Growth Potential of Metaverse Technology

The Future is Smart

What we once thought would be a dream has now turned into reality. All thanks to the technology which has given life to our ideas, connecting us virtually around the globe. There was a time when landline phones were the only option we had but now internet had made it possible to share content and information online on social media platforms or through virtual communities. Metaverse is becoming a dawning technology, swerving the internet and pushing us toward an unbarred virtual environment. Many people have envisaged that Metaverse is an attractive visual representation or a mirror image of the actual world. In a superficial sense they are on the right track. Literally and comprehensively, it is a shared digital environment and a 3D virtual world that allows people to connect, interact, and socialize with one other by means of their digital avatars. The community driven aspect and the element of synchronicity has heightened the appeal of Metaverse.

There are several different components that together make up Metaverse and will provide you a clear view of this technology. Let’s skim through these.

1. Infrastructure: Every platform or technology requires an effective and highly planned infrastructure to operate and connect with individuals. In case of Metaverse infrastructure include the internet access/Wi-Fi, servers, personal computers and technologies such as cloud computing.

2. Decentralization: Decentralization is one of the most useful component, which helps you to openly and easily access metaverse. Apart from that, it provides flexibility (there are no restrictions). Agility makes it possible for you to move within metaverse without a hitch, as there is no centralized authority involved. Blockchain and artificial intelligence are examples of technologies that assist in decentralization.

3. Interface: Interface technology is important as it facilitates users to connect and join metaverse. Some technologies including AR glasses, brain computer interfaces, and haptics have made it easier for users to be a part of metaverse.

4. Spatial Computing: For live animations and an utterly worthwhile and mesmeric experience you require spatial computing which includes modeling tools, gestural recognition, sensors and three dimensional visuals. These are the cornerstone of metaverse technology.

Metaverse in Gaming

There are a number of examples of Metaverse technology that highlights the potential growth of Metaverse and shows how it can transform and reshape the world in the future. In gaming world, gamers can buy apparel, accessories and other objects to enhance their player’s appearance and performance. This technology can also be used in real world and customers can virtually try the outfit before buying it. Similarly, through a digital model of their home interior they can get a preview of the furniture and other home décor items (they might choose to buy) to see how it looks and fits, before making an actual purchase. Here are few examples of Metaverse technology and how it is being used in gaming:

1. Second Life: This is a 3D platform which came about in 2003, and provides real time interactions to its users. People can also make their own personalized avatars effortlessly and unrestrictedly.

2. Decentraland: By inculcating 3D visuals, decentraland imitates reality and is based on Ethereum blockchain. It is a digital game where users socialize and engage with each other digitally. They can create and design their own digital environment, exchange items such as wearables for their avatars, and can even buy or sell their property.

3. Sandbox: Sandbox is also a metaverse game where players can monetize, sell, and share their property or assets in a virtual world. In return, they can receive real world money. This game is also made using Ethereum blockchain model.

Metaverse's success is grounded upon factors and technologies that make it more immersive and attractive for the users, in particular Augmented Reality (in which an interactive form of physical world is provided to the users by using effects and components such as sound, batteries, chips, visuals, graphics, texts etc.). Investors must do in depth research and reach out Metaverse professionals for an opinion before investing in this technology. One must carefully make a decision because Sandbox and many others such games are in their fledgling stage. Also, investing in cryptocurrencies is unpredictable and extremely volatile as prices continue to waver, just like what happened back in 2022.