Since Facebook relaunched as Meta, there have been several discussions and disputes about the Metaverse. A block of land on Decentraland, a virtual real estate marketplace, purchased for USD 2.43 million by its Group, an NFT-based real estate firm. It was the most money ever spent on a virtual real estate up to that point.
What Is The Metaverse?
Even though the concept has been present for nearly three decades, it has suddenly become a hugely topical subject. If you want to understand the real Metaverse meaning, the answer is not straightforward. It is because the existence of this is quite vague, and no one knows what the future looks like. Since the Metaverse is constantly evolving, it will be considerably grander and more immersive than it is now by the time it may become a reality.
According to Matthew Ball, a famous Venture Capitalist, It is a massively scaled and interoperable real-time network. These are rendered 3D virtual worlds that experienced synchronously and persistently by an effectively infinite number of users. Each had their sense of presence and data such as identity, history, entitlements, objects, communications, and payments.
Description of Metaverse Facebook
Common Space, Users Represented by Avatars
Your username (or Instagram handle) or thumbnail photo represents you on websites and social media networks. You are described in the Metaverse by a customizable avatar who can move, speak, and execute animated actions.
Communal Area where Avatars Live As Humans
Every user will be part of a single virtual world, where things and property shared throughout all online sessions.
Micro & e-wallet Payments Future
Purchasing & Selling Virtual Property Same As Physical Property
People will use non-fungible tokens as a decentralized way to acquire virtual products, independent of any governing authority or corporate server, just as they do with NFTs.
Creating a Virtual Property of your Own
According to Facebook Metaverse, while it may allow you to construct your virtual property, allowing people to produce their material may not be a good idea for both users and metaverse creators.
VR or AR glasses for 3D telepresence
Many people believe that this is the final step toward achieving a complete metaverse state. Virtual and augmented reality will allow us to step away from our screens and into a world where we may interact with other 3D avatars in the same space. According to the Meta CEO, It’ll seem like you’re right in the room with each other, making eye contact, sharing a feeling of place, rather than just looking at a grid of faces on a screen.
The name metaverse and its concept were first introduced in Neal Stephenson’s novel Snow Crash, published in 1992. Stephenson told the story of an imaginary place made available to the public across the worldwide fiber-optics network and projected onto virtual reality lenses in the novel.