“You can think about the metaverse as an embodied internet, where instead of just viewing content you are in it.”
What do you think about your dreams? Are they real? Or are you actually sitting at some place and designing all your dreams and living them? It sounds confusing while answering such questions because if the dreams aren’t the reality then how we feel so sensually connected to them or if they are real then who is their controlling agent. This is a similar thought when we think about METAVERSE.
Metaverse is one such concept that motivates the generation to explore the virtual world with all segments of the real world. Sounds like talking in the air? Let’s understand the Metaverse thoroughly and how it's going to transform the space of social media.
WHAT IS METAVERSE?
Metaverse is simply a virtual world where a human being will experience everything around him in an artificial or virtual mode. It is like all the characters of his life will be AVATARS (modified versions of human beings only in the virtual world) and everything around him will exactly be the same as in real world but they will be in digital form in the Metaverse. It is basically a whole new world around the person in digital form where he can do everything like play, create, organise, explore as he would do in the real world.
Metaverse is the highly advanced version of the internet because it does not deal with 2- dimensions like the internet. It creates a 3- dimensional space for the user in a virtual world. It generates a 360 degree surroundings where the user will not only experience but can feel it.
Metaverse is a word made up of 2 words- Meta, which means beyond, and Verse, which means Universe. It denotes the meaning that it is a “world beyond this world”.
Nowadays, it has become a very popular concept of discussion because of a recent news from Facebook. The founder of Facebook “Mark Zukerberg” and his company decided to transform their company into Metaverse company. They also changed the name of the company from FACEBOOK to META in november 2021. They have a vision to connect the people on an advanced technological ground where they can connect with each other virtually to perform different tasks like talk, discuss, enjoy etc.
While dealing with the virtual world, the foremost priority of any individual is privacy and safety. Privacy in terms of data transfer, inducing other people in someone’s private life. And safety in terms of transactions through currency and doing business under Metaverse.
Hence privacy and safety are such factors that influence the functioning of Virtual Reality. But before going deeper, let's first talk about Virtual Reality.
WHAT IS VIRTUAL REALITY?
It can be anything which is not real and can be artificially created so that it can exactly look real. This is one of the parameters that will make the Metaverse exist. Virtual Reality is one such world which can be experienced by special headsets that will be worn by a person and he can experience everything which is set under those headsets. They can play games, hold meetings, visit new places and even spend time with their family and friends. There are around 160 companies at present who are working on this idea and trying to make it highly accessible for every person on this planet.
One example of virtual reality can be Google Glasses which were introduced in 2014. They were quite light and wearable like a spectacle. It created a virtual world around the user and he/she can explore various unrealistic things that were not actually present at that moment.
WHAT IS WEB3?
Web3 can be defined as a decentralised version of the internet which is not controlled by a single authority. It is actually controlled by a blockchain system where the control of data is in the whole group and not a single person. It is built to handle the currency issues of Metaverse like NFTs, cryptocurrency, tokens etc. This will help in managing the exchange of goods and services in the virtual world without paper currency but with digital currency. There is no kind of ownership in the blockchain system hence there are very high chances of corrupt free mode of exchange.
Since it is expected that we will be dealing with such a virtual world and communicating with the digital currency, it becomes mandatory for the business organisations to develop their brands that are Metaverse friendly. If the business corporation works under virtual reality then they will soon face a competition with DAOs (decentralised Autonomous Organisations).
WHAT ARE DECENTRALISED AUTONOMOUS ORGANISATIONS?
They are the futuristic organisations of the upcoming world who will have no single ownership but a decentralised (divided into many authorities) membership of one organisation. Though each segment does have the autonomous structure to handle the issues and control the functionality but just don’t own the organisation! They also have the same purpose but their roles are separately defined and they work to fulfil them with blockchain technology.
If there is any organisation or business wishing to enter the Metaverse then they also have to decentralise their power and that means they don’t have ownership as well as complete profit over their organisation. Their functions are digitally determined and they just contribute to them to complete the specified task. There will be a whole network of systems that will be interconnected and transfer data that will be fully encrypted. Hence there will be no chance of forgery or transfer failure.
So, how is it going to affect the Social media optimization tools networks that are used to transfer data and manage the business presence online? It is very clear from the understanding of Metaverse that it is a very long process that will take around 10-15 years to develop in such a form that every individual could use it effortlessly. But along with this idea, we cannot deny that it is going to be the future of networking programs.
We will continue this article in the next session because it requires more of your time to delve into it thoroughly. So, Rannkly is waiting for you. See you in the next blog!