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· 28 Nov 2021

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Easy Learning: 10 Fundamental Facts About the Metaverse

Technology thrives on innovations that seek to improve the quality of human life and make experiences more enjoyable. At some point the internet seemed like the best there could ever be, now, however, we see how there are endless possibilities such as the “Metaverse”. This term has been made more popular by the recent announcement by Facebook about its rebranding to “Meta”. The firm also expressed intentions of working together with other tech firms to create a metaverse that we can all benefit from in the nearest future. Meta CEO, Mark Zuckerberg made mention of the firm’s intention to hire 10,000 workers towards the actualization of this vision. Also, contrary to the usual buying out of competitors, Zuckerberg is optimistic that the success of the metaverse is hinged on collaboration.

Seeing as this innovation is in the works and we can already catch a glimpse of what it would look like when actualized, it is necessary to get acquainted with the concept. Let’s take a look at 10 fundamental facts about the metaverse to put this important innovation into perspective.

The “Metaverse” is not a new concept

The word was first featured in a sci-fi novel titled Snow Crash by Neal Stephenson. The book featured interactions between human avatars and certain software agents in a three-dimensional virtual space. While the concept of an alternate universe or a different world has found its way into numerous other sci-fi books and movies, this novel birthed a name deemed sufficient by technology enthusiasts.

The concept of the metaverse may be deeply rooted in the human desire to exist in a world where uncertainties are limited and where one’s level of control is increased. This innovation will revolutionize the way we learn, shop, work, and hang out with family and friends when it comes to being a reality.

There is no fixed definition

Many have tried to define the term “metaverse” but there has been no definition that covers it fully. This is understandable as the concept is largely in the works and we have only seen appearances of it. Metaverse is coined from “meta” which serves as a prefix depicting cohesiveness and collectiveness and “universe” which covers all things bound by time and space. It would not be out of place to hear someone describe the metaverse as “a more comprehensive universe”. This works because it is expected to provide a bridge or interface between the physical and digital worlds.

According to Matthew Ball, venture capitalist and managing partner of EpyllionCo, the metaverse will serve as a “platform for human leisure, labor, and existence at large”. He defines it as “a successor to the internet”. It can be said that the difficulty in finding a wholesome definition for this concept stems from the fact that we have not fully grasped the possibilities that a metaverse holds and how it will affect our lives.

Metaverse = Next level Iteration of the Internet

The metaverse has been referred to as a platform where different individuals and organizations are represented and can interact to a large extent, as they normally would in reality. We expect to see the metaverse take what the internet currently offers to the next level. Possibly, it will take our shopping experience on e-commerce sites from 2D to 3D experience. Here we would probably be able to try out clothes to see if they fit and observe items for their suitability for our needs before making a purchase.

The success of the metaverse will come with numerous benefits for all fields and businesses that currently use the internet. One of the many ways that we get to see that we are currently living in the pre-metaverse times is targeted ads. You search for a particular item online or click on an advert for such an item, only to find more of such adverts being pushed to you. This shows how technology has grown to be able to suggest things to you based on your past actions and experiences.


It will likely be a conglomerate of universes

Mark Zuckerberg’s admittance of a need to work together to build provide a metaverse that serves humanity properly is based on the understanding that the metaverse is not a monopoly. It is expected that it would consist of different universes and institutions in which users will be able to exist and interact as maybe, avatars. Games like those on Roblox give an insight into what is possible. These games are interconnected; set in different worlds that are linked to a single “omniverse”. However, for it to be more organic and have a closer feel to what obtains in the real world, these worlds should ideally be designed by different organizations.

It will also be great to see how much the concept of “digital twins” can be put to use in the metaverse. This usually involves the rendering of structures and places that exist in the real world in digital spaces. Such has been encountered in video games and sci-fi movies such as The Matrix. The concept has also found use in the creation of training simulations such as those used first used by NASA for space capsule simulations in 2010.

Job Creation and Revenue Generation

As part of the announcement of Facebook’s rebranding to “Meta”, the CEO, Mark Zuckerberg mentioned that the firm would be creating 10,000 jobs in the EU over a 5-year period towards the actualization of the metaverse. Since we have established that the metaverse cannot be monopolized, one can expect other firms to begin hiring more hands to enable them to contribute their quota effectively. This means that job openings for software engineers, graphic designers, project managers, and many others will be on the increase. This is great news considering how many jobs were lost in the heat of the pandemic.

