The metaverse is defined by a virtual-reality space in which users can interact with a computer-generated environment and other users. But what does this mean for us? As we all know, technology has become an everyday practice in today’s world. The more we study it the more possibilities become a reality; the metaverse being one of them.
Imagine being able to enter an entirely new world in the comfort of your own home. Virtual reality (VR) and/or augmented reality (AR) headsets have made this possible. These headsets have become increasingly more advanced along with their popularity. “The metaverse may allow people to engage in various online experiences in a more immersive way.” – Introduction to the Metaverse. Para 2, written by Meghan Chen
Let’s compare, for instance, a traditional remote work day, with what a remote work day could look like in the metaverse. Work meetings, conferences and events that normally take place remotely could instead take place in the metaverse. Implementing the metaverse into our daily work activities could lessen the disconnect from a screen and allow for more natural social interactions and ignite better collaboration between colleagues. Not only could you attend these sessions, but you could also interact face to face with everyone else that has logged into the metaverse. Similarly, remote education could flourish in the metaverse, allowing students to feel like they’re in the same room as their classmates and teachers. The metaverse could turn online learning into a more interactive and engaging space for students. As we continue to advance and discover the possibilities with this technology the metaverse may become a major aspect of our lives in the future.
History and Future Development
The idea behind the metaverse is not entirely new; a shared virtual world has been around for quite some time. In 2003, an online platform called “Second Life” was launched and is still around today. Second Life is centered around its users creating their own avatars and interacting within that virtual world. In the past 10 to 20 years, technology has improved immensely, allowing better graphics and more realistic physics in gaming. This will allow virtual platforms, similar to Second Life, to become more realistic and interactive. In addition, the COVID pandemic propelled remote working and education as well as online social events.
“In April 2020, more than 12 million people attended Travis Scott’s Fortnite concert. On the back of these developments, many technology companies, such as Meta, Apple and Microsoft, are developing products and services related to the metaverse”. – Introduction to the Metaverse. Para 3, written by Meghan Chen
As we continue to integrate advanced technology into our lives, platforms such as the metaverse will become the new normal in how we communicate with each other in the future.
“As Web 2.0 and smartphones did over the past two decades, the metaverse may radically evolve our digital experiences. The potential market opportunity has been estimated at over $1 trillion in yearly revenues, and many companies are increasingly engaging in this space. For example, Meta spent around $10 billion in 2021 on Reality Labs, its division focused on the metaverse.” – Introduction to the Metaverse. Para 9, written by Meghan Chen
If you are interested in learning about the investment opportunities currently available in the metaverse, please don’t hesitate to contact us.
Have a great weekend,
Tracey and Paige
Article written by Paige Marshall.
Reviewed and approved by Tracey Marshall.
Source:
https://www.fidelity.ca/en/investor/investorinsights/digital-assets/introduction-to-the-metaverse/
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