The internet is changing, and Web2 is giving way to Web3, and the Metaverse experience. With the advent of Web3, the Metaverse is possible, and in reality, it is growing. Web3 makes decentralization possible in a new way, and with blockchain technology, Web3 and the Metaverse will take interoperability to a new level.
Despite being a new technological innovation, Metaverse technology is attracting loads of investment. There has been a rush to invest in both platforms and NFT-based assets, like NFT art, and virtual land. With this new area comes opportunities, and you should understand the layers that make up the Metaverse.
There are numerous fundamental levels that comprise the totality of the Metaverse. We will look at all the angles of the Metaverse, so you understand how to best tap into its emerging value chain.
The Metaverse is a virtual 3D space that has all the attributes of the real world, and allows social interaction in the same way that our world does.
With the advances in Virtual Reality (VR) and Augmented Reality (AR), new online Metaverse experiences are possible. The Mixed Reality (MR) model of the Metaverse can also tap into the Internet of Things (IoT) and bring another layer of interaction between real and virtual worlds.
Blockchain and social media are vital parts of the Metaverse, as cryptos allow real world value to enter the digital space. For example, a person can buy an NFT with a digital currency, and the creator can spend the cryptocurrency in the real world on anything they want. In this way, the Metaverse is an extension of the real world.
Let’s take a look at the seven levels of the Metaverse, and see how physical reality becomes an interactive digital space.
The Metaverse experience is being designed along the lines of the real world, and the experience of the Metaverse will be incredible. While the experience in the Metaverse is similar to the real world, the laws of physics become subjective in digital space. With Virtual Reality (VR) technology, users can do things that would be impossible in the real world.
Gamers are already familiar with the kind of experiences that will be built into the Metaverse. In addition to gaming opportunities, social interactions with other Metaverse residents in platforms like DecentWorld give a real life+ like experience. The development of these platforms has been supported not only by private investors, but also by the public, in the form of digital land sales.
The Metaverse may be the most effective information economy ever created. The ways that information is distributed in the Metaverse layers can be broken into push and pull, and the two directions work together. Pull is inbound information delivery, and Metaverse users will seek out information in the platforms that make up the Metaverse. Push information is sent to users, much like push notifications on a smartphone.
The Metaverse relies on content creators, much like any other form of social media. In fact, it is best to think of some Metaverse layers as an extension of social media, although one that is at a very advanced level of technology. The creator economy in the Metaverse could be worth billions of dollars according to market mavens, and numerous digital goods can be sold directly to consumers, or via platforms, like OpenSea.
In addition to item sales, creators can also host events, or make places for their fans to hang out. In fact, there will likely be a new market for themed spaces, where people can be with like-minded Metaverse residents, and catch the latest drops from their favorite creators. One thing to consider is accessibility, as many people may not have the ability to buy top-tier VR/AR equipment.
Here are some of the ways that creators can leverage the Metaverse:
Augmented Reality (AR) is a wide development arena, and spatial computing is one of the ways that it is being used to create new interactive experiences. Unlike VR, spatial computing takes advantage of the physical objects around a user, so that the virtual and real worlds meet. Gaming is one area that can use this technology, but it can also be used for meetings, or other social occasions.
While the kind of equipment needed to create effective spatial computing is more complex than a simple VR helmet, it offers a far more immersive experience that blends the Metaverse with real life. The characters in a spatial computing environment can be AI generated, or they can also be avatars. There are loads of applications for this kind of AR, including shopping, gaming, and design applications.
The world of Web2 was ruled by massive companies that control data. In the Metaverse, Web3 design is coming online. With this new way of viewing data, people will own their online data footprint, and have the ability to see who is viewing it, and control if it is available.
In short, Web3 and blockchain mean safety, control, and decentralization. Early Metaverse platforms are already using blockchain to establish trust and ownership, and this is very easy to see in the NFT industry. Blockchain technology predates Metaverse layers and Web3, but it may eventually be seen as a proof-of-concept for the next generation of online development.
Systems like Decentralized Finance (DeFi) show that people can own, trade, and earn from systems with no centralized control structure. It is likely that the Metaverse will leverage this design philosophy on a much wider scale.
Clearly, without human interaction, the Metaverse is useless. The human layer is how people interact with the Metaverse using the latest technology.
People want to have a realistic experience in the Metaverse, and today that means AR/VR technology. In the future, the human layer may expand to be bodysuits that provide sensations, or even implantable tech that interfaces directly with the brain.
The infrastructure that operates the Metaverse is still being created. With continued development, the Metaverse will grow.
There are five kinds of technology that are vital for the Metaverse:
The Metaverse is in development, and it will grow from here. It is easy to see that there will need to be a lot of improvement to existing technology before the Metaverse is a reality. Much like the internet, there are many years of hard work ahead of developers before the potential of the technology is realized.