What Is Metaverse Technology

Recently you may have listened about something called the metaverse. But what is metaverse? And when will it get here?

Facebook CEO Mark Zuckerberg recently declared that Facebook will now be known as Meta. “Meta” means “beyond” in Greek, but the word was also picked to reflect the company’s loyalty to being a metaverse company.

What is Metaverse?

Metaverse is a hybrid of multiple elements of technology, including virtual reality, augmented reality, and video where users live within a digital universe.

It can be used for many items: meetings, visiting a factory floor, onboarding, or training. Almost every HR and talent-related program can be redesigned for the Metaverse. “The ‘metaverse’ is a set of virtual spaces where you can create and explore with other people who aren’t in the same physical space as you.”

What Is Metaverse

History Of The Metaverse

In 1992 novel Snow Crash in that book is set in a dystopian future where people spend much of their time in a virtual world called the metaverse. But at that time no one could know what the reality would look like. So while it was true, at the time, that “the internet” was coming, not every idea of what that would look like is real.

Is Doing Business In Metaverse Possible?

The metaverse would be the next big thing of the internet and the social media world.

  • Users can log in via virtual reality (VR) this extends up new brand engagement opportunities, from trying out apparel to exploring a piece of real estate.
  • Users can be situated anywhere in the world, removing any geographic barriers in e-commerce.
  • Users will be equipped with a digital wallet in the Metaverse, which makes purchase transactions more seamless.
  • Users will be able to teleport freely around the Metaverse so that they can participate in Meeting Online.

Risk In Metaverse

Facebook already participating in data mining, it’s no wonder that people are afraid of this continuing, or even intensifying, in a future metaverse.

Facebook has promised that the future metaverse will be built on selling virtual interests, which means advertising, which in turn means data collection on individuals.

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When Will The Metaverse Get Here?

Mark Zuckerberg notes that the Metaverse could take several years to build. However, you can expect a launch of sorts within the next five years, as, by 2031, Zuckerberg hopes to sign on a billion users to its metaverse platform.

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