🔘Why Metaverse

1. Metaverse is The Next Internet

Humanity is gradually moving to the digital era; humans have progressed to virtual space because of the pandemic. The Metaverse is the future that anyone shouldn’t ignore.

The idea of a Metaverse gained mainstream momentum recently, with big names like Facebook and Microsoft announcing their ventures into this new age of the internet. In April 2021, Epic Games announced a whopping $1 billion investment in the Metaverse. Niantic, developers of Pokemon Go, announced that they are investing $300 million to develop Metaverse-like experiences.

Thanks to the advancements in technologies like crypto, blockchain, and Virtual Reality, a decentralized Metaverse is finally possible. The world is very bullish on the Metaverse with many examples.

2. The Dawn of Web 3.0

Apart from Metaverse, another concept that is gaining traction is Web 3.0. The core of Web 3 is decentralization, and it enhances the Internet with a few added characteristics. The Web 3 applications run on the blockchain or decentralized networks with peer-to-peer nodes (servers).

Web 3 focuses on who controls the internet, but the Metaverse is about how users will experience the future internet. After starting as an alternative to social media, Metaverse will become the next worldwide web.

3. Collaborations Will Move into The Metaverse

Since 2020, VR applications for work and collaboration have become a thing. Facebook came out with its own VR offering called Oculus for Business, while Spatial provided a VR alternative for Zoom and saw a hike in its usage.

Virtual Reality enables employees to transition smoothly to a hybrid work environment and enjoy the same level of engagement. Metaverse will facilitate collaborations without compromising the experience of the participants.

4. It Will Bring Exciting Opportunities

Metaverse will become another monetization source, especially for content creators and game developers. Once the Metaverse becomes a reality, earning opportunities through digital art, GameFi, e-commerce, and digital music/esports events will be taken to the next paradigm.

5. It Will be Persistent

The virtual world will always be there for you! It will exist and allow you to enter it anytime, just like you can check your social media as per your need. You can make changes by purchasing assets in the form of NFTs, but all the changes will remain in place the next time you visit.

You will have a life in the virtual world and create content the same way you do for social media. In some versions of the Metaverse, the virtual assets in the virtual world will represent physical assets in the real world.

The Bottom Line

The Metaverse has become a big deal because it is knocking on the world’s doors. Contrary to the notion that the Metaverse is still decades away, it is far closer to the realm of possibility than most people believe it to be.

There’s still much speculation around the concept, and many companies are experimenting. But, there is no denying that with all the efforts being made in this arena, the Metaverse will be the next chapter in humanity’s history and will revolutionize our social and professional interactions.