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What is the metaverse?

 

Unless you live under a rock, with no news and no internet, you've heard of the "metaverse" (or "metaverse").

Indeed, since Facebook's sudden renaming to Meta, all news sources have only the metaverse in mind.

But as such, what is it? How it works? And, above all, what is the point of developing a metaverse?

What is the metaverse?

The metaverse in a combination of a multitude of technologies, including augmented reality, virtual reality and many others, which allows users to live in a fully digital world.

Users will be able to play together, host dinner parties, celebrate birthdays, travel the world, and basically do pretty much anything we can imagine.

The metaverse is therefore, in short, a digital world with real people (represented by digital avatars) who can interact with each other and with the world.

Not that complicated, right?

As such, Zoom, Skype or Microsoft Teams are already some form of metaverse. In effect, you are digitally “present” on the screen (in a virtual room), you see static images, a video or an avatar that represent those with whom you are chatting.

How will the metaverse be used?

The metaverse can be used for pretty much anything. Whether it's to train firefighters to react well in the event of a fire, to show new interns around the offices, to visit family who lives on the other side of the world, as long as you have the imagination (and the technology) almost everything will be possible on the metaverse.

Imagine how shopping for clothes will be easier. No more going to the store to fight for fitting rooms, no more leaving your home. Try virtually and order!

 

Where does the term “metaverse” come from?

The term “metaverse” was originally used by author Neal Stephenson in his 1992 book “The Virtual Samurai” (Snow Crash in English).

In his book, the Metaverse was an imaginary place that was available to the public through a network reachable only with a virtual reality headset.

In this world, developers could create buildings, parks and a ton of other imaginary and futuristic things.

The importance of the metaverse

Although the first iterations of the metaverse will most likely be far less exciting than those found in science fiction books and movies, these will still bring astronomical value to our society. Even many futurists and entrepreneurs believe that the metaverse will change human beings forever.

Surely you are already beginning to understand the importance that the metaverse will have in our lives.

But why should you care about the metaverse?

As an investor, your main goal is to grow your assets. The metaverse is, according to many, the technology that will revolutionize our lives just as the internet did in the 1990s.

The.com gold rushin the 2000s is already happening in the decentralized world of cryptocurrencies where we can already see metaverse projects grow by 1000% in just a few days.

Participating in its projects is absolutely essential for any investor who wants his share in the "pie" of the metaverse.

Imagine, we have the opportunity to own and “early adopt” a technology that will inevitably occupy an extremely important place in our society.

The usefulness of the metaverse has no limit. And the possibilities of making money in the field also do not have any.

What are the pros and cons of the metaverse?

The inevitability of the metaverse predicted by futuristic giant tech companies such as Microsoft and Meta creates many questions about the “pros” and “cons” of technology.

Here they are:

The good side of the metaverse

In the metaverse, we can do anything! And when we say anything, we really mean anything!

Whether you want to visit the depths of a volcano, play tennis on the moon, visit Monaco with your family or anything else, it will be possible thanks to the avatars and digital worlds that will (one day) photo-realistic!

You just have to connect to the metaverse through your computer (or any other device that will be invented) and voila!

And this is only one of the many positive sides of the metaverse.

Here are some more:

  • The metaverse will allow people with disabilities to do things they never could in real life.
  • The metaverse will facilitate, make more interactive (and above all more fun) all learning processes.
  • The metaverse will allow families separated by borders and thousands of miles to see this more often.

The bad side of the metaverse

Although the metaverse will not be developed with bad intentions, it does not mean that the metaverse will not bring a negative side to our society.

Several adversaries to the metaverse point out the following negative sides of this technology:

  • The metaverse will be able to create a whole new kind of dependency.
  • At some point, it will be very difficult to discern reality from the virtual world.
  • The metaverse may cause and facilitate the development of mental illnesses in young people.

How to invest in the metaverse?

The cheapest way to invest in the metaverse and by investing in cryptocurrency from metaverse games such asAxie Infinity (AXS),Decentraland (MANA)WhereSandbox (SAND)since there is no minimum amount you can invest in these decentralized projects.

You can invest in these tokens through the majority of cryptocurrency exchanges including:

  • Binance
  • KuCoin
  • FTX
  • Coinbase

If you don't really want to invest in digital tokens and prefer a more "visual" asset, you can also venture into the NFT world of these decentralized games.

For example, you can buy virtual land in Decentraland or Sandbox on the exchanges ofNFTs such as OpenSeaor by purchasing one (or more) Axie.

However, the negative aspect of NFTs is the price. Indeed, these are very expensive (most of the time). For example, land prices in Decentraland or Sandbox start in the thousands of dollars.

Otherwise, if you are not comfortable investing in cryptocurrencies, you can also invest in traditional stocks of companies that intend to develop a metaverse or are simply closely related to this technology.

For example, Meta (Facebook), Microsoft (MSFT), and Roblox (RBLX) are three stocks very strongly tied to the concept of the metaverse.

If you are interested in discovering more investment options in the metaverse, we invite you to take a look at our following article:

 

Some notable examples from the metaverse

Here are some notable examples from the metaverse:

1.     Meta: The social media giant previously known as Facebook shared its vision for the metaverse in a “rebranding” conference in fall 2021. In its vision, Meta shares with us a virtual and interactive world which, according to founder and CEO Mark Zuckerberg, could replace the internet as we know it today. According to the conference, Facebook (or Meta) would have embarked on the development of the metaverse since its acquisition of the company ofAmerican virtual reality Oculus in 2014.

2.     Minecraft: It's no secret that for years the virtual world of Minecraft has gathered hundreds of millions of players around the world. Much like the metaverse, the platform allows its players to create different game rooms and creates communities (and even economic systems).

3.     Microsoft: The company created several decades ago by the American billionaire Bill Gates has announced the expansion of these operations in the metaverse. Indeed, the company reveals that for a few years they have been working on an augmented reality platform called Microsoft Mesh, which will combine virtual reality with augmented reality. Among other things, the US Army is currently using the Hololens 2 augmented reality headset to train soldiers.

4.     Roblox: Founded in 2004, the platform (or video game), allows its users to create games in which players can create houses, work, communicate and even exchange virtual items. Since the company is listed on the stock exchange with a market capitalization, with billions of dollars in market capitalization, the CEO of the company David Baszucki mentions several times that the platform is currently heading towards the development of the metaverse.

5.     Epic Games: Current Epic Games CEO Tim Sweeney has mentioned several times that Epic has invested heavily in creating the metaverse, including theMetaHuman Creator, a tool that will potentially allow us to create our photorealistic metaverse avatars in the future.

Conclusion

Whether you like it or not, the metaverse is the next big thing not only in the investment world, but also in our everyday lives.

Just as the internet and smartphones have changed our society, the metaverse will do the same (if not even more) in the coming decades.

The impact of the metaverse on our lives will be 100% up to us. How we're going to use it, how we're going to regulate it, and most importantly how we're going to democratize it.

We are on the verge of a real technological revolution and about to mark the history of humanity.


If you liked this article, do not forget to share it on social networks!

Plus, share your thoughts on the metaverse in the comments below!

 


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