What is metaverse technology?

metaverse is here, मेटावर्स
metaverse is here

Table of Contents

What Is the Metaverse?

The metaverse is a concept of a persistent, online, 3D universe that combines multiple virtual spaces. You can think of it as a future iteration of the internet. The metaverse will allow users to work, meet, game, and socialize in these 3D spaces.

The metaverse isn’t fully in existence, but some platforms contain metaverse-like elements. Video games currently provide the closest metaverse experience on offer. Developers have pushed the boundaries of what a game is through hosting in-game events and creating virtual economies.

Although not required, cryptocurrencies can be a great fit for a metaverse. They allow for creating a digital economy with different types of utility tokens and virtual collectibles (NFTs). The metaverse would also benefit from the use of crypto wallets, such as Trust Wallet and MetaMask. Also, blockchain technology can provide transparent and reliable governance systems.

Blockchain, metaverse-like applications already exist and provide people with liveable incomes. Axie Infinity is one play-to-earn game that many users play to support their income. SecondLive and Decentraland are other examples of successfully mixing the blockchain world and virtual reality apps.

When we look to the future, big tech giants are trying to lead the way. However, the decentralized aspects of the blockchain industry is letting smaller players participate in the metaverse’s development as well.

Introduction

The connections between the financial, virtual, and physical worlds have become increasingly linked. The devices we use to manage our lives give us access to almost anything we want at the touch of a button. The crypto ecosystem hasn’t escaped this either. NFTs, blockchain games, and crypto payments aren’t just limited to crypto geeks anymore. They’re now all easily available as part of a developing metaverse.

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What’s the definition of a metaverse?

The metaverse is a concept of an online, 3D, virtual space connecting users in all aspects of their lives. It would connect multiple platforms, similar to the internet containing different websites accessible through a single browser. 

The concept was developed in the science-fiction novel Snow Crash by Neal Stephenson. However, while the idea of a metaverse was once fiction, it now looks like it could be a reality in the future.

The metaverse will be driven by augmented reality, with each user controlling a character or avatar. For example, you might take a mixed reality meeting with an Oculus VR headset in your virtual office, finish work and relax in a blockchain-based game, and then manage your crypto portfolio and finances all inside the metaverse.

You can already see some aspects of the metaverse in existing virtual video game worlds. Games like Second Life and Fortnite or work socialization tools like Gather.town bring together multiple elements of our lives into online worlds. While these applications are not the metaverse, they are somewhat similar. The metaverse still doesn’t exist yet. 

Besides supporting gaming or social media, the metaverse will combine economies, digital identity, decentralized governance, and other applications. Even today, user creation and ownership of valuable items and currencies help develop a single, united metaverse. All these features provide blockchain the potential to power this future technology.

Why are video games linked to the metaverse?

Because of the emphasis on 3D virtual reality, video games offer the closest metaverse experience currently. This point isn’t just because they are 3D, though. Video games now offer services and features that cross over into other aspects of our lives. The video game Roblox even hosts virtual events like concerts and meetups. Players don’t just play the game anymore; they also use it for other activities and parts of their lives in “cyberspace”. For example, in the multiplayer game Fortnite, 12.3 million players took part in Travis Scott’s virtual in-game music tour.

How does crypto fit into the metaverse?

Gaming provides the 3D aspect of the metaverse but doesn’t cover everything needed in a virtual world that can cover all aspects of life. Crypto can offer the other key parts required, such as digital proof of ownership, transfer of value, governance, and accessibility. But what do these mean exactly?

If, in the future, we work, socialize, and even purchase virtual items in the metaverse, we need a secure way of showing ownership. We also need to feel safe transferring these items and money around the metaverse. Finally, we will also want to play a role in the decision-making taking place in the metaverse if it will be such a large part of our lives.

Some video games contain some basic solutions already, but many developers use crypto and blockchain instead as a better option. Blockchain provides a decentralized and transparent way of dealing with the topics, while video-game development is more centralized.

Blockchain developers also take influence from the video game world too. Gamification is common in Decentralized Finance (DeFi) and GameFi. It seems there will be enough similarities in the future that the two worlds may become even more integrated. The key aspects of blockchain suited to the metaverse are:

1. Digital proof of ownership: By owning a wallet with access to your private keys, you can instantly prove ownership of activity or an asset on the blockchain. For example, you could show an exact transcript of your transactions on the blockchain while at work to show accountability. A wallet is one of the most secure and robust methods for establishing a digital identity and proof of ownership.

2. Digital collectibility: Just as we can establish who owns something, we can also show that an item is original and unique. For a metaverse looking to incorporate more real-life activities, this is important. Through NFTs, we can create objects that are 100% unique and can never be copied exactly or forged. A blockchain can also represent ownership of physical items.

3. Transfer of value: A metaverse will need a way to transfer value securely that users trust. In-game currencies in multiplayer games are less secure than crypto on a blockchain. If users spend large amounts of time in the metaverse and even earn money there, they will need a reliable currency.

4. Governance: The ability to control the rules of your interaction with the metaverse should also be important for users. In real life, we can have voting rights in companies and elect leaders and governments. The metaverse will also need ways to implement fair governance, and blockchain is already a proven way of doing this.

5. Accessibility: Creating a wallet is open to anyone around the world on public blockchains. Unlike a bank account, you don’t need to pay any money or provide any details. This makes it one of the most accessible ways to manage finances and an online, digital identity.

6. Interoperability: Blockchain technology is continuously improving compatibility between different platforms. Projects like Polkadot (DOT) and Avalanche (AVAX) allow for creating custom blockchains that can interact with each other. A single metaverse will need to connect multiple projects, and blockchain technology already has solutions for this.

What is a metaverse job?

As we mentioned, the metaverse will combine all aspects of life in one place. While many people already work at home, in the metaverse, you will be able to enter a 3D office and interact with your colleagues’ avatars. Your job may also be metaverse related and provide you with income directly usable in the metaverse. In fact, these kinds of jobs already exist in a similar form.

GameFi and play-to-earn models now provide steady income streams for people worldwide. These online jobs are great candidates for metaverse implementation in the future, as they show that people are willing to spend their time living and earning in virtual worlds. Play-to-earn games like Axie Infinity and Gods Unchained don’t even have 3D worlds or avatars. However, it’s the principle that they could be part of the metaverse as a way to earn money entirely in the online world.

Metaverse examples

While we don’t yet have a single, linked metaverse, we have plenty of platforms and projects similar to the metaverse. Typically, these also incorporate NFTs and other blockchain elements. Let’s look at three examples:

SecondLive

‌SecondLive is a 3D virtual environment where users control avatars for socializing, learning, and business. The project also has an NFT marketplace for swapping collectibles. In September 2020, SecondLive hosted BNB Smart Chain’s Harvest Festival as part of its first anniversary. The virtual expo showcased different projects in the BSC ecosystem for users to explore and interact with.

Axie Infinity

Axie Infinity is a play-to-earn game that’s provided players in developing countries an opportunity to earn consistent income. By purchasing or being gifted three creatures known as Axies, a player can start farming the Smooth Love Potion (SLP) token. When sold on the open market, someone could make roughly $200 to $1000 (USD) depending on how much they play and the market price.

While Axie Infinity doesn’t provide a singular 3D character or avatar, it gives users the opportunity for a metaverse-like job. You might have already heard the famous story of Filipinos using it as an alternative to full-time employment or welfare.

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Decentraland

Decentraland is an online, digital world that combines social elements with cryptocurrencies, NFTs, and virtual real estate. On top of this, players also take an active role in the governance of the platform. Like other blockchain games, NFTs are used to represent cosmetic collectibles. They’re also used for LAND, 16×16 meter land parcels that users can purchase in the game with the cryptocurrency MANA. The combination of all of these creates a complex crypto-economy.

What’s the future of the metaverse?

Facebook is one of the loudest voices for the creation of a unified metaverse. This is particularly interesting for a crypto-powered metaverse due to Facebook’s Diem stablecoin project. Mark Zuckerberg has explicitly mentioned his plans to use a metaverse project to support remote work and improve financial opportunities for people in developing countries. Facebook’s ownership of social media, communication, and crypto platforms give it a good start combining all these worlds into one. Other large tech companies are also targeting the creation of a metaverse, including Microsoft, Apple, and Google.

When it comes to a crypto-powered metaverse, further integration between NFT marketplaces and 3D virtual universes seems like the next step. NFT holders can already sell their goods from multiple sources on marketplaces like OpenSea and BakerySwap, but there isn’t yet a popular 3D platform for this. At a bigger scale, blockchain developers might develop popular metaverse-like applications with more organic users than a large tech giant.

All-Inclusive Insights On The Metaverse Technology And Its Future Potential

All-Inclusive Insights On The Metaverse Technology And Its Future Potential

By Parija Rangnekar

Summary: The metaverse has become the buzzword of recent times and promises disruptive outcomes in the near future. It refers to a virtual, digital, 3D universe formed by merging diverse virtual spaces and physical worlds. Users can enter this digital universe in their digital avatars and move across and interact within the metaverse.

Metaverse Technology: Overview, Use Cases, And Future Potential

Virtual Reality (VR) has been one of the most fascinating contributions of the technological boom in the past decade. The metaverse, the most significant emerging tech trend of modern times, is set to elevate this experience to the next level. How about an immersive 3D digital experience that combines multiple virtual and physical worlds? Well, this is exactly what the metaverse promises. The concept is being considered the future iteration of the internet and will enable users to meet, socialize, play games, and work with other users within 3D spaces.

The term “metaverse” was conceptualized by Neal Stephenson in his science fiction novel Snow Crash, written in 1992. The novel envisaged that individuals could escape from the real world into a virtual world called “Metaverse” with the help of digital avatars and explore this virtual world to the fullest. Decades later, with the advent of innovative technologies like Augmented Reality (AR), VR, Artificial Intelligence (AI), machine learning, blockchain, etc. it has become possible to convert this fascinating concept into reality. Several brands like Facebook, Microsoft, Nvidia, and Decentraland have started to explore this area over the past couple of years.

The metaverse technology grabbed the spotlight and became a topic of keen interest recently, when Facebook changed its brand name to Meta in October 2021 and planned to focus on exploring the metaverse in full. This article speaks about the metaverse technology in detail and provides glimpses of its future prospects.

How Does A Metaverse Work?

A metaverse is a virtual, digital 3D universe formed by merging various kinds of virtual spaces. Users can enter this digital universe using their virtual identity as digital avatars and move across various metaverse spaces for shopping, hanging out, or meeting friends, just as they would in the real world. The only difference is that users can enjoy immersive experiences from their homes. Simply put, activities within isolated environments in the real world will now happen virtually within the metaverse.

