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How much do you know about “Metaverse”?

Let’s take a look at the term “metaverse”: How has it been since Facebook changed their name into Meta until now?

When was the Metaverse first mentioned?

The phrase “Metaverse” was first mentioned in 1992 in Neal Stephenson’s Snow Crash, which is defined as “a computer-generated universe that exists with the real world, where humans can rewrite objects such as “ social norms” or “a digital environment where people exist through avatars, helping them to move from the real world to the virtual world so much that there is no longer a border between these two worlds”.

In 2021, Facebook once again makes the phrase “Metaverse” hotter than ever with Mark Zuckerberg’s statement at the Connect virtual reality conference: “We believe that the metaverse — or digital super-universe — will be the successor to the mobile internet, we will be able to feel like meeting each other in the present — like we are right here with everyone — no matter what. tell the distance between us.”

Nick Clegg, vice president of global affairs at Facebook says that: “The metaverse will be a series of interconnected worlds where users can easily move from one area of Facebook to another adjacent world which is created by other technology companies such as Google, Apple or a major video game publisher.

Or there are also some movies that have mentioned the “metaverse” like “Wall E” which was set in the post-earth world, or the movie “Ready Player One”.

Thus, the term “Metaverse” has been mentioned for a long time, or even they have appeared in our imagination of an interesting and modern world but we still do not know what to call it. .

How should the metaverse be understood?

Metaverse is a rather unfamiliar definition to the current online community, but for electronic users, the metaverse can be seen as a world built for players to live in.

In fact, the metaverse is where the physical and digital worlds come together. It’s a space where everyone’s avatar can interact at work, play, meet at each other’s offices, go to concerts, and even try on clothes.

Relationship between metaverse and blockchain

Metaverse can be set up on many different platforms, but in a world that promotes unlimited creativity, freedom of interaction, and decentralization like Metaverse, it seems that Blockchain will be one of the key technologies in this world.

Currently, in terms of content, there are many big names like Google, Facebook, Twitter, Netflix or Gaming names like Playstation, Fortnite, Roblox, Unity, .. One problem that can be seen clearly in these platforms is that it is almost impossible for users to interact with each other. Users cannot trade or move a very rare Fortnite item for an equivalent item in the Metaverse.

In addition, the assets owned by players do not really belong to them in these games, which makes personalization and ownership not appreciated. Just a few factors affect these assets, these properties may disappear from the player’s account.

And the above problems can be solved by Blockchain

Metaverse’s tremendous growth rate

Metaverse is growing very fast. According to Bloomberg, in 2020 the market value of Metaverse has reached nearly 500 billion USD and could reach 800 billion USD by 2024.

On February 16, the Metaverse Committee of the China Mobile and Communications Association admitted 17 new members who are Chinese high-tech companies. Thus, the Metaverse Committee has a total of 112 members who are reputable technology companies and experts.

2022 is predicted to be a big year for the metaverse, as Meta, Apple, Microsoft, and Google are all gearing up to release their new products.

Technology companies are investing billions of dollars in research and development of prototypes and technologies, preparing for a virtual war when their products hit the market. According to Crunchbase, venture capitalists have invested $10 billion in virtual world-related startups by 2021. This figure does not include the budget from Big Tech. Goldman Sachs analysts estimate about $1,350 billion will be invested in developing virtual technologies in the coming years.

Summary

Perhaps our generation is very lucky because at this time we can witness the great advancements in technology, the transition between the real and the virtual worlds, which has only appeared in the past few years.

However, the nature of technology is still dry calculations that cannot think about emotions like humans, besides, companies want to contribute to the common development of the world on the one hand and want to earn money on the other hand. With money from technology, sometimes we have over-hyped keywords, forcing us — both as investors and users to be very alert, proactively update news, make multi-dimensional inferences to be able to make the most accurate decisions, and positively affect our personal life.

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