Dubbed as the next internet, the metaverse is the latest trending technological concept, all thanks to Facebook’s name change to Meta. Since it became a buzzword in 2021, Questions have been raised on what the metaverse is, whether it is real and how people will access it since it’s another world on its own.

 

This Post Contains

• What Is Metaverse?
• Why Is It Called Metaverse?
• Is The Metaverse Real?
• What Does The Metaverse Look Like?
• Is Facebook (Meta) Or Mark Zuckerberg The Owner Of Metaverse?
• How Can I Access The Metaverse?
• What Is VR?
• What Is AR?
• How Do I Invest In The Metaverse?
• How Can I Buy Land In the Metaverse?

 

While big companies are rolling out projects in the metaverse and investing millions and billions of dollars in this future of the internet. You need to keep yourself abreast of the latest developments on the metaverse and also acquire knowledge about the metaverse.

 

What is the metaverse? What can we do in the metaverse? Is the metaverse real? And Should we Invest in the metaverse?

All this and many more questions will be answered in this detailed analysis of the metaverse.

• What Is The Metaverse?

To give you an idea, Imagine someone asks you the question; What Is The World? The definition you would give the person is exactly what the metaverse is but on the internet. 

The metaverse is simply a “virtual world“, it’s the internet version of our world where people will through their avatars (digital representations of themselves) do what they normally do in the real world virtually.

These things include; Working, Socializing, Attending virtual concerts and events, playing games, watching movies, going on virtual tours, attending virtual meetings, classes and workshops e.t.c.

To make carrying out these activities possible, technological concepts such as Virtual Reality (VR), Augmented Reality (AR), Extended Reality (XR), Mixed Reality (MR), Web3, Artificial Intelligence (AI), 3d technology and Blockchain technology will be utilized.

• Why Is It Called Metaverse?

The term ‘Metaverse‘ was first coined by Neal Stephenson, an American author, in his 1992 science fiction novel Snow Crash. The book highlights a virtual world where people interact through their avatars.

 

In addition, ‘Metaverse’ is a blend of the words ‘Meta‘ and ‘Universe‘

Meta, a Greek word meaning “after or beyond’, “more comprehensive” or “transcending.”

 

• Is The Metaverse Real?

The metaverse doesn’t exist yet, though we can see some rudimentary features of the metaverse, in some games and virtual worlds like Decentraland and The Sandbox. But the metaverse is supposed to be interconnected just like the internet, contrary to this compulsory feature, platforms currently touting themselves as a metaverse are not interoperable with other metaverse platforms therefore the concept of the metaverse hasn’t materialized yet.

It might take a few years before we actually have the metaverse.

• What Does The Metaverse Look Like?

It’s a 3d virtual world in which people can interact with each other through their avatars. 

People can also create digital properties such as Real Estate, Shopping malls, museums and Casinos e.t.c.

• Is Facebook (Meta) Or Mark Zuckerberg The Owner Of Metaverse?

Just as no one owns the internet, no one owns the metaverse, Meta (formerly known as Facebook) is just a metaverse company just like it’s just a social media company.

Mark Zuckerberg is only the owner of Meta, it doesn’t own the metaverse just like he doesn’t own the internet.

Related: 10 Best Ways To Make Money From Your Land In The Metaverse

• How Can I Access The Metaverse?

To play metaverse games and interact with metaverse platforms in general, you need a Head mounted device (HMD) such as a VR headset or AR glasses. Metaverse companies are currently developing new ways people can interact with the metaverse and have an immersive experience. Technological devices such as smart watches are being developed.

• What Is VR?

Virtual reality (VR) is an artificial environment that is generated with computer simulations, creating a 3d environment that makes the user feel immersed in his surroundings while in a virtual environment.

The user interacts with his surroundings with the aid of a VR headset which makes the 3d artificial environment appear similar to a real-world environment.

Virtual Reality is an important concept currently being used in the metaverse, it’s also an integral part of the future of the metaverse.

• What Is AR?

Augmented Reality (AR) overlays the user’s real-world environment with computer generated simulations to enhance the user’s experience.

The information only provides the user with additional data and modifies the user’s real-world environment with the visual, auditory or sensory information.

 Unlike virtual reality, augmented Reality isn’t totally virtual, it’s a combination of both real-world and virtual environments.

Augmented reality devices such as AR glasses and other head mounted devices are currently being developed by metaverse companies such as Microsoft.

• How Do I Invest In The Metaverse?

For those who bought digital land on metaverse platforms such as Decentraland, The Sandbox and Axie Infinity in their early days, investing in those  platforms has been a profitable venture.

To invest in the metaverse, you can:

1. Invest in Real estate; Buy digital land in a metaverse platform and rent it out to game developers or resell once it appreciates in value.

You can also develop digital properties on the land.

2. Buy metaverse cryptocurrencies with good potential; SAND, MANA, GALA, TCG2.0, POLC and AXS are good examples.
3. Create virtual properties; Build a shopping mall, casino and host gaming contests on your land. 

• How Can I Buy Land In the Metaverse?

Parcels of land in the metaverse are represented in the form of NFTs, to buy land in the metaverse;

1. You can use the platforms marketplace; Most metaverse platforms have their own marketplace where you can trade digital properties of their platform.
2. Use a third-party marketplace; OpenSea an NFT marketplace is a notable third-party marketplace where metaverse platforms such as Decentraland approve the platform as an alternative platform through which users can buy and sell their land.
3. Buy through a metaverse real estate agent; Metaverse real estate agents help connect buyers to intending sellers of virtual land.