Ever since Facebook rebranded itself as Meta, discussions, and debates on Metaverse-related topics have been doing the rounds.

A few days ago, Microsoft announced to expand its services to metaverse by collaborating with ActivisionBlizzard. Before that, an NFT-based real estate company, Metaverse Group, bought a piece of land for $2.43 million, on a virtual real estate platform called Decentraland. These are just a few examples, there are several other Tech Titans, who are betting heavily in the metaverse.

The concept of metaverse-Virtual Reality, Augmented Reality, and 3D Computing-has been around for close to three decades, but the technology has gained popularity in recent times. 

But do you know What is Metaverse? Who introduced the term Metaverse? And what is its future?

We will help you understand everything.

Let’s start with Metaverse!

Metaverse is a virtual or semi-virtual world that can be accessed using Virtual and/or augmented reality headsets, each giving a different experience.

To understand it further,  let’s take the example of Disney+ Movie,  Free Guy. The video game-based game allowed the users to enter the virtual world, where they could do anything. 

Every user in the movie got their own virtual Avatar and was allowed to interact with each other in the movie.

The users could also change their skin in their virtual appearances, including dress, hairstyle, makeover, etc.

Now imagine a virtual world environment, which you can access,  walk around, meet friends,  buy anything you want, but that will get delivered to your real home or that you can consume digitally. Basically, everything we would be doing socially but in a virtual world. You can even have a virtual work or study environment and interact with colleagues and classmates. Take a virtual vacation to anywhere in the world by being in your living room with your friends on 4 continents. This is Metaverse.

In the metaverse, you can play games, go shopping, hang out with friends at a virtual coffee shop, work with your colleagues in a virtual office, and much more. In fact, there are some video games and work socialization tools that have already implemented certain metaverse elements into their ecosystems.

To offer an immersive metaverse virtual experience, tech companies are incorporating cutting-edge technologies to power the 3D world’s development. Such technologies include blockchain, augmented reality (AR) and virtual reality (VR), 3D reconstruction, artificial intelligence (AI), and the Internet of things (IoT).

What is Metaverse technology?

The term metaverse was first used by an author named Neal Stephenson, in the year 1992. His science fiction novel Snow Crash envisioned an online world where people could use digital avatars to explore and escape from the real world. 

Since then, various developments have made mileposts on the way toward a real metaverse, which is an online virtual world that incorporates augmented reality, virtual reality and other means of communication. 

The Future Of Metaverse

With Facebook changing its name to Meta in October 2021, the metaverse became the new favorite buzzword. Apart from this, the COVID-19 pandemic has also accelerated the interest of tech companies in developing metaverses. There is an increased demand for more interactive ways to connect with others as more people have started working remotely. Virtual 3D spaces that let coworkers join meetings, catch up, and collaborate are on the rise. 

future-of-metaverse

Recently, a tech company called Together Labs announced the introduction of VCORE tokens on its IMVU platform, for users outside the US and Canada. Currently, this ERC-20 token is used as a reward and has been offered to active, international players, creators, and earners across the metaverse. 

With a new token launching in 2022, VCORE should give its users access to a new type of economy where every player may participate in the future of the metaverse.

Another tech company Nvidia has also opened new opportunities in virtual worlds. 

Nvidia Omniverse is an open platform designed to connect 3D spaces into a shared universe to facilitate virtual collaboration between engineers, designers, and creators. It’s currently being used across different industries.

6 Amazing Metaverse Technologies To Trend in 2022

It is hard to predict the future because of its unpredictability, but with the help of the collective intelligence of our team, we have created a list of top Metaverse technologies that are likely to trend in the upcoming years.

For example, blockchain technology has been in existence for more than a decade now, but it wasn’t until 2017 that it came into the spotlight. It is set to trend even further in the upcoming years. Here is a list of the top 6 trending metaverse technologies to trend in 2022.

Trending-metaverse-technologies

1. Augmented Reality

AR is a digital overlay projected on the real world. It uses digital visual elements and characters to morph the real world. This technology can be used on almost any smartphone or digital device with a camera. 

Through AR applications, users can view their surroundings with interactive digital visuals, think of Niantic’s Pokemon Go, Snapchat’s dancing hot dog, or even wearables like Google Glass. While Google Glass never took off, we could soon be peering through AR-connected glasses like Facebook’s Ray-Ban Stories or Snapchat Spectacles.

2. Virtual Reality

VR works differently. Much like the metaverse concept, it produces an entirely computer-generated virtual environment. Users can then explore it using VR headsets, gloves, and sensors.  VR is already creating a digital world that incorporates fictional visual content. As its technology becomes more mature, VR can expand the metaverse experience to involve physical simulations with VR equipment. 

3. Blockchain & Cryptocurrency

Blockchain technology provides a decentralized and transparent solution for digital proof of ownership, digital collectibility, transfer of value, governance, accessibility, and interoperability. Cryptocurrencies enable users to transfer value while they work and socialize in the 3D digital world.  

4. Artificial Intelligence

Artificial intelligence (AI) has been widely applied in our lives in recent years: business strategy planning, decision making, facial recognition, faster computing, and more. More recently, AI experts have been studying the possibilities of applying AI to the creation of immersive metaverses. 

5. 3D Reconstruction

While this is not new technology, the use of 3D reconstruction has been rising during the pandemic, especially in the real estate industry, as lockdowns prevented potential buyers from visiting properties in person. 

Therefore, some agencies adopted 3D reconstruction technology to generate virtual property tours. Much like the metaverse we imagined, buyers could look around potential new homes from anywhere and make purchases without even having stepped foot inside.

6. Internet of Things  (IoT)

The Internet of things (IoT) concept was first introduced in 1999. Simply put, IoT is a system that takes everything in our physical world and connects them to the Internet through sensors and devices. 

After connecting to the Internet, these devices will have a unique identifier and the ability to send or receive information automatically. Today, IoT is connecting thermostats, voice-activated speakers, medical devices, and much more to a wide range of data. One of the applications of IoT on the metaverse is to collect and provide data from the physical world. This would increase the accuracy of the digital representations. 

Closing Thought

We already have a nascent version of the Metaverse existing with digital goods like Non-Fungible Tokens (NFTs). Soon we might see more digital products introduced in the market, leveraged with metaverse. 

In the recent past, several major companies have entered this space to explore its potential. This confidently indicates that the Metaverse is the new future.

Why hire a metaverse development company?

Metaverse is the next-gen blockchain platform that offers a wide range of functionalities. From a decentralized marketplace to a protocol for digital identity, Metaverse is the blockchain platform for the future. One of the reasons why Metaverse is such a useful platform is its scalability. 

Metaverse allows dApps to run on the platform and allows for a huge amount of transactions to go through. This scalability is one of the reasons why Metaverse has so much potential and why it may be a good idea to hire a metaverse development company to help you build with the platform.

You can take the benefit of our long-term experience in building blockchain apps. At Vegavid TechnologyMetaverse Development Company we’re a team of professionals with extensive expertise in blockchain development, which allows us to produce high-quality results and work quickly. Our services include EOS Blockchain Development, Cryptocurrency Development, ICO Development, Smart Contracts, and Software Development.

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