Today, the metaverse is defined as a blend of virtual and/or augmented reality, (as well as video), in which people can live in a virtual, programmed, and constructed world. The catch being that this world is distinct from reality, yet still inspired by the real world.
The Metaverse is represented as a digital world where objects like real people, places, and things live digitally. It relies on 3D technology, as well as augmented and virtual reality. Current examples of the metaverse concept today include Sandbox and Roblox games.
These programs substitute your physical presence with features such as an animated avatar. These programs however also include live videoes and static images to enhance your experience.
Why Does the Metaverse Matter?
The main goal of the metaverse is to bring people closer by using immersive and real-time experiences for users. Statistics show that by Q4 2020 (during the pandemic), the Roblox daily active users increased by 170.8% from 2018. Coincidentally, this was also the trend across most social gaming platforms such as Fortnight and Minecraft. These platforms for the metaverse could have appealed to a large number of users because they use avatars as a substitute for physical presence and allow users to communicate with one another.
The metaverse concept will assert influence across different aspects of our daily lives. Gaming, collaborating on projects, communicating with friends – all of these tasks will seamlessly come together on the metaverse platform.
What Is the Metaverse NFT?
A non-fungible token is a virtual intangible item like an image, video or in-game item. These NFT’s enable users to claim ownership or sell digital items (i.e. piece of art, a gif, a trading card, etc.).
What Is the Metaverse Stock?
A metaverse stock refers to the stock of a company that deals with this emerging metaverse technological trend. The promising future of the metaverse stocks has motivated investors to invest. A few metaverse stocks in the market include:
1. Meta Platforms Inc. Stock
Previously known as Facebook, Meta is one of the biggest advocates of the metaverse concept. Meta is ushering its users and potential investors into the metaverse world by collaborating with AMD, a popular chip manufacturer. The metaverse is expected to safeguard user data. AMD is to provide Meta’s data center and all the data chips Meta will need to store user data more securely. This allows users to interact with others in the metaverse, without having to worry about data breaches.
2. Microsoft Corporation Stock
The Microsoft Corporation Stock (MSFT Stock) has also experienced more traction and has created the “Mesh” feature set to be launched in 2022. The Mesh feature is envisioned to make Microsoft Teams more effective. It will feature elements of mixed-reality. Collaboration and communication through chats and virtual meetings will become easy – regardless of how far people are from each other.
Final Take Away
Metaverse is an exciting concept that is here to stay. However, it’s still unclear how a realistic metaverse that perfectly mirrors actual life can be, or how long it would take to create. Embracing the potential benefits that the metaverse could bring to businesses can lead to individuals and businesses being one step ahead. So, why not give the metaverse a chance?