The Future of the Metaverse
If you’re a gaming enthusiast or into future-themed entertainment, the concept of the metaverse might not seem completely alien to you. It is a digital alternative to the physical world that enables social connections through avatars that work, play, shop, connect, or interact in virtual environments.
The metaverse earned itself the reputation of “the next chapter of the internet.” As it evolves, we can expect the metaverse to take on a form very similar to the real world, even replacing some real-world activities. Let’s explore some activities the metaverse may change and the technologies that may influence its evolution.
How we play
Traveling is a popular activity requiring hours of planning and transit, and metaverse has the potential to influence the travel and tours industry. Companies like DFS and Marriott Convoy are already exploring the metaverse for new marketing strategies and better travel experiences. Travelers can look at hotel rooms, meet concierges, and check tour destinations with their metaverse avatars before committing to the experience.
The metaverse can also revolutionize the entertainment industry. For example, live concerts are no longer subject to capacity limitations since everyone can attend virtually and experience surreal special effects. Many artists have already explored metaverse performances with record-breaking attendance levels.
How we work
The COVID-19 pandemic has inspired a dramatic change in how businesses operate, with virtual meetings becoming the norm. The next step is to move these interactions to the metaverse within the next couple of years.
The metaverse will be a major contributing factor to the growth of the future of virtual economies. In the metaverse, geographic borders will be irrelevant. You can run global businesses without traveling or dealing with foreign transaction fees and exchange rates.
Companies will have virtual buildings on the metaverse, allowing you to browse just as you do in real life. It will be another avenue for businesses to market their products and gain consumer interest. Purchases can be processed directly from the metaverse using a crypto wallet or credit card.
How we maintain connections
Technological evolutions have helped us keep in touch with friends and family worldwide. Phone calls became emails, and now video calls may give way to virtual 3D metaverse meetings. Conference meetings on the slopes of Mount Everest or the moon will become commonplace as the technology continues to develop.
How we manage ownership
As we interact and migrate activities to the digital world, the value of our assets in these realms will also appreciate. The metaverse uses blockchain technology and benefits from all its best features. Hence, anything you own or create in the metaverse in the form of NFTs (art, music, collectibles, and even real estate) will benefit from the immutability and irreversibility of blockchain-based digital assets.
Technologies that may influence the evolution of the metaverse
The metaverse is not a stand-alone piece of technology. It may be affected by the technologies we use to access it. The three technologies most likely influence it are virtual reality, augmented reality, and brain-computer interfaces.
1. Virtual reality (VR)
Over the next few years, the metaverse is expected to become accessible primarily through virtual reality, a computer-generated simulation of a 3D image or environment. These simulations are increasing exponentially in performance and quality and will evolve to be used routinely in personal and business scenarios.
2. Augmented reality (AR)
This technology allows anyone to view digital assets with their devices and interact with holograms and metaverse elements against the backdrop of the real world. AR can enhance real-life human experiences by leveraging the creativity of the digital world.
3. Brain-computer interfaces (BCIs)
Brain-computer interface technology is the most advanced technology on this list. BCIs aim to replace screens and physical hardware by incorporating technology into the human experience as an “operating system of the mind.” BCIs are a direct communication pathway between the brain and external devices.
Although the metaverse is still in its infancy, it is easy to imagine its impacts on our lives in the coming years. When the internet launched in the 90s, even the most optimistic estimates did not predict its influence reaching these levels. The metaverse could also follow the same path and enjoy similar levels of influence.
While it offers profound benefits, it also presents unique challenges. How these changes will affect our lives remains to be seen, but they are likely to be significant.
How REV3AL can protect and help
As the metaverse evolves, its future as an emerging technology depends on balancing the benefits and risks. REV3AL Technology’s multiple authentication factors incorporate blockchain and non-blockchain technology so you can easily authenticate or verify digital assets in the real world. Their encrypted protection ensures the highest level of security for your digital assets.
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