Imagine a life lived virtually. This seems like an idea out of a sci-fi movie or novel, but it’s slowly becoming a reality. Thousands of companies are investing in such an idea. One that is immersive and can, arguably, replace real life. This particular idea comes with a name, and that name is the Metaverse.
What Is the Metaverse?
First thing’s first, we have to discuss the Metaverse. You might have heard of it or even read about it on Twitter or even Facebook. There’s a good chance that you might have watched an explanation of it from the 70s or 80s sci-fi movie. The idea of the Metaverse has been around for quite some time. However, it’s only relatively recently that it emerged into the mainstream.
Essentially, Metaverse is like real-life but lived virtually. Okay, it might still not make sense, so imagine everything you’re doing right now, your job, your life at home, meeting your friends, but you’re able to do it online. It’s pretty crazy to think about, but it’s happening today. The idea of the Metaverse is a broad shift of technology being used to power people’s virtual lives. One particular technology utilized is virtual reality.
You’re probably aware of virtual-reality simulations. It’s one of the best and most remarkable things invented in this decade. The feeling of the simulations in these virtual realm feels so real that it’s utilized by various industries to train employees. The dental industry, for instance, is operating it to train dentists for simple dental procedures such as wisdom tooth extraction. Some surgeons are using it for transplant surgeries. At the same time, the military is using it to imitate real-life shootouts. There are many uses for VR, and everyone is trying to get the most of it.
People should start getting used to these VR simulations because the Metaverse will be run in these simulations. Soon enough, everyone will be using it to do meetings, meet with our friends, and even hold board game nights. It’s a powerful device and one that will determine the future of the Metaverse.
There are currently a few players that are working into expanding the Metaverse. Two of the most famous business conglomerates are Facebook (Meta) and Microsoft.
Two significant conglomerates control the battle for the Metaverse. One of them is Meta. When Mark Zuckerberg introduced the rebranding of his company into Meta, people were quite surprised. What surprised people even more was his radical shift towards the Metaverse.
During Zuckerberg’s presentation of what the Metaverse would be under Meta, he seemed wholly interested in it. Some people even explained that he’s borderline obsessed with it. Many businessmen think that the transition towards the Metaverse is a wise business decision. Facebook was under fire for many regulatory issues. Some even claim that it’s one of the main reasons why hate crime exists in the world.
However, some claim that this is just a smokescreen to protect Facebook. But because of recent developments such as Project Cambria, it’s pretty clear that it’s going to be more than just a smokescreen. It’s dedicated to making Metaverse a reality. But not everyone is going to let that happen.
Meta’s stocks have been dropping since the start of February. It has reached record-lows since its stocks sold in the stock market. It’s quite alarming because its stocks have been on the rise ever since. One main reason for this is that Microsoft wants a piece of the Metaverse pie.
Microsoft is one of the most recognizable brands in the world. There’s a good chance that if you have a computer, you know of the brand, and you’re using many of their products. Unlike Meta, Microsoft has a severe headstart in the Metaverse. That comes in the way of video games. Suppose Meta is trying to forge a path into the Metaverse through online utilities. In that case, Microsoft is forging away into it through video games. And so far, between the two, Microsoft is succeeding.
Arguably, Microsoft had a piece of the Metaverse pie since it started the production of the Xbox. Its production of VR headsets is also quite ahead when compared to Meta. It also has more investments and investor confidence than Meta. It’s looking good for Microsoft, and it seems that they will reach the pivotal point first than Meta.
What Does This Mean for the World?
Well, it means that everyone might become virtually dependent in the coming decade or so. People will find jobs in the Metaverse and even invest their lifelong savings in it. There’s going to be a whole ecosystem living inside the Metaverse, and it will change our lives as we know it.