What is Metaverse? How it Works and its Important Role in The Development of Technology

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Metaverse is a new chapter in the development of the world of technology that has brought humans to digital interactions. Metaverse has played a role as a world of entertainment that can affect various industry sectors.

Such as music, commerce, and other industries. Well, the following information will explain in detail what the metaverse is and how it relates to crypto. Let's look at the following information.

What is Metaverse

Metaverse is a virtual version of a digital space that is useful for various purposes in real-world aspects. Both for interaction between humans or in an economic function.

Simply put, the metaverse is a space that refers to the virtual world and is similar to real life. Such as land, buildings, avatars, and people can buy and sell using crypto currency.

In this real world, people have carried out activities such as making friends, visiting certain places, buying and selling, and so on. The world of the metaverse is the same, but it's more virtual.

Linguistically, metaverse is a word that comes from meta which means beyond. And verse which means the universe. So that people can interpret the metaverse is a space that contains material to go beyond all things that can be seen in the real world.

Why is the Metaverse Important?

The metaverse plays an important role in the development of the global economy and society in general. In future realizations, Facebook wants to be at the forefront of shaping the metaverse.

Namely by investing heavily in virtual reality. Mark Zuckerberg as CEO of Facebook has explained his views on the metaverse.

The metaverse expands and connects spaces such as social media with 3D technology. One day this technology might be similar to Ernest Cline's fictional oasis, "Ready Player One".

However, for now, users can only access games in a virtual work environment. As well as social media platforms for virtual reality to enjoy various metaverse experiences.

And in the future it is not impossible if the two spaces will be integrated into one. To do confluence and operate and eventually become a single metaverse.

Of course, technological development is something that will continue to grow indefinitely. In that case, there are many factors that become the reason someone makes technological developments.

Metaverse is no exception. The presence of the metaverse is a means to create a virtual world that feels real. So that it can create various benefits for its users.

Such as making convenience, comfort, and feeling the sensation of the world without distance. And all humans cannot be free from this ever-evolving technological development.

What are the Characteristics of the Metaverse

Experts consider that the concept of the metaverse is similar to the description in Ernest Cline's fictional story, "Ready Player One". So, to see the metaverse, it is necessary to recognize the following characteristics.

1. Persistent

Metaverse will continue to develop without any pause. Even in the future this metaverse technology will never end. Because the experts will continue to develop it for future technological developments.

Given the metaverse provides many benefits for its users. Like the comfort of being in a virtual world. Moreover, today's society is increasingly dependent on existing technology.

2. Real Time

Virtual space in this metaverse is not really a new space. But it was designed before people used it. So, the developer has done the metaverse space design for its users.

However, users will still be able to experience real time usage. So that it feels more real when in the virtual world.

3. Economic Function

Because the developers made it to feel the virtual world like the real world. So that this metaverse is also fully functional in the economic sector.

In the virtual world of the metaverse, there are also buying and selling transactions like in the real world. There are various products and services using blockchain-based native currencies.

4. Bridge with Real World

This metaverse consists of two things, namely virtual reality and augmented reality. Both of which work differently. For virtual reality, the system only works to present things virtually.

As for augmented reality, it works the other way around. Metaverse works to connect the virtual world with the real world through digitization. So it seems as if the virtual world and the real world have no limits.

5. Open Space for Users

Another interesting thing about the metaverse space is the role of its users. Which acts as the largest content contributor. Of course this is a change from the previous concept.

Previously, content and experiences were created jointly by companies and users.

How are Crypto Linked in the Metaverse World?

Crypto is one of the investments that is quite popular these days. Not only curious, but many also use it in business functions. Simply put, crypto is a digital currency that is still a problem in society. There are pros and cons in viewing the digital currency.

For people who judge pro, consider the many advantages of using this crypto currency. Namely avoiding inflation, high fluctuations, clear profits, no central bank legality, and many others.

So what does crypto have to do with the metaverse? The huge popularity of crypto in recent times has made application developers see this as an opportunity.

Some people have believed that crypto will provide huge profits in the future. As John Herman from the New York Times said that the startup Wenew will sell Non-Fungible Tokens (NFT).

Which he later sells in the form of important people's moments or referred to as a metaverse memory palace. In addition there is also Arthur Madrid, CEO of Sandbox who is pro with crypto.

He said that blockchain and cryptocurrencies will play an important role in the future growth of the metaverse. So in this case, a lot of those who are crypto pros will welcome the metaverse with the best response.

Metaverse Competition - Facebook And Microsoft

Seeing the potential of the metaverse in the future will continue to grow, Facebook has taken the first steps to square off its plans. In addition, the company is already planning to release Augmented Reality (AR) glasses in the future.

As CEO, Mark Zuckerberg is optimistic about acquiring Virtual Reality (VR) technology from startup Oculus. Mark said in his recent podcast that Facebook will develop VR and AR technology. Which technology can make someone feel teleported from anywhere. And do socialization digitally to feel real presence.

Not only Facebook, but technology companies like Microsoft are also developing metaverse technology. Even Facebook and Microsoft are still dominating the development of the metaverse going forward.

The company Microsoft has created the HoloLens AR headset for the purposes of its current business activities. However, this service is currently not fully accessible to the public.

This is because of the price tag if you want to use it. That is for $ 3,000. Even now big companies like Apple are also carrying out plans regarding their headsets.

Reportedly, it is estimated to be released in 2022. If big technology companies like Facebook, Apple, and Microsoft support the metaverse, then other companies must be prepared. They have to follow the rules that their competitors apply.

That's some important information related to the metaverse. Technology that continues to develop will make the metaverse continue to run without stopping. Metaverse is a means of connecting the real world and the virtual world without limits.

Meta Description: Metaverse is a digital virtual space that functions for the benefit of the real world aspect. Users will feel the virtual world feels real.