The Metaverse: What It Is, Where to Find it, And Why Are Companies Investing in it

Published December 11th, 2021 - 01:00 GMT
The Metaverse: What It Is, Where to Find it, And Why Are Companies Investing in it
To quench your curiosity, we are here to dig deep into what Metaverse really is, where you can find it and why are many companies curious to invest in it. (shutterstock)

Technology has become so advanced that it has new surprises around the corner more often than ever before. The latest of these innovative solutions is Metaverse, which has everyone rallying to understand what it really is and how to invest in it. 

To quench your curiosity, we are here to dig deep into what Metaverse really is, where you can find it and why are many companies curious to invest in it. 

Metaverse

What is Metaverse? 

To break things down, let us look at Metaverse as if it is outer space. What outer space really is, is an extension from our real physical world. And that is exactly what Metaverse is to the world of technology. If we look at the word itself, “Meta” means beyond or after, whereas “verse” is derived from the word universe, and thus when put together it refers to a virtual or outer universe. First introduced in 1992 by author of Snow Crash, Neal Stephenson, Metaverse was referred to as a digital world where each person has their own digital avatar. And while there is a sense of eeriness surrounding the fact that Stephenson might have one way or another predicted having a virtual world where people can do literally everything, one cannot deny the great possibilities Metaverse can introduce. 

What Metaverse is meant to do is integrate the virtual world more and more into our physical one, until it becomes a more permanent part of it. By building on the advancements in technology and the internet, Metaverse will be able to make our world a real 3D experience. This means that we will no longer be just accessing the internet, but instead we will be living in it. 

“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.” - Matthew Ball, Investor and Manager Partner of EpyllionCo

In short, what the dream of having an emerging Metaverse entails is the ability to do everything in the virtual world.

Where can we find Metaverse? 

Let us go back a little bit in time and look at The Sims game, which revolved around creating digital characters and shaping their lives. Another game that holds some resemblance to Sim City is Second Life, which was first introduced back in 2003. Players in Second Life have their own avatar and can do everything they want in the virtual world. The game serves as a way to have a virtual life where you can duplicate your own reality. Back then the virtual world was meant to stay virtual. Fast-forward to today, where popular games like Fortnite and Roblox have already greeted advanced platforms that can be the base for a Metaverse. 

While we have a long way to go when it comes to fully capturing Metaverse, many are actively working towards building it. The idea behind such advanced technologies is that with the right resources and roadmap, anyone can create it. So when it comes to Metaverse, it is not about where you can find it, but rather whether or not you can create it! 

Why are companies investing in it? 

Many believe that Metaverse is going to build on the internet and potentially become the next big tech thing. However, unlike the internet, Metaverse will not be public property. Therefore, leading companies are coming for it, and some even have the intention of completely owning it. With an increase in demand, it is only natural for more and more companies to want to invest in it. 

One of the most spoken about examples is Facebook. In late October, the tech giant’s CEO, Mark Zuckerberg, officially announced that Facebook will become known as Meta. That can’t be a coincidence, now can it? What was known as Facebook aims to become the next biggest Metaverse, and ever since it changed its name, its share prices have risen by more than 9%! With where the world seems to be handing, Metaverse seems to be a good way to explain how our future will look like. Experts and leading tech moguls are even highlighting how Metaverse has a great potential of transforming the way we work, live and communicate. 

For instance, some companies are eager to get a head start and have turned to meta-themed EFTs. With companies like Roblox and Intel having stocks in them, these meta-themed EFTs now have $800M in assets, reports say. Even though investing and being part of Metaverse might seem like a good move, investors should stay on the lookout. The race is still early on and no one really has a full understanding of what Metaverse really is or how far it will revolutionize our world, and with that comes a whole lot of risk. 


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