Virtual reality has beginnings that preceded the time that the concept was coined and formalised. In this detailed history of virtual reality we look at how technology has evolved and how key pioneers have paved the path for virtual reality as we know it today. The use of the term “virtual reality,” however, was first used in the mid-1980s when Jaron Lanier, founder of VPL Research, began to develop the gear, including goggles and gloves, needed to experience what he called “virtual reality.”
A virtual economy ,or sometimes synthetic economy is an emergent economy existing in a virtual world, usually exchanging virtual goods in the context of an Internet game. People enter these virtual economies for recreation and entertainment rather than necessity, which means that virtual economies lack the aspects of a real economy that are not considered to be "fun" (for instance, avatars in a virtual economy often do not need to buy food in order to survive, and usually do not have any biological needs at all). However, some people do interact with virtual economies for "real" economic benefit.
The geography of virtual worlds can vary widely because the role of geography and space is an important design component over which the developers of virtual worlds have control and may choose to alter. Virtual worlds are, at least superficially, digital instantiations of three-dimensional space. As a result, considerations of geography in virtual worlds (such as World of Warcraft) often revolve around “spatial narratives” in which players act out a nomadic hero’s journey along the lines of that present in The Odyssey. The creation of fantastic places is also a reoccurring theme in the geographic study of virtual worlds, although, perhaps counter intuitively, the heaviest users of virtual worlds often downgrade the sensory stimuli of the world’s fantastic places in order to make themselves more efficient at core tasks in the world, such as killing monsters. However, the geographic component of some worlds may only be a geographic veneer atop an otherwise non spatial core structure. For instance, while imposing geographic constraints upon users when they quest for items, these constraints may be removed when they sell items in a geographically unconstrained auction house. In this way, virtual worlds may provide a glimpse into what the future economic geography of the physical world may be like as more and more goods become digital.
Virtual spaces can serve a variety of research and educational goals and may be useful for examining human behavior. Offline- and virtual-world personalities differ from each other but are nevertheless significantly related which has a number of implications for self-verification, self-enhancement and other personality theories. Panic and agoraphobia have also been studied in a virtual world.
Reality is the conjectured state of things as they actually exist, rather than as they may appear or might be imagined.
A virtual world or massively multiplayer online world (MMOW) is a computer-based simulated environment.