The Metaverse
"The people are pieces of software called avatars. They are the audiovisual bodies that people use to communicate with each other in the Metaverse." Neal Stephenson.
The term Metaverse was first introduced by Neal Stephenson in his novel "snow crash" a 1992 science fiction book.
The term has been getting more popularity lately especially after Facebook rebrand to Meta in October 2021. So, what does this term mean?
Metaverse generally refers to the concept of a highly immersive virtual world where people gather to socialize, play and work. Immersive virtual world means we are not dealing with this physical world, but we are dealing with some extension of our imagination. So, how is the metaverse different from the internet or video games as we know them today? The components of the metaverse are what make the technology standard.
Main Components of the Metaverse
Augmented reality (AR): Is an enhanced version of the real physical world that is achieved through the use of digital visual elements ,sound, or other sensory stimuli delivered through technology . Example is Pokemon Go.
Virtual reality (VR): An artificial environment which is experienced through sensory stimuli ( such as sights and sounds) provided by a computer and in which one's action partially determine what happens in the environment. Example is Oculus.
Metaverse and the economy
The Metaverse will surely impact and disrupt the economic ecosystem globally. Basically, there is no new technology that will not have effect on the economy whether positively or negatively. We have seen people buying virtual land in the metaverse, people tend to want to buy land near celebrity. Also, multiple companies are planning to take their business virtually, with virtual stores, restaurants and so on.
The future of work as we know is becoming less practical since the pandemic started, people are more willing to work from home now than ever and we can see that the trend is here to stay. Just like the wonderful opportunity this platform has also given, you can conveniently write article from the comfort of your home and get rewarded in bitcoin cash by the random rewarder.