The Metaverse is the name of a collective virtual universe inhabited by persistent digital characters and accessible through VR headsets or computer terminals. The word "Metaverse" was coined in 1992 by mathematician and science fiction author Neal Stephenson in his novel "Snow Crash". Since then, several attempts have been made to create such a virtual universe, but none have been successful so far. However, the current rise of virtual reality and augmented reality could make this dream a reality. This article presents some of the platforms currently developed for the Metaverse and their advantages.
Augmented reality platforms for the Metaverse
Augmented reality (AR) is a technology that superimposes a computer-generated image on the real world to create an augmented (or enhanced) version of reality. The most common use of this technology is in the development of virtual reality (VR) or computer generated imagery (CGI) games, where digital characters are superimposed on real-world scenery. In the context of the Metaverse, AR would be used to overlay digital content onto the real world so that users can see and interact with it. Several augmented reality platforms already exist, but they are not being used for the Metaverse.
The most widely used platform in this context is Microsoft's HoloLens 2, which allows users to see the real world with a laptop, virtual reality headset or tablet. HoloLens 2 has been available since 2015, but is not yet used for the Metaverse.
Another example of a platform is Apple's ARKit, a set of software tools for iOS and iPadOS that allows for the creation of augmented reality apps. The ARKit platform was first released in 2014 and has since been used to create apps that allow users to see virtual objects in the real world. Developers can use the platform to create augmented reality apps for iOS or iPadOS that allow users to see content in the physical world.
Blockchain-based VR platform
The blockchain is a distributed ledger that stores data on a network of computers. It is used to create decentralized systems and networks where users can securely store and share information without the need for a central authority. Blockchain can be implemented in a variety of industries, including healthcare, education and financial services.
A blockchain-based virtual reality platform allows users to create and use virtual objects in the virtual environment. These objects are registered using blockchain technology, which means that they are verifiably unique and cannot be copied or tampered with. The advantage of using a blockchain-based VR platform is that it allows users to create tamper-proof digital objects that can be used in different virtual worlds. The most well-known blockchain-based VR platforms are:
- Decentraland
- VibeHub
- Ceek
- Gazecoin
- Voxelus
- Cappasity
Decentralized VR platform based on blockchain
Rather than storing user data on centralized servers, this decentralized blockchain-based VR platform stores data across a network of computers. This solution is beneficial because it secures data from cyberattacks and protects users' privacy. It also allows users of the metaverse to access to their data from any device connected to the Internet. The VR platform Decentralized also has built-in mechanisms to detect and combat online fraud. For example, it can detect and block fake identities or identities of people who have been paid to leave fake reviews on the platform. Currency flows are also much more secure in this context.
Why create a Metaverse?
It is common to see questions around the value of using the metaverseThe Metaverse will allow users to create and inhabit virtual worlds, where they can interact with digital characters with artificial intelligence, explore new environments and participate in virtual events. The virtual world can be customized by its owner, who can decide to make it free or charge users to access it. A virtual world can also be used to advertise products and services. When the owner of the virtual world earns money from advertising, he or she can create new features for free for users. The Metaverse will change the way people meet and communicate, and it could have a huge impact on the economy. It could create a $1 trillion VR industry and generate $100 billion in revenue per year by 2020.
Who will build the metavers of tomorrow?
The virtual world is a rapidly growing field and is attracting many companies. Building Metaverse is not an easy task, but with the help of proper tools and know-how, companies can build their own virtual worlds for their own customers. There are many companies that build virtual worlds and compete for the market. Here are some examples of companies that build virtual worlds :
- Microsoft has built a virtual world called "Metaverse" where customers can play online games.
- Facebook, which is now called meta, has not been the precursor but the actor who has most spread the buzz around the metaverse recently
- Google and Amazon are also companies that have or are imagining the construction of virtual worlds in synergy with their ecosystems
Most companies that build virtual worlds have a lot of experience building their own virtual worlds.
How to invest in the metaverse?
Investing in metavers has been one of the best investment opportunities over the past decade. Most of the companies that build virtual worlds are in the start-up phase and are therefore companies that need significant funding.
Investors in the metaverse can buy a number of shares in these companies, including shares directly related to the major players in the sector (Meta, NFT, Decentralandor indirectly with the support companies that will be necessary for the growth of the metaverse (Unity, Nvidia, Autodesk, ...). Indeed, investors who wish to buy Metaverse shares can choose to buy a part of the capital of a metaverse company, or a group of shares of a group of companies that are in the start-up phase or that have not yet been put on the market.
Obviously the world of the metaverse and cryptocurrencies are closely related and investors in crypto like Etheureum (ETH) or Bitcoin (BTC) are necessarily exposed to the evolution of metavers. Investing in metavers and the world of cryptocurrencies is an investment opportunity to be seized and some cryptos are more exposed than the two above like MANA to name but one.
What are the requirements for creating a Metaverse?
Before building a Metaverse, you must meet the following conditions:
- It must be accessible to all users.
- It must have an adequate network infrastructure.
- Security and confidentiality must be ensured.
- Users must have access to the services and tools they need to do business in the real world and in the Metaverses.
- It should be designed to allow for the creation of a digital life.
- It must have an ecosystem of partners and vendors to keep the Metaverse running, such as cloud, network and security providers.
Conclusion
The Metaverse is the collective virtual universe that will be the next step in the evolution of the internet. VR and blockchain are the two platforms that could help make it happen. Virtual reality is a computer-generated simulation of a virtual world, where users can interact with each other through VR headsets or computer terminals. It remains to be seen how the adoption of this new technology will be done and under how much time (equipment in VR helmet, confidence towards the blockchain and the use of these new currencies, understanding of NTF and the system of token, ect...) in any case more and more individuals wish to try the metaverse to try the experience.
