metaverse facts

12 Wonderful Metaverse Facts for Tech Enthusiasts

The Metaverse is one of the most awaited internet inventions of this decade. You might have seen how virtual reality (VR) works in movies. You might even have a VR headset at home to play games. But, Metaverse is so much more than that. It combines VR, augmented reality (AR), and even a possible brain-computer interface.

It is a new way for us to interact with technology. And so, we shall discuss some fun facts related to Metaverse to get a glimpse into the future. Metaverse is a 3D network of virtual worlds that lets you connect and socialize. If you have watched or read about Ready Player One, you are more than likely familiar with the concept. 

The Metaverse has come a long way since its inception in the early 90s. Previously, we could only imagine what virtual reality would look like and how we play a part in building the vast network. 

Currently, big companies are prepared to launch their own versions of the Metaverse with fantastic graphics and features for us to enjoy. But as we’re gearing towards the next phase of VR, let’s take a look at some of the mind-blowing facts about Metaverse that you probably do not know yet. 

1. Who Coins the Word ‘Metaverse’?

Who Coins It?

Despite sounding like a scientific term, Metaverse is not coined by any scientists or IT mastermind. Who would’ve guessed that the famous network comes from a sci-fi novel in the early 1990s? Yes, the term has just blown up recently, but it’s actually been here for a long time.

The word “Metaverse” came from writer Neal Stephenson’s book Snow Crash, and it describes a 3D virtual space. It’s really crazy to think that an idea from science fiction novels can become something massive soon. But then again, everything incredible always starts from a beautiful imagination.

2. Does it Really Come From the 90s?

Does it Really Come From the 90s?

We’ve just learned that the term “Metaverse” came in 1992 through a brilliant sci-fi novel made by Neal Stephenson. However, does the idea of a virtual world and reality come from then or even further back? If we look closely, movies like Tron (the original one, duh!) take inspiration from the concept of virtual reality and the metaverse. 

The movie tells the story of a game developer that got stuck inside the world of computers and programming. Check it out if you haven’t already. There must be a lot of lesser-known movies or art that use the premise of virtual reality as an inspiration. There’s really no limit in a human mind!

3. Is Metaverse an Entirely New Technology?

Is Metaverse an Entirely New Technology?

We have been talking about Metaverse and how it appears like a brand-new technology. But it actually came as a result of Virtual Reality (VR) and Augmented Reality or AR. Combining them both will result in a Mixed Reality (MR). 

To make the Metaverse happen, you’re going to need the ability to add virtual items to your surroundings through AR and simulate an entirely new and virtual environment. The technology needs to complement each other to have a perfect Metaverse.

4. No Fancy Technology Needed

No Fancy Technology Needed

You may have heard about VR and AR technologies essential for accessing the Metaverse. One of the most common accessories that people use is the VR headset. While the technology helps you enjoy the Metaverse better, it isn’t that necessary to purchase one.

There are a lot of Metaverse websites that don’t require you to use VR headsets. The Sandbox and Decentraland are two examples of websites accessible with phones or computers. Hence, the choice to buy said items is down to your preference. And that, ladies and gentlemen, is one of the most uplifting facts about metaverse development.

5. A Shared Idea

A Shared Idea

Like the world wide web or internet, Metaverse is not owned by a specific company. Although Facebook has since changed its name to Meta, it doesn’t necessarily mean that it obtained full technology ownership. Companies like Google, Microsoft, and Google are gearing up for their own version of Metaverse. 

The year 2022 will be a crucial milestone for Metaverse and its enthusiasts. The giant corporations mentioned previously are planning to launch or unveil a taste of Metaverse this year.

We still don’t know the full details of the software or games they are releasing, but it will be worth the wait! Most of them will implement a mixture of Augmented Reality (AR) and Virtual Reality (VR).

6. Limitless Potential

Limitless Potential

If you have played Fortnite or Second Life, you have just tasted a little piece of what Metaverse can be in the future. Those games let us play as an avatar and interact with other people in real-time, but what if Virtual Reality and Augmented Reality play a part in future games?

Perhaps movies like Ready Player One and Free Guy give us the best impression of Metaverse’s potential. If you have watched those movies, you’ll see a lot of cool stuff that happens inside the virtual world. We’re really excited about the potential, and you should be thrilled too! The fact that Metaverse is starting to take shape is fascinating.

