Metaverse- Frequently asked questions
Introduction
Metaverse has theoretically been in the concepts from 1980s but from last few years it has gained huge traction. Currently we see major experience only through games which has limited abilities but a lot is to be unlocked. Metaverse is the blank canvas and early adopters are testing and pushing the boundaries. Thats how every path of a new innovation technology is and gradually the potential gets revealed. The article talks about the basics of Metaverse and addresses common questions that I have come across from discussions and experience. Let us understand what Metaverse means for layman, how is it different from existing technology, why it has the potential of being the next internet.
What is Metaverse?
Out of many definitions over the internet, I find the below definition to be one of the most well-captured. It is by venture capitalist Matthew Ball-
“ Metaverse is a persistent and interconnected network of 3D virtual worlds that will eventually serve as the gateway to most online experiences, and also underpin much of the physical world. For decades, these ideas have been limited to science fiction and video games, but they are now poised to revolutionise every industry and function, from finance and healthcare to education, consumer products, city planning, dating, and well beyond. “
This is one of the most adorned definition of the Metaverse as of now and includes many elements that completes the Metaverse. Though at the same time this might be little overwhelming and I’ll try to make it little easy. Here’s my understanding-
Metaverse is a virtual environment where you can live, shop, learn, talk, play, work and enjoy. It is a network of different 3D virtual world that are connected and have set some base rules through which you can travel between these worlds. Also, it can be accessed from anywhere and anytime.
Metaverse is a network of virtual world and an evolution of the internet. Having said that, there are multiple questions about how Metaverse is different from Internet, Virtual world and more. Though in few cases the difference is a very fine line and as Metaverse evolves the answers will be more clear and perfect, but it still can be answered -
1. Metaverse vs Internet
Internet is the network which consists of servers, computers and many electronic devices that enables us to access information stored from any part of the world where we are online. When we are online i.e have connected our device on the internet we send request to access a website. That request goes through the internet (satellite, wires) to a server. From the server the stored data is fetched and is pushed back through the internet to our device. We are the spectator in the internet.
On the other hand, in Metaverse we are more of a participant. Like internet, we are able to access all the information but through an evolved version. A very vague analogy is the hyperlinks are the portal and the websites are the 3D virtual world. We travel between these 3D virtual worlds(websites) through the links. Desktop, mobile phones restrict the way we access them, headsets(AR or VR) are the true way to experience the complete Metaverse.
2. Metaverse vs Virtual World
Now with this, it gets further interesting. Since Metaverse is still at a growing stage, we all are trying to explore what shape it can take. No ones expert yet. Hence many mix usage of words occur and sometimes there is no defined answer as well. Like currently we have seen gaming to be the closest to a Metaverse experience. Games like Fortnite, Minecraft, Roblox contains aspects of Metaverse but they are actually virtual world. The reason we give them identity of a Metaverse is because-
- We are present in middle of the game like we expect in Metaverse
- We interact in the game with activities like we expect in Metaverse- commerce, social, entertainment
- We have an identity of avatar
- Its a virtual world that may or may not be a replica of real world, but we share it with other folks in real time
But the reason it cannot be called a complete Metaverse is because-
- The different games are not connected yet. You cannot travel from one virtual world to another
- The games do not lie on some common rules or protocols that apply to all the virtual world
- User’s identity, profile, assets, ownership is not transferrable between these virtual worlds
Thereby these games have an identity of Metaverse but are virtual world. Though it won’t be wrong to say that they may become complete Metaverse in near future.
3. Existence of Multiple Metaverse
Another common question comes is can multiple Metaverse exist? Or will it be just one? Currently it is a race where all big tech are invested heavily. Many Web 3.0 companies and big tech organisations are trying to build their Metaverse ecosystem. Reason?
For Web 3.0 companies they know that tokenisation will be adapted to the Metaverse and it is these tokens(protocols) through which Metaverse activities like entertainment, commerce etc will be performed and will make money. These are the gateways. On the other hand, for few big tech (like Meta, Microsoft, Apple) they don’t want to miss the opportunity of owning the stack. Reasons like owning the hardware or leveraging the acquisitions or creating a new category are few if not more motivations for the big tech to invest heavily in Metaverse.
Though very early to say but in the future there might be only few(3–4) major Metaverse that will exist which will have interoperable protocols that can allow user to travel from one Metaverse to another. On top of these Metaverse, multiple applications can be built.
4. Decentralisation is must-have for Metaverse?
In a nutshell, decentralisation is not a must-have for Metaverse to start with. One can create a virtual world and identify it as a Metaverse. But then it is a virtual world with some elements of Metaverse and not exactly a complete Metaverse.
Decentralisation is the lever to move from Virtual world to the Metaverse. Metaverse inherently has the element of being interconnected and allow different assets that can be plugged-in. This property of interoperability, connecting across and having some base protocols can be unlocked only through decentralisation.
Though there can be a possibility that Web 2.0 companies can create an amazing huge virtual world and identify it as Metaverse with some feature of restricted interconnectivity. This does not make it complete open like the internet but then has some restricted elements so that can be identified as Metaverse. In the future, there are possibilities that both such Metaverse might co-exist with virtual world having some restricted features that allow to have our assets in and can be plugged-in and an actual open Metaverse with complete decentralisation.
Conclusion
Metaverse has come a long way but still has a long way to go. There are multiple layers involved in it and each layer needs to evolve so as to support Metaverse complete ecosystem. It is not a single big tech company’s task but need an industry to work in that direction. We have seen in the past how internet evolved and in the similar way Metaverse will. Though headsets are not replacing mobile phones, but the chances are that headsets will be an addition to list of existing devices like iPods, smart watch etc. A fully immersive is super cool but we cannot completely opt out of the physical world. Time isn’t very far when we experience how these two- physical and virtual world will connect and interoperate.
