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If you read one article about the Metaverse, read this one

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If you read one article about the Metaverse, read this one

Grace Iderima's photo
Grace Iderima
·May 27, 2022·

5 min read

Table of contents

  • What is the Metaverse?
  • Components of the Metaverse:
  • What does the Metaverse have to do with Cryptocurrencies?

We believe the metaverse will be the successor to the mobile internet. We’ll be able to feel present like we’re right there with people no matter how far apart we actually are. We’ll be able to express ourselves in new, joyful, completely immersive ways and that’s to unlock a lot of amazing new experiences. - Mark Zuckerberg, CEO of Meta

There's been a lot of conversation about the Metaverse, what exactly it is, how it affects us and should we be excited about it?

Today, I'm going to talk about the Metaverse as plainly as I possibly can, I say plainly because I went through a lot of articles online and they said a LOT OF THINGS and I'm sure a lot of those things wouldn't make sense to a lay man.

My aim is to make sure that at the end of this article, when next you meet up with your friends, and they bring up something about the Metaverse, you'll be able to say one or two and not just be staring at everyone blankly - trust me, I have been there.

What is the Metaverse?

The Metaverse is a combination of multiple aspects of technology and video where the people exist within a virtual universe, it's like the world you are familiar with, but this time, it's virtual.

Think Fortnite or any video game at all, only this time, you're the main character.

It allows people around the world to meet by creating an avatar which they can personalise and make them feel more “real”.

Remember the video game example? Now, you know when you change the features of your character, maybe their hair or something like that, you can also do that in the Metaverse with your avatar - which is like a virtual representation of you.

Members of the Metaverse can work, play, socialise, shop - basically, do the things you can do in person, but within the virtual space.

Now, when people talk about the Metaverse, the concept of “presence” is usually brought up, what does that mean? What they're saying is, you actually feel like you're there, and not just watching everything that is happening around you, and also, you feel like the people in the virtual space are also really there with you.

Once a user in the Metaverse logs out - remember our video game example? - so, just like in your video game, you can save your progress, but the Metaverse is even better and much more than a Video game because there will be a highly functional economy - imagine being rich in real life and rich in the virtual space, too.

Members of the Metaverse will be able to sell and buy stuff on the Metaverse.

Now, get this, the Metaverse isn't just about Virtual reality, buying/selling or gaming, entertainment is also a huge part of it and it's also going to be accessible across different computing platforms.

Mark Zuckerberg - we all know him, CEO of Meta - said during the Connect 2021 Metaverse event that, the Metaverse is basically a successor of the Mobile Internet, where instead of just going through content and watching everything, you're in it and you can actually feel present with other people as if you are really there with them and you can't experience that on a webpage or even, Social Media.

Components of the Metaverse:

The Metaverse is a combination of different components, but we're just going to talk about the major components:

  • Virtual Reality (VR)

  • Augmented Reality (AR)

  • Mixed Reality (MR)

Virtual Reality (VR) : it is a computer-generated environment that can be similar or completely different from the real world that we are used to.

It is made of scenes and objects that appear to be real to the users, which makes them feel they are really involved or part of their surroundings - pretty cool, huh?

Now, we already know the Metaverse wants to bring to us a dynamic 3D environment and make us really involved in that environment - for example, instead of just being in a zoom meeting and watching everyone, with the Metaverse, you can actually feel their presence and for the Metaverse to do that, the use of Virtual Reality must be employed.

Bringing together the Metaverse and Virtual reality technology will ensure a much more real telepresence that you can't achieve with the VR or the Metaverse alone.

Augmented Reality (AR) : it is more like the real world that we know, only that it is a more enhanced version of it, what do I mean? In an Augmented Reality, the objects that we know in the real world are enhanced by information generated by the computer's perception.

With the information from the computer, it allows users to see their real environment and make changes to it in Augmented Reality.

If shopping, playing games, concerts, etc. are going to be a part of the Metaverse then adding the AR will make all these a better experience in the Metaverse.

Mixed Reality (MR) : Mixed Reality is a Hybrid Reality, it is a blend of the Virtual and Physical world to produce a new environment and visualization where elements from the Virtual and Physical world can co-exist and interact together.

MR devices are constantly picking up new information from the surroundings which helps to effortlessly put elements of the virtual world in the physical world and make it easier for users to interact with it.

What does the Metaverse have to do with Cryptocurrencies?

Blockchains and Cryptocurrencies will play an important role in the Metaverse, Blockchains will allow transactions within the Metaverse to be safe.

If people are going to be buying and selling, there's definitely going to be some sort of currency within the Metaverse, don't you think so?

That's where Cryptocurrencies come in, the members of the Metaverse will be able to trade and earn crypto coins.

In the Metaverse, people will have possession of their characters, register their virtual lands, invent their own casinos and make them legit by using cryptocurrencies.

Cryptocurrencies will be used as a legal tender in the Metaverse- just like the real world, we have money.

Conclusion:

From what we have seen so far, it is safe to say that the Metaverse is actually a creation of a new world where members have the opportunity to interact, associate with and even share economic value.

I hope this article was able to educate you on what the Metaverse really is.

Do not forget to share the link, react, and comment. Thank you!

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