Metaverse overview and things to know about virtual universes

In October 2021, the phrase “Metaverse” became a hot keyword and was of intense interest. The origin is from the event that Mark Zuckerberg changed the name of Facebook company to Meta (derived from Metaverse).

Mark Zuckerberg

Mark Zuckerberg experiences the metaverse – Image: cnbc.com

I. So what is Metaverse?

Metaverse is a combination of 2 words “meta” and “verse”. “Meta” in Greek means “beyond”. And the “verse” in “universe”. Currently, there is no unified concept of the metaverse yet. Mr. Tri Pham – CEO of Whydah stated that: “Metaverser is a rather confusing concept for many people, while there are countless controversial views”. But in a simple way, Metaverse is a virtual, 3D, online space that connects users in multiple dimensions.

Metaverse

What is Metaverse? – Image: pinterest.com

II. Overview of Metaverse

1. Characteristics

  • Openness:

An open space that allows unlimited creativity. At the same time, Metaverse allows users to connect or disconnect at any time.

  • Sustainability:

The ability to maintain and continuously make improvements to the service or ecosystem in it.

  • Immersion:

This feature answers the question of how much the experience in Metaverse achieves compared to reality.

  • Economic System:

An economic system parallel to reality. In it, participants can move their assets between the virtual universe and the real world easily. At the same time, it is possible to rely on having innovative creations in it to accumulate and increase assets for yourself.

2. Application

The development of the metaverse has blurred geographical distances, enhancing human presence in the digital universe. It has been applied in many fields. From sports, entertainment to health, education,… and much more. You can sit at home and watch the sports match in 3D mode in real space. Or join a meeting with a partner in another country without having to travel. Playing games and immersing myself in a lifelike world…

Play games with Virtual Reality

Play games with Virtual Reality – Image: oxii.vn

It will be a digital world that exists in parallel with real life, giving people the experience of values ​​that real life cannot yet meet. Especially satisfying spiritual values. And towards a comfortable, high-tech life.

According to Mark Zuckerberg: “A lot of metaverse experiences will have the ability to move from one experience to another.” Thus, users can move between virtual worlds created by different companies.

3. Companies that are building on Metaverse

Currently, technology companies are racing to update new trends in this technology age. The following names can be mentioned:

  • Facebook (Meta)
  • Google
  • Microsoft
  • Binance
  • Tencent
  • Amazon
  • Nvidia Corporation
  • Unity Software

And many other names are also in the race and step into the metaverse world.

III. Metaverse is the future or just a short term trend?

THE FUTURE OF THE METAVERSE

The future of the metaverse – Image: nextmeet.live

Although this is just the beginning when Metaverse has just laid the first bricks. But it doesn’t just stop there. The decision to change the name of giant Facebook, combined with investment in AV and VR equipment to be ready to complete the essential hardware infrastructure for Metaverse in the near future. All have reflected the vision long-term in building and developing a virtual universe.

Mr. Brad Smith – President of Microsoft Corporation – said: “What you are about to see will be the metaverse version of Facebook, Microsoft, Apple and even Google. Everyone will participate in this platform.”

Metaverse is probably going to be the long term future. However, there are still some barriers. It takes time and a huge technological infrastructure to become developed, crept deeper into people’s lives.

Although there are many opinions and views about the short term and the long term. We believe that Metaverse will be the thing that changes technology in the future, just like how the Internet changed the world in the past. And it will be the next generation of the Internet. Whether from the perspective of an investor or a consumer. Do you want to participate in a technology market that creates the future? Or do you think this is just a short term trend?

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