The metaverse will also help entrepreneurs make the best use of quality human resources from all around the world. This can be likened to what we already see in the freelance marketplace. We can also expect that more jobs seeking people who understand the workings of the metaverse will surface. Hence, everyone has to be up to date with the progression of the metaverse vision, so that they can stay relevant in their field and the world where the metaverse exists and is part of our daily lives.

VR/AR/ER?

Virtual reality (VR) is a communication of sounds and graphics which depict completely virtual experiences. This can be seen in games and other software that we currently use. Augmented reality (AR) on the other hand positions elements of sound and vision in such a way that it interfaces with the physical world. These concepts are already at play in our world today with the presence of VR Headsets such as those made by Oculus which was acquired by Facebook. There have been questions about which of these will have a heavy influence on what the metaverse looks like. 

It can be expected that both VR and AR will reflect in this next iteration of the internet. This presentation would more appropriately be described as extended reality. It will serve as a platform where virtual and real elements can exist simultaneously and can be interacted with as much as we do with things around us.

It could provide a new way to learn, work and have fun

The year 2020 was a year of realization for many businesses of the fact that people can still work towards organizational goals from home. Meeting were held and critical decisions that influenced businesses were made online. People began studying and even completed courses from home last year more than had ever been. Internet learning using software like Zoom and Google Classroom showed what is presently obtainable. One can only imagine what influence the metaverse will have on our lives in these areas. The metaverse will lend more credibility to the claim that the world is a global village. 

People will be able to study, work, and have fun with family and friends no matter where they are physically. For example, we would be able to attend concerts, movie premiers, and the like at the same time as millions of other people around the world. Fortnite recently had Ariana Grande, Travis Scott, Diplo, Easy Life, and Marshmallow perform in its digital world. This was made possible by the expansion of their services to include brand events and hosting concerts. Microsoft’s contribution to the metaverse vision has been concerning the creation of virtual offices, as can be seen with Microsoft Mesh. We can expect improvements on what these applications currently offer going forward.

Where we are at present?

The majority of what we can see as regards the metaverse and its possibilities in our present world can be observed through games and software that foster remote working. The 2003 game Second Life may have been the first creation close to what we expect the metaverse to look like. Other games such as Fortnite and Active Worlds have also taken a cue and developed their kinds of universes. 

Numerous conversations have been going on about the metaverse since the announcement of Facebook's rebranding to Meta. These conversations have been about how such new developments are needed as revealed by the pandemic year. There have also been talks about what is possible and what isn't concerning digital infrastructure. Non-fungible tokens (NFTs) are digital assets that are owned on blockchain networks. People are already purchasing these with cryptocurrencies and this could be a depiction of what we can expect with art and real estate markets in the future.

What to expect?

In a world where the metaverse is fully functional, the distance between virtual and the real worlds will be bridged to a great extent. We would be able to own property in virtual worlds that can be exchanged for value and used in the generation of wealth. We would also be able to be present as a hologram at work meetings, conferences, or even concerts anywhere in the world. Meta verse technology holds immense possibilities for learning as students get to see how things work down to the sub-atomic level of concepts. Live demonstrations have always proven helpful in cementing knowledge during schooling. Creators will also not have to limit ticketing for their concerts, exhibitions, and shows to particular geographic regions. These experiences will be more immersive and participants will be able to enjoy the features as if they were there.

Concerns for the future of human relationships?

The possibility of the metaverse affecting human relationships negatively and taking away from the value of in-person experiences. Research findings have already linked depression to excessive social media use and the fear of missing out. One wonders what other adverse effects the metaverse could have on human relationships and the living experience as a whole. It is expected that information privacy will be even lower in the metaverse as companies will be able to access user information when they interact with their digital infrastructure. This would make Facebook's targeted ads the tip of the iceberg. 

The metaverse could also provide an escape from reality for people who have difficulty fitting in. This can lead to an increase in mental disorders such as anxiety and depression. The different universe in the metaverse will be created based on the beliefs and understanding of a few people and might clash with what other users desire. Companies will be forced to pander to the beliefs and ideologies that lead to the most engagements.


Conclusion

Like is common with technological advancements, there is the good and bad side. The possible problems that will come with the metaverse should not discourage us from enjoying the benefits. This iteration of the internet will be used to augment human experiences in virtual spaces and improve the way we learn, work, and have fun. It is expected that VR headsets and other accessories that help us access virtual worlds will become more rampant and will be instrumental in experiencing the metaverse. We must maintain an optimistic outlook on what it will look like and how it will benefit us.