Examples

For example, if a user taking a virtual tour within a metaverse spots a store and shops there via immersive commerce, the order that they place will be delivered to the address provided. Other metaverse experiences include participation in virtual social events, purchasing digital land and building virtual houses, joining fellow viewers of a virtual rock band concert, paying visits to virtual museums to view the latest works of art, and participating in immersive learning through virtual classrooms, etc. Businesses can leverage this technology by interacting with digital humans for business purposes, like employee onboarding, sales, customer services, and many others. Users can also utilize a metaverse for creating, sharing, and trading assets or experiences.

Unique Traits Of The Metaverse

The metaverse is unique in its own way. It is an interoperable network comprising 3D virtual worlds rendered in real time. An unlimited number of users can experience these virtual ecosystems persistently and synchronously. During this experience, a user’s individuality is maintained. Moreover, a metaverse is massively scaled and ensures the continuity of data, like objects, identities, entitlements, interactions, payments, history, etc.

Who Owns The Metaverse?

The virtual space offered by the metaverse is device-independent and collective, so no single vendor owns the space. The transactions within a metaverse are made using non-fungible tokens (NFTs) and digital currencies.

Technologies That Empower The Metaverse

The functioning of a metaverse requires a combination of several cutting-edge technologies like Virtual Reality, Augmented Reality, Artificial Intelligence, machine learning, blockchain, an AR cloud, Internet of Things (IoT), spatial technologies, head-mounted displays (HMDs), and 3D reconstruction. Apart from these avant-garde technologies, the metaverse will also need the support of software tools, apps, platforms, hardware, and content generated by users.

Blockchain will validate value transfer, credibility, and data storage within a metaverse; AR will enable 3D visualization of objects, interaction in real time, and the merging of the virtual and real worlds; while VR will provide users with a sensory experience like that of physical reality. However, while AR implementation needs only a camera-enabled device, VR requires more expensive equipment like multi-modal screens and HMDs. Metaverse technology is more likely to employ a combination of AR and VR, popularly called Extended Reality (XR). Integration of AI, machine learning, and IoT will facilitate crucial functions like limitless interactions and seamless integrations of data.

3D reconstruction helps create realistic and natural virtual spaces, leading to the formation of a digital ecosystem that is almost like the real world. With the help of unique 3D cameras, one can render accurate models of objects, buildings, and physical locations. These models are 3D photorealistic. Computers then process the 4K HD photos captured and the 3D spatial data for generating a virtual duplicate or digital twin of the real physical world that the users can experience.

The Current State Of Metaverse Implementation: Use Cases

Today, there exist several individual metaverses that have limited features. Presently, the gaming sector provides the experience closest to the metaverse experience compared to other industrial domains. Decentraland, a start-up, created a unique virtual world for its website users in 2017. This virtual world has its economy as well as currency. It integrates social elements with NFTs (representing cosmetic collectibles), cryptocurrencies, and virtual real estate. The players of this blockchain game participate in active governance on the platform.

Microsoft launched Mixed Reality smart glasses named HoloLens in 2016. The video game Roblox also provides nongaming services like virtual meetups and concerts. Facebook is in the process of creating a social platform powered by Virtual Reality. Furioos, created by Unity, streams entirely interactive 3D environments in real-time. Here, the environments are rendered by Unity’s GPU server infrastructure which automatically scales itself. SecondLife offers a virtual 3D ecosystem that is being utilized for learning, socializing, and business. This metaverse also provides an NFT marketplace where collectibles can be swapped.

What Does The Future Of The Metaverse Look Like?

In the near future, the metaverse is expected to consolidate all isolated immersive virtual ecosystems and merge them into a unified whole. The outcome will be a single huge-sized all-inclusive metaverse that can be accessed using a single browser (just like the internet offering various websites). For instance, a user working in a virtual office can conduct a Mixed Reality meeting using an Oculus VR headset and can indulge in a blockchain-powered game after finishing work. The user can then manage their finances and portfolio inside the same metaverse.

The metaverse will transcend social media platforms and virtual gaming. The metaverses are expected to become more multidimensional in the near future owing to the usage of VR glasses and headsets. Using these VR gadgets, users can stroll around physical spaces in reality for exploring 3D spaces. Metaverses have the potential to facilitate decentralized governance, establishing the digital identity of an individual, remote employee workstations, etc.

Challenges Likely To Arise While Implementing A Metaverse

Tech experts have predicted certain challenges that are likely to be encountered by a metaverse. The major challenges include controlling the privacy of users and businesses and authenticating the identity of individuals who are moving around the virtual world disguised as digital avatars. As a result, unscrupulous persons or even bots can explore the metaverse under the disguise of an individual, and scam other users or damage the reputation of business brands. Also, the usage of AR and VR with the camera on can lead to data breaches of personal information.

Concluding Thoughts

The metaverse is a collective, virtual, open space developed by integrating virtually enhanced digital and physical reality, known for offering immersive experiences to users. Although this concept is in its infancy and has a long way to go before reaching stability, it possesses an immense potential to disrupt the AR/VR experience altogether. Several big players including Facebook are investing heavily and working relentlessly to make this concept a success in the coming years. The metaverse is expected to offer decentralized, persistent, interoperable, and collaborative business opportunities and models that will help companies to elevate digital business to unprecedented heights.

Will The Metaverse Benefit The eLearning Industry?

Will The Metaverse Benefit The eLearning Industry?

By Radhika Yadav

Summary: The metaverse is the new catchphrase in the tech world. It will empower the eLearning sector. With the incorporation of VR and AR technologies into eLearning apps, we can move one step closer to the design of the metaverse.

How Will The Metaverse Reshape The eLearning Industry?

Physical learning has always monopolized the learning environment for students and teachers worldwide. After the pandemic, digital learning sparked and reached the majority of institutions, transforming the traditional learning model to a more technology-driven learning format.

With Artificial Intelligence, Augmented Reality (AR) and Virtual Reality (VR) technologies have established their strong base and are ready to transform the physical world into virtual space. When we talk about AR and VR technologies and apps, the update of Facebook to Meta is making a stir in the technology industry. A fundamental question occurs: what is the metaverse?

What Is The Metaverse?

Mark Zuckerberg’s recent announcement of the metaverse to the world created a desire for every tech person to understand more about the term. The metaverse is a virtual social sphere where users can create their own avatars, personalize them, and perform activities that they do in real life.

Facebook is transforming itself into Meta because they are ready to create a virtual social sphere focusing entirely on digital interactions. Not only Facebook, but also companies like Microsoft, Nvidia, and Epic Games are preparing technologies and apps to promote Virtual Reality. Since the metaverse is not a two-year project, the companies are still to develop stable and mature technologies that apps can use. However, we already have a few technologies assisting the ideas behind the metaverse.

Technologies Empowering The Metaverse

Meta has invested ten billion dollars in wearable VR and AR technologies, revealing their importance to the metaverse.

  • Virtual Reality
    Virtual Reality is a computer-generated environment where users feel that they are in the real world even though they are interacting in the virtual world. The video gaming industry has one of the more remarkable examples of VR, where players wear VR headsets and glasses to let themselves enter the virtual gaming world. Gamers can hit, run, and feel all the activities depicted in the storyline.
  • Augmented Reality
    Augmented Reality creates images and objects in a natural environment, where the objects interact with the world. Pokémon GO is an excellent example of an Augmented Reality game where pokémons interact with the real world, and so do the players playing the game. 3D holographic technology is also an example of AR, where a 3D layer is created with the process of image recognition and detection. As a result, it can provide a better video experience, live streaming, and assist eLearning platforms with 3D visualization.

Along with the VR and AR technologies and apps, the metaverse combines certain benefits opening new opportunities for the public.

Benefits Of The Metaverse

The metaverse has several benefits for the public because it focuses on bringing Virtual Reality close to actual experience.

1. A World Without Limitations

For people, the digital sphere of the meta world is similar to the world they encounter on a daily basis. In video games, players experience building, driving, shooting, enacting stories, and living game actors’ lives. Games like GTA 5 provide a real-time simulation for the players, but players cannot feel or touch the environment in the game. With the metaverse, players will feel the 3D virtual world, where they can wander and perform several activities.

2. Solving Remote Work Challenges

In the pandemic, the majority of the people working in the IT sector worked from home, but this lacked real-life interactions for employers and employees. With the metaverse apps, managers can interact with their employees like in the real world, while staying in a virtual world. Similarly, doctors can interact with their patients virtually.

3. New Opportunities For Businesses And Marketers

Meta is developing a better version of social media platforms, which will also open up opportunities for businesses and marketers. Businesses can provide real-time interaction for customers to try different clothes and accessories on their avatars, bringing Virtual Reality closer to real life.

How The Metaverse Can Benefit eLearning

We have seen how the metaverse can benefit businesses and marketers. It is no doubt true that the metaverse will also benefit the eLearning industry.

1. Better eLearning And Play World

A student enjoys learning more with his smartphone than a book in modern times. Metaverse apps can create a virtual space for students where they can walk, write notes, and communicate with other students, transforming the eLearning industry. They can also play games in a virtual world that closely resembles reality. In addition, with the proposed apps, students can also change clothes, hairstyles, and expressions, among the various options available.

2. Better Illustrations By Teachers For Students

Instructors widely use video-calling apps, but they cannot offer a proper illustration of real-life objects through them. With technologies like AR, instructors can show such illustrations effectively to their students. For example, if a teacher wants to demonstrate the parts of a car, they can use holographic apps to reflect a 3D image. Students will have a better understanding of scientific and mathematical experiments.

3. Better Parent And Teacher Interactions

The metaverse can assist parents with their child’s performance in institutions like schools. Parents can attend the students’ classes and be assured of the quality of education offered in the institution. With Virtual Reality apps, parents can also interact with teachers from remote places and review the quality of the games their children play. Similarly, parents can also arrange regular meetings with teachers and plan better eLearning for their children.

4. Better Learning Resources With 3D Visualizations

Using the metaverse, the resources providing understanding will be better, with 3D visualizations. Books can be VR-supported, and students can dive deep into the books, hear the text, and visualize diagrams in a 3D format. For historical subjects, the VR can show animated videos to the students for better learning. Examinations can be more interactive if combined with the metaverse applications. For example, examination questions can be interactive, and students can be provided with certain case studies which are virtual but will feel close to reality. In this manner, the metaverse can shape learning resources, bringing them close to reality, and making a better eLearning industry.

Conclusion

eLearning apps are taking the mode of learning from offline to online models. With the incorporation of VR and AR technologies into these apps, we can move one step closer to the design of the metaverse. It will take nearly a decade to transform the eLearning industry into a metaverse.

