Living in the Metaverse: Myth or Reality? LATOKEN Review

Metaverse explained… What is it, how to get there? Who will be the pioneers in creating an alternate reality? Can the matrix replace smartphones and tablets? Read in our new LATOKEN review!

The idea of the Metaverse. What, where, and when?

The first idea of the Metaverse appeared almost 30 years ago in Neil Stevenson’s science fiction novel “Snow Crash.” According to the book’s plot, corporatocracy reigns on Earth in the 21st century — all the power belongs to large corporations. Also, in addition to the real world, there is another world — the virtual one. There, people interact with each other in the same way. The real and virtual worlds are intertwined: events in one world can influence what happens in another world. This novel became the source of the term “avatar.”

Now we can explain this term quite clearly and easily. Metaverse is the convergence of physical, augmented, and virtual reality in a typical online space.

Metaverse: how does it work? LATOKEN review

The prototype of the matrix in the real world is the Internet. Major players from the world of www (world wide web) and technologies are already making plans to create a Metaverse. For example, not so long ago, Mark Zuckerberg announced the start of work on the “three-dimensional Internet,” which may completely change our understanding of interaction with content — we will not consume information. Instead, we will be inside information.

There are many metaverse concepts, but the most famous belongs to the venture capitalist Matthew Ball. In his presentation, Ball has provided several characteristics of this other world.

  • The Metaverse does not end: it cannot be paused, erased, or terminated.
  • All events inside the Metaverse take place in real-time, and the actions do not depend on external factors.
  • There is no limit to the number of those who inhabit the Metaverse.
  • The Metaverse has its own economy: people receive “money” for the “work” done, own and manage the property.
  • In the Metaverse, you can use elements of the real world: for example, work on your laptop in a virtual space.
  • Data and digital assets from different platforms are combined: you can use things from Counter-Strike and Fortnite, buy a car from Need for Speed and sell it to your friends on Facebook.
  • The Metaverse is filled with “content and experiences” created by its users, both individuals and organizations.

Metaverse design is relevant in the educational and corporate environment and the field of communications.

First steps towards the Metaverse

Facebook recently released its new Oculus Quest 2 VR headset app. Horizon Workrooms is a virtual space for everyone who works remotely. You can join such a meeting without using VR glasses or a helmet. Your laptop is enough. Each participant has their own avatar. As of today, Horizon Workrooms does not look like an actual Metaverse. So far, it seems more like testing technology. The app supports hand tracking, remote desktop video streaming, spatial audio and can sync with Outlook and Google calendars. Inside there is a tracker for eyes, face, body parts, which helps the avatars to move smoothly. No more than 50 people can attend a virtual meeting at a time.

If you think about it, this technology is not entirely new: Apple introduced Memoji in 2020: there, emotions are copied by an avatar that looks like a person and those that depict animals and other creatures.

Another Facebook project is Infinite Office, which is designed to work from home through the same Oculus Quest. Also recently, Facebook, together with Ray-Ban, released smart glasses, which were originally supposed to have tools for facial recognition. But later, this idea was abandoned because such technology could become a tool for invading privacy.

Microsoft also contributed and did a lot. The head of Microsoft, Satya Nadella, believes that the set of cloud services Microsoft Azure is in some sense an enterprise metaverse. One matrix rule works in it for sure: it mixes two worlds, creating digital copies of objects and allowing you to work remotely in something like mixed reality.

Furthermore, Microsoft has a Mesh platform that you can connect to using a VR headset, tablet, smartphone, or PC. The people inside Mesh exist as virtual avatars from the social network Altspace VR, but the company wants to move to “holoportation.” Then people will appear in a virtual environment, looking just like in real life.

So far, Epic Games has advanced the farthest in the development of the Metaverse. In 2020, during the lockdown, approximately 12 million Fortnite users worldwide logged into the app to listen to rapper Travis Scott live. The performer earned $20 million from this digital show, even though the entire concert was only 12 minutes long. Now Epic Games has raised $1 billion to create the Metaverse: first of all, this money will be spent on developing the Unreal Engine system for new VR and AR projects.

To find out more about the Metaverse and some of the popular Metaverse tokens, follow the link below and read our LATOKEN Review:

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