What’s the metaverse?

The metaverse is like this virtual reality of networked 3D worlds where you can socialize, work, shop, and play. It blurs the line between real life and digital life, bringing together virtual, augmented, and physical reality into this visually stunning world that you interact with using an avatar.

Defining the metaverse is still kind of tricky because it’s not an actual technology. Instead, the metaverse points to a shift in how we interact with technology. As we keep exploring and building up this new cyber realm, the meaning of the metaverse is bound to change.

Right now, when we talk about the metaverse, we’re talking about using virtual and augmented reality, avatars, and digital ownership, stuff that’s already pretty familiar in the gaming world. In a sense, the metaverse is this mix of the internet and online gaming, where you’ve got this customizable avatar that’s mingling with other avatars in an online community.

But even though this paints a picture of the metaverse as it stands today, these technologies aren’t like crucial to the metaverse concept itself. From how it is now, the metaverse could evolve into this open, interconnected network that might just replace the mobile internet as we know it.

Components of the Metaverse

A. Virtual Reality (VR) and Augmented Reality (AR)

Central to the Metaverse experience are technologies like VR and AR, which create realistic, interactive environments. Users can navigate these digital realms using specialized headsets or devices.

B. Blockchain and NFTs in the Metaverse

Blockchain technology plays a crucial role in the Metaverse, ensuring security, transparency, and ownership of digital assets. Non-fungible tokens (NFTs) enable users to buy, sell, and trade unique virtual items within the Metaverse.

C. Social Interactions and User Avatars

One of the defining features of the Metaverse is the ability for users to interact with each other in real-time. Personalized avatars allow individuals to express themselves and engage socially within the digital space.

What is the genesis of the metaverse?

The evolution of this concept can be traced through key technological milestones that currently influence our understanding of the metaverse, as elucidated by experts:

In 1938, French poet and playwright Antonin Artaud introduced the term virtual reality in his collection of essays, The Theater and its Double. Artaud envisioned a scenario where characters, objects, and images could be harmonized to construct intricate and immersive worlds.

Fast forward to 1962, where American filmmaker Morton Heilig constructed the Sensorama. This device replicated the sensation of riding a motorcycle through New York City by incorporating elements such as a 3D movie, a vibrating chair, a fan, and even smells. According to John Licata, Vice President and Chief Innovation Foresight Strategist at SAP New Venture Technologies Future Hub, “The Sensorama was a groundbreaking advancement that laid the foundation for the potential of immersive virtual environments.”

In 1984, Jaron Lanier, an American computer scientist, musician, and virtual reality pioneer, established VPL Research, Inc. This company played a pivotal role in the development of early virtual reality (VR) technology, introducing one of the first VR headsets and data gloves. VPL Research showcased demonstrations illustrating the potential applications of virtual reality in both commercial and artistic domains. Alex Weishaupl, Managing Director at Protiviti Digital, noted that while there were previous experiments and conceptualizations, Lanier’s VPL Research took a significant step by commercializing goggles and gloves to facilitate interactions in augmented and virtual reality.

Moving ahead to 1989, English computer scientist Tim Berners-Lee laid the foundation for the World Wide Web during his tenure at CERN. This marked a revolutionary advancement from existing text-based sharing services like Gopher and proprietary bulletin board systems. Berners-Lee’s invention open-sourced both client and server components, establishing a linked network of web pages featuring text, graphics, and audio.

In 1992, American science fiction writer Neal Stephenson introduced the term “metaverse” in his novel Snow Crash. The book portrays a dystopian future where affluent individuals seek refuge in an alternate 3D interconnected reality. This alternative realm initially takes the form of a singular 65,536 km road encircling an artificial globe, expanding as users acquire, construct, and enhance virtual properties. In Stephenson’s envisioning, a unified world emerges, linking everyone through this shared virtual space. Users are responsible for crafting their avatars, ranging from intricately artistic custom designs to more affordable, mass-produced alternatives from Walmart humorously dubbed “Clints” and “Brandys.”

