Imagine you are having brunch with a close friend on a Sunday afternoon. He mentions a watch he likes and suggests you might also like it. In a nick of time, a selection of watches flashes up into your peripheral vision. As the digital images float by, he details the style, allowing your Artificial Intelligence (AI) assistant to fine-tune the selection. You see the watches he recommended but you do not like some of the detailing. Your AI assistant copies them and open up your customizer.
Welcome to the world of Metaverse. It is a hybrid virtual-physical extension of our connected world that uses both augmented and mixed reality to create a 3D version of the Internet. It not only connects people and objects in the virtual world to reality, but also integrating the digital and the physical world, digital and social life, digital and real-world economy, digital and physical assets, digital and real identity and other scenarios you name it.
From Facebook