How Will Metaverse Development Progress? A Version You Mightn’t Have Imagined!
There has been a tech movement going on on the side amidst a crumbling economy, possibly fuelled by one of the biggest geopolitical issues right now. The movement labeled as Web3 calls for the decentralization of the internet and the addition of technical elements that bring real stuff virtually. You could wonder, “Why go for virtuality when the real world still works fine?” Ask yourself whether things are fine everywhere, and you most probably would not get a positive response. With our world in such a state, it is no wonder Web3 technology and the virtual worlds it brings along could be game-changing.
A Refresher on Virtual Worlds
Virtual worlds or Metaverses, as they are known among Web3 enthusiasts, are platforms where people can socialize digitally using immersive technology. Although metaverse development today hasn’t reached the capability to tap into full-scale immersion, research is undergoing full swing, and we could soon achieve immersive experiences.
The platforms offering virtual experiences today, including Decentraland, The Sandbox, Somnium Space, Polkacity, CryptoVoxels, and The Otherside, are primarily dependent on gamified experiences rather than what Hollywood’s Metaverses had shown us. It is still the beginning, and socializing experiences have already been present in Decentraland and The Sandbox. Remember brands opening their doors on these platforms? The influx is only going to increase from here.
Here’s a graph depicting how the metaverse market will evolve over the next decade.
Why are Even Metaverses Needed?
Metaverse platforms offer hardcore decentralized experiences to individuals. What does that mean? With Web2, all data is in the hands of intermediaries who can use it to achieve their aim, meaning your data might be used inappropriately for the gains of someone else. Web3 eliminates such concerns by using blockchain technology.
While blockchains alone can’t run metaverses, emerging technologies such as virtual reality (VR), augmented reality (AR), artificial intelligence (AI), and machine learning (ML) can help bring the immersive elements into play. The industries surrounding these technologies have already been capped at billions of dollars, with more expected to be rushed in the next decade.
Metaverse Development from a Developer’s Perspective
Wait, don’t scroll through! This clearly isn’t a section full of code blocks. We just talk about some points that make sense for a metaverse developer. Given below are elements that empower metaverses:
→ Censorship Resistance — No one can control what data is released and what isn’t/
→ Transparent — All transactions and modifications are visible to everyone across the virtual world.
→ Trustless — Users need not depend on a third party to process transactions; everything happens between peers through blockchains.
→ Programmable — Plots in these worlds can be programmed by users to create unique ventures. Developers can create artificial scarcity to increase the value of their platform.
→ Decentralization — Data generated by users on the metaverse belongs completely to the user, and no one can use them without explicit permission.
→ Permissionless — These applications are built on permissionless blockchain networks, meaning users will never need the permission of an intermediary to conduct transactions.
These elements show that metaverse applications can, indeed, be powerful enough to eliminate the modern-day internet and corporation-based norms and bring control to users.
Different Stages of How Metaverses Could Pan Out
- The first one is the stage we’re in, where we develop an understanding of Web3 technology and its elements. Metaverse platforms are in their infancy, as blockchains affirm their position as the data holders of Web3.
- The next stage is when we create AR-powered devices such as suits, treadmills, and gloves. These devices can be helpful in bringing near-immersive experiences to users, although there are restrictions to what one can and can’t do.
- Then comes the stage where new-gen VR-based devices are created (not the bulky visors of today). Such devices make metaverses accessible to anyone, as by then, technology can make it easy for people to link their brains to the blockchain (Sounds bizarre, huh?).
- The last stage is when no one can distinguish between the real and the virtual worlds. Advanced technological evolutions in the sectors of energy will help generate power to run metaverses as the need for transport will reduce. Furthermore, there are many unthinkable possibilities that are beyond the scope of what we discuss now.
Concluding Thoughts
Thus, irrespective of whether you believe it or not, metaverse technology has a bright future as it strives to become the internet of tomorrow. With that being said, businesses should be ready to tap into it to reap the benefits and stay at the forefront of innovation. People also cannot avoid them totally, although they can live without using them, just like how people live without a mobile phone or internet connection. You know how that sounds! Also, note that it takes time for metaverse development to evolve to such extreme levels, and new lines of thought can take the place of whatever we’d thought of earlier. Be ready and embrace what the virtual world has to offer!
