The metaverse, an alternate reality where you can work, play, and socialize without ever leaving your home, is currently receiving massive amounts of funding. Will the expansion of this vast virtual space not permanently alter communication codes, blurring the lines between reality and the virtual world?
What exactly is a metaverse?
Everyone has heard of the metaverse today. The concept is relatively new, but it actually dates back to the 1990s and the ideas of scientific science fiction. The metaverse boundaries are difficult to define in the modern era because technology is always pushing them further and further into the realm of the possible. It is best to go there in person to form your own opinion of him.
One of the first open source meta-platforms to hit the market was Somnium Space. To learn more about what it’s like to live, work, and play in a different environment, Euronews spoke with its founder and CEO Arthur Sychov. Arthur was conversing with a journalist who came from a different planet. “You are entirely integrated into virtual reality when you are using it, as I am right now. My presence is therefore fixed on both a mental and physical level because my brain has registered that I am here. My brain confirms that I am in this area, and I take its word for it, “Sychov says.
By changing its name to Meta, Facebook emphasized its desire to integrate the metaverse heavily into its corporate identity. However, organizations like Microsoft, Alphabet, Roblox, and NVIDIA also make significant investments in VR.
The market could generate 800 billion dollars in revenue in just two years, demonstrating the enormous potential of the Metaverse economy. In that case, the global economy will gain $3 trillion more over the following ten years.
Business and Parallel Universes
There is more to the metaverse than just entertainment. Some businesses develop solutions that can be used in the real-world thanks to the parallel digital reality. This is what the newest technical lab of PwC consultancy in the Middle East does. “The PwC metaverse proposes to see technological development as an evolution rather than a revolution. We continue to be very adaptable because we recognize that everything is constantly changing, including our clients’ needs, “Rahaf Abutarbush, a laboratory engineer with PwC, says.
PwC’s experts are increasingly coming up with creative ways to transcend the physical world without losing touch with people using technologies like robotics, artificial intelligence, virtual reality, and more.
According to Steven Anderson, head of PwC strategy and markets in the Middle East, “It is not enough for our customers to watch presentations and receive recommendations; they want to see how everything is implemented.” New technologies are crucial in this regard.
What about security in the metaverse?
Concerns about virtual reality’s effects on people’s psyches and communication skills increase along with virtual reality’s popularity. Children are the subject of special attention because they are the most content in the metaverse, but because there aren’t any clear rules, it can also be dangerous. What do developers do?
This question was addressed by Tami Bhaumik, Vice President of Civil Relations and Partnership at Roblox. Over 40 million people use Roblox every day, and Team Tami’s responsibility is to keep the kids together. “We are a technological platform that enables users to develop unique gaming experiences and share them with others. But you need to live in the real world to fully realize your imagination. Parents frequently expressed worry: “What is Roblox, exactly? How can I protect my children?” I eventually came to the realization that while it was undoubtedly a huge responsibility on our part, it was also an excellent opportunity to carry out educational work because of how wonderful our community is”.