D models and many other things can be used in their studies.
Benefits of health facilities
If we talk about the benefits of the metaverse in health facilities and health science, then many surprising uses can be revealed. Firstly, the metaverse may offer favorable prospects for enabling interaction between patients and healthcare professionals, despite geographic restrictions. In addition, virtual reality simulations can provide engaging and immersive learning experiences for medical students.
Through the Metaverse, many other types of technology and research can be promoted in the health sciences.
Building a new economy
The most prominent of the many assumptions regarding the Metaverse would be the facilitation of a producer economy. It will facilitate the trading of assets between users in different locations, for example you can sell NFTs created in metaverse games on other platforms. DeFi (decentralized finance) which is a technology based on blockchain technology, the economic potential associated with metaverse blockchain use cases such as NFT and the game of blockchain, also shows how it can lead to an entirely new economy.
In addition, the metaverse will allow businesses from different physical locations to participate in a single market economy without trade barriers. If you explain this to you in simple words, it will mean that the borders of the country and abroad will not be able to stop the trade, it will become a single center of trade in the metaverse. However, it is still a matter of discussion that how much effect the world’s borders, treaties and restrictions have on it. But at its core businesses will be able to do business freely without geographical barriers.
Top companies developing Metaverse in 2022-
META –
The company is the main company in developing the Metaverse to live in a vast network of real-time 3D virtual worlds while maintaining identity and payment history for users and players. He has recently announced to develop a record breaking supercomputer. They have also selected the European Union to develop this technology to create more jobs in Europe.
NVIDIA
This company is one of the top companies working towards building the metaverse. They have developed a software called Omniverse which is based on programming to create the metaverse and they have also distributed free copies of it. It is becoming a popular company developing this technology by supporting artists as well as content creators to build virtual worlds and products.
MICROSOFT
Microsoft is a popular company for developing this technology, focusing on developing a range of metaverse applications on its platform called Mesh. In order to provide the new features, it is also making a new augmented reality chipset for the Metaverse in collaboration with the company Qualcomm. Microsoft is one of the leading companies in developing this technology by updating AltspaceVR to make this technology more secure for users and players.
EPIC GAMES
Epic Games is at the forefront of the big companies developing this technology with a significant wave of development and new technology. The company has announced a $1 million investment for METAVERSE development in 2021 to pave the way for game developers to explore the plethora of opportunities in Web 3.0. It has also invested in this SPIRE animation studio to port story assets like worlds and characters to the Metaverse.
Metaverse itself is such a big concept that we could not describe it completely in one of our articles. In this article, we have tried to fully explain to you what is metaverse and what is the use of metaverse.
If you want to know about the words that came in this article such as Blockchain, Cryptocurrency, or NFT, then we have also mentioned all these in other articles given on our channel. You can understand them better by reading the article written on Bitcoin and Blockchain and Blockchain Technology on our channel.
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