Building Blocks of the Metaverse
“Laying the foundation stones for the new age world”
The Metaverse has not been fully defined yet but the concept is a must-read. So breeze through that before reading anything else on the Metaverse.
For the future vision of the Metaverse that is increasingly becoming popular where we imagine this parallel yet unified virtual world and we dream of teleporting from one ecosystem to the other in our digital avatars — well a lot still needs to be done to reach till there. Is it possible? ? Definitely yes! How ?
This can be better understood by diving into three developing building blocks each with many elements and each playing its own role in bringing the Metaverse to life.
As of today, we do not have the full infrastructure or the technological requirement for our futuristic vision of the Metaverse. But that does not mean we are not getting there. A lot of research, invention and innovation in the three major building blocks and its constitutional elements will over the next decade help develop this parallel universe.
# Block 1- The Hardware Block
Infrastructural change, device navigability and mass adoption are some important realizations for this block to turn into reality sooner than ever.
- Wearable devices- reducing the visual and sound barrier
If the current 2-D internet has to turn into a 3-D Next Gen immersive version then this will be supported by Augmented Reality ( AR) and Virtual Reality ( VR) . For me to create my digital avatar and allow it to go shop in the mall or sail on a yatch or study in a classroom in the metaverse, a seamless integration is needed that will allow me to experience all these activities. AR allows our surroundings to be filled with persons, places, objects, and activities that actually do not exist, and yet they will seem deeply authentic to us. AR and VR technologies require wearable gadgets and devices like glasses, headsets etc to allow a stimulating seamless immersive experience. Some commercial examples in this include Rayban-Facebook glasses, Oculus, Cisco WebeX Hologram .
2. Tactile/Haptic wearables- reducing the touch and feel barrier
Touch sensation gives a deeper understanding of things- the tea cup is warm, the chair is wet, the blanket is soft, the ice is cold— small things that are a natural part of our lives. While AR and VR gear help us to visualize and listen but for a truly seamless experience, it becomes important to touch and feel. This is where haptic suits, tactile gloves and sensors come into play. If you are active in the gaming environment of today and have haptic gloves or a Teslasuit then a touch of the rock under your foot or the vibration of a falling building in enemy territory gives a thrill like none other. Similarly these haptic wearables of tomorrow will allow me to feel the touch of my friends hand in a concert or a doctor to feel a distant patients muscle spasm or dislocated bone.
Zuckerberg recently showcased experimenting with tactile gloves at Meta’s Reality Labs. While this is still work in progress but the wearable of tomorrow must look more compact, wireless and prettier for it to go commercial and drive mass adoption. Do watch Zuckerberg with haptic gloves and head gear to give you a better understanding of the device infrastructure under progress for our future vision. It definitely has to look smaller, sleeker and more adaptable for mass user adoption. And yes cost factor will be another interesting debate but let’s reserve that for another time!
3. 5-G enabled infrastructure — reducing the real time connectivity barrier
For the above wearables to turn into a reality with real time response to the nth second, we need a super strong 5th Generation Internet Networks (5G).
As Verizon rightly says:
“Growing access to 5G is going to support the ongoing development of the Metaverse. Constructing fully interactive 3D Metaverses, replete with textured media from video and immersive sound, relies on heavy digital files far denser than file types required for video or other content. With peak upload and download speeds significantly faster than 4G, 5G can handle these bigger files”
#Block 2- The Currency Block
For any kind of exchange to happen you need currency and so be the same in metaverse too; after all we did say that we are emulating real life to virtual. Want to enjoy a concert by Beyonce or study Astrophysics — well loosen those purse strings!
- Cryptocurrency
We have been experimenting in the real world with crypto for almost close to a decade and it seems beyond doubt that it will be an integral part of the payment system in the metaverse. Blockchain based crypto enables transactions to be cryptographically secured and protected. So Blockchain based cryptoassets will surely be an integral part of how the metaverse will be implemented.
Now the question may arise which crypto- Bitcoin, Ethereum, Cardano ?? And the answer is simple yet complex… it will most likely not be one single coin but a basket of them and with time one may dominate ( or may not, too early to predict yet). Just like in the real world you have many currencies like US Dollar ( USD) , Euro, Great British Pound ( GBP), Indian Rupee ( INR) but one benchmark dominant currency — USD; similarly could be the case as things begin to evolve.
2. Non- Fungible Tokens ( NFTs)
Now Cryptocurrency of today are fungible tokens. They have a tradeable value assigned to them. “One bitcoin is considered to have the same value as every other bitcoin in existence, and they can also be indexed to a value relative to other currencies or commodities” . So if I let you borrow 2 bitcoins interest free for a week, you have to return 2 bitcoins back after a week…not 1 not 3 but 2 bitcoins. So tradeable value or fungible in nature.
NFTs similarly resemble cryptocurrency in the aspect that they are generated and protected through blockchain technology. They differ from cryptocurrency because of their non-fungible nature or in simple terms NO tradeable value is assigned to an NFT in itself. An NFT has no value in itself. It is an indestructible blockchain protected record of ownership that clearly points who owns an asset- a painting or a 3D digital art or a song. So then why are NFTs important ?? Ownership is important to determine a sale- something we know so very well in the real world; well applies in the virtual one too ( remember I did tell you the metaverse will embody our real well, so here too )
3. Crypto regulatory framework
Cryptocurrency, its usage, acceptance, laws are still evolving. NFT is a newer introduction which picked pace in the pandemic times. For consumers to have confidence in any currency, regulation is a must. We have faith in the USD because the U.S. Federal Reserve controls it and whether during recession, depression or boom — we show confidence and listen when the Fed Reserve speaks. This is the trust we have in their regulatory ability that keeps the world markets from rocking. This and of course market economics.
Likewise eventually a stable universally accepted framework which is legal and has standing in both real and virtual world will be the hallmark of the Metaverse currency mechanism.
#Block 3- The Technology Block
Technology will be the enabler of the Metaverse vision of tomorrow. Massive and fast-paced development in Artificial intelligence ( AI ) and Blockchain technologies will be at the fore-front. Technology will enable storage, protection, security and much more.
- Storage
Perhaps the biggest stumbling block as of today is “Metastorage” .
Do we do have the technology today to store the massive data that our digital avatars will create with AR/VR and teleporting in real time from one ecosystem to the other within the metaverse? Tech experts will clearly tell you “No, we do not”.
Are we working on developing it ? Yes.
IPFS, MEFS storage systems and Shardless architecture are some steps in this area. So as of today the metaverse is not scalable, but soon will be.
2. Data protection
We have long been struggling with data privacy and security in the online environment and continue to do so even today. Embodying the Metaverse will alleviate security concerns and will require measures to ensure security to a completely new level. We will need new methods of personal data and privacy protection to ensure the safety of identity, possessions and digital avatars in the virtual world. Are we doing much about it ? Not yet. So tech experts need should start on making sure that system designs are such that we do not struggle with security like we did in web 1.0 and 2.0
3. Environmental concerns
Technology will also need to find solution to the environmental concerns surrounding Bitcoin and other cryptocurrencies which require large amounts of energy, due to their computations needed for the mining process.
Now since the metaverse is still building up so many new blocks will get added time and again. Stay tuned in for more and do read the basic concept first to understand and delve deeper.
