Metaverse — Live in the Future

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Every one of us had dreams during sleep at least once in our lifetime where our subconscious mind communicates with our conscious mind. i.e. When things, in reality, don’t go as planned your subconscious mind tries to play them the way you would have wanted them to go, in your dreams.

But what if the dream becomes a reality that is played by your conscious mind in a virtual world with a mix of virtual reality (VR) and augmented reality (AR).

And yes that’s the futuristic fiction that you are going to read today from this blog.

Metaverse a network of 3D virtual worlds focussed on social connects decentralized in Web3

The buzzword Metaverse was been hearing aloud when Facebook changed its name to Meta on October 2021.

In this blog, we are gonna focus on the 3 things about metaverse

Why metaverse is a big deal?
When it will be accessible to all of us
What is the utility value of metaverse

1. Why metaverse is a big deal?

When Mark Zuckerberg (CEO of Facebook) made a stunning announcement that Facebook will be called Meta. As soon as the news was released, the press went crazy social media was on fire and that’s the same time when Satya Nadella announced they are in Metaverse too.

Satya Nadella about Metaverse

And when we hear about the companies like Nike and H&M are aggressively investing in the Metaverse, the world has realised that the next big thing in the Internet would be “Metaverse”.

Nike in Metaverse

But what is Metaverse actually?

The metaverse is just that — a digital world accessible via virtual reality headsets, populated by real people (often using digital avatars) and full of endless possibilities.

At the moment, people interact with each other through social media platforms or by using messaging applications. In the virtual space, users will have their own “character” that can walk around and interact with other users. They can communicate with one another through avatars, text messages, sounds, music videos, video games, etc.

This means that people will have a 3D experience on the Internet.

They can interact, play, work, or join in digital environments as if they are experiencing it in reality rather than just watching the content.

Web 3.0 is vital in making the Metaverse a reality, specifically if it uses blockchain technology. Enabling the virtual world to exist online and be accessible through a web browser.

2. When it will be accessible to all of us

To know when Metaverse can be accessible to all of us before that we should look at the evolution of Spotify and how they choose to enter India only after 2019.

If you look at the Music streaming as a service it is accessible to the people only when the 4 entities are aligned and functional

If Spotify launched its service in India in 2014 everyone would say it was crazy because no one want’s to listen to the music when they can just download it for free.
The reason why people don’t want listen to music online is that when the data cost is high no one would keep listening to the streaming music all the time
As well the cost of wireless headphones was extremely high

Even though we have the content creators (Musicians) and the Music streaming service back in 2014, nobody wants to listen music online.

But after the JIO effect takes place where the cost of the internet drops drastically, the speed of the internet picks up drastically and the cost of wireless headphones went extremely cheap where people changed their priorities from data cost to memory allocation.

Hence streaming becomes viable and desirable as a service, this is how when the Technology of access, Technology of connectivity, and creators came onboard together Spotify as a service become relevant in the Indian market.

And now if you look at the trajectory of Metaverse closely you could see the same 4 entities that need to be updated is

Technology of access — The technology of access for meta world is Oculus device which is extremely cost at the moment (cost around ₹27,500.00)
Network to connect — The average internet speed that needs to connect to the meta world should be at least 120–150 Mbps for a seamless experience
Service platform & Creators — Even though we have the service platform such as Facebook’s Meta and Nvidia’s Omniverse as well the creators like Epic games, H&M where they would create objects, maps for the meta world.

When you trace the trajectory of these variables (Technology of access and Network connectivity) for the past 5 years you could see the following

The cost of the oculus device drops from $599 to $299
The average internet speed which could touch around 120 Mbps on 2025

And by the time when both the above things happen (the cost of the device drops out drastically as well as the speed of the internet picks up drastically)

We would have enough products and services in the Metaverse which can be utilized by you and me easily.

3. What is the utility value of metaverse

For the people who love games Metaverse would be a paradise but what for others how it is going to affect our daily life?

The answer to the above question lies in the fundamental nature of human beings that turned us from the insignificant apes to the rulers of the planet and this is the ability to bond together.

This is the ability to bond together because of which we can form the fan clubs, states, and even national armies. The bonding which is an important thing in mankind is built with 3 attributes that is (Experience, Engagement and Expressions)

To know about these 3 attributes we will look at the below example which we have experienced during the covid times.

Yes, you have are correct it is the Online meetings

Most of the time we have meetings online where we can’t see others engagement and expressions rather we could see a bunch of alphabets on the screen to which we interact and we can’t know whether the person on the other side has listened to what you have spoken, whether they liked on what you have said(If they don’t like what you have conveyed that could result in f closing the zoom call or a Meet call faster than the time you wait for everyone to join in for the meeting).

But with Metaverse we are moving the meetings in a virtual world where we could see the people(avatars) around the world come together to discuss, engage where we could see their expressions and all the barriers that we have in the real meeting such as language can be kicked off.

When you could see the empathy of others as well as when you could bring back the lost lives back to reality(virtual world) then it a big deal to look at Metaverse