METAVERSE
Today the metaverse is quickly becoming a big buzzword an innovative new technology fuelling the third version of the internet or Web 3.0. It is essentially a paradigm shift for the internet. The internet it self is a robust and evolving technology. Web 1.0 dissolved geographic boundaries while Web 2.0 transformed the way information is shared across social channels Facebook, Twitter and blogs. Web 3.0 is new web technology based on blockchain, artificial intelligence, token based economics( like Non-Fungible Tokens- NFTs) and the much published metaverse at the forefront of driving future internet technology.
The metaverse was born from Neal Stephenson’ s sci-fi novel called‘ Snow Crash’ which became a TV series. In his story the metaverse is a 3D virtual world populated by avatars of people who interact in a range of experiences. The next filmed version was with Steven Spielberg’ s 2018 movie called‘ Ready Player One’ a novel by Ernest Cline which serves as an escape from the dystopian future.
What is the Metaverse? The metaverse is not a new category of technology that users are engaging with but rather a fundamental shift in how we interact with technology. It is a digital experience with a combination of immersive technology, virtual reality and augmented reality not happening in the physical world. It is a digital interaction where humans interact as avatars.
Our connectivity is irrespective of where we are in the physical world, we can convene and share information freely but the metaverse allows us to do this in an immersive, interactive 3D world.
Matthew Ball, an investor and expert on the metaverse wrote the,‘ The Metaverse Primer’ believes the best definition of the metaverse is:‘ A massively scaled and interoperable network of rendered 3D worlds which can be experienced synchronously and persistently by an effectively unlimited number of users with an individual sense of presence, and with continuity of data, such as identity, history, entitlements, objects, communications and payments.’
Thanks to Facebook changing their name to Meta has put a stake in the ground on their intentions to change focus be a leader in the metaverse. With the introduction of Meta’ s Oculus Rift, metaverse technology became more accessible enabling everyday consumers to enter their own virtual world. Along with Mark Zuckerberg of Meta, Satya Nadella of software behemoth Microsoft also says that the metaverse is the future of the internet. Microsoft recently purchased gaming company called Activision Blizzard for
SA Real Estate Investor Magazine FEB 2022 19