Millennials are the generation who don’t know how many changes they have to experience in their lifetime. The world has turned into a new package after 90’s. Internet is grabbing a new attention, computer generations are upgraded unprecedently, space science announcing new updates about our universe every day, James web telescope will tell the tales of origin of our universe. We started communicating without a visible medium that we couldn’t think before 50 years. Just after the invention of internet we are thinking about making a virtual universe called Metaverse. Techies believe that it will be the heiress of internet.
However, Metaverse is the immersive (Third dimensional) digital world which will try to give us the taste of physical world digitally. According to Mark Zuckerberg Metaverse is the successor of internet. Basically, the word “Metaverse” first appears in front of everyone in 1992 through a sci-fi novel of Neal Stephenson named “snow crash.” This American writer devised a 3D virtual dominion that’s ingressed by VR (Virtual Reality) headset. Stephenson was thinking what should he call this extramundane dominion where people can enjoy most of the important daily life events without attending physically. A catchy word hit his mind: “Metaverse.” Just after 30 years Metaverse has become a burning issue in all over the world. A fictional novel of 30 years, back is about to real now. This is called the power of thinking.
Metaverse is a combination of different technology like AI (Artificial intelligence), Blockchain, Digital currency and IoT (Internet of Things). AI will help us to portrait our physical world in a detailing way. Every movement in this digital shared space will be unique and identifiable with the help of blockchain technology. In addition, every movement in this meta world will keep a digital footprint. That’s why your every movement is utterly yours which will ensure more privacy and security. Different IoT (Internet of things: Everyday internet devices which connected to each other to exchange data over the internet) devices facilitate us to enter into the digital virtual universe. Though Metaverse is called the successor of internet but we can’t think Metaverse without internet.
Moreover, AI is about to become a behemoth in the tech industry. Tech giants don’t hesitate to invest more than billion dollars in this emerging industry. Furthermore, the more AI will be easy the more implementable the Metaverse will be. On the other hand, the technology behind digital currency named blockchain is becoming attractive towards the techies. In the Metaverse, everyone has an own unique digital identity called Avatar. This avatar can own any digital accessories through digital currency which utterly his/her property. This nonfungible digital property is known as NFTs (Nonfungible tokens). Blockchain technology will ensure the proprietary of peoples NFTs in digital space because blockchain keeps a unique and identifiable digital footprint which helps to entitle the real owner of a digital property. Digital currency (Bitcoin, Dogecoin, Ethereum, Litecoin, XRP) is becoming a burning topic for the last couple of years. Technologists portend that in Metaverse digital trading or E-Commerce will be very popular and all that transaction will be come about through blockchain based digital currency. To get better Metaverse experience person need to use different IoT devices like VR goggles, AR devices or motion capture gloves. These devices will help to get precise quality of voice, expression and body movement which will transcend the experience of real world.
Till now techies portend that the core branches of Metaverse will be Entertainment, Manufacturing, Commerce and Education. For sure it won’t be bound in these industries the expansion of Metaverse will be immense. A study shows that 43% of manufacturing companies acknowledged that VR (Virtual Reality) and AR (Augmented Reality) technology will play a pivotal role in their industry within two or three years. Student could get a 3D illustration of any tough lesson just after wearing a VR headset. It is estimated that the size of education market in Metaverse will be approximately USD 32 billion within 2028. A Military officer can train his soldier with real warzone experience. A fashion freak person in Ghana can shop from a Gucci digital store in Italy from sitting on his/her couch. Metaverse is like a heaven for both game developer and gamer. A Research showed that Gaming industry in Metaverse will be USD 40 billion in 2030. Moreover, a gamer could get real life gaming exhilaration through his/her gaming avatar.
Technology is changing rapidly. It is quite impossible to predict what will exactly happen in future. People thought that internet would be a text-based messaging system at the time of the invention of internet. But after few years people’s usage experience has been changed radically. Therefore, we don’t know where Metaverse will take us away. But the fact is Silicon Valley grandees are taking it very seriously. Citibank predicted that the Metaverse market will be 13 trillion by 2030 and 5 billion people will use it directly or indirectly. It is time to be prepared for the technology of tomorrow which has already declared to supplant our familiar internet world in near future.
Md. Mikdad, Digital Marketing enthusiast, Completed Graduation & Post-Graduation from Jagannath University, Major in Marketing.