What is the Metaverse?

 In CraneMorley, Mixed Reality Industry Insight

According to dictionary.com the metaverse is “a shared, realistic, and immersive computer simulation of the real world or other possible worlds, in which people participate as digital avatars.” The metaverse is a virtual world where users interact in a computer-generated environment and other users. For those who are hesitate or do not believe in this new idea and concept should look at how the word is an official word in the dictionary. If that does not make you a believer, the countless number of big companies investing in the metaverse is another key reason why the metaverse is arriving and here to stay.

If you are still unsure about what the metaverse is imagine a world like the video games Sims, Minecraft, or Fortnite. Now imagine being able to do just about everything in real life within this world. You can buy a house and live in it, go out to eat, and see a concert or sporting event.  You can conduct business meeting like you are together in real life. You can socialize with and make friends like you would in person.

The metaverse is described by some as the next version of the future of computing and the next iteration of the internet. Like the start of the internet there is no industry standard established yet. Big companies like Meta (Facebook), Apple, Microsoft, and others are rushing to be the ones who develop the metaverse and gain control of the metaverse. Those who control the metaverse will have significant power to develop the industry standards and how to regulate the world. One thing for sure is that we will see the use of metaverse in both business and personal use. We will see business meeting done in the metaverse like next to a gaming event.

While companies are rushing to create the next big thing there are key fundamental challenges that exist. As companies create their own environment some avatars will be Lego and Minecraft blocked shaped like. While others will be more complex and digital twin like Fortnite and Sims. Users will not be able to jump for one community to the next without creating a new avatar that fits the new world.

The other challenge that lies with the Metaverse is something we already see on the internet. Bias, bullying, and misinformation are key issues that will be even more pronounced. The importance of this is an understatement where users’ brains are trick to believe that they are there in person. Whomever establishes the code of conduct and regulations will be under massive scrutiny. Some users will believe in the right to free speech while society and companies will not agree and will have massive influence on how the metaverse handles this.

Who knows when or if we will still the metaverse commonly used like the internet in everyday life? The investment of major companies leads one to believe this may truly be the next iteration of the internet.

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