7. Future Platform for Cool Events?

Future Platform for Cool Events?

Metaverse hasn’t really hit the ground yet, but people have realized its potential. In fact, it has already been used for some public events. On Saturday, February 22th, 2022, Abhijeet and Sansrati became India’s first couple to marry via Metaverse. They used India’s own Metaverse platform called Yug Metaverse, and the event was organized by Wavemaker India for ITC Ltd. 

The guests present received their own avatars, all gathered in a virtual beachside venue. With the Metaverse, the couple can get married and invite all their friends from different parts of the world. In the future, don’t be surprised if you’ll see events organized through the Metaverse.

8. Virtual Items are Really Hot Inside the Metaverse

Virtual Items are Really Hot Inside the Metaverse

Real-life money is worth nothing in the Metaverse. Instead, you’re going to need currencies that fit the platform. Picture this: in a typical game, you will need an in-game currency to upgrade and finish your quest. The same thing applies in the Metaverse. Enter: Non-Fungible Tokens.

Just like any in-game currency, you can buy NFTs with real-life money. But it is actually valuable and will act as a virtual asset for you. NFTs come in the form of virtual images, videos, or objects. Do you know that a virtual Gucci has been sold for more than $4,100, which is actually more expensive than the actual bag in real life!

9. Metaverse Coin: Invest Now!

Metaverse Coin: Invest Now!

Here is the next fun Metaverse fact that may be super crucial. In the future, experts have predicted that the Metaverse may be worth around $800 billion in 2024. The global market itself will reach $300 billion in the same year. And that’s the perfect reason for you to start investing in Metaverse coins.

This kind of cryptocurrency is actually quite unique. You don’t have to play the game to invest in the Metaverse coin. The Metaverse coins will definitely rise in price, and players will be desperate to purchase them to obtain their favorite NFTs.

Therefore, you can obtain some coins and wait for the perfect time to sell them. You need to pick the correct currency to invest in, like in the stock market.

10. Robots Won’t Replace Humans 

Robots Won’t Replace Humans 

Every technological advancement always comes with a worrying topic: do humans still earn their place, or will robots and AIs replace them soon? Fortunately, we won’t have to talk about that with Metaverse.

On the other hand, the fantastic concept enables companies to create new lines of work. Over the next five years, Facebook will create an estimated 10,000 work opportunities for the European Union. The jobs will involve the development of the Metaverse.

11. Daily Lives Starts to Intertwine

Daily Lives Starts to Intertwine

Although the Metaverse is currently heavily synonymous with VR games, other aspects of our lives are starting to enter the world of Metaverse. There are a lot of successful applications for the Metaverse, such as real estate, military, medical training, and education. 

When you’re looking for a new house in another city, you won’t have to travel for six hours just to see the place of your choice. You just need to access a VR glass to assess your future house! And when you’re a medical student looking to assist doctors with a procedure, you just need a good internet connection and VR/AR technologies at your disposal.

12. New Tech, Same Problems

New Tech, Same Problems

Metaverse might be a fascinating new world for us all. However, people are already beginning to suspect the abuses if they fall into the wrong hands. Much like real life, there’s a high chance that crimes can enter the virtual world of the Metaverse. People can get addicted to the platform. There’s a probability of cybercrime and fraud too.

In fact, a case of sexual abuse happened during the Beta test of the Metaverse. A woman was virtually groped in the Metaverse. While the woman is safe and sound in real life, it’s really uncomfortable to think that such a case can happen even in the virtual world. If not treated carefully, this won’t be the last time we’ve seen the incident. 

Furthermore, discussions are already held about the potential cybercrime that invades privacy. Metaverse platforms can collect our data and other personal details and images, which leaves people at risk of getting their data breached. It does really make you feel uneasy for the fact that Metaverse may affect real-life negatively.

According to a poll about Metaverse, 41% of people agreed that the new platform can cause mental health issues. Playing virtual games might be addictive to some people, which can cause them to get depressed and anxious when they lose a bunch of times. With all of these problems, let’s hope that all developers can work to create a safe environment for all the users! 

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