In broad terms, The Metaverse is a simulated digital environment that incorporates augmented reality (AR), virtual reality (VR), and blockchain technologies, as well as social media ideas, to create areas for user interaction that resemble the actual world.

However, such locations don’t need to be solely accessible through VR or AR. A Metaverse virtual environment may exist, such as portions of Fortnite that can be accessed through PCs, gaming consoles, and even smartphones. Nowadays, Decentraland and Sandbox are the most popular avenues to access the Metaverse.

The Path Towards the Metaverse

While the name “Metaverse” may not be very familiar to many, this breakthrough concept has existed for almost three decades. An American science-fiction novelist, Neal Stephenson invented the Metaverse in his 1992 book Snow Crash. The book (like others in its genre) depicts users escaping from a future, primarily bleak world through the Metaverse.

The digital industry has steadily laid the groundwork for a non-fictional Metaverse over the last three decades. Furthermore, the ergonomics and pricing of virtual reality headsets have improved. The worldwide internet penetration rate, as well as the popularity of online gaming environments that pave the way for the Metaverse, have been steadily expanding.

In 2021, a plethora of companies have expressed their interest towards the Metaverse, with one of the notable ones being Facebook, who changed its word into “Meta”, as a sign of its pledge towards this novel technology. According to its proponents, the Metaverse is the next step in the evolution of the Internet.

As the Metaverse expands, it will develop online places that enable more complex user interactions than present technology allows. Rather than just watching digital information, Metaverse users will be able to immerse themselves in a realm where the digital and physical worlds converge. Bloomberg estimates that the Metaverse is expected to reach $ 800 billion in value by 2030.

Overall, the Metaverse will bring several modifications to our world:

• Along with two-dimensional digital worlds, users will now have access to an immersive reality that they may visit on occasion.
• Content makers and designers (particularly those skilled in 3D modeling and virtual reality environment creation) should anticipate new possibilities in the years ahead.
• The Metaverse enables the emergence of a new economy in which wealth may be generated, exchanged, and increased via the use of a money different from but connected to the real-world currency.

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