Ever since Facebook rebranded itself and changed there name from Facebook to Meta, the hype of this metaverse just increased beyond limits. In this blog I will be talking about metaverse, what it is actually & what opportunities does tit brings to common people.
So, the name metaverse was first coined in 1992 in the Sci-Fi novel Snow Crash written by Neal Stephenson, at that time it was just an imagination that someday technology will make things happen and the same will be happening in the coming future. Now starting with the definition of the metaverse, Metaverse is the universe of the Internet that is created with the help of Virtual reality, Augmented reality, Blockchain & Web 3.0.
That’s too many terms in a single definition & yes, it seems to be a bit complex to understand but believe me it is not. Metaverse is under creation but one thing is for sure, it will change the way we live, think & communicate.
What will be inside metaverse?
Lands, houses, parks, clubs, xing, roads, trees, cars, shoes, you name it metaverse will have it. Metaverse will be a place where everything will be present virtually and you will be able to interact with all of those things, by actually sitting in your home or wherever you want, all you need will be some recommended gear and Internet.
Now, the question may arise in minds of some people, why I will visit metaverse?
What is the need for metaverse or Visiting a real club is more enjoyable than visiting in the metaverse. Yes, visiting any place, in reality, is always a great thing but at the same time visiting a place in the metaverse will be nothing less than that.
Let’s take an example, you are not at your place due to some reason and you want to meet your family. Things you can do to communicate can be, a call, a video call, or writing letters or emails, but think that if you call the person you want to talk to and they come in front of you, of course virtually, they will not be teleported, technology is still not there.
In metaverse, you will be able to interact with the whole world just the way you interact with millions of websites using a single browser.
Metaverse in simplest terms
I assume that you all have played games like PUBG, Fortnite, GTA, etc. where you have your own avatar in the game interacting with avatars of other players in the game. This is extremely similar to the metaverse, in metaverse everyone will have their own avatars and we will interact with avatars of other peoples. We would be able to see, talk & maybe feel the sensation of touch with the help of designed suits.
If you are an office person you can have your office in metaverse where you will be able to meet your clients virtually, if you are a party person then you will be able to go to the club in metaverse with your friends.
Components of Metaverse
As stated in the definition of the metaverse, that metaverse is being built with the help of Blockchain, VR & AR, & Web 3.0, so these three technologies are the major backbone of the metaverse. Blockchain technology will provide seamless decentralization, VR & AR will together make the metaverse more realistic and enjoyable, while Web 3.0 will provide the platform independence.
Metaverse is currently in the building phase where a lot of research is being done and many developers are sitting and working to make it a fantastic project to date.
Opportunities in the metaverse
Will metaverse create opportunities for real? A question that might come to your mind. So the answer is yes, metaverse will bring a lot of job opportunities and a better work environment for everyone. Now the question arises how, so let’s take an example, we all know that Google is the biggest publisher network and everyone wants their ads to run on Google, why? Because Google has the largest user base, Google provides the best monetization to all.
The same will occur in the metaverse, as more people will join metaverse, more companies & projects will also shift to the metaverse, thus creating a lot of opportunities.
Will there be only one metaverse?
No, there will be a lot of metaverses just as there are a lot of websites. Many companies are coming forward to build metaverse, some are in collaboration with each other while some taking this challenge alone.
Metaverse will not only create jobs but also a lot of investment opportunities because soon the time will come when people will start to say that, if your business is not in metaverse then you are out of business.
How to invest in metaverse projects?
You can invest in stocks of companies such as Meta [ Facebook ], NVIDIA, Microsoft, Amazon & other big players such as UNITY & Tencent. Some people remain on the safe side and some love to take risks and that’s why it’s totally up to you, either you can invest in metaverse crypto tokens or you can invest in stocks of companies building the metaverse.
Stocks are like low-risk low reward while crypto gives a high reward with high risk, so it’s totally up to you how much risk you can bear & always remember to do your own research before making any investment.
Here is a link from where you can check the metaverse ETF: https://www.roundhillinvestments.com/etf/meta/full-holdings
Closing thoughts
Metaverse is still a very new concept and the early investors are mainly the persons who are already multimillionaires for whom this is just like a bet if they won they will win big, and if they lost it will not affect their pocket much. So before making any investment do a thorough research of the project, look for the team members, investors, roadmap, and only then make a wise move.
