Overview:

Metaverse might sound unique word for you. But, this term has been used in dystopian sci-fiction novels in 1992 authored by Neal Stephenson. The name of the novel is Snow Crash.

Metaverse simply means a virtual world that helps people interact by using their digital avatars.

So, through Metaverse you, if staying in Kathmandu, can have dinner with your family living in New York.

Metaverse is composed of two words viz. Meta and Universe.

Lexico dot com defines the word Meta as "denoting a position beyond or denoting something of a higher kind".

And, the meaning of the universe is well known to you all.

Now we can conclude that Metaverse is a virtual universe beyond the present real universe but feels like a real universe.

Present Scenario of Metaverse

Metaverse is a concept as of today and no one is certain that how it looks like in the future.

Metaverse is a virtual universe that requires devices like smartphones or computers for its access. But, are these devices enough to experience the reality of Metaverse?

You also need additional hardware devices for the absolute user experience. Those devices are Virtual Reality (VR) headsets, Augmented Reality (AR) glasses, gaming consoles, etc.

Meta is expecting to develop VR headsets through the project named Cambria. The project is expected to be released next year as per CNBC dot com reports on October 28, 2021.

The CNBC further mentions that AR glasses are being developed through the project named Nazare but will take several years.

Other infrastructures required for Metaverse experience are in the phase of development. The metaverse dream of Zuckerburg is expected to become true in the coming decades.

In the present scenario, the Metaverse concept is limited to gaming and cryptocurrency only.

The metaverse requires innovative technologies and infrastructure that are yet to be developed. The current technologies and infrastructure will not be sufficient to accommodate the 3D digital space.

In addition, complexity in regulations, security threats, privacy concerns, control issues, etc may worsen the situation.

Companies involved in metaverse development

Many companies have endeavored to transform Neal Stephenson Metaverse concept into reality. The list of such companies are:

-Facebook

-Microsoft

-Nvidia

-Epic Games

Facebook first conceptualized the idea in 2014 by launching Oculus, a virtual reality company. The company launched Horizon Workrooms and Horizon Worlds for virtual meetings and virtual gamings respectively.

In 2021, Microsoft launched a mixed reality software called Microsoft Mesh. By using Mesh you can have shared experiences from anywhere and on any device.

The industrial purpose metaverse platform is being built by Nvidia.

Epic Games developed Minecraft, Fortnite, and Roblex for virtual meetings, virtual gaming, virtual exhibitions, and virtual concerts

Benefits of Metaverse

It is believed that metaverse will expand the market for hardware and software beyond imagination.

There will be enormous opportunities for business and market innovation and product marketing.

Education and learning will take place on e-platforms with enhanced interactions.

It is expected that the complexity and issues of blockchain technology will be addressed by metaverse.

This concept might expand the current economy to a more extensive virtual economy.

Harms of Metaverse

The metaverse requires innovative technologies and infrastructure that are yet to be developed. The current technologies and infrastructure will not be sufficient to accommodate the 3D digital space.

The concept may ruin the human relationship and the present society. It may also create a threat to humanity.

Privacy and security concerns may not be addressed properly. In the current scenario, the Meta is criticized for its security breaches.

In addition, complexity in regulations, security threats, privacy concerns, control issues, etc may worsen the situation.

Conclusion:

Metaverse is a virtual universe beyond the present real universe but feels like a real universe.

The concept is not new. This concept has been used in dystopian sci-fiction novels in 1992 authored by Neal Stephenson. The name of the novel is Snow Crash.

Metaverse is not a single entity. Instead, thousands of entities are expected to be implemented. Some will be successful and some might fail.

Some forms of metaverse concepts exist in today's scenario. The virtual reality concept is being implemented in gaming, sports, entertainment, hosting events like conferences, meetings, and job fairs.