What is metaverse and how does it work?
What do you think the metaverse is?
Where did this futuristic concept come from?
When did it date? To enlighten you on the subject, here is a small reminder
about its origin, its evolution and what it tends towards.
Born from the fusion of the word “meta” and
“universe”, it defines itself as a collective and shared virtual space. This
concept aims to create a physical virtual reality. Seen as the successor to the
internet by most economic players in the technology sector, it combines
augmented reality and virtual spaces.
The origin of this concept and its interpretations in time
To go further in its definition, we must
understand its origin. The term was first used in Neal Stephenson’s 1992 book
The Virtual Samurai. In his book, the American novelist tells the story of a
successful entrepreneur who challenges himself to create a parallel world where
augmented reality blends with virtual reality. Its purpose? To control the
minds of its users. This summary must surely remind you of Mark Zuckerberg and
his vision of the metaverse, which we dissect later in this article.
So the term metaverse has been around for 30
years. This is gradually democratizing, especially with the film Ready Player
One by the famous Steven Spielberg in 2018, or other cinematographic works such
as Matrix which also explores this concept.
This technology goes much further than virtual
reality. The latter has been around for several years and consists of fictional
characters driven by AI (Artificial Intelligence). In other words, the virtual
world is not a meta universe but rather a fictional universe created for
entertainment. The metaverse, however, combines video games, social networks,
e-commerce, immersive worlds in 3D, but also marketplaces.
It must be compared to the arrival of the internet
in the 80s. At that time, it was very difficult to understand what the internet
would be in 2020 and what uses would be made. The same is true for the
metaverse. While this technological design aims to become a real functional
economy and a collaborative and connected world, its evolution and use in the
next twenty years remains abstract.
Interoperability at the heart of metaverse, according to Roblox
Online gaming company Roblox is one of the first
to develop metaverse by building connected universes in which millions of users
come together to play. According to Roblox, a meta-universe product is defined
by several elements:
– identity:
having a virtual identity, whether or not linked to an actual identity;
–
immersion: the user is immersed in a meta-universe and disconnects from
reality;
– a civilization;
– an
economic system: the metaverse must have its own economic system;
–
socialization: the user must be able to socialize in a meta-universe;
–
diversification: a large amount of content is offered (objects, accessories,
works, etc.);
– unlimited
accessibility: a user must be able to access it at any time, wherever he or she
is;
– very low
latency: to ensure smooth operation continuously.
You will have understood, the metaverse is intended
to be synchronous, without limits and diversified. Here, any individual can own
property and invest. By respecting a certain form of interoperability, it
allows everyone to personalize their meta-universe and interact with the
various interconnected spaces, particularly via blockchain and NFTs.
The metaverse on the stock exchange
As you read below, this concept tends to respect a
certain interoperability to stand out from the simple virtual world. To do
this, it must develop its own digital economy. Already, many economic players
and stock market giants have jumped on the bandwagon and invested massively in
this technological revolution. Meta, formerly Facebook, has invested nearly $10
billion to develop this technology. But the social network is not the only one
to position itself. Nike, L'Oréal, Disney, Gucci, Puma and McDonald’s have all
invested heavily in the metaverse on the stock exchange. The Roblox video game
platform already uses virtual currency.
The NFT, in perfect harmony with the metaverse
Always to ensure “interoperability between
platforms”, this technology aims to exploit all economic possibilities and
adapt them in a connected universe. And this also goes through the NFT (Non
Fungible Tokens). Defined as digital property certificates, NFTs are now used
to secure transactions in the virtual art market. Their authenticity relies on
blockchain, a storage technology that identifies non-duplicable and
tamper-proof data stocks.
These digital tokens are already being used by
many collectors around the world. Paying astronomical sums to be the sole owner
of an immaterial work may seem surreal. Yet, this is the approach taken by many
collectors around the world. Their goal? To appropriate a work and be able to
admire it on any screen of exceptional quality bordering the real.
