What is the Metaverse, why are tech companies investing so much?

What is the Metaverse why are tech companies investing so

With Mark Zuckerberg’s renaming of Facebook as ‘Meta’, virtual reality technology became the agenda again in the metaverse.

The Metaverse (fictional universe) is a system that big tech companies, marketers and analysts have been talking about lately.

It draws attention, as well as the investments of leading names in technology such as Mark Zuckerberg and Epic Games CEO Tim Sweeney.

In its statement about the name change, Facebook stated that while the areas it works in have expanded from social media to virtual reality, the name Meta has a more inclusive meaning for the work of the company.

Zuckerberg also explained the reason for the change.

So what is the metaverse seen as the “future of the internet”?

What is the metaverse?

At first glance, it may seem like an enhanced version of Virtual Reality VR technology, but some think that metaverse technology is the future of the internet.

In fact, many believe the metaverse is to virtual reality technology what modern smartphones were to chunky cell phones of the 1980s.

Instead of being in front of a computer, you can enter a virtual world where all digital media are connected to each other in the fictional reality, metaverse, with only equipment consisting of headphones and glasses.

Unlike current virtual reality, which is mostly used for computer games, in the fictional universe entered through the metaverse, you can also do work, play games, go to the movie theater or just wander.

Many envision being able to create and use a three-dimensional (3D) avatar that is a representative of yourself in this universe.

But for now, there is no single agreed-upon definition for the metaverse, as this is just an idea.

Why has the metaverse become so popular?

In the digital world and augmented reality (augmented reality), some trends emerge every few years, but they usually fade after a short while.

But right now, there’s a lot of excitement about the metaverse among wealthy investors and big tech companies. If the internet as it is said has a future, no one wants to be left behind.

In addition, there is a feeling that technology is suitable for this system for the first time, especially with the developments in VR (virtual reality) technology in computer games and the inter-device connectivity feature approaching the required levels.

Facebook Why was he involved?

Renaming it ‘Meta’, Facebook has made building the metaverse one of its top priorities.

With the Oculus set, the company has invested heavily in virtual reality, making these sets less expensive than their competitors. According to some analysts, he may even have taken the risk with his decision to sell cheap.

The company also develops virtual reality (VR) applications for workplaces, including social spaces and those interacting with the real world.

Facebook has invested heavily in VR technology with its Oculus sets.

Commonly known for buying out competitors, Facebook has promised cooperation as it claims the metaverse technology “can’t be developed by a single company overnight.”

Before changing its name, Facebook invested $50 million in nonprofit groups to help “develop the metaverse with responsiveness and responsibility.”

But the company thinks it will take at least 10 to 15 years for the real metaverse idea to materialize.

who else metaverse Interested in technology**?**

Sweeney, President of Fortnite developer Epic Games, has also been talking about his enthusiasm for metaverse technology for a long time.

Multiplayer sandbox games have shared interactive worlds for decades. These don’t count as metaverses, but they have some common ideas.

Fortnite

In recent years, Fortnite has expanded its product range and brought activities such as concerts and brand events to its digital world.

Roblox, for example, is a platform where thousands of individual games connect to a wider ecosystem.

On the other hand, Unity, the 3D development platform, is investing in “digital twins”—digital copies of the real world—and graphics company Nvidia is developing a platform that connects 3D virtual worlds, called “Omniverse”.

So is everything designed for computer games?

No.

Although many ideas have been put forward about what metaverse technology is, most of the predictions are that social human interaction will be at the center of this technology.

For example, Facebook is experimenting with a VR (virtual reality) app called Workplace and a social medium called Horizons. Both use their own virtual avatar systems.

Facebook's Workplace app designs a VR meeting environment where everyone can use their computers in the real world at the same time.

Another virtual reality (VR) application is VRChat. This application is completely focused on surfing and chatting in the virtual environment. It has no purpose or purpose other than to discover new environments and meet new people.

There may be other applications waiting to be discovered.

In a recent interview with The Washington Post, Sweeney said that he envisioned a world where an automaker could “release the car for a test drive in real time, into the real world” to advertise a new model vehicle.

Perhaps in the future, when you shop online, you will first try on digital clothes and then return to the real world to order.

Does such a technology exist?

VR technology has come a long way in recent years with improved headsets and glasses sets. In these sets, there is also a system where you can follow the players in 3D with your own eyes as they wander around the virtual world. These sets are becoming more and more common. Oculus Quest 2VR gaming sets were one of the most in-demand Christmas gifts in 2020.

With the increase in interest in NFTs, secure ways of ownership in digital products have also been discovered. This indicates that the virtual economy can work.

More advanced digital worlds will need better, more stable and more reliable connections. This can be achieved with the spread of 5G technology.

For now everything is in its very early stage. The evolution of Metaverse technology—if it does happen—will be the biggest race between tech giants in the next decade and longer.

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