What Is Metaverse? Upcoming Technology Which Will Break All Records.

METAVERSE 

 The tech industry loves a buzzword. And right  now, everyone’s talking about the meta-verse. Broadly speaking, the metaverse can be  defined as a virtual world where we can live, work, travel and play but it doesn’t actually exist yet, and just like Gaudi’s cathedral, the Sagrada  Familia, it may take a while to complete but that hasn’t stopped businesses of all shapes and sizes from trying to get involved J.P. Morgan, HSBC, Gucci and Coca-Cola are among a few of the firms that have  dabbled with the metaverse so far and of course, there’s Meta, the  company formerly known as Facebook.

NEW IDEA OF LIFE  

While the metaverse is still mostly science fiction at this time, there are some early versions of it out there  that give us a taste of what might be possible. Here at Mobile World Congress in Barcelona, many of them are on display. Many in the tech industry claim that the  metaverse is the next phase of the internet. Companies like Meta are hailing it  as this sort of utopia that will make the time we spend online more interactive and fun .They also say it will present businesses  with new ways to make money. A lot of money. One report estimates that the metaverse economy  could be worth between $8 and 13 trillion by 2030,but getting there is going to  require significant investment.                        

 The metaverse, we think, is something that has already been with us. It’s in essence, the digital world, with  things like our smartphones, the web, gaming. We’ve always been in the metaverse .It’s not something that’s going to turn on in a single day .We’re looking at how to make  those things more immersive, how to make those things more accessible .How do we make those things better for humanity,  and how do we make those things safer as well. Alongside the hype have been a whole host of  concerns, ranging from child safety to scams ,which is why regulators will no doubt be  keeping an eye on how the technology progresses. 

BETS ON METAVERSE 

The companies here in Barcelona have  placed their bets on the metaverse’s show a wide range of demos on display .From SK Telecom’s “4D Metaverse” ride to an augmented reality demo from Qualcomm  that allowed you to swat virtual insects. It was actually kind of fun .One tech firm called Unity is trying to put  sports fans in the middle of the action .But what else is their  software being used to create? Sometimes it can be like an amazing magical  fantasy world where people ride unicorns and are dancing on the moon or it can be  something really ordinary like you want a 3D representation of what a new building is going to look like. What we’ll see is all of these different companies will be  creating their own subsets of that in the same way that the internet is the internet, but there are  many, many different websites for you to go to but are these demonstrations just gimmicks,  or are they a sign of things to come?.

CHALLENGES

The challenge with the  metaverse is it’s a very nebulous term. So, we’ve got Mark Zuckerberg’s Meta  vision of almost like an arcade game that you insert yourself into and then  we’ve got the more grounded version of virtual and augmented reality, which might  augment your life in a very simple way .No company has been more active and more  vocal about the metaverse than Facebook, which changed its name to Meta at the end  of 2021 to reflect its “all in” attitude. We are at the beginning of a long  journey. Meta had to do something that was a statement to grab people’s attention and if you look at the huge amounts  of money that they’re investing, they had to justify that investment. My personal belief is we’ve already  had an interesting step in the right direction with the pandemic because we’re  starting to live more blended lives.

We’re working from home. We’re  coming back to the office. Some of that will continue to exist and  there will be elements of that that will lend themselves to a metaverse-like ex-perience .Tech-nology companies are pumping billions of dollars into developing hardware that has the potential to act as a gateway to these metaverses.

ADVANTAGES OF METAVERSE :

• The metaverse is a highly scalable and suitable web of many Virtual Worlds used by many users it generates significant demand for goods and employment and helps create jobs for developers creators and designers metaverse needs big processing and immense demands of data this generates demand for sensors and semiconductors in headsets such as infrared Force strain and ultrasonic sensors.
•  Technologies used in the metaverse are becoming beneficial for their domains it provides better benefits and many opportunities for all stakeholders.
• It generates a boost to e-commerce and creates a virtual economy customers can easily engage with businesses and items cryptocurrencies and Nfts are becoming increasingly popular and widely used metaverse improves social media networks such as Facebook and Twitter.