What is the Metaverse? Meta
The Ethereum platform can support autonomous systems in the {crypto quantum computer|Photon Project|https://thephotonprojectnft.com/}, such as virtual economies and governance mechanisms. Advances in virtual reality technology in the 2010s led by the likes of Palmer Luckey of Oculus VR — now part of Meta’s Reality Labs — and developers at Sony, Google, Unity, Epic Games and other independent studios popularized VR use. Spend enough time having discussions about the metaverse and someone will inevitably (and exhaustingly) reference fictional stories like Snow Crash—the 1992 novel that coined the term “metaverse”—or Ready Player One, which depicts a VR world where everyone works, plays, and shops. So, how do tech companies show off the idea of their technology without showing the reality of bulky headsets and dorky glasses? So far, their primary solution seems to be to simply fabricate technology from whole cloth. I hate to shatter the illusion, but it’s simply not possible with even very advanced versions of existing technology.
Industry watchers shy away from codifying the technologies that will power the metaverse. This is in part because the metaverse is evolving and partly because many of the tools driving the metaverse are themselves made up of multiple technologies. Organizations are also deploying VR for employee safety training, particularly in settings where employee mistakes can cause harm. Assembly line workers can train in a virtual environment before hitting the factory floor, or emergency responders can use VR disaster training to practice in a safe environment. Indeed, risk reduction is one of the key workplace benefits of such VR applications, according to Ria O’Donnell, author of Transformative Digital Technology for Effective Workplace Learning. « We will just think about one life. One reality, and it will be a combined world of the real and the virtual, » said Rosenberg, CEO and chief scientist at Unanimous AI.
Before the noticeable change in our increased daily usage of online activity in the pandemic, the last decade had already started to see several drastic changes in the way we interact, connect, work and socialise with others. A metaverse survey carried out by NordVPN showed that 50% of US respondents were worried about identity theft in the metaverse, while 45% expressed concerns about data protection. To achieve the kind of mass adoption that metaverse supporters foresee, these doubts will have to be put to rest. The metaverse offers many exciting benefits, but it’s important to balance these against some of the negative consequences of its adoption. Until these disparate islands of metaverse content are unified into one ecosystem, there will be no single metaverse.
Although none of these examples are “Metaverse” examples itself, this demonstrates that we have the talent to be a strong player in this space. Through the push of the entertainment industry into virtual worlds, a number of Metaverse thought leaders have emerged. Such thought leaders are Matthew Ball, a venture capitalist from San Francisco and initiator of the biggest Metaverse ETF, or Tim Sweeney, CEO of Epic Games – the company behind Fortnite and the Software Development Tool Unreal Engine. If we take a closer look at these pioneers’ definitions of what the Metaverse truly is and identify some commonalities, a clearer picture of what we are dealing with will emerge. The internet is a network of billions of computers, millions of servers and other electronic devices. Once online, internet users can communicate with each other, view and interact with websites, and buy and sell goods and services.
And stay tuned for our follow-up deep-dives into technologies such as NFTs, Web3, Virtual Reality, Augmented Reality or Blockchain. Well, this is similar to the question that people might have asked themselves back in 1992, when the internet was still emerging as information superhighway. Currently, Bloomberg states that The Metaverse market may reach 783.3bn$ in 2024, with a particularly large market share in the live entertainment, gaming software sector and services & ads.
This has spurred a great deal of speculation about what the maturing of XR and the metaverse will look like and what that means for society. We view the industrial metaverse as a significant opportunity for using metaverse technologies to achieve operational excellence in the industrial workplace; to improve the operational, manufacturing, and supply chain processes throughout a product’s lifecycle. This next generation of digital twins will be interconnected, immersive, collaborative, persistence and accessible from anywhere and on many devices. We intuitively expect the metaverse to be more complex, more layered – an evolving reality, and an experience that is synchronized with reality, with interactions on a deeper, collaborative level. This evolution makes it possible to scale up data exchanges and to interconnect with a vast range of information flows. The quest has proved hard, as Meta’s Reality Labs division chalked up nearly $30 billion in losses during 2022 and 2023 and its metaverse platforms — the multiplayer virtual game Horizon Worlds, and Horizon Workrooms, an immersive virtual office space — got mixed reviews.
It allows users to create a virtual world where robots — powered by AI brains that can learn from their real or digital environments — can train. Infrastructure engineering software company Bentley Systems is using Omniverse to create a suite of applications on the platform. Bentley’s iTwin platform creates a 4D infrastructure digital twin to simulate an infrastructure asset’s construction, then monitor and optimize its performance throughout its lifecycle. The evolution of tools like 5G will be significant in ensuring real-time interactions between in-person and online event-goers. Advancements in wireless telecommunications mean that devices like smartphones and glasses can stream real-time 3D (RT3D) data seamlessly without interrupting a user’s experience.
In this vision for the future of online connectivity, practically all services, platforms, websites, and applications would be accessible through a single VR interface (a headset, for example). Advocates for this concept imagine a world in which work, social life, entertainment experiences, and artistic pursuits could all be centralized within a single connected space, available to anyone with an internet connection and a VR system. In fall 2022, Microsoft announced a partnership with Meta that would bring Mesh, a platform for collaboration in mixed reality, and its set of Microsoft 365 applications to Meta’s Quest products. IT company Accenture purchased 60,000 Oculus headsets to train new workers in October 2021 and built its own metaverse, called Nth floor, which included digital twins of some of its offices, complete with cafés and legless avatars. Zuckerberg expects someday it will be the metaverse we’ll be referring to when we want to just meet a friend or get together with our family, not the “small glowing rectangles” we use to log in to social media.
