5 Reasons Why the Metaverse Will Change Life as we Know it

Last year the crypto community was all abuzz about “NFTs.” This year it's the “Metaverse.” It is as if the tech world is always trying to one-up itself with buzzwords. The great thing about these words? The world is paying attention. 

The Metaverse is about people wearing 3D glasses and attending virtual meetings, right? 

Yes. Yes. 

But that’s only a tiny part of it. This flavor of the moment is far more than the wearing of Matrix glasses or humans pretending to be iRobots. It's why all the big brands can't seem to take their eyes off it. 

Facebook (sorry, Meta) entered with a splash; Microsoft jumped in with its mesh for Microsoft Teams, Intel aped in, Nike and Adidas, Nvidia, and even gaming companies like Epic Games and Ubisoft. 

What makes this "Metaverse" so enticing is its potential impact on the average consumer. From the corner of your home or on your smartphone, the Metaverse opens up a world of new possibilities. It ushers the user into a digital world that is so real that the brain accepts it as reality. And, it's here to stay. 

But first, what is this "Metaverse?" 

‍

The Metaverse

The term "metaverse" was first used in Neal Stephenson's 1992 science fiction novel Snow Crash. He imagines a virtual world in which humans, as avatars, interact in an online virtual world designed to resemble the real world.

At its most basic, the metaverse combines numerous technological elements, such as video, augmented reality (AR), and virtual reality (VR), in which people can reside within a digital world. The power of the metaverse concept stems from a vision in which users can play, work, and stay "connected" with others through work events, conferences, virtual vacations, and entertainment activities.

Unlike our current world, where the VR headset is only used for gaming, the virtual world or metaverse opens the door to new frontiers. where the connection is limitless. A representation of yourself, an avatar, exists in the metaverse once you join. 

The tech world is so optimistic about this new digital space because, for the first time, technology is almost there, with tech improvements in VR gaming and AR seemingly close to what might be needed.

But you might be a tech skeptic, or you just don't understand the buzz. Be rest assured, you're not alone. And read on. Here are some ways the metaverse will change life as we currently know it. 

‍

Work In The Metaverse

Work is ever-changing. As soon as the pandemic hit, online video meetings and workspaces became popular. Zoom and Teams became must-haves. But with them came problems. Because of the lack of in-person interactions, disengagement became an issue. 

Telecommuting users frequently complain about their inability to read body language and communicate properly. Managers also struggle to keep track of team productivity.

This is the most significant benefit of working in the metaverse. Telecommuting users frequently complain about their inability to read body language and communicate properly. Managers struggle to keep track of team productivity.

The Bionic Virtual Meeting Room concept is a game-changing initiative from Apple that combines hardware and software to allow individuals to connect in a virtual setting. People are depicted explicitly as avatars, which transmit real-time facial emotions, mouth movements, body language, head tilts, and other gestures. Similar to Apple's Memojis, but in 3D with reasonable spatial interaction. 

Meetings with suppliers, potential employees, HR meetings will easily be held in the metaverse. Microsoft Mesh already purports to do this. 

With the metaverse, workers can solve problems in 3D, tackling business problems visually in a way not possible in the real world. UI/UX designers and architects can easily draw up mock-ups in a 3D model. The metaverse allows anyone to virtually create anything, allowing for faster and smarter problem-solving for various industries. 

‍

Conferences and Concerts 

You probably didn't know, but Travis Scott held a concert in the Fortnite Metaverse. At the time, many called it phenomenal. But it was just the starting point. 

The Metaverse will change the way we attend concerts and conferences. There will be no need to be in a crowd of sweaty, amped people to enjoy music. All you will need is to purchase a ticket and dance. 

Conferences will experience the exact change. Using tech like the Microsoft Mesh, users can look at who they are talking to, point to them, and make other gestures. Thought leaders will not need to fly miles to speak at a hall. 

‍

Medicine And Surgery 

In the metaverse, a heart expert in Tanzania will use precision robotics to conduct open-heart surgery on a patient in Vancouver. This will rely on stable 5G networks in both locations and a precision robot in the Seattle hospital, which the doctor in Tanzania will control via a virtual reality headset.

This new tech will also enhance the delivery of medical emergency supplies. For example, blood supply into remote areas and hospitals in need will become easier with remotely piloted drones. 

‍

New Kind Of Jobs 

Existing jobs will be drastically altered, and new ones will be created in the metaverse. Jobs that formerly required in-person connections will now have virtual alternatives, which means that freelance and remote work prospects will grow tremendously.

A virtual customer in a virtual shopping mall, for example, will receive advice in selecting a garment or a new laptop from a virtual customer care representative working from home.

‍

Fashion

Recently, digital fashion has been associated with the metaverse. For example, in Mark Zuckerberg's metaverse, we will all have miniaturized versions of ourselves roaming the digital environment. These virtual avatars will have to dress in virtual attire.

Other firms, such as Nike, Adidas, and Vans World, are wagering to see an opportunity for much more expansion.

Our avatars will shop for new clothes in metaverse stores. Clothing and shoe brands have started launching their apparel online, and people are buying. Currently, gamers are in a buying frenzy. But it's expected that as the metaverse expands, we will all have to buy some shirts and skirts for our digital personas. 

‍

DeFi And The New Iteration Of Money

The metaverse has been considered a part of the third iteration of the internet or Web3. In this iteration, content creators are supposed to be in control of their content and creative works. Not big tech like Facebook or Google. This means that cross-border financial transactions in the form of crypto will be used and that virtual marketplaces similar to those found in the real world will be developed.

To utilize the Metaverse currencies or cryptos, you must first purchase them. It is possible to do so by going via a series of fiat currencies and bank middlemen. But that defeats the purpose of a decentralized trading mechanism. Decentralized finance, or DeFi, enters the picture at this point. You may simply buy or sell Metaverse tokens or cryptos via smart contracts, P2P transactions, and other methods via DeFi platforms and protocols.

People are gradually becoming accustomed to working on their virtual identities as the Internet evolves into a more digital meta-world. Buying and selling, money transfer, lending, and other financial activities will be carried out using DeFi and cryptocurrencies. 

‍

Closing Thoughts

As more companies continue to jump on the bandwagon, the metaverse opens a space for big tech to own bits of it. Regardless of who owns what, it appears to have come to stay. 

But, for the metaverse to succeed, it must create a feeling so real that it's difficult to tell whether you're in reality or the metaverse. Like all new technologies, it will have inevitable negative consequences: general addiction, losing track of time, breach of privacy, need for new laws, etc.

The metaverse will replace the inefficient ways we move about with more efficient digital alternatives while also improving how we wish to move around in real life.