Into The Metaverse – Metaverse Meaning, Key Terms, Examples & More

So what is this latest buzz about us becoming a part of the so-called ‘metaverse’? Why did Facebook change its name to Meta? It’s quite apparent that lots of tech giants like Microsoft, Amazon, Facebook are investing millions into this ‘next level’ of the Internet. Plus, the fundamental blocks needed for building the metaverse are already available out there.

Our marketers and analysts at Parkyd Digital decided to delve into the depths of the metaverse, and here’s a brief discussion of what they found!

 

What does metaverse mean?

According to the vision of metaverse enthusiasts, it is a new place where humans & artificially intelligent bots can interact with each other. Here, you can do a lot of things like playing games, socializing, shopping, and conducting business. However, much of all these things are in the future at present. Right now, the whole concept is just that, a concept, in the form of unrelated experiences and a bunch of hardware & software applications. Nothing is connecting these elements together just yet.

An excellent example of the metaverse in its beginning stages is the Horizon Workrooms by Facebook where users can access a virtual workspace using the Oculus Quest 2. Those who cannot join a conference through a VR headset are also allowed to participate, and their video feed shows up on a screen inside the virtual conference room.

Possibilities of buying real estate in virtual realms like Cryptovoxels and Decentraland are also emerging. In fact, if you have bought cryptocurrency non-fungible tokens (NFTs), you have taken a step into the metaverse.

 

So what’s the actual thing like?

Tech leaders such as Mark Zuckerberg have a very distinct metaverse in mind compared to what we are seeing right now in bits and pieces. What’s currently under construction will have a complete package of objects, a currency of its own, and various other utilities, connected together via an interoperable environment.

Right now, what we are doing is accessing the online realm with the help of a controller or headset. Despite how immersive they are, VR headsets can be quite awkward at times. Jumping into the actual metaverse will be as seamless as physically watching movies with friends without having to actually go with them, through 3D holographic projections.

 

Key terms that you will be getting used to soon

The metaverse virtual reality does not come without its own technical lingo that you should know about as a part of understanding the concept.

• Assisted reality - If you can use a piece of technology to view a screen and interact with it using handsfree controls, that’s assisted reality, for instance, RealWear devices.
• Augmented reality - This refers to any tech that combines a real-world setting with computer-generated pictures, for example, virtual home staging used by realtors.
• Meatspace - The physical world as we know it.
• Multiverse - In the context of the internet and social media, this term refers to the distinct universes of Facebook, Instagram, Twitch, Discord, Youtube, Twitch, Roblox, etc. where individuals can socialize, shop and play. 
• Virtual reality - An immersive artificial experience requiring a headset, for example, VR training sessions set and games that are engineered to take you to different virtual worlds.

Real-life metaverse examples

Currently, training seems to be the most common usage of the metaverse. Healthcare and manufacturing were among the first to enable augmented reality and mixed reality experiences for their employees. On the other hand, the entertainment industry has successfully started offering VR experiences to customers.

• Sports & entertainment - Professional sports mirrored live in 3D will also be a part of the metaverse. The first 3D sports match was an MMA bout shot using 106 cameras.
• Training - National Aeronautics and Space Administration (NASA) utilizes both VR and AR onboard the space station to operate robots remotely or perform maintenance tasks using AR assist.
• Healthcare - Augmented reality is mainly used by doctors to achieve collaboration, Using Microsoft’s HoloLens, surgeons can view patient data, access 3D images of scans, and connect with other experts.

 

Why did Facebook change its name to Meta?

Mark Zuckerberg declared at Connect 2021 that Facebook and other associated applications were being rebranded under one umbrella corporation called ‘Meta’. To justify this move, he mentioned that the new name reflected the brand new emphasis of the company on the internet’s next variant.

There is still much left to be developed for constructing the metaverse that many hope to see in the near future. Till then, the best thing we can do is try and learn about it so as to be ready to embrace the technology when it finally arrives.

 

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