In theory, 3D modeling could allow users to have a more physical experience in the virtual world. If you wanted to engage in an activity like fencing or dancing while spending time in digital spaces, your headset could incorporate elements of your physical environment, like walls or furniture, into the virtual space. Accelerating the convergence of the physical and digital worlds, the metaverse will offer a multitude of new ways for us all to experience things differently – whether at work, home, or play. The metaverse represents the next stage of the Internet, enabling billions of people to connect in virtual worlds, experiencing real-life feelings. The Metaverse is generally referred to as the next iteration of the Internet, that is persistent, shared and 3-dimensional. Just as mobile phones didn’t replace desktop computers, the Metaverse will increasingly come to dominate individual time and attention, however, it may not replace the personal computers and mobile devices entirely.
British computer scientist Tim Berners-Lee developed the first open source web server, browser and editor in the late 1980s and early 1990s, inventing the World Wide Web, a linked network of webpages, graphics and other media making information accessible and navigable. Coca-Cola launched a “flavor born in the metaverse” alongside a Fortnite tie-in mini-game. The Metaverse is tantalizingly close, possibly within the next few years — that is, if we don’t overcomplicate things and make it take longer.
In other words, the Metaverse is the idea that the aforementioned virtual and augmented reality experiences will eventually be connected, offering people a way to move from one environment to another within a much larger and interconnected virtual environment. This is analogous to the way people move from one building to another within the same city in the real world. By using VR, the metaverse hopes to change the way we consume content, going from 2D to a fully immersive 3D environment.
Such applications represent the first vestiges of what might become a healthcare metaverse, in which VR could operate alongside other technologies such as blockchain and digital twins. For example, Epic has acquired a number of companies that help create or distribute digital assets, in part to bolster its powerful Unreal Engine 5 platform. And while Unreal may be a video game platform, it’s also being used in the film industry and could make it easier for anyone to create virtual experiences. There are tangible and exciting developments in the realm of building digital worlds.
Still, like the internet in the 1990s, the metaverse represents an opportunity to « shrink the world, » said Andrew Hawken, co-founder of Mesmerise, a VR technology vendor. Done right, metaverse technologies in the workplace could increase teleworker camaraderie, improve collaboration, speed up training, reduce the need for office space and make work a happier place in general. However, the metaverse will also eliminate jobs, requiring companies to reskill workers, said Frank Diana, managing partner and principal futurist at Tata Consultancy Services. The degree of interoperability among virtual worlds, data portability, governance and user interfaces will depend on what the metaverse eventually becomes. In 2015, Russian-Canadian programmer Vitalik Buterin and Gavin Wood, a British computer scientist, launched Ethereum, a blockchain platform that introduced smart contracts. These contracts enabled the creation of decentralized applications and digital tokens, including non-fungible tokens.
Microsoft seems to think it could involve virtual meeting rooms to train new hires or chat with your remote coworkers. Imagine being able to step into a space that embodies your favorite brand, attending launch events from anywhere in the world, and buying both physical and digital products. Like the internet, the metaverse will help you connect with people when you aren’t physically in the same place and get us even closer to that feeling of being together in person. In this new iteration of the internet, websites will become interconnected 3D spaces akin to the world we live in and experience every day, he explained. In other words, the virtual and physical factories and their robots will operate in a loop. NVIDIA Omniverse provides a description for these shared worlds that people and robots can connect to — and collaborate in — to better work together.
Released as open-source software in 2016, USD provides a rich, common language for defining, packaging, assembling and editing 3D data for a growing array of industries and applications. “Just like in the infancy of the internet, no one can predict exactly how and how large the metaverse will grow — but today, we know we can lay the foundations,” he said. Moreover, firms such as VirtualSpeech are integrating Chat GPT to power immersive training platforms for enterprises. Once exclusive to technology pioneers and data scientists, the Metaverse is expanding to affect everyone. The impact of this environment is evident in everything from the recent success story like the NIKE/Roblox partnership, Meta Horizons, and Virbela.
Lebaredian and others say USD is to the emerging {thephotonprojectnft.com|Metaverse|Metaverse NFT} what hypertext markup language, or HTML, was to the web — a common language that can be used, and advanced, to support the metaverse. However, there are potential issues to address with the Metaverse, like the risk of crime in a decentralized world. It’s up to us as a species and global community to use the possibilities of the Metaverse for good. But some of the same things said about the Metaverse – about how the digital world would never be able to rival the real-world – were said about the Internet just a few decades ago. ABOUT PEW RESEARCH CENTER Pew Research Center is a nonpartisan, nonadvocacy fact tank that informs the public about the issues, attitudes and trends shaping the world.
Nvidia Omniverse, launched in 2022 and purpose-built for developing applications in the metaverse, has been heralded as shaping the future of 3D and the metaverse itself. By integrating 3D design, spatial computing and physics-based workflows, the real-time platform enables the creation of digital twins for factories, warehouses, products and other infrastructure. It also streamlines the creation of 3D-related media for entertainment and product demos and enterprise media content, which in turn can be rendered on computers, smartphones and extended reality devices.
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