Build A Resilient Future Using The Metaverse In Corporate Training

Build A Resilient Future Using The Metaverse In Corporate Training

By Suresh Kumar DN

Summary: The metaverse will redefine how we work and communicate, and most importantly, the way education evolves in the future. In this article, we will see how metaverse will add a different dimension to the corporate eLearning industry and associated strategies.

Using The Metaverse In Corporate Training

Let’s begin by understanding what the metaverse is. The metaverse is regarded as an integrated network of 3D virtual worlds. It provides immersive realism. One can use a Virtual Reality headset to navigate the metaverse by gazing around and using other commands. It’s always a first-person experience in the metaverse, becoming one’s reality. The metaverse is nothing but a digital universe.

Neal Stephenson’s science fiction novel Snow Crash coined and invented the metaverse in 1992. Zooming out and closer to the present, Facebook has been rebranded to Meta, in line with Zuckerberg’s strategic plan to create a metaverse platform where people can socialize and collaborate.

But is the very concept of the metaverse unfamiliar? Not really. We have moved around, had thoughts, and acted in the worlds created in our dreams. The drama of the Athenian lovers takes place in a forest in Midsummer Night’s Dream.

Yes, in the metaverse, just as in dreams, the first-person experience, as told earlier, becomes a reality. The metaverse draws upon modern technology. Let’s take a look.

Metaverse Technology

Though Virtual Reality (VR) and the metaverse are sometimes used interchangeably, the metaverse is different from VR. Virtual Reality is a technology that creates 3D environments, while the metaverse is a shared, open, and persistent virtual world that involves more technologies. These technologies include Artificial Reality (AR), blockchain, connecting technologies, Virtual Reality, digital twins, non-fungible tokens (NFTs), digital currencies, VR headsets, and sensors. One can feel the content in the metaverse rather than just knowing it.

Imagine teleporting from one learning experience to another. Let’s say, for instance, knowing what a frontline in a retail or manufacturing industry does and, right the next moment, moving into a customer’s world to experience how that frontline’s service has been. It’s learning through knowing, doing, and being.

Metaverse Use Cases

The scope of the metaverse is amazing.

  • Virtual tourism characterized by an immersive digital environment, 360-degree video content, and a scope for live streaming.
  • New marketing opportunities in the different virtual worlds of the metaverse.
  • Metaverse blockchain being beneficial in play-to-win games.
  • Virtual space availability for work.
  • Interactions with the patients in real-time environments such as virtual 3D clinics.
  • A new economy where the trade of assets between users across different spaces is facilitated through NFTs.
  • Metaverse fashion involving virtual collections of famous fashion houses and fashion designers.
  • Shopping at virtual showrooms and virtual retail stores.
  • Real estate virtual tours.
  • Social networking’s experience expansion.
  • Creation of wellness spaces with natural settings like aquariums, mountains, meditation channels, etc.
  • Metaverse for global conferences and community events.

We now have the key to unlock the eLearning metaverse experience.

With AI-powered digital colleagues, collaboration, live status tracking, corporate eLearning, etc., the metaverse is all set to embrace the future of work. Metaverse wallets, metaverse marketplace, API-enabled translations across different metaverse spaces, and more will add more depth to the metaverse experience.

Let’s see how metaverse capabilities and corporate training correlate with one another through various points of synergies.

Effective Onboarding

The first impression is always the lasting one. A robust onboarding process positively impacts the retention rate, satisfaction, and productivity of every new hire. A metaverse experience adds an additional spark to the recruit, reduces training time, and enhances engagement.

Safety Training Imparted Safely

Imagine that a leak is identified in one of the pipes in a factory. People are working at both ends of the network of these pipes, and blocking the wrong pipe can prove fatal. The metaverse provides learners with a real-time environment for training them to make the right decision under pressure. The virtual world lets a learner make mistakes without endangering the safety of people or the person responsible for the action.

Technical Skills

Whether it is tools or software, assembly line or warehouse, installation or repair, the metaverse creates a virtual twin of the real environment to help the learner gain operational efficiencies in the real world.

Customer Service And Sales

Storytelling, role-playing, and branching scenarios are at the heart of customer support and sales training and will soon become a craze. The metaverse makes them more real. Simulations can be built to handle any client relationship situations and scenarios.

Metaverse immersive training allows employees to perform repetitions in a safer environment—whether hard or soft skills. The learner could be at the store, assembly line, warehouse, office, or other spaces (all virtual) for as long as they like, till they have perfected the skills associated with the learning objective and required outcome. And when the learners step into the real world, they are close to being professionals because they have already done this in the metaverse.

Benefits In A Nutshell

Let’s now look at a few of the benefits that metaverse technology can bring to workplace training.

  • “Digital twins” is one of the technologies that the metaverse can draw upon. They allow the Subject Matter Experts to be available virtually.
  • Sensors and digital twins can recreate a real operational site, existence, and experience. This allows learners to study the impact of changes on the real asset that has been created virtually.
  • NFTs can be used as rewards in a highly empowering metaverse gaming environment.
  • Virtual translation across metaverse worlds supports diversity and helps scale corporate training to employees beyond geographical boundaries and demographic uniqueness.

The metaverse eLearning experience enhances scalability, engagement, knowledge retention, satisfaction, and Return On Investment. It reduces training time and cognitive load. Metaverse in the corporate training world induces positive behavioral change, gives a pathway for an outlier to come up the learning curve, and keeps the company one step ahead of the competition.

The Future Of Metaverse And eLearning

1. A New Era For The Special Needs Groups

Accessibility becomes a reality for people with special needs and the ability to tackle daily issues like social interaction issues, interpersonal operability, job skills, and more in a safe environment without feeling left out.

2. Virtual And Hybrid Environment-Based Learning Journeys

Work on real-world skilling opportunities using real-world scenarios and high-pressure situations. Mistakes can and will be made, but the consequences may not be detrimental. The metaverse with data science and spatial design come together to improve learner engagement and on-the-job application. Terms like “experiential learning” and “deliberate practice” will start gaining prominence.

3. Immersive Virtual Learning Communities, Groups, Teams

The metaverse can be that key first step to democratizing education by getting people together from geographically dispersed locations and differing backgrounds to learn in a cost-effective, flexible, and faster manner.

4. Surge In Visualization And Storytelling

Zoom, MS Teams, Google Meet, etc., will soon be under threat because of the visualization and storytelling that the metaverse thrives upon. A strategy or plan can be visualized well before execution. Define challenges that can span globally critical topics like climate change, education, gender, health, etc.

5. Be Human Build Interpersonal Capabilities

A coach, facilitator, and mentor all start looking like roles with more accountability across avenues like training on skills like communication, leadership, listening, etc. It’s not like we know the perfect score to be told someone is good here, as they are tough to measure. Immerse learners in real-world conflicts and allow them to practice their day-to-day job responsibilities. Create a safe zone to make them go through the rigor.

6. Drive Powerful Data Analytics

This may be the time when data unthought of will now have a possibility of being extracted to showcase what drives learner progress, identify gaps, and continuously improve the learning experience. Scenarios participation, attention to detail, engagement statistics, behavioral analysis, possible prediction models, and much more could possibly drive new learning frameworks.

Conclusion

As per the Verified Market Research, the metaverse market size was $27.21 billion in 2020. It is expected to grow at a CAGR of 39.1% from 2022 to 2030. Companies aspiring to be “future-resilient” will use the metaverse’s power to fuel their corporate training journey.

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Learning In The Metaverse: New Tech For Business Impact

Learning In The Metaverse: New Tech For Business Impact

By Ajay Pangarkar, CTDP, FCPA, FCMA

Summary: Workplace learning and education must figure out how to apply the metaverse for their benefit. And well they should. Resistors to it will become relics of the past. Consider that if the metaverse eventually lives up to its promise, then the learning opportunities are limitless.

The Metaverse Is Here And It Is Now

Guess what’s just over the horizon? Yup, another technology to get learning practitioners falling over themselves trying to figure out how to use it for their purposes. What is this technology? Well, you’ve probably heard of Facebook recently changing its name to Meta. It’s more than a name change; it’s the future direction of technology, specifically Virtual Reality and Augmented Reality technology, called the metaverse.

Why does this matter? It matters tremendously if you’re interested in how everyone will live and use technology within the next few years or decades. If you’re not interested, it really doesn’t matter because it’s happening. But what is “the metaverse”? The term doesn’t really refer to one specific type of technology, but rather to a broad perspective in how we interact with current and future technology.

If you had to explain it to your mom, which is something I have to do, the metaverse is about fully integrating Virtual Reality and Augmented Reality within our daily tech applications. OK, so now your mom has a blank stare on her face. Explain it this way: the “virtual” part is about immersing yourself in virtual worlds that continue to function even when you’re not there, into which the metaverse also incorporates digital elements from within your actual physical reality, the real world, using Augmented Reality technology. If that explanation didn’t work on your mom, tell her to watch The Matrix: that’s a futuristic, possible, reality of the metaverse.

That last movie reference makes the metaverse sound dystopic. Here’s how Mitch Joel, author of Six Pixels of Separation and CTRL ALT Delete, sees the eventuality of the metaverse: “We are quickly moving away from a two-dimensional screen world into a three-dimensional one.”

Think this is too futuristic and can only happen in the movies? Wrong! Have kids? Ask them about their interactions with video games. Do you use Zoom or MS Teams? While not fully immersed, your virtual meetings are in the infancy of the metaverse. Remember those Google glasses several years ago? Well, they will be making a comeback soon, but in a different context. Even non-tech companies, like IKEA, are working toward developing metaverse environments to sell their products and services. And I haven’t even touched the tip of the proverbial metaverse iceberg. Trust me, there is so much to come that these companies, along with many others, are developing iterations, products, and services where you will be fully immersed for your meetings, shopping, or a variety of physical human interactions we currently do without thought.

The Learning Opportunity

This time around, learning practitioners must pay attention to the metaverse and how they can leverage it for the benefit of their stakeholders and organizations. As Mitch Joel states, The ability for people to not just get together in a virtual environment, but learn and share and actually see one another is a huge leap forward from what we’re seeing currently on Zoom calls or email exchanges or Slack groups or any other interactive technology.”

Progressiveness from those in workplace learning and even academia is admirable. It expresses how they seek innovative methods to bring about applicable and practical learning interactions. If their intent is sincere then they’re on the right track, or as Joel states, “When you look at things like work and learning, the metaverse feels very much closer to the near future, and what Wired founder and futurist Kevin Kelly calls the ‘inevitable’.”

Rest assured, those in workplace learning and education will try to figure out how to apply the metaverse for their benefit. And well they should. Those who don’t will be relics. Consider that if the metaverse eventually lives up to its promise then learning opportunities are limitless. Consider something like assessing student aptitude in relation to educational elements, leading to career aspirations. Or possibly developing adaptable and safe work and situational environments for people to apply and practice newly acquired knowledge. The metaverse will afford you to skill up employees in the same way that we train airline pilots.