In 1993, Israeli computer scientist Moni Naor and American computer scientist Cynthia Dwork pioneered proof-of-work techniques as a deterrent against spam and denial-of-service attacks. This software necessitates participants to solve a complex cryptographic challenge, which is easily verifiable. These foundational concepts were subsequently formalized and became the underpinnings of Bitcoin.

In 2003, Linden Lab revealed Second Life, a collaborative 3D virtual environment that enables users to explore, engage with others, construct objects, and trade virtual goods. This digital realm set the precedent for the concept of a shared virtual world and has consistently expanded since its inception, boasting over 70 million registered Second Life accounts to date. “Prominent entities such as IBM and Coca-Cola invested substantial efforts in exploring how this 3D platform could enhance customer interactions and employee experiences, concepts that are once again being tested in today’s metaverse,” remarked Weishaupl.

Fast forward to 2006, when Roblox emerged, providing users with the capability to create and participate in massively multiplayer games crafted by fellow users. This platform facilitated the testing of innovative game ideas, with a scalable infrastructure to rapidly propel the most successful creations. Additionally, Roblox enables users to design and sell new items. The platform experienced a surge in adoption during the Covid-19 pandemic, accumulating a user base exceeding 200 million.

In 2007, Google expanded its Maps functionality by introducing Street View, enabling users to navigate a virtual representation of the real world on a large scale. Weishaupl noted that beyond the captivating immersive experience, Google demonstrated innovative and straightforward methods for creating extensive digital replicas of physical environments for exploration.

Moving to 2009, Satoshi Nakamoto, operating under a pseudonym, successfully creates the first Bitcoin and launches the inaugural public blockchain, employing a proof-of-work algorithm. This cryptocurrency gradually becomes the most valuable, showcasing the potential of decentralized ledgers in safeguarding trade on a broad scale. The surge in interest fueled by speculative activities leads to exploration of alternative cryptocurrencies and research into novel approaches for establishing decentralized markets free from the influence of any single entity.

In 2010, the gacha video game model makes its debut. Players engage with toy vending machines (gachas) to acquire currency and in-game rewards through a combination of luck and skill.

In 2011, Ernest Cline released the futuristic novel Ready Player One, depicting a world set in the 2040s where humanity seeks refuge in a virtual realm known as OASIS. This virtual world not only serves as an escape but also boasts the world’s most stable currency. The novel’s popularity led to a 2018 movie adaptation directed by Steven Spielberg, further popularizing the concept of a shared virtual space.

In 2012, Israeli entrepreneur Yoni Assia introduced Colored Coins through a blog post titled “bitcoin 2.X (aka Colored Bitcoin) – initial specs.” This innovative concept laid the groundwork for a novel approach to creating, buying, selling, and owning assets on a public blockchain.

The same year, American entrepreneur Palmer Luckey launched the Oculus on Kickstarter, marking the introduction of the first affordable 3D hardware for the general public.

In 2014, Facebook acquired Oculus, playing a crucial role in expanding the 3D infrastructure to support the virtual reality platform.

In 2014, the inaugural non-fungible token (NFT) was brought to life by two Americans, namely Kevin McCoy, an artist, and Anil Dash, a tech entrepreneur. This groundbreaking creation marked the genesis of a new era, where unique cryptographically secured virtual assets paved the way for exploration in realms such as virtual art, concert tickets, and innovative play-to-earn experiences. According to Frank Palermo, the executive vice-president and head of technology at Virtusa, a digital engineering consultancy, the rapid growth and widespread acceptance of this paradigm stood as a crucial milestone for the metaverse.

Moving forward to 2015, Ethereum made its debut, thanks to the collaborative efforts of Canadian programmer Vitalik Buterin and English computer scientist Gavin Wood. This blockchain platform introduced features that facilitated the development of decentralized applications (dApps). Weishaupl noted that Ethereum’s practical implementation of smart contracts laid the foundation for revolutionary offerings like NFTs, enabling individuals to ‘own’ assets in a distributed environment.

