The potential of metaverse in the future

Molly Babeh

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The world of science fiction is quickly becoming a reality with the creation of virtual worlds and social media. Today, people can create avatars to live out their fantasies in the metaverse. In his paper "Why Augmented Reality is Important," Jamie Madigan writes, "Virtual reality may be great for gaming, but augmented reality (AR) fundamentally changes how we interact with the world."

Even though it's in beta, we're already seeing a booming economy in the metaverse that will likely create a new multi-trillion-dollar playing field.

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Since the beginning of this year, the technology industry has also shared the general difficulties of the economy due to rising interest rates, raising concerns about the effects of rising interest rates on the industry, especially on businesses. The tech industry is forecasting declining profits. While interest rate worries may continue to fuel uncertainty in the tech industry, the virtual universe segment offers a bright spot for the long-term future.

A virtual universe is a digital space, mainly operated by augmented reality (AR), virtual reality (VR), and artificial intelligence (AI) technology in which people can interact with each other in real-time. a realistic virtual environment. This is the new world where real and virtual life intersects, changing the way we live, work, and play.

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The virtual universe is built on the Web 3.0 platform, which is the next generation of the internet. Just as personal computers were the driving force behind the first phase, smartphones were the heart of the second and now we are starting to see the introduction of many of the fundamental technologies needed. needed to create virtual universes such as virtual reality, blockchain, and computing power.

With more than 60% of people in the world connected online and spending an average of 5-6 hours a day online, in the not too distant future, the digital world will become a "real life" reality and even become a reality. an important part of our lives.

The first stage of the virtual universe is also quite similar to the world of the game (video game). The majority of young users - mainly Gen Z and Alpha generations - are already tech-savvy citizens using virtual avatars, trading, and living a digital life parallel to their real life.

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In the context that the young population will continue to grow, the virtual universe is expected to develop and potentially become the next-generation internet.

Drawback

Before the virtual universe becomes something mainstream, a series of hurdles from the authorities to issues related to computer capacity and data security needs to be overcome.

In this early stage of development, investors should pay attention to avoid speculative factors related to the virtual universe, such as the current NFT. Instead of diving into buying NFTs or cryptocurrencies directly, work with people who are considered experts in the development of virtual universes.

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