Currently, the market size of the Metaverse is worth over $38.5 billion. It’s a rapidly growing space that 400 million people have joined.
You’ve probably heard of various Metaverse news pieces at this point, but it’s still a bit confusing. Even if you are a video game player, virtual reality is a whole new level, and it isn’t simple.
So, what exactly is the Metaverse? How can you join, and why should you?
Read our guide below to learn everything you need to know.
What is the Metaverse?
The Metaverse is an immersive 3D virtual space that allows humans to experience a new type of life. It is a shared space, where humans can interact, shop, play games, work jobs, learn new skills, attend concerts, and much, much more.
Like regular video games, you would create an avatar that would represent who you are in the Metaverse. However, unlike regular video games, you will enter into a space that feels real.
To access the world of the Metaverse, certain technologies have been rapidly developing. These include Virtual Reality headsets and Augmented Reality glasses, which cover your eyes and allow you to plug into and view the Metaverse.
More technologies are in the works, though it may be years before the public gets access to them.
How Does the Metaverse Work?
The Metaverse is a digital ecosystem that relies on blockchain-based decentralized finance tools and real-time collaboration software for its 3D technologies to work.
Factors that may influence how the Metaverse works in the future include:
- Data portability
- Governance and user interfaces
- Degree of interoperability among virtual worlds
- Cost to build in Metaverse
Besides this, though, there is very little known about how the digital Metaverse works because it is relatively unbuilt.
How is the Metaverse Used?
The gaming Metaverse is perhaps the most well-known, in which you can play and create in immersive digital worlds.
However, the Metaverse is also being used in the business world. Some companies started using the Metaverse during the pandemic, helping to make remote work more accessible.
Workplace training is another popular use of the digital world, especially in the healthcare field. Doctors in training are able to practice medical procedures in the Metaverse, as the hospital can sync their digital imaging into the Metaverse.
This is just the beginning of how the Metaverse will be used in the future, as the surface has barely been scratched.
Keep Up on the Metaverse News
Keeping up with technology as it changes so quickly can seem a bit overwhelming, but also very exciting. The Metaverse has tons of potential and may open up brand-new worlds and concepts to many people.
There is sure to be tons more Metaverse news in the future, so keep your eye out as new things develop.
In the meantime, check out the various sections on our website for more lifestyle content.