METAVERSE: WHAT IS IT AND HOW DOES IT WORK?
Metaverse, derived from the combination of the English word “universe” and the Greek word meaning “beyond,” can be translated as “beyond universe.” As such, Metaverse defines a universe beyond our current social reality, a ‘meta’ or ‘beyond’ world. In this new realm, individuals can create fictional characters and socialize in a completely different universe from the real world using Augmented Reality (AR) technology.
Who Founded Metaverse?
There isn’t a single founder or owner of Metaverse. The concept has evolved through a combination of augmented reality and blockchain technology with social media, shaped by all its users. Metaverse is thus considered a decentralized virtual universe shaped by technological and economic changes.
While Metaverse might be understood as an advanced version of VR (Virtual Reality) technology, no VR application has encompassed such a vast universe design until now. The most notable precursor to this design is the game “Second Life,” a life simulation game from 2003, where users can create profiles, choose appearances, professions, and interact with others.
The Gateway to Metaverse: Growing Interest in Virtual Reality Headsets
As interest in the Metaverse universe grows, users are turning to virtual reality headsets to experience it. These devices, which allow users to feel like they’re in a specially crafted virtual environment, enable individuals to engage in realistic interactions while being fully immersed in a virtual environment.
With the development of Metaverse projects, sales of virtual reality headsets are also increasing. According to market research firm TrendForce, sales of virtual reality headsets reached around 9.86 million units in 2021, almost doubling to approximately 14 million units in 2022. The report also predicts sales of over 18 million units in 2023. Additionally, a report from IDM previously estimated sales of 35 million virtual reality headsets in 2026.
Why Does Metaverse Excite People?
When considering Metaverse, it’s essential to evaluate it alongside the internet, social networks, computer games, virtual reality and augmented reality headsets, Internet of Things (IoT) devices, cryptocurrencies, high-speed internet (5G), and artificial intelligence. Breakthroughs in each of these technologies are opening doors to a new virtual world previously unimaginable. This convergence is perhaps what excites people about the concept of Metaverse.
Metaverse is not merely a concept anymore but has become a tangible reality. It defines a virtual world associated with the real world, where individuals can control their avatars in a virtual environment using various hardware devices such as keyboards, gamepads, goggles, and cameras. They can produce digital content, communicate with others, and generate economic value through these interactions.
While some view Metaverse as simply the three-dimensional (3D) model of the internet, others interpret it differently. For some, Metaverse is not just an environment but also a period—a time when the virtual world becomes more significant than the real one. Over the past 20-30 years, a transformation has been underway, with the virtual world becoming increasingly valuable. People now build their social circles through social media, finding friends in virtual environments.
In conclusion, Metaverse represents a significant shift in how we perceive and interact with digital space, offering a glimpse into a future where the boundaries between the physical and virtual worlds blur.
What Will Metaverse Impact?
Metaverse will make it easier for brands and sellers to reach users directly without intermediaries. Instead of trying to reach users through millions of websites like the internet, they will be able to reach users through a much smaller number of virtual worlds. Instead of each brand communicating with its customers through its own website, shopping will be facilitated through mutual interaction in a virtual world. Big technology companies like Apple, Microsoft, Meta (formerly Facebook), and Amazon will likely want to be major players in this field by making massive investments. While offering virtual products may be trendy today, in the next five years, the trend will likely shift towards designing more comprehensive and detailed virtual worlds that provide immersive shopping experiences.
In conclusion, whether you consider the Metaverse as a new concept or just a marketing move, it’s evident that we are moving towards a new world where real life and the virtual world blend together.
While some of the claims about the Metaverse are already coming true, we may have to wait for others. To take advantage of the opportunities brought by such transformations, it’s advisable to stay away from misinformation and thoroughly research the products and services offered before using them.
How to Buy Land in the Metaverse?
Investments in the Metaverse world are usually made through cryptocurrencies. Platforms have their own designated cryptocurrencies and accept payments with these currencies. Another common payment method that stands out in buying and selling transactions in the Metaverse is payment through NFTs (Non-Fungible Tokens).
First, you need to determine the Metaverse platform where you want to buy land. There are several prominent platforms, each with independent virtual worlds. Once you have identified the platform you want to invest in, create an account on that platform.
After creating your account, identify the plot of land you want to purchase. It’s worth noting that the land you purchase should not have been sold yet. Determine where to buy based on your investment budget and available plots.
Next, you need to link your digital wallet to your account on the platform. To do this, you need to have a digital wallet. Metamask is currently the most widely used and accepted digital wallet on the market, compatible with many Metaverse platforms.