Concerns Moving Forward

Is the metaverse a sure thing? One can’t be sure but ask the global tech giants and the answer is a resounding yes! However, we’ve all seen promising technology get tossed aside. As Mitch Joel states, “The problem with making a business call on all of this, is timing. How soon? When will people adopt it? When will the technology be very pervasive and accessible to everyone? These are the same questions that Meta is asking as they (and others) build this future.”

Another relevant concern points specifically to why and how learning practitioners and academics will embrace it. Both may have issues with the metaverse but for different reasons. For academia, it’s more about adopting innovative concepts. It’s no secret that academia is often a few steps behind in technology adoption. Even during the pandemic, many educational institutions considered a Zoom meeting with students or teaching PowerPoint via a Zoom or Teams recording as eLearning.

As for workplace learning practitioners, adoption isn’t the issue, but rather the issue is proper implementation and application. No one can accuse practitioners of not wanting to use more technology. But if the historical context is any indication, they’ll pitch a “learning metaverse” to decision-makers as a “cure-all” to learning issues. Regretfully, as with past technology use, it’ll either be misapplied or not leveraged to its full potential. And when this happens, practitioners tend to lose interest and look to the next “cure-all.” No one knows whether the metaverse will catch on with the public; the market will dictate this. For those involved with learning, the lack of acceptance will possibly result in a lack of rapid adoption and/or misapplication.

What’s Next?

The metaverse will most probably come about and become a part of our lives, as did something called the internet. Whether it will be sooner rather than later is something we’ll discover in time. Even though there’s a possibility the metaverse may not succeed, it’s safe to say that another technology will soon follow holding a different promise. Learning implies change and progress. Disparaging new tech or even trying to avoid it is futile. If this is you then it’s time to rethink your position.

Thanks to Mitch Joel for providing his insight and expertise. Mitch is one resource you want to have available. Please visit his site Six Pixels of Separation and read his latest books Six Pixels of Separation and CTRL ALT Delete. Please share your thoughts and feedback with us. We would enjoy hearing about your efforts. And who knows, it may be the topic of our next eLearning Industry article. Also, please check out our LinkedIn Learning courses to learn more about developing your business credibility for your learning efforts. Please share your thoughts and remember to #alwaysbelearning!

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How Will The Metaverse Drastically Transform The Healthcare Industry?

How Will The Metaverse Drastically Transform The Healthcare Industry?

By Omaid Khan

Summary: The fast-paced technological advancements of the twenty-first century are rapidly transforming multiple industries. This article studies one such technology that has proved to be groundbreaking in its healthcare applications.

Gamification In The Healthcare Industry

The recent announcement of Facebook’s rebranding to Meta took the internet by storm, making everyone curious about the Virtual Reality-based metaverse and its impact on our lives. However, it’s important to know that Facebook is just one amongst hundreds of key players who have contributed to making the metaverse a reality. Today, many people are unaware of how the metaverse can revolutionize multiple industries, including the healthcare sector. The foundational technology of the metaverse, Virtual Reality (VR), has shown promising results in its healthcare application.

Metaverse And Medical Education

Traditional medical training provides limited resources for the practice of surgeries, partly because procedures on cadavers are costly for hospitals, which also reflects on a student’s tuition fees. However, with the use of Virtual Reality in medical training, students can train in a simulated environment for the purpose of immersive surgical training at a significantly lower cost.

Moreover, the dissection of a virtual subject in place of a real cadaver is cost-effective and enables students to work individually for training purposes. The Virtual Reality-based cadaver training sessions can have a performance-enhancing effect on surgical trainees’ technical capabilities, such as precision and decision-making skills.

In the metaverse, the technology will also be utilized in complex surgical procedures, as surgeons always look for better methods to get the job done with a higher success rate. The data set accumulated through a patient’s digital twin also allows doctors to predict a patient’s recovery time, any possible complications, and the required treatments for these complications as a precautionary measure.

Moreover, while robot-assisted operations are commonplace now for undertaking complex procedures with accuracy and flexibility, Virtual Reality is relatively new as a training and practice tool for surgical procedures. During the pandemic, the need for such a teaching model became crucial as medical colleges and nursing schools had to terminate offline classes, causing immense distress to all students. Indeed, the metaverse can resolve many of these woes faced by the healthcare industry’s education sector.

Meta-Hospitals: A Convergence Of Metaverse And Healthcare

Since the pandemic, online medical consultation has seen an unprecedented surge because remote consultation is far more convenient for diseases and illnesses requiring only visual examination. And as it’s incredibly challenging for some elderly patients to visit doctors, the online consultation trend will likely continue even after the pandemic. This need for remote consultation and the ongoing endeavors to use Virtual Reality in the medical industry make it highly plausible for these remote consultations to shift from video calling apps to the more immersive and advanced world of the metaverse. Instead of relying on local online consultation services, a worldwide network of doctors in the metaverse can bridge the gap between patients and medical carers by providing quality medical services that may not be accessible locally.

It may sound odd for adults to opt for a platform with cartooned avatars in a make-belief world comprising all things virtual. But the implications of the metaverse are such that it promises to revolutionize medical processes. For instance, it can share a patient’s entire medical history with their doctor, all of it compiled and categorized for reference in a way that would save both the doctor’s and the patient’s time. Meanwhile, the VR experience of the metaverse can also allow doctors to have a more detailed look at a patient’s radiology reports through high-resolution 3D modeling. On top of that, the advancing technology and portable healthcare gadgets such as an oximeter, heart rate monitor, and blood pressure monitor that can sync with the internet allow for data collection right from your home. As the future of healthcare is data-driven, a patient’s data can massively improve the diagnosis and treatment of their health issues.

If we talk about how the metaverse can change the way operation theaters operate, its implications are far-reaching. For instance, surgeons can conduct live surgical procedures for training purposes or contact specialists for assistance in case of an emergency, with fully integrated monitoring of vital signs and invasive procedures. Moreover, it’s common to see young children disgruntled with boredom or fear of clinics and hospitals. In that case, the metaverse can provide a more playful experience while visiting a doctor, which could help remove their worries. At the same time, it could also make it easier to educate children on the importance of hygiene and healthy eating in a fun and interactive way.

Use Of Virtual Reality For Patient Therapy

The metaverse has immense potential to equip doctors with new therapeutic treatments. Today, doctors can treat people with acrophobia or glossophobia by gradually and repeatedly placing them in challenging yet safe situations that help them to train their minds against these phobias. The use of Virtual Reality for the treatment of mental disorders such as OCD and social anxiety has also become a widely known phenomenon.

The metaverse will also provide a safe space for people who need guidance through virtual support groups. Sadly, the dilemma with the current support groups is a lack of communication between members. Facebook communities and support groups frequently see people coming to ask a question and then remain inactive. But in the metaverse, these platforms can be more interactive and engaging with voice support, community games, etc.

Also, the ability to utilize haptic sensors makes it possible to create rehabilitation programs that can help patients such as those who have Parkinson’s disease to overcome the severity of their illness. Companies such as XRHealth have been working on utilizing VR technology for physical and occupational therapy purposes. As reported by The Denver Post, a patient named Michael Heinrich who opted for VR therapy felt that the enjoyable experience of “being an eagle trying to go through rings” allowed him to push through the boundaries of what he believed was possible as a partially paralyzed patient. The unconventional method treats the patients not only physiologically but also psychologically, speeding up their healing process.

These psychological factors have proven influential in pain management, as doctors have noticed that VR technology substitutes opioid use during wound redressing of burn victims. Similarly, children who underwent a blood test immersed in a VR enhanced intervention felt significantly less pain compared to children who were distracted by traditional methods. While the practice of color and sound therapy dates back thousands of years, applying that to the VR experience for soothing a patient’s mind is a very recent practice that has borne fruitful results. Thus, the healthcare industry is likely to engage patients in the metaverse for more effective pain management.

To Sum It Up

Despite the privacy and security concerns revolving around the idea of the metaverse, doctors are all set to leverage technological advancements for improved patient care. That’s because Web 3.0, which is the foundation for the metaverse, is based on blockchain technology and will comprise decentralized applications that support a decentralized crypto economy. Moreover, the VR healthcare industry was worth $1206.6 million in 2021 and is estimated to reach $11,657.8 million by 2028, making it evident that a VR-based metaverse will play a pivotal role in revolutionizing the healthcare industry with further technological advancements. Given that the Internet of Things is gaining momentum, it would be interesting to witness more discoveries in healthcare.

The Metaverse In eLearning

The Metaverse In eLearning

By Ajay Kumar

Summary: Evolving technology and the pandemic have changed the way we work. Technology has become the backbone of remote work, training, and onboarding. Metaverse training has the potential to drive a transformation to remote training, engage the workforce, and improve employee experiences.

Metaverse Training

When Mark Zuckerberg announced Facebook’s rebranding to Meta, the term metaverse became a buzzword overnight. In addition to generating excitement, this concept has garnered interest in its potential to impact the future of digital interaction. In his sci-fi novel Snow Crash, Neal Stephenson coined the term “metaverse” in which he imagined lifelike avatars interacting with each other in realistic 3D buildings and other Virtual Reality (VR) environments. In January 2022, Google and Microsoft followed suit and announced investments in the metaverse. According to Statista, the metaverse market size is expected to reach $47.48 billion, before rising to $678.8 billion by 2030.

The metaverse refers to an online environment where Augmented Reality (AR) and Virtual Reality can coexist. It provides a fresh digital world to collaborate, solve problems, and practice in, with an interactive engagement method. The metaverse allows people to learn faster, retain information better, and manage their own learning experience. This environment simulates the physical world while incorporating digital tools and allowing learners to interact as avatars. Metaverse activities can replace real-world experiences, and with the development of the metaverse learners may have increasingly authentic experiences of being present in other realms.

Technologies That Play A Major Role In The Metaverse

1. Virtual Reality

Virtual Reality refers to a 3D and computer-generated virtual environment that either replicates or creates the illusion of a real world and has the potential to deliver a truly immersive and engaging learning experience. Using VR as part of the training experience will allow learners to learn and develop in ways that go beyond a classroom setting. VR allows learners to experience true-to-life situations without risking their safety in the real world. One of the most notable usages of VR is seen in the video game industry.

2. Augmented Reality

In Augmented Reality, objects are created and enhanced with text, graphics, audio, and virtual information in real time. It enhances the digital experience by combining the natural environment and the virtual space where the objects interact with the world. AR is most suited for specific technical training where learners may require quick reference to technical information to make a repair or use machinery. By lowering the distractions and capturing the learners’ attention, it enhances physical engagement with digital content.

