Neal Stephenson coined the word “metaverse” in his 1992 science-fiction novel “Snow Crash.” In the novel, “metaverse” refers to a virtual reality-based digital world, where citizens of LA wear VR goggles and gadgets to perform real-life activities virtually.

Its characters enter the metaverse to scape a bleak world where corporations wield the influence of governments.

The term skyrocketed in popularity last fall when Facebook changed its name to Meta. Since then, many have taken an interest in what the “metaverse” actually entails. Some are even finding it within their interests to secure a bit of #VirtuaRealEstate.

The Metaverse is a Technology

Metaverse is a technology that wants to revolutionize human behavior and interaction. Some experts predict that one day, it could replace physical reality (I wonder what´s wrong with physical reality, but that´s a different story).

There´s not ONE metaverse, we should be talking about #Metaverse technology, because there are many different platforms, and #Facebook Meta is just one of them.

The Metaverse is not a self-contained thing, you will be able to advertise something on a building in the real world and it will be visible with the VR devices.

A Digital World

The Metaverse is a virtual space or ecosystem built to depict the realism of the physical world, and allows users to work, play, have fun, or even build homes.

It is basically a digital world that features multiple technological elements that allow for Virtual reality (VR), augmented VR, and physical reality and serves as the bridge between the real world and the virtual world.

From my point of view the Metaverse is basically 3D Internet. But today, as we watch it evolve, it is mainly is three things:

  • A social experience: A 3D #VirtualReality, #AugmentedReality (VR/AR) world controlled by AI;
  • Community Governed: run by Decentralised Autonomous Organisations (#DAOs);
  • Self-Sustaining ecosystem: Financially sound, enabled by Tokenomics and cryptocurrencies.

The Money

The most compelling reason VCs are pouring so much money into the Web3, DAO, Metaverse, and NFT sub-niches is the potential to extract untapped economic value in intangible assets, specifically intellectual property. Also, as KPMG enters the metaverse, the Big 4 firm calls multitrillion-dollar estimates ‘conservative’.

But reality -right now- is that the metaverse is mostly an overhyped branding exercise for a series of virtual worlds some of which are dependent on VR headsets to access.

The Future of Metaverse

How to access Metaverse? Everything you need to know.

But a lack of clear definition and distinction between related technologies complicates discussions around the #regulation and protocols required to sustain metaverses, and mitigate their potential adverse effects.

Over the next ten years, the metaverse will develop toward immersive experiences in hyperreal virtual environments populated with avatars that look and sound exactly like us. Today, nearly all of the avatars and virtual environments in the metaverse are painstakingly created by artists and creators as digital renderings.