THE concept of the metaverse is quickly becoming a buzzword in technology and business which is being embraced by Facebook. But what does it mea
THE concept of the metaverse is quickly becoming a buzzword in technology and business which is being embraced by Facebook.
But what does it mean? Here we explain.
What is the metaverse?
Metaverse is a broad term. It generally refers to shared virtual world environments which people can access via the internet.
The term can refer to digital spaces which are made more lifelike by the use of virtual reality (VR) or augmented reality (AR).
Some people also use the word metaverse to describe gaming worlds, in which users have a character that can walk around and interact with other players.
There is also a specific type of metaverse which uses blockchain technology.
In these, users can buy virtual land and other digital assets using cryptocurrencies.
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Many science fiction books and films are set in fully-fledged metaverses – alternative digital worlds which are indistinguishable from the real physical world.
But this is still the stuff of fiction.
Currently, most virtual spaces look more like the inside of a video game than real life.
Facebook Inc (FB.O), under fire from regulators and lawmakers over its business practices, is planning to rebrand itself with a new name that focuses on the metaverse, the Verge reported.
Why is it taking off?
Fans of the metaverse see it as the next stage in the development of the internet.
At the moment, people interact with each other online by going to websites such as social media platforms or using messaging applications.
The idea of the metaverse is that it will create new online spaces in which people’s interactions can be more multi-dimensional, where users are able to immerse themselves in digital content rather than simply viewing it.
The accelerated interest in the metaverse can be seen as a result of the Covid-19 pandemic.
As more people have started working and going to school remotely, there has been an increased demand for ways to make online interaction more lifelike.