What is the Metaverse?
The metaverse has made the headlines in mainstream news media lately, and many users have thought of it as the next iteration of the web, albeit with a bunch of interconnected virtual worlds. However, there is one fundamental difference that will set it apart from the internet that we use today: blockchain technology and its associated products and services.
We are now entering the era of Web 3, where data is a valuable commodity that is owned directly by the users, with blockchain-enabled decentralized applications, also known as dApps, supporting the genesis of a new economy built atop of crypto assets.
Understanding what the metaverse is exactly is a complicated task; there is an ever-evolving process to define what a metaverse entails, and we shall endeavour to do so through this article.
Defining the Metaverse
There is a lot of marketing hype surrounding the metaverse, much like how the world was clamouring about the internet back in the 1980s. However, the term ‘metaverse’ does not really refer to any one specific type of technology or product, but rather, signifies a broad shift in how we interact with technology and the world wide web.
Broadly speaking, the metaverse is a virtual space that is accessible through virtual reality (VR) or augmented reality (AR), though it does not necessarily mean that the space can only be exclusively accessed by VR and AR. Some gamers have likened Fortnite to a metaverse, though it can be accessed through PCs, game consoles, or even phones. In such cases, the criteria that a metaverse should fulfil becomes ever more confusing.
While the world is still seeking clarity on this particular topic, one thing is clear: the metaverse does not exist — at least, not one that we can all agree on. Most of us have a vague sense of what a metaverse should entail, and some companies are investing in certain aspects of that, but we still don’t know what a true metaverse is, or what it should have.
Some companies, like Meta, think that the metaverse is going to be your new social hangout spot, where you can interact with your friends and spend your time combing for sales on virtual clothing. Others, like Microsoft, think that it is the revolutionary breakthrough for work, where one could host virtual meeting rooms to train new hires or conduct business meetings.
Whatever the case, most technologists think that if the concept can be readily applied to new applications and products, there would be a transformative impact on society and industry, much like how the internet has become a basic human right in modern standards. The first few metaverse projects that successfully launches their iteration of the metaverse would shape the entire industry in years to come, simply by virtue of familiarity and the first-mover advantage.
The Case for Immersive Media
Humans are social creatures; we bond over new stories and shared experiences, whether it’s in person, through texting, or even via online games. Upgrades in technologies have made it possible for us to interact over more and more immersive mediums, making it so that we can engage in memorable conversations with another person as if we are face-to-face, even if we are half a world away.
Our quest for realism has boiled over to the development of the metaverse, where developers are seeking to replicate “real life” in a virtual world. Imagine wearing a VR headset and being transferred to an entirely different country, or a bustling metropolitan city. The implications for this are far and wide — new communities could be formed for different causes, or collective changes in the way that we consume content, interact with friends and purchase new products.
Introducing MicroWorld
MicroWorld is one of the earliest metaverse projects in the space, and our aim is to develop a decentralized world-building platform that allows people to build, play and engage in a vast world with endless opportunities to create captivating experiences.
The platform aims to combine the characteristics of scarcity, immutability, and liquidity of NFTs to contribute to the development of a brand-new metaverse, where users can collect exclusive NFTs to be used within the platform for trading, gaming, and more.
Extensive market research has been done to determine what our users are looking for, and we are constantly reinventing ourselves to make MicroWorld stand out amongst the competitors out there. By providing rich and immersive 3D experiences, we can create hyper-realistic virtual worlds where communities of users can thrive in. Our software development kit (SDK) will empower our users to be a true part of MicroWorld, creating and shaping their very own PLOTs of land that would become a cornerstone of their digital identity.
MicroWorld is more than a virtual world, it has a functioning economy that supports content creators and commerce, and where users can trade their cryptocurrencies for products in the form of NFTs. Our focus on the metaverse will be a testament to what the collective minds can achieve, and we may even inspire the many different metaverses that come about in the future.
Are you ready to journey into a new world?
To learn more about Microverse, visit https://www.microverse.global/
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