Impact Of The Metaverse On The Learning Domain

Industries dealing with high-risk environments such as manufacturing, energy, and construction are already leveraging the benefits of metaverse learning. Now other industries are showing interest and exploring the space to enhance their training programs. The metaverse offers an infinitely expansive learning environment that provides a learner-centered experience because of the emotional and cognitive effect that can be achieved by creating true immersions. With the increasing number of organizations moving to remote or hybrid workplaces, executives not only appreciate the need but are embracing new approaches to train and develop their teams in order to stay agile and competitive. Metaverse collaboration techniques allow learners to engage in any environment or situation. Using the metaverse in conjunction with Learning and Development (L&D), learners will be able to put their physical limitations aside and experience new ways to learn.

The metaverse will revolutionize training and skills development, drastically reducing the time needed to develop and acquire new skills. Experiential learning is the most effective way to learn, according to a recent study, which has shown that learning through experience increases learning quality and retains information better by up to 75%. As a result of metaverse learning, simulations will become avatar-based, geared toward collaborative learning as well as interactive working. Research firm Gartner predicted that 25% of people will spend at least an hour a day in the metaverse by 2026. A few use cases for the metaverse that are emerging across every industry are:

1. Onboarding Training

Employee onboarding, and training employees on various services/products and company policies can be daunting and time-consuming. The metaverse is an intuitive solution where the new hires join in the virtual space and are familiarized to the organization’s culture and ethics. Besides benefiting the new hires, the metaverse also helps the organization by reducing training time and creating lasting impressions.

2. Safety Training

Organizations apply this technology for crucial training to engage learners, providing practice and instant feedback. The metaverse provides learners with an immersive safety training experience in which learners can become familiar with the threats and risks at the workplace while remaining entirely safe.

3. Sales Training

Gone are the days of classroom-based training. The metaverse is leveraged to provide enhanced training to employees. Trainers and sales personnel along with their managers can meet in the metaverse for sales training. Using storytelling and branching scenarios helps employees to be prepared for various situations and also guides their learning experiences.

4. Skills Training

One of the direct costs associated with in-person training is materials. The metaverse allows learners to make mistakes without exhausting physical materials. This facilitates learning without hesitation and saves resources. Metaverse training is not only used for technical training but for soft skills training as well. Metaverse avatars help in nurturing important skills, such as communication, teamwork, customer service, and people-facing skills. The metaverse platform enables learners to gain hands-on experience that expedites their learning process and increases efficiency.

Moreover, the metaverse can be used to virtualize different kinds of training. It can be used to develop a complete training setup—classroom, stage, podium and seating desks for an experience like in real life. In training sessions, trainees can appear as avatars, as real as possible, or as fictional as desired.

How The Metaverse Adds Value To Training

In the age of eLearning, employers seek to create more interactive and engaging learning experiences for their employees. Learning through the metaverse allows learners to gain experience and exposure. It allows L&D teams to link immersive content and embed storytelling methodologies to express learning in new and exciting ways. With their 3D technology, and interactive design and modules, VR and AR provide a powerful vehicle for more meaningful learning. The metaverse can benefit eLearning in several ways:

1. Learner-Centered Solution

Learners today want contextual learning that they can relate to and stick with. Metaverse environments are engaging, exciting and interactive places to learn and practice, without limitation of time or usage of materials. It boosts employee engagement by creating a captivating learning environment that allows learners to learn and interact with colleagues, managers, and trainers in real time. The more actively learners are involved in learning, the more effective the outcomes are. This type of learning is an advanced form of active learning that creates a fully simulated environment for learning, using extensive role-play or situations where learners interact with the experience. These features have made metaverse technology a popular tool for creating immersive learning environments. Moreover, learning that is enjoyable will be more effective.

2. Better Decision-Making

With the help of the metaverse, organizations can provide more opportunities for learners to learn and access knowledge. The metaverse aids in decision-making as everything can be measured. Understanding learner behavior in the metaverse and how they engage and acquire information today will help identify opportunities where their experience can be improved. Learning analytics provide an in-depth understanding of how learners are progressing and achieving their goals. Measuring the effectiveness of training programs help organizations to find out what a learner needs when, and decide whether training courses are working for a particular set of employees or not. The virtual world will constantly grow and evolve based on decisions and actions made to increase employee engagement and efficiency.

3. Addressing The Hybrid Workplace

Organizations have changed the way they hire, work, and collaborate with their employees as a result of the pandemic. Since almost every organization has moved to a work-from-home or hybrid workplace model, connecting and collaborating with employees has become increasingly challenging. The metaverse has the potential to address all the existing challenges to remote work. It provides organizations the means to use it for department-centric training, large-scale events and everything in between. It provides managers with a virtual environment where they can meet employees (their avatars), communicate with them, and retain in-person interaction. The virtual space can be dedicated to different teams for collaboration to help solve critical business problems. Utilizing avatars, the metaverse enables the organization’s communication and collaboration to become much more interactive. It helps employees and employers grow together.

7 of the World’s Top Metaverse Companies [2022 List]

metaverse companies

As we step into a new era of borderless digital connectivity, the Metaverse offers users a chance to step into a ‘virtual world’ without any constraints. Currently, over 160+ Metaverse companies are working to harness the full potential of the Metaverse. 

Since the Metaverse is an emerging technology, there are numerous opportunities available for companies to contribute to enhancing the virtual world. The Metaverse market size is expected to grow to up to $5 Trillion by the year 2030.

With large companies such as Meta and Microsoft committing themselves to create technologies that can help transform the virtual world, the future of the Metaverse seems very exciting.

Table of Contents

What Is The Metaverse?

The Metaverse has been referred to as “the future of social media” by Mark Zuckerberg. It aims to provide users an opportunity to socialize, work, interact with engaging environments, shop, and explore virtual worlds. Virtual Reality (VR) and Augmented Reality (AR) play a major role in making the entire Metaverse experience immersive and interactive, which is why there are many companies such as Meta working on creating the best VR hardware for users.

There are several different metaverses currently being built by different companies, such as DecentralandSandbox, and the Pavia. Each metaverse provides its benefits such as 3D Creators, in-built marketplaces, the ability to host events, and much more! 

What Is a Metaverse Company?

A metaverse company is a business that focuses on creating and managing virtual worlds, usually for the purpose of entertainment or education. These companies often develop the necessary software and hardware to make their virtual world accessible to users. In many cases, they also create and maintain the content within these digital environments.

For example, companies working on Metaverse can focus on developing VR hardware, creating new platforms, creating virtual marketplaces, establishing data security, creating 3D modeling tools, and much more!

The Metaverse is much more than just a space to interact with other users; Metaverse companies are endeavoring to establish a full-fledged virtual economy. Users can utilize ‘avatars’ to move around the Metaverse and explore different ‘virtual worlds.’ 

List of The 7 Best Metaverse Companies

Several companies are working within the Metaverse space to facilitate providing solutions for users. Here are some of the top ones:

1. Meta (Facebook Metaverse Company)

Formerly known as Facebook, Meta’s CEO Mark Zuckerberg announced their commitment toward “the future of social media” in October 2021. This metaverse company rebranded itself to ‘Meta’ to signify its strategic plan to create their own Metaverse to change the way users interact, work, play, and shop online. 

The announcement generated massive awareness for 3D virtual worlds and many individuals and businesses began exploring the vast potential that this digital realm provides. Facebook has been planning this for quite a while, as demonstrated by their purchase of Oculus back in 2014.

The Meta company has now braced for some difficult years ahead as they focus on developing affordable headsets and an immersive virtual world. Amidst large losses, Mark Zuckerberg has stated that Meta will lose a lot more money before they’re able to complete everything they’ve aimed to do for the Metaverse. 

Meta is definitely not the only Metaverse company working in this space, as they have plenty of competitors who have already made significant headway into the Metaverse space. For example, Sandbox company has already generated massive interest from users and celebrities alike. 

There is also plenty of research being done within the hardware space, where Meta is working on robotic ‘skin’ that utilizes sensors to provide feedback to users when they interact within the Metaverse. This is a strong indicator of the incredible potential that this Metaverse company has to offer!

2. Microsoft

Microsoft is another tech giant that has set its eyes on leading the next digital revolution. With their focus on “mixed reality,” Microsoft aims to utilize its HoloLens to combine AR with real-life applications.

This has now been applied to several industrial use cases as well; for example, Kawasaki has now partnered with Microsoft to utilize their industrial Metaverse to allow factory workers to utilize HoloLens to help build robots and manage supply chains.

Microsoft launched its HoloLens back in 2016, which helps users experience AR in real-world settings. The concept of industrial metaverses is relatively new. It is still evolving, but with the HoloLens, factory workers can interact through visual cues to perform tasks such as repairs and more.

Microsoft also recently acquired Activision Blizzard for around $70 billion, with Microsoft CEO Satya Nadella stating that Activision Blizzard will help Microsoft build their Metaverse. Activision Blizzard has released some iconic games over the years, such as Call of Duty, Diablo, Candy Crush, Warcraft, and many more. 

3. Decentraland (Metaverse Platform)

Decentraland is a Metaverse platform that provides users with access to tools to shape their virtual experiences. The platform is decentralized, which means that no user data is held by third parties. Users create their own customized avatars, which allow them to explore the different landscapes that this platform has to offer.

Decentraland has also gained recent popularity due to celebrities such as Paris Hilton performing in festivals within the virtual space. The community-led platform allows users to purchase virtual ‘land’ to shape their own experiences. 

Users can host parties, rent out spaces, build skyscrapers, and more! Decentraland utilizes ‘MANA’ as its in-game currency, which can be traded out for other forms of virtual currency on crypto exchanges.

Decentraland also offers an in-built marketplace where users can list their creations and sell them to earn money. It is also widely known for its valuable virtual real estate. Real estate in the Metaverse is gaining a lot of popularity amongst investors, with land in Decentraland being sold for as high as $3.5 million.

4. NVIDIA

NVIDIA is a very prominent company within the gaming industry, widely known for its graphical processing units. However, the company has also been making big waves in the Metaverse market by gearing up to make a tool to facilitate 3D creations.

NVIDIA’s ‘Omniverse’ offers developers a chance to collaborate on 3D models by enhancing communication and productivity. This tool helps foster innovative creations by providing a framework to create Metaverse-related materials. 

Many Metaverses companies are utilizing NVIDIA’s Omniverse to create digital assets, avatars, virtual environments, buildings, and much more. These companies include Kroger, PepsiCo, Amazon, and many more. Omniverse enables these metaverse companies to develop immersive experiences for their target audiences.

NVIDIA also launched NVIDIA OVX, which allows companies to run intricate simulations within the Omniverse. This enables developers, engineers, and strategists to create 3D simulations of real environments. 

