Last year we all witnessed the metaverse go from the idea of imagination to tech reality. Though it is not a new term, it gained popularity and became mainstream after Facebook rebranded itself to Meta Platforms Inc. (also recognized as Meta), in October 2021 to go beyond social media and unlock the new world of the internet.
This has been a decade-long journey for Facebook, which started with the Oculus acquisition in 2021. Oculus was among the first companies to popularize Virtual Reality (VR) headsets and change consumer perception about the technology.
The new era of blockchain metaverse
With decentralization at its core, blockchain technology is transforming industries and increasing transparency. The blockchain-based metaverse will have some exciting features like:
- Transparent and truly decentralized VR/AR games that players can trust
- The ability to own and trade digital assets
- A secure decentralized finance platform that allows users to borrow, lend or trade assets
The Emergence of Metaverse Platforms
The metaverse is a collective virtual shared space, created by the convergence of virtually enhanced physical reality and physically persistent virtual space, including the sum of all virtual worlds, augmented reality, and the internet. The word metaverse is a portmanteau of the prefix "meta" (meaning beyond) and "universe" and is typically used to describe the concept of a future iteration of the internet, made up of persistent, shared, 3D virtual spaces linked into a perceived virtual universe. A user in this environment can interact with people and objects, and it may be possible to do business or earn money in this environment.
Over the past decade, we have seen the rise in popularity of digital platforms; from social media platforms such as Facebook and Instagram to gaming platforms such as Steam and PlayStation Network. Some are free for use, some offer free trials or free content with optional paid subscriptions for premium features. However, each platform has been hugely successful in their own respective fields through a combination of ease-of-use, engagement and content.
The metaverse refers to a collective virtual space that users can access through various devices such as smartphones or computers. Users can interact with other users' avatars (digital representations) as well as other objects available only through these virtual realities.
Real Estate Agents Occupying the Metaverse
One of the biggest changes to the digital landscape between now and 2022, will be the emergence of a blockchain-enabled Metaverse.
A Metaverse (as we know) is a persistent, shared virtual world — one that's hosted by its users in a decentralized way. It's like the Matrix meets The Sims.
This new digital world will be populated with avatars that can buy and sell virtual real estate, create content, interact socially and do business with each other.
The first use case for this technology is likely to be gaming platforms, but it won't stop there. We could see whole industries move into Metaverse environments — think about virtual real estate agents or travel agents, for example.
To make all of this happen we'll need a blockchain infrastructure in place to underpin it all.
Blockchain will provide trust, reputation and accountability in Metaverse environments just as it does in our physical world — but potentially with fewer intermediaries.
The Rise in the Recruitment of Skilled Talent
The digital transformation of cities and industries is not a trend, but rather a necessity for the future. The recruitment of skilled talent remains the most successful way to foster innovation in a company or a city. Cities have begun to attract the attention of large companies. It's no longer just about real estate, supply chain or customer demand. These companies are turning their sights to another key factor: cities are where the talent is.
The future lies in blockchain
The race is on to recruit as many qualified workers as possible in order to make better use of technology and innovation. This race will only increase in intensity over time and because of this, we need to look at how we can make cities more attractive so that they can attract the best talent available. To do this, there needs to be a focus on subjects such as Internet of Things (IoT), artificial intelligence (AI), blockchain and cybersecurity.
These factors will play a significant role in the future development of our cities and industries.
What to Expect?
Ultimately, the Metaverse project is an exciting and bold venture, a portal into a brave new world of next-generation blockchain technology that will harness the power of natural language programming, artificial intelligence, augmented and virtual reality and other emerging technologies to create the immutable future of blockchain. With the advent of new technologies, blockchain has introduced a decentralized system along with smart contracts. It has been trusted by all the technological companies that this is the future and will be transforming their millions of clients base in the upcoming years. Metaverse is planning to be the front-liner and is going to introduce such a platform for its users. They will enjoy all the features and services in all parts of the world. This can help the world enhance their investment income by placing it on these platforms and using Metaverse during its initial stages ultimately leading to insatiable profits. Thanks to all who deduced this future through these insights!