The year 2016 witnessed the introduction of Pokémon GO, a game that acquainted the world with augmented reality (AR) experiences overlaid on the physical world. Players utilized their smartphones to locate, capture, and engage in battles with virtual creatures seamlessly integrated with specific physical locations.

In 2016, the Ethereum blockchain witnessed the launch of The DAO, an early decentralized autonomous organization focused on raising venture capital funds. However, a month after its initiation, hackers managed to siphon off a significant portion of its funds, leading to the demise of the company. Despite the setback, this event sparked the inspiration for innovative models in collectively purchasing assets and managing organizations.

Fast forward to 2018, the video play-to-earn game Axie Infinity, developed by the Vietnamese studio Sky Mavis, gained prominence for integrating Non-Fungible Tokens (NFTs) into the Ethereum blockchain. It reached a peak of over 2.7 million users during the height of the pandemic in 2021, making it the most valuable play-to-earn game. Unfortunately, in 2022, hackers compromised the system, stealing around $600 million.

In 2019, Epic Games’ Fortnite achieved unprecedented popularity as the most widely used shared virtual world, boasting over 250 million active users. The platform expanded to support various virtual games and experiences. Notably, in 2020, rapper Travis Scott hosted a virtual concert within the Fortnite universe, attracting more than 12 million participants. Epic Games further integrated the platform into popular enterprise applications for geographic information systems, design, and infrastructure.

By 2021, Facebook’s parent company rebranded as Meta and introduced an ambitious vision for the metaverse. With an investment exceeding $10 billion, the renamed company aimed to develop new hardware, software, and services to support this emerging digital realm. This initiative sparked widespread interest as companies of all sizes began aligning their existing offerings with the metaverse concept, leading to a surge in Google search rankings for the term.

In the same year, Microsoft unveiled Mesh, a novel platform promising to synchronize virtual collaboration. The company highlighted the potential of metaverse experiences through Mesh to enhance enterprise workflows in areas such as meetings, construction, and film production.

In 2022, Siemens and Nvidia joined forces to pioneer the industrial metaverse. This concept leverages Nvidia’s Omniverse collaborative engineering environment and Siemens’ comprehensive platform of digital twin tools across aerospace, healthcare, manufacturing, automotive, and energy industries. Roland Busch, president and CEO of Siemens AG, emphasized the transformative potential of photorealistic, physics-based digital twins embedded in the industrial metaverse, offering a virtual space for people to interact and collaborate in solving real-world problems.

What is required to enter the metaverse?

The prerequisites for entering the metaverse vary based on the type of virtual experience you seek. While the metaverse is still in its nascent stages, you can gain insight into its potential by crafting a unique avatar and exploring existing platforms. Here are essential elements you may need to connect to the metaverse:

1. Internet Connection: A reliable internet connection is crucial for optimal metaverse exploration. Bandwidth-intensive virtual worlds with numerous participants demand a stable connection for an immersive experience.
2. Computer, Tablet, or Mobile Device: To fully engage with the metaverse, you’ll need a device connected to the internet. While a mobile device or tablet suffices, a PC or robust laptop is recommended for a comprehensive experience.
3. Virtual Reality Headset: Although optional, a virtual reality (VR) headset enhances immersion in the metaverse. It provides a more lifelike experience, enabling interaction with the virtual reality environment in three dimensions.
4. Digital Currency: Similar to the real world, some metaverse platforms utilize digital currency for acquiring digital assets such as non-fungible tokens (NFTs), services, or unique experiences. Being equipped with digital currency facilitates participation in various metaverse activities.

• What exactly constitutes Facebook’s metaverse?

•Meta, the rebranded identity of Facebook, signifies the company’s strong commitment to the Metaverse. The Horizon series, a set of metaverse platforms developed by Meta, mirrors the social interaction focusof Facebook. These platforms create virtual environments for various activities such as events, social gatherings, and collaborative efforts.