5. Unity

Unity is a very prominent name in the gaming industry, where it has helped bridge technology gaps across various games for developers alike. With thousands of developers preferring the Unity engine over other competitors, Unity has now enabled developers to create immersive, interactive experiences to connect with users in the Metaverse for any industry.

This Metaverse Company offers a wide variety of tools for developers to utilize to create software solutions to monetize 3D and 2D content for the Metaverse. It is also preferred by developers due to its native C# programming, which is widely known by most developers. Its ease of use is what makes it a preferred option over competitors such as Unreal Engine.

Examples of Metaverse-based Unity games include Fantasy World and Bomb Crypto, which allow users to explore different metaverses according to the game’s storyline. For example, Bomb crypto enables users to control superhero avatars to complete campaigns and earn prizes. A major incentive of this game is that it rewards users with NFTs to simply play the games.

With the ability to create VR/AR games using Unity, this Metaverse Company is going to play a pivotal role in shaping the future of the metaverse.

6. Sandbox

The Sandbox Metaverse has gained a lot of popularity in recent years, with celebrities such as Snoop Dogg creating their own metaverses within the game to connect with their audience. ‘Snoopverse’ was also recently featured in Snoop Dogg’s recent music video ‘House I Built’, with the rapper showing off his virtual mansion within the Sandbox Metaverse.

This Metaverse platform allows users to create their own 3D virtual assets using an in-game 3D editor called VoxEdit. After creating unique assets, users can list them on the in-game marketplace, thus facilitating creator monetization. 

Similar to Decentraland, the virtual real estate market within the Sandbox Metaverse has also gained a lot of traction. For example, an investor purchased the ‘LAND’ plot next to Snoop Dogg for $450,000. The game utilizes ‘SAND’ as its Metaverse currency, which can be swapped out for other forms of currency on online crypto exchanges.

7. Roblox

Another very popular metaverse gaming platform, Roblox, aims to facilitate the creation of a creator economy by allowing users to create their own virtual spaces. The platform has gained a lot of popularity in the past few years, where players are allowed to utilize avatars to explore different spaces and enjoy various games. 

There have also been several festivals organized within Roblox, such as the Electric Daisy Carnival (EDC) in 2021. Users have been able to fully immerse themselves into the game, and with a wide variety of games catering to almost every demographic, the platform has gained over 37 million daily active users.

Big name brands such as Nike have also decided to build their own metaverses within the platform. ‘Nikeland’ offers users the chance to take part in sports-related games, explore the latest Nike collections, and purchase items for both the virtual and real-world spaces. 

What Do The Best Metaverse Companies Work On?

The primary objective of the best Metaverse Companies is to contribute towards enhancing the user experience for the digital world. There are various fields that Metaverse-related companies are currently working in. These include:

Building Immersive Metaverse Hardware Solutions

While Meta currently dominates the VR headset market with their MetaQuest2, several other companies involved Metaverse are working on creating hardware for the Metaverse, such as SamsungHTCSony, and more! 

The current primary goal of these companies is to create lighter VR sets at affordable prices to enhance customer experiences online. The AR space is dominated by Microsoft’s HoloLensAppleGoogle, etc.

The role of hardware is not limited to just VR/AR headsets; these Metaverse Companies are also working on incorporating haptic feedback through sensors for when users interact with objects in the Metaverse. Incorporating sensory feedback enables users to have a completely immersive experience. 

For example. Meta is currently working on robotic skin that works with sensors and AI to provide feedback whenever a user touches anything in the virtual world. These devices help blur the lines between the virtual world and the digital world, which is what makes the Metaverse so attractive.

Metaverse hardware can be split into 2 further subcategories. These include:

  • Visual and Audio Hardware: VR/AR headsets are being worked on by various companies such as the ones mentioned above. Metaverse Companies are working on improving user experiences by creating high-quality optic displays and working on creating lighter headset designs.
  • Wearable Sensors: Sensors are going to play a huge role in enabling users to interact fully with their virtual surroundings. These sensors would need to be worn by users, and while this technology is currently still in development, users can still currently experience haptic feedback through controllers.
  • Creating Interactive Virtual Worlds: Metaverse Companies are continuously working on creating and improving virtual spaces for users. There are several companies such as SandboxDecentraland, and more that are already very well known. Metaverse Companies working on these platforms aim to create an interactive virtual world that allows users to interact, create 3D NFTs, sell digital assets on inbuilt marketplaces, and much more.

These virtual worlds offer users a chance to fully immerse themselves and attend virtual events such as concerts, fashion shows, and more. By incorporating an in-game economy, these Metaverse Companies have created several opportunities for users to earn and be involved in building the Metaverse to its full potential. 

Creating 3D Metaverse Software

The Metaverse is meant to be an immersive 3D space, similar to our real-life world. Metaverse companies are working on creating robust software to allow for seamless 3D object creation. These 3D objects could be virtual landscapes, skyscrapers, or simple 3D avatars.

Companies working on Metaverse development such as NVIDIA and Unity are already working on creating solutions for developers to build real lifelike worlds. This software would enable Metaverse developers to easily create realistic landscapes and environments for end users.

Providing Data Storage for the Metaverse

Metaverses are vast, rich virtual worlds with a lot of 3D-designed objects that would require a large amount of data storage options. Undoubtedly cloud storage is the best option for Metaverses, which creates an opportunity for Metaverse companies to create customized storage solutions that would be able to fulfill the storage requirements needed for a large virtual space. 

There would also be additional storage required by NFTs and other user-created objects such as Avatars. These could be stored on decentralized systems that are Blockchain-based. That way, these user digital assets could be stored securely, as no 3rd party would control the data. 

Additional storage would be required for data generated by Metaverse users while interacting with businesses online. Storing this data is extremely important as it can facilitate future marketing strategies for businesses. For example, tracking eye movements while inside virtual stores could help businesses understand which product is generating more interest.

Providing Metaverse Connectivity

Exploring the Metaverse would require users to have access to a high-speed internet provider. This is due to the fact that the vast landscapes and environments would require a large amount of data to render. 

Users will be looking for the best connectivity providers, and Metaverse companies such as Starlink are an excellent choice for fast-speed internet. This also creates an opportunity for other internet providers to step up and provide lightning-fast connectivity to be a part of this digital revolution.

Why Are Companies Getting Involved in Metaverse? 

With the Metaverse set to change the way users interact online, more and more companies are looking for ways to get involved with the Metaverse. By incorporating virtual reality and augmented reality, the Metaverse has created many opportunities for businesses and individuals to earn online. Tech giants such as Meta, NVIDIA, and Microsoft have the talent and resources to revolutionize the “future of social media,” and several businesses are contributing toward making the concept a success.

What Are the Best Metaverse Stocks To Buy?

With many metaverse stocks becoming a focus in the financial world these days, it can become overwhelming to track all of them. Here are seven metaverse stocks you could profit from in 2022:

  1. Sony Group (SONY)
  2. Match Group (MTCH)
  3. Take-Two Interactive Software (TTWO)
  4. Nvidia (NVDA)
  5. Unity Software (U)
  6. Autodesk (ADSK)
  7. Microsoft (MSFT)

Building Wealth

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1. Sony Group (SONY)

In a June interview, CEO Kenichiro Yoshida revealed the metaverse as a growth area for Sony, with building a metaverse around entertainment as its first priority. It’s a natural progression for a company that’s already firmly established as a market leader in cutting-edge entertainment technology and content.

DATAPERFORMANCE
52-Week Range$61.72 – $133.75
P/E Ratio15.26

2. Match Group (MTCH)

This dating industry giant is mostly known as the parent company of Tinder and Match.com. It has little competition in the world of dating apps, plenty of untapped market potential — and plans to launch a virtual environment for singles. Despite a high price-earnings ratio, which suggests the stock could be priced high, this one could be a good choice for investors comfortable with a riskier stock.

DATAPERFORMANCE
52-Week Range$40.23 – $164.56
P/E Ratio119.06

3. Take-Two Interactive Software (TTWO)

This video game publisher is responsible for industry hits like Grand Theft Auto, NBA 2K and Red Dead Redemption. The company’s virtual multiplayer platform, GTA Online, brings in well over half a billion dollars per year in in-app transactions.

DATAPERFORMANCE
52-Week Range$101.85 – $195.83
P/E Ratio75.27

4. Nvidia (NVDA)

This company produces graphics and video processing chips for artificial intelligence and high-end computing. It’s an investor favorite, and now it’s playing a massive role in powering the metaverse.

Building Wealth

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DATAPERFORMANCE
52-Week Range$108.13 – $346.47
P/E Ratio37.74

5. Unity Software (U)

Unity owns one of the most popular 3D video game engines, and its technology is used in some of the most popular video games on the market. In consequence, U stock could become the holy grail for those placing their long-term bets on the gamification of the metaverse.

DATAPERFORMANCE
52-Week Range$25.91 – $210.00
P/E RatioN/A

6. Autodesk (ADSK)

In addition to publishing ubiquitous industrial and architectural 3D design software like AutoCAD, Autodesk has visual effects, virtual reality and generative design software that developers and creatives can use to create virtual worlds and assets, including non-fungible tokens.

DATAPERFORMANCE
52-Week Range$163.20 – $335.48
P/E Ratio74.60

7. Microsoft (MSFT)

Earlier this year, Microsoft announced it would acquire gaming company Activision Blizzard in a $70 billion deal that will give it access to Activision’s gaming titles, including bestsellers like Call of Duty, as well as its 390 million monthly users, according to Cointelegraph. The acquisition is Microsoft’s latest metaverse play, following its Mesh for Teams mixed-reality space and Hololens, its augmented reality headset and platform.

DATAPERFORMANCE
52-Week Range$213.43 – $349.67
P/E Ratio23.40

7 top technologies for metaverse development

Several advanced technologies in various stages of maturity have been powering everyday business processes. How will they one day transform the 3D virtual world into reality?

By

The metaverse is a nascent, evolving space whose definition can vary widely depending on whom you ask. At this point in time, the challenge is to compile a comprehensive and dependable list of technologies that will help the metaverse flourish over the next decade. We managed to do just that.

“We look at metaverses as not a specific group of technologies per se, because they are made up of multiple technologies,” observed Marty Resnick, vice president analyst at Gartner. Instead, “we see them as tech themes.” Spatial computing, digital humans, virtual spaces, shared experiences, gaming and tokenized assets are among these themes, Resnick said, and they encompass a range of technologies that will help empower the metaverse’s development.

Similarly, Forrester Research characterizes these types of technologies as “enablers of 3D development environments” that can do sophisticated modeling, according to J. P. Gownder, vice president and principal analyst. As a result, he explained, organizations will require professionals skilled in 3D modeling and familiar with Unity and Unreal game engines. Other required skills will depend on what’s being programmed — for example, IoT skill sets for digital twins. “Most companies won’t have these skills right now,” Gownder noted, “and will need to work with outside parties or recruit talent.”