However, NFTs are not limited to artwork. Currently, video games sell skins and items that can be used through the NFT. According to Mark Zuckerberg, in the near future, NFTs could also allow users to buy items such as clothes and accessories, but also access new events, organized in the metaverse, as well as the virtual concerts organized by Fortnite. In other words, the metaverse economy should be focused on using NFTs to equip an avatar and allow it to move around.
What is the Metaverse Crypto?
What about cryptocurrency? Like NFTs and blockchain, it is also part of the technologies involved in metaverse. If the EU is to develop its own virtual economy, it is essential to rely on these technologies. Cryptocurrencies would serve as a medium of exchange to exploit these platforms. Going to events, attending meetings, buying clothes, etc., all the actions of real everyday life will be possible in the metaverse thanks to cryptocurrency.
Mark Zuckerberg launches the beginning of the metaverse
And to train future metaverse experts, some higher education institutions are already looking into the issue. This is the case of the Collège de Paris, which will open in 2022, Metaverse College, a school focused on the trades of this new technology.
Brands already investing in this technology
Meta (Facebook) is not the only company to have
invested very quickly. You may not know it, but many brands (that you must
know) have embarked on the adventure of meta-universes. Aware that the
metaverse will probably replace internet, Apple, Microsoft, Nike, Carrefour,
Adidas, all these brands have launched! Below you will find an explanation of
how each has invested in this technology and their future projects.
Apple
At the beginning of 2022, Apple, a member of GAFAM
(Google, Apple, Facebook, Amazon, Microsoft), reported its quarterly balance
sheet, which is the most successful. During the conference, Tim Cook, Apple’s
CEO, announced that the American company is taking a strong interest in the
metaverse universe.
He said, “We are an innovation company, so we’re
always exploring new and emerging technologies and I’ve talked at length about
the interest we have in these technologies right now.”
Apple is aware of the potential of metaverse and
has also recalled its 14,000+ AR apps available through the App Store, which
reach millions of users around the world. In parallel, Apple is currently
developing a headset for the metaverse and dedicated to video games.
Microsoft is betting on Mesh
Other GAFAM members follow the same path as Meta
and Apple. Microsoft is. The US company recently announced the launch of Mesh,
a collaborative communications platform that is set to become an extension of
Teams. But then how does Microsoft intend to position itself in the metaverse
via Mesh? By significantly improving remote collaboration and providing
interactive, immersive communication tools and training.
Nikeland & RTFKT, the virtual properties of Nike
On the ready-to-wear brand side, Nike is no longer
at its trial cost. Indeed, the American sports equipment manufacturer has
teamed up with Roblox to create Nikeland, a virtual world in which users can
dress their avatars with branded textiles. Thanks to Nikeland, it could
potentially take the temperature and test new products before launching them in
the real world. And to further expand into the metaverse, Nike aims to use its
metaverse to host virtual sporting events during international competitions
such as the Super Bowl or the World Cup.
Last year, Nike CEO John Donahoe announced in a
statement the acquisition of the startup RTFKT (to be pronounced “Artéfact”).
Through this acquisition, the sports brand intends to accelerate the
development of its metaverse.
Adidas
Its main competitor, Adidas, has launched the sale of NFT, “Into the metaverse”. This limited edition collection of non-fungible tokens has allowed the brand to break into the metaverse. Thanks to this, Adidas is going to create endless possibilities. And to make the odds as good as possible, she also bought land on Sandbox, a video game developed by Pixowl that appeals to the creativity of players, without any real initial objective. Purchased for 1.6 million euros, these fields allow players to bring usable digital accessories, but also create new experiences in the metaverse of Adidas.
Carrefour buys land in Sandbox
Sandbox has seduced more than one with the arrival of metaverse. The French brand Carrefour has also bought a small virtual plot in the metaverse of video games. If we go to the description of the land (at location 33,147) purchased by the French distributor, we can see that this area is equivalent to about thirty supermarkets. You wonder why Carrefour is going into the metaverse? Well, the answer is very simple: its goal is to revolutionize the customer experience in the retail sector. Nevertheless, Carrefour is still discreet about its real intentions. This suggests that the purchase is justified mainly by the fact that we are not missing out on this new technology.
Read also: The Metaverse in the USA: Defining a Digital Frontier
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