• Nevertheless, Meta’s venture into the metaverse is still in its infancy. The company has invested substantial amounts, reaching into the billions, to advance metaverse technologies. CEO Mark Zuckerberg is a staunch advocate of the metaverse, recognizing its potential to profoundly reshape how we engage in online work, leisure, commerce, and daily life.

• What are the potential hazards associated with the metaverse? • Similar to other online platforms, the metaverse carries risks like cyberbullying, social engineering, and identity theft. The metaverse, by further blurring the boundaries between virtual realms and reality, has the potential to amplify the detrimental effects of malicious online activities.

• The risks of the metaverse also introduce new challenges, particularly concerning metaverse crypto usage. Several platforms necessitate users to possess a crypto wallet, serving not only as a repository for digital assets but also linked to one’s online identity. Adhering to digital literacy and understanding netiquette rules can enhance safety while adapting to the metaverse. Employing two-factor authentication is always advisable to safeguard accounts against potential hackers.

Securing Yourself in the Metaverse

As virtual environments evolve to become more immersive, the emergence of virtual crimes, such as assault and theft, raises concerns parallel to their real-world counterparts. This phenomenon underscores the concept of virtual realism, suggesting that events within virtual reality can carry comparable significance to those in the physical world.

The increasing attachment users have to their virtual identities adds complexity to this issue. To navigate the metaverse safely, it’s crucial to be aware of various scams and crimes:

1. Harassment and Abuse: In the virtual realm, stalking, bullying, intimidation, and other threats are prevalent. Malicious users can escalate their behavior by physically assaulting a victim’s avatar, posing a significant concern.
2. Theft: Malicious actors can target metaverse users, robbing them of virtual assets like cryptocurrencies, non-fungible tokens (NFTs), collectibles, land, and custom items. Hacking into accounts to steal personal information is also a risk.
3. Fraud: Cybercriminals may use fake identities or false information to commit fraud, such as selling counterfeit virtual goods or services. Phishing attacks, impersonation of well-known users, and deploying fake apps are tactics to gain trust and steal user information.
4. Virtual Extortion: Criminals may resort to intimidation, forcing users to surrender digital assets or sensitive information.
5. Money Laundering: Metaverse cryptocurrencies are susceptible to money laundering due to their difficulty to track. Cybercriminals exploit this by laundering money using cryptocurrency or NFTs.
6. Identity Theft: A user’s digital identity in the metaverse is represented by their avatar, making them a target for malicious attackers looking to steal digital assets and access exclusive features.
7. Malware: Hackers can infect metaverse platforms or user devices with malware to steal virtual accounts or assets.
8. Social Engineering: Exploiting the social interactions in the metaverse, cybercriminals manipulate victims into scams or reveal sensitive information.

By being informed about these potential risks, users can take proactive measures to protect themselves and enjoy a safer experience in the metaverse.

Conclusion

In conclusion, the Metaverse is not just a technological phenomenon but a cultural and societal shift. As we navigate this uncharted territory, balancing the benefits with ethical considerations will be crucial in shaping a Metaverse that enriches rather than diminishes our lives.

FAQs

A. What are the primary technologies powering the Metaverse?

The Metaverse relies on technologies like virtual reality, augmented reality, blockchain, and artificial intelligence to create immersive and interactive digital spaces.

B. How is the Metaverse different from virtual reality?

While virtual reality is a component of the Metaverse, the latter encompasses a broader concept of interconnected virtual spaces where users can interact, socialize, and engage in various activities.

C. Are there any risks associated with using the Metaverse?

Yes, risks include privacy concerns, potential for digital addiction, and issues related to cybersecurity. Users should be aware and take measures to protect themselves.

D. Can businesses benefit from embracing the Metaverse?

Absolutely. Businesses can explore new avenues for marketing, collaboration, and customer engagement within the Metaverse, offering unique and innovative experiences.

E. How can individuals protect their privacy in the Metaverse?

Individuals can protect their privacy by understanding platform settings, using secure authentication methods, and being mindful of the information they share within virtual spaces.