Metaverse-enabling technologies can range from gaming engines to digital twins to extended reality that are converging to address real-world problems in new ways, added Jason Warnke, senior managing director and global digital experience lead at IT consultancy Accenture. “A burgeoning company may completely build out its own metaverse before ever making an actual move in the real world,” Warnke conjectured. “It might construct a digital twin that lays out exactly how a factory would look before ever laying a brick. Before taking a single dollar or swiping a credit card, they may have outlined its own NFT system.”

“The Corporate Hitchhiker’s Guide to the Metaverse,” by Boston Consulting Group (BCG), designates the following three categories of technologies that define the metaverse:

  • metaverse worlds (M-worlds);
  • augmented reality (AR), virtual reality (VR) and mixed reality (MR); and
  • Web3 and virtual assets.

M-worlds are immersive applications that offer companies new ways to reach audiences, notably Gen Z users. M-worlds can run on mobile devices as well as PCs and AR/VR headsets. Web3 is in its early stages but, according to the BCG guide’s authors, “is already powering a vibrant virtual asset economy that includes cryptocurrencies, NFTs [non-fungible tokens] and smart contracts.” The consulting firm expects Web3 and traditional financial transactions to coexist in the foreseeable future. In fact, the authors see “much of the value of the metaverse may ultimately lie not in consumer but in business applications.” Those applications may include virtual meetings, training sessions, new-product designs and providing virtual tours of homes to prospective customers.

graphic of metaverse development technologies
Each of these technologies will help bring 3D virtual worlds to life and revolutionize business applications and processes.

Based on expert opinions and extensive research, we’ve narrowed our list to seven of the most frequently mentioned technologies that will help power the metaverse and its development.

1. Artificial intelligence

AI plays a core role in developing bots and chatbots and brings intelligence to computer vision in the real world. But, according to BCG, only 10% of companies report significant AI benefits from their deployments. AI’s processing capabilities could create metaverse avatars, enhance the characteristics of digital humans to make them more life-like, and be applied to non-player characters that converse with players in gaming environments.

2. Internet of things

The Blockchain Council refers to IoT as “an important pillar of the metaverse infrastructure.” The metaverse and IoT integrated together can, for example, “unlock new opportunities for industrial domain, individual needs and social requirements,” the council reported. IoT would allow virtual spaces to seamlessly access and interact with the real world while the metaverse would provide the 3D user interface for the IoT device cluster, resulting in what the council calls “a user-centered IoT and metaverse experience.” In a factory where the digital twin of every machine has sensors, for instance, sensor data can be used to explore environments and provide feedback, Gownder said.

3. Extended reality

AR, VR and MR technologies will transform the way businesses visualize and use data by shifting from 2D to 3D for more realistic experiences and digital displays that better synchronize with head movements, according to BCG. When AR glasses become more mainstream, computer vision will help people understand the environment and locate the right information. For example, extended reality (XR) is already being used in Microsoft’s HoloLens, allowing users to experience 3D holographic images as though they’re part of their environment.

chart showing categories of business applications in the metaverse
Business modeling, product development and design, and infrastructure engineering are among the top real-world capabilities the metaverse must deliver, according to a McKinsey survey.

4. Brain-computer interfaces

Although the World Economic Forum (WEF) includes brain-computer interfaces on its list of technologies that will shape the metaverse, Gownder believes BCIs are “science fiction for now … Find me someone using BCI for business.” WEF acknowledges that BCI is “perhaps the most far-reaching vision for the metaverse” as the technology aims to replace traditional control screens and physical hardware. Still, the forum noted that BCI and XR combined “position themselves as the next computing platforms in their own right.”

5. 3D modeling and reconstruction

3D reconstruction captures the shape and appearance of real objects and will make the metaverse a reality. The technology includes tools like 3D modeling to provide a three-dimensional framework and prototype of a specific process or product. For perspective, the global 3D reconstruction technology market is expected to double over the next several years to roughly $2 billion in 2028, according to a SkyQuest Technology Consulting report.

6. Spatial and edge computing

Spatial computing combines AR, VR and MR to interact with the real world and edge computing can provide the quick response time to user actions that mimic reality and keep users immersed in the metaverse. Any kind of spatial technology, including computer vision, is very relevant to metaverses, Gownder said, adding “being able to place an avatar, collaboration, it’s all about the spatial dimension.” 

7. Blockchain

Blockchain isn’t “super relative to employees or enterprise metaverses today,” Gownder surmised. Yet, discussions center on how the technology can be used to secure digital content and data in the metaverse. Blockchain could a play role in decentralizing the metaverse to avoid delays or single points of failure.

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What’s on the horizon

Deloitte defines digital humans as avatars — AI-powered human-like virtual beings — that can engage in human conversation by interpreting a customer’s language and return not only the facts the customer needs, but also the appropriate non-verbal response.

Gartner’s Resnick pointed to a use case in which a company builds a virtual customer experience center for networking, socializing or transacting. “If you think of the scale of the metaverse,” he conjectured, “I can’t staff [it] 24 hours a day and I can’t deal with a large number of folks who may come into that room. So, I can use digital humans to be that conversational AI or … non-player characters that can act as a representative of my organization.” Companies can provide a presence, converse with customers and build trust. “I want to see a face of the organization as opposed to billboards,” Resnick added. “It’s one of the many use cases we see.”

Gartner is also predicting that enterprises will likely focus on virtual spaces and shared experiences first. Probably the biggest area of investment in the next few years will be in what Gartner calls intraverse technologies. “An intraverse,” Resnick explained, “is essentially how we look at building internal virtual environments for the use of employee communication, collaboration, onboarding and training. It’s another way of saying we’re creating our own virtual office.” By 2027, Gartner predicted, fully virtual workspaces will reimagine the office experience and account for 30% of the investment growth by enterprises in metaverse technologies.

10 Best Metaverse Platforms That You Can Try In 2022

Metaverse is the latest example of the wonders of technological innovation. People have been looking for the best metaverse platforms for trying out their hand at the new technology. The metaverse is a virtual world, encompassing everything digital in one shared universe. You must have discovered hints and traces of the metaverse in multiple science fiction novels and films. 

For example, Ready Player One and Tron showed us glimpses of virtual universes, where people from the real world can participate in different virtual experiences. Although you would find a lot of emphasis on gaming use cases in a metaverse platforms list now, the metaverse would expand in the future. 

On the other hand, existing metaverse platforms can show how metaverse can revolutionize the future of digital services and solutions. The following discussion helps you uncover the details about some of the most popular metaverse platforms everyone should try in 2022.

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Definition of Metaverse Platforms

The definitions of the metaverse have been articulated from different perspectives. The most common explanation for the metaverse is that it is an open and shared universe that allows people to participate as digital avatars. However, you need to look for answers to another important question before looking for metaverse platforms. 

What are the metaverse platforms? The metaverse platforms are basically virtual platforms that help developers in creating new virtual experiences by leveraging augmented reality, virtual reality, and many other technologies. You can think of metaverse platforms as the bridges between the physical and virtual worlds. 

Most Popular Metaverse Platforms 

The search for metaverse platforms in 2022 has been driven by the growing attention on the potential of metaverse. Big tech companies such as Facebook, Microsoft, and NVidia are working on their own metaverse solutions. Where will the metaverse take us? You can find the answer in the following list of the most popular metaverse platforms.

1. Decentraland

Decentraland

One of the pioneers of metaverse technologyDecentraland, deserves attention among top metaverse platforms with exceptional potential. It is a popular platform for creating, trading, monetizing, and exploring a virtual world. The platform lets you explore your creative intuition in developing artworks, challenges, scenes, and many other virtual experiences. 

Interestingly, users can exercise complete ownership over the experiences they have created on the platform. The simple builder tool on Decentraland serves as a flexible instrument for familiarizing with the concept of the metaverse. The Decentraland website features various functionalities for different types of creators. You can use the sophisticated and popular tools for enhancing the virtual experiences on the metaverse with multimedia applications and social games. 

Decentraland also offers the opportunity to explore the metaverse experiences on virtual parcels of land of other users. As one of the largest metaverse platforms, Decentraland offers unique chances for learning as well as enjoying virtual experiences. Users can purchase and sell virtual pieces of land alongside assets such as names and avatars with the Decentraland Marketplace. On top of it, Decentraland also hosts global events to deliver the value advantages of the metaverse to every individual. Some of the top events by Decentraland include the Buffalo Metaverse Tour, Australian Open Metaverse, Drop, and many others. 

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2. Illuvium

Illuvium

The next addition in the list of metaverse platforms you should watch out for would refer to Illuvium. It is basically a complete decentralized RPG adventure game with the facility for collectibles. Developed on the Ethereum blockchain alongside the Immutable X L2 Network, Illuvium has become one of the popular metaverse platforms. 

The game requires players to explore massive and diverse landscapes for hunting and collecting magical creatures, known as Illuvial. Another interesting feature of the metaverse platform is the facility of a metaverse timeline. Players could enjoy the storytelling experience alongside the sophisticated design of the game. 

Most important of all, Illuvium has successfully tapped into the interests of players with the immersive gameplay experience. As a result, it is one of the best metaverse platforms to have attracted corporate players apart from gamers. Some of the notable companies which have shown interest in Illuvium include Immutable X, Influx, Bitcoin.com, Blockchain Game Alliance, and Lotus Capital, among others. The most striking highlight of Illuvium refers to the opportunity to avoid GAS fees for every transaction. Illuvium also leverages the features of Immutable X for maintaining secure custody of assets. 

3. Sandbox

Sandbox

The Sandbox is undoubtedly one of the mandatory additions among top 10 metaverse platforms on the grounds of popularity. It is a decentralized NFT gaming metaverse based on the Ethereum blockchain. Players can use Sandbox for creating, selling, purchasing, and monetizing virtual reality NFTs. 

As a community-driven platform, it allows players and creators to monetize their digital assets and other gaming experiences on the blockchain network. Sandbox is a popular metaverse platform offering complete freedom for showcasing your knack for innovation. The metaverse platform offers the features for hosting parties and exhibitions or creating and customizing virtual parcels of land. 

Many people with concerns regarding “What are the metaverse platforms?” can find their answers in the whitepaper of Sandbox. The whitepaper is a comprehensive guide on all capabilities of the Sandbox and other crucial details. Sandbox users can control the governance of the platform through a decentralized autonomous organization

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4. Axie Infinity

Axie Infinity

Another popular entry among top metaverse platforms in the market right now would refer to Axie Infinity. As a matter of fact, Axie Infinity shows a better glimpse of what you can expect from the future of the metaverse. The gaming metaverse platform features flying robots, magical creatures, mutants, and flying beasts. 

