Metaverse 101: Basics You Need to Know

When a giant tech company introduced us to “Metaverse”, it sounded as if we were taking a leap into the futuristic world in some popular sci-fi movies. Yet, it is actually nothing entirely new to us—the citizens of the digital world. 

Metaverse was first coined by Neal Stephenson in his 1992 sci-fi novel, Snow Crash. In the novel, Metaverse refers to a shared online space that connects physical, augmented, and virtual realities—basically how the current Metaverse is described. Some might define Metaverse as Web 3.0, the next chapter of the internet, or even an alternate reality that is an additional layer on top of our physical world.

In brief, we can say that Metaverse is an online platform where physical and digital worlds meet, allowing new experiences driven by technological advancements. Metaverse is also decentralized, meaning that it is not owned by a single entity, making it a free space with fewer limitations on who and how many people can access it in a more immersive way.

But How Does It Work? Is It Practical?

Many of us have already had a glimpse of how Metaverse works. Especially if you are tech-savvy, you are probably a part of an online platform where people have their avatars representing themselves and doing activities in that space, such as gaming, interacting, buying, and selling digital items. 

When it comes to Metaverse practicality, in one way, it also depends on people’s interpretations. Some might claim it is already here, while others view it as a vision for the future. However, many global tech companies have already launched mega projects on Metaverse as they see potential growth opportunities. The tech industry was amongst the first to move in Metaverse direction, followed by and now other industries. And now it’s time to explore some more practical aspects of Metaverse that you can join!

Investment in Metaverse

Most investment methods in our physical world are achievable in Metaverse. Let’s keep in mind that Metaverse is basically like an extension of the physical world where many people invest in currencies, land, arts, etc. Thus, some popular ways to invest in Metaverse are buying cryptocurrency, acquiring lands in Metaverse, and creating, buying, and selling NFTs. 

Career Opportunities

Innovative technology offers people more opportunities to thrive, especially in careers. Since Metaverse is the convergence of AR and VR technologies on top of the existing platform, it creates new IT job opportunities currently in demand, such as AR/VR Software Engineers to develop a platform, software, and applications for Metaverse. And as we know, Metaverse was meant to bridge our physical world with the virtual worlds; Hardware Engineers are playing essential roles in building and developing wearables and other devices for consumers to engage with Metaverse in more elevated and immersive ways.

Apart from the constant demand for engineers, there is also a need for creative forces like 3D Game Designers to play a creative role in Metaverse by designing and building an immersive 3D experience that engages players like never before. Digital artists also get to shine in Metaverse as there are already many art galleries and exhibitions there. More people are turning to digital platforms to show off their creativity and sell their digital artworks as NFT, yet it is not limited to master artists. Read more on up-and-coming digital arts and get inspired to create your own here!

Entertainment

Here’s the fun part! Metaverse holds endless possibilities for entertainment and creativity thanks to more immersive experiences and storytelling. With AR and VR technologies, you can engage and even be part of the storytelling like never before. Think of games or movies where you experience the surroundings through a VR headset that allows you to be in the moment instead of watching it through a screen—this is a part of the elevated entertainment experience you can access on Metaverse. 

One big thing happening now in the entertainment industry is that artists worldwide are engaging with Metaverse in many different ways. Some artists have their concerts in Metaverse, where fans from all corners of the world can participate via VR headsets, smartphones or computers and interact with others during the artist’s performance. With Metaverse, concerts we knew and loved will be taken to the next step where Metaverse concerts make a new kind of product rather than merely replicating the real-life shows.

Another emerging trend goes to Virtual Idols. The concept is simple—the artists don’t have to be human, yet we can still interact with them. One of the most notable K-idols, Aespa, has their virtual counterparts coexist in digital worlds called KWANGYA. And many other K-idols are also virtual natives; explore the next generation of pop stars here.

Metaverse is meant to connect the world with a more dynamic and multi-directed interaction for all users, including people with disabilities or impairments. Thanks to advanced technology like AR and VR, Metaverse offers opportunities for users to be more enveloped in activities they are participating in and explore a life-like environment alongside socializing with digital avatars of other users in real-time. Thus, everyone can engage in a fully immersive experience and meet people with the same interests as equals while feeling comfortable in their home.

Many more possibilities and opportunities for both personal and business ventures await in Metaverse. What we are seeing or experiencing now is only the beginning, so the future of Metaverse is still in question. Still, one thing we know for sure is there are already significant advances and developments leading us to the next chapter of how we interact with both worlds!