The document discusses what the metaverse is and provides several definitions and examples. It notes that while the concept has been around for decades, discussions have increased since Facebook rebranded as Meta. The metaverse is described as a virtual space experienced synchronously by many users that could include activities like gaming, meetings and social interactions. Major companies like Facebook, Microsoft and Roblox are working to develop metaverse platforms that could take 10 years to become mainstream.

1. What exactly is the Metaverse?
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Ever since Facebook rebranded itself as Meta, discussions and debates on
what Metaverse is has been doing the rounds.
A few days ago, an NFT-based metaverse real estate company named
Metaverse Group bought a parcel of land on a virtual real estate platform
known as Decentraland for USD 2.43 million. It was the highest ever amount
spent so far for virtual real estate.
Metaverse has suddenly become a major trending topic, even though the
concept has been around for close to three decades.
However, the answer to “what is metaverse?” is not simple. This is because
there is no metaverse as of now, and no one knows what it will be in the
future.
“The Metaverse is a massively scaled and interoperable network of real-time
rendered 3D virtual worlds which can be experienced synchronously and
persistently by an effectively unlimited number of users with an individual
sense of presence, and with continuity of data, such as identity, history,
entitlements, objects, communications, and payments,” defines venture
capitalist Matthew Ball in the foreword of his outstanding nine-part essay on
metaverse — The Metaverse Prime
The word “metaverse” is a portmanteau of two words “meta-” and “verse”. The
word “meta” is a prefix of Greek-origin meaning “beyond” while “verse” comes
from the word “universe”.

2. It was first used in literature by Neal Stephenson in his 1992 dystopian novel
Snow Crash. In the book, the metaverse is presented as the ultimate evolution
of the internet — a kind of virtual reality where any virtual interaction can
have a direct impact on the real world too.
The book pretty much sums up what the metaverse is. It’s a physically
persistent virtual space where there are virtual avatars, digital social
interactions, and gaming among many unique things that we associate with
metaverse today. Snow Crash also underlines how the metaverse in the story
affects developments in the real world of the protagonist, including a
conspiracy that turns people, whose brains are connected to the virtual world,
insane.
Since the release of the book, several other books, films and television shows
have dabbled with the concept to varying degrees, including Steven Spielberg’s
well-appreciated movie Ready Player One (2018), which was adapted from
Ernest Cline’s 2011 novel of the same name.
The common thread in all is that the metaverse is a virtual reality wherein,
depending on the advancement of the era, people will be able to do everything
they do inZuckerberg showed a world that can be defined as a much higher
level of virtual reality (VR) and augmented reality (AR). In the virtual space of
the metaverse, everything people do in the real world is replicated.
A VR headset, or any other wearable gadget specifically designed for the
purpose, will function as a gateway into this world.
Facebook’s idea of metaverse includes virtual avatars of people playing games,
holding meetings, attending workshops, exercising, studying and socialising
besides all kinds of activities that can be done in reality.
A larger and much grander metaverse can be extrapolated from this idea. It is,
however, noteworthy that Zuckerberg believes it could take around 10 years
for the metaverse to become mainstream. To think about it, that’s a short
time.

3. real life.
Anyone else on it?
Microsoft is another major Big Tech player trying to build a metaverse. Its
idea is called Mesh. One of its most interesting features is what the company
calls “Holoportation”. Simply put, its users will be able to project their
holographic selves to other users.
Its virtual and augmented realities can be best experienced with HoloLens
devices — a unique gadget which can make the experience of ‘Holoportation’
altogether different. However, Mesh can also be accessed via VR headsets,
mobile phones, tablets or PCs.
More advanced metaverse platforms include Roblox and Fortnite. The former
is particularly interesting.
Launched in 2006, Roblox has become so famous that over 50 percent of
American children under the age of 16 played it in 2020, but it is more than
just a game.
For comparison’s sake, imagine a fair where stalls allow visitors to play games.
Roblox is like a huge fair in the virtual world. Its users can create their own
games on the platform and monetise them to make real money by exchanging
the virtual currency known as Robux that they earn on the platform.
Recently, Venture Beat reported that at the GamesBeat Summit Next event,
the company’s chief of technology, Dan Sturman, said that Roblox is creating a
metaverse around its players. That’s apparent because companies, such as
Nike and the National Football League (NFL) entered the metaverse with
NIKELAND — a virtual playspace — and Roblox store, respectively.
While Nike announced its partnership on 18 November, the NFL came out
with its news ten days later.

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