What a Wonderful World: Metaverse explained

 Imagine you could enter into a new universe without leaving this one, Imagine you could leave this reality and create yours, create a wonderful new world.

The word "Metaverse" was first coined in 1992 by Neal Stephenson in his novel "Snow Crash", it was a virtual place where characters could go to escape reality. The year is 2022, who would have thought an idea from a novel decades ago would come to be.

The word takes its root from the Greek word "Meta" and the English word "universe". Meta means "after or beyond"... Therefore the word means "beyond the universe". 

What is the Metaverse?

The Metaverse is a 3D version of the internet, a virtual universe that simulates and enhances our physical world and its technology. In this world, users will be able to interact and socialize like in the real world.

The coinage of the word is accredited to Neal Stephenson but about who owns the Metaverse? The answer to that would be everyone, but no one. This is because many companies are looking to create their own metaverse.

Notable among such companies is former social media company "Facebook" (now known as Meta). In October last year, Mark Zuckerberg announced that the company will now be known as Meta. Facebook has said it wants to be known as a Metaverse company.

"...we believe the Metaverse will be the successor to the mobile internet, we'll be able to feel present… like we're right there with people no matter how far apart, we actually are…" 

-Mark Zuckerberg

Some other companies working on developing metaverse technologies include ROBLOX, NVIDIA, MICROSOFT etc.

How does the Metaverse work?

This question will be answered perfectly in about five or ten years from now, because for now the metaverse tech is still hypothetical and is yet to undergo full development. 

However, for now what we know is that the Metaverse will make use of a combination of technologies to be able to function properly. Some of which include: Augmented reality (AR), Virtual Reality (VR) and Blockchain technology.

The metaverse will combine the AR and VR to be able to create a virtual and interactive world where users can socialize, work, and carry out some other activities. It will also be able to allow users to own digital assets in forms of NFTs, cryptocurrencies and Metaverse tokens, now this is where blockchain technology comes in.

To break it down for you, I'll put on my VR headset, and then proceed to attend a Davido concert with my avatar in the metaverse. My friends would be able to tag along too. We would be able to access the venue by buying tickets virtually, and after the concert I could still hang out with them, then go to my house which I bought with my metaverse tokens. 

I would be practically living on the internet, awesome stuff.

Frequently Asked Questions about the Metaverse

The metaverse is the future and many of us want to know about it, let me answer some frequently asked questions.

• How do I join the metaverse?

To join a Metaverse, you'll first of all require a Virtual Reality headset (such as the Occulus Quest 2) and a smart device such as a smartphone or laptop. 

You'll need a cryptocurrency wallet for your financial transactions and ownership of digital assets on the metaverse. 

You then proceed to choose a Metaverse to join (e.g Decentraland, Roblox, The Sandbox), create your avatar and explore your new world. In the future, there is hope that all metaverses will be connected to create a central metaverse.

Interact, socialize, play games, have fun and enjoy your new reality.

How do I invest in the metaverse?

Get a cryptocurrency wallet, You'll need one to be able to trade on the metaverse. 

Buy and sell metaverse tokens and metaverse coins, store and trade your digital assets such as your NFTs. 

• Can the metaverse work without the blockchain?

Blockchain technology controls an important aspect of metaverse features, this involves the ownership and exchange of digital assets. Trading of NFTs, metaverse tokens and cryptocurrency can only function with blockchain tech. 

Though the virtuality and interactiveness of the metaverse can function by virtue of AR and VR, the blockchain still remains an important component in the metaverse functionality.

• Is Metaverse the future of the internet?

Yes!

In the metaverse, we see a whole new innovation by the combination of some various aspects of technology. Augmented Reality, Virtual Reality, Web3 and Blockchain technology are all coming to play a role to create a wonderful world.

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