The Axie Infinity metaverse includes many exciting creatures, referred to as the Axies. Players can pet the creatures and use them for different tasks in the game. For example, players could build, expand or defend their universe by using the creatures, also known as Axies. Players can also use the Axies in battles and wars with other universes in the game. 

Axie Infinity looks more like any other online multiplayer game with quests, which players have to complete to move to advanced levels. It is one of the best metaverse platforms with gaming applications as players have to use new tactics and strategies in conflicts against each other. The game leverages blockchain technology to help players in creating a unique and complex economy within the game’s universe. 

5. Cryptovoxels

Cryptovoxels

The name of Cryptovoxels in the metaverse platforms list is an indication of how the metaverse is evolving. It is a popular metaverse platform based on the Ethereum blockchain, offering a virtual gaming world that supports VR experiences as well as usability on PCs. 

Cryptovoxels has also developed a unique reputation for organizing events for users on a regular basis. Users can leverage the platform for creating metaverse real estate and put their virtual properties on sale. Users can create empty land parcels for sale or prefabricated buildings such as art galleries and collaboration spaces, as well as streets and harbors. 

Apart from virtual land, Cryptovoxels also offers a massive marketplace for purchasing and selling digital collectibles such as NFTs. It is one of the top 10 metaverse platforms with seamless support for various types of NFTs, including wearables, gaming props, apparel, or artwork. 

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6. Bloktopia

Bloktopia

The name of Bloktopia reflects a lot on the platform’s association with the metaverse. It is a metaverse platform featuring virtual real estate blocks, which are accessible for block-token holders. Bloktopia is one of the interactive entries in the list of metaverse platforms you should try out in 2022. The game features a virtual skyscraper with 21 different levels.

The levels serve as access points to a central information hub with different types of experiences in crypto-based assets. You must note that the basic principles of Bloktopia reflect on learning, earning, playing, and creation. As a result, it offers a wide range of opportunities for revenue generation with new virtual experiences. 

The Bloktopia metaverse offers the facility for accessing multiple income streams alongside many opportunities for learning. Bloktopia has garnered some exclusive partners and investors for driving its future growth. 

7. Metahero 

Metahero

Metahero is a unique entry among the largest metaverse platforms with a different set of functionalities and value benefits. Developed by Wolf Digital World, Metahero serves as a gateway into the world of the metaverse. The metaverse platform features 3D scanning and modeling technology for facilitating an immersive world with gadgets and avatars. The technological advantages of Metahero can help in creating realistic 3D avatars alongside virtual items. 

Users can leverage the virtual items of the Metahero metaverse in different games, social media, online fashion, and VR experiences. Furthermore, the technology behind the Metahero can help in converting real collectibles and artwork into NFTs. Metahero can be one of the popular metaverse platforms in 2022 for the different partnerships. Most important of all, it has collaborated with Tencent as its marketing partner. 

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8. Star Atlas 

Star Atlas

The popularity of Star Atlas as one of the best metaverse platforms has gained traction in recent times. It is a blockchain game featuring a space-themed design. Designed as a multiplayer metaverse, it can open up the future of technology to everyone. The platform helps in buying, selling, and creating NFTs

Most important of all, the metaverse platform introduces the benefit of Solana blockchain for better transaction speed. In addition, you can also enjoy the benefit of limited transaction speed along with a native governance token. POLIS token holders can use their tokens to exercise their claim over decision-making. 

9. Roblox

Roblox

The list of metaverse platforms you should try now is incomplete without Roblox. It is an online gaming platform that allows players to create games of their own. Now, it is a metaverse platform with diverse virtual experiences for all users, especially VR experiences. 

Recently, Roblox entered into a collaboration with the NFL to launch a metaverse game before the Super Bowl in 2022. With millions of users all over the world, Roblox has better chances of driving towards the future of metaverse. The vision of bringing all the experiences under a single roof is the most distinctive highlight of Roblox, apart from different VR experiences. 

10. Somnium Space

Somnium Space

The final addition among the top metaverse platforms you must try in 2022 is Somnium Space. It works on multiple devices, and users can access the Somnium Space metaverse through PC, web, VR as well as mobile interfaces. The primary foundation of Somnium Space includes Ethereum and Solana blockchain protocols, as well as its dedicated asset marketplace. 

However, users would have to install a MetaMask wallet or a decentralized application extension for using Somnium Space. On the other hand, the metaverse platforms are comparatively easier to use than others without the need for VR gadgets to enjoy all experiences of the metaverse. It features unique capabilities and a long-term vision for growth. Users can develop virtual experiences and assets for monetization alongside empowering avatars with AI capabilities. 

What is mixed reality?

  • Article
  • 05/25/2022
  • 5 minutes to read
  • 10 contributors

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Mixed reality is the next wave in computing followed by mainframes, PCs, and smartphones. Mixed reality is going mainstream for consumers and businesses. It liberates us from screen-bound experiences by offering instinctual interactions with data in our living spaces and with our friends. Online explorers, in hundreds of millions around the world, have experienced mixed reality through their handheld devices. Mobile AR offers the most mainstream mixed reality solutions today on social media. People may not even realize that the AR filters they use on Instagram are mixed reality experiences. Windows Mixed Reality takes all these user experiences to the next level with stunning holographic representations of people, high fidelity holographic 3D models, and the real world around them.

Point and commit with hands on HoloLens 2

Mixed reality is a blend of physical and digital worlds, unlocking natural and intuitive 3D human, computer, and environmental interactions. This new reality is based on advancements in computer vision, graphical processing, display technologies, input systems, and cloud computing. The term “mixed reality” was introduced in a 1994 paper by Paul Milgram and Fumio Kishino, “A Taxonomy of Mixed reality Visual Displays.” Their paper explored the concept of a virtuality continuum and the taxonomy of visual displays. Since then, the application of mixed reality has gone beyond displays to include:

  • Environmental understanding: spatial mapping and anchors.
  • Human understanding: hand-tracking, eye-tracking, and speech input.
  • Spatial sound.
  • Locations and positioning in both physical and virtual spaces.
  • Collaboration on 3D assets in mixed reality spaces.

The mixed reality spectrum image
Image: mixed reality is the result of blending the physical world with the digital world.


Environmental input and perception

In recent decades, the relationship between humans and computers has continued to evolve by means of input methods. A new discipline has emerged that’s known as human-computer interaction or “HCI”. Human input can now include keyboards, mice, touch, ink, voice, and Kinect skeletal tracking.

Advancements in sensors and processing power are creating new computer perceptions of environments based on advanced input methods. This is why API names in Windows that reveal environmental information are called the perception APIs. Environmental inputs can capture:

Venn diagram showing interactions between computers, humans and environments
Image: The interactions between computers, humans, and environments.

A combination of three essential elements sets the stage for creating true mixed reality experiences:

  • Computer processing powered by the cloud
  • Advanced input methods
  • Environmental perceptions

As we move through the physical world, our movements are mapped in a digital reality. Physical boundaries influence mixed reality experiences such as games or task-based guidance in a manufacturing facility. With environmental input and perceptions, experiences start to blend between physical and digital realities.


The mixed reality spectrum

Mixed reality blends both physical and digital worlds. These two realities mark the polar ends of a spectrum known as the virtuality continuum. We refer to this spectrum of realities as the mixed reality spectrum. On one end of the spectrum, we have the physical reality that we as humans exist. On the other end of the spectrum, we have the corresponding digital reality.
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Augmented vs. virtual reality

Most mobile phones on the market today have little to no environmental perception capabilities. The experiences these phones offer can’t mix physical and digital realities.

The experiences that overlay graphics, video streams, or holograms in the physical world are called augmented reality. The experiences that occlude your view to present a fully immersive digital experience are virtual reality. The experiences that can transition between augmented and virtual realities form mixed reality, where you can:

  • Place a digital object, such as a hologram, in the physical world as if it were physically present.
  • Be personally and digitally present in the physical world, in the form of an avatar, to asynchronously collaborate with others at different points in time.

When a user is in virtual reality, the physical obstacles in their immediate surroundings, such as walls and furniture, are represented digitally within the experience so that the user can avoid colliding with those physical obstacles.

The mixed reality spectrum
Image: The mixed reality spectrum

Most augmented reality and virtual reality experiences available today represent a small subset of the larger mixed reality spectrum. Windows 10 is built with the entire spectrum in mind, and allows blending digital representations of people, places, and things with the real world.

Devices and experiences

There are two main types of devices that deliver Windows Mixed Reality experiences:

  1. Holographic devices are characterized by the device’s ability to display digital objects as if they existed in the real world.
  2. Immersive VR devices are characterized by the device’s ability to create a sense of presence by blocking out the physical world and replacing it with a fully immersive digital experience.
CharacteristicHolographic devicesImmersive devices
Example deviceMicrosoft HoloLens

Microsoft HoloLens 2 image
Samsung HMD Odyssey+

Samsung HMD Odyssey+ image
DisplaySee-through display. Allows the user to see the physical environment while wearing the headset.Opaque display. Blocks out the physical environment while wearing the headset.
MovementFull six-degrees-of-freedom movement, both rotation and translation.Full six-degrees-of-freedom movement, both rotation and translation.

 Note

Whether a device is tethered to a separate PC (via USB cable or Wi-Fi) or untethered doesn’t reflect whether a device is holographic or immersive. Features that improve mobility often provide better experiences. Holographic and immersive devices can be either tethered or untethered.

Mixed reality experiences are the result of technological advancements. There aren’t any devices today that can run experiences across the entire spectrum. Windows 10 provides a common mixed reality platform for both device manufacturers and developers. Any given device today can support a specific range within the mixed reality spectrum. In the future, new devices with more expansive range are expected: holographic devices will be more immersive, and immersive devices will be more holographic.

Device types in the mixed reality spectrum
Image: Where devices exist on the mixed reality spectrum

As an application or game developer, what type of experiences do you want to create? The experiences will typically target a specific point or part on the spectrum. You’ll need to consider the capabilities of devices you wish to target. Experiences that rely on the physical world will run best on HoloLens.

  • Towards the left (near physical reality). Users remain present in their physical reality, and aren’t made to believe they have left that reality.
  • In the middle (fully mixed reality). These experiences blend the real world and the digital world. For example, in the movie Jumanji, the physical structure of the house where the story took place was blended with a jungle environment.
  • Towards the right (near digital reality). Users experience a digital reality and are unaware of the physical reality around them.

2 COMMENTS

  1. There is a lot of buzz going around the internet right now about the metaverse and how big a deal it is that the internet’s blockchain technology will grow over the next few years. A lot of people talk about how this is a massive trend and a huge game changer, but what exactly is the metaverse? Why is it such a big deal? What are people using it for ? This blog will help you to know the future of the metaverse.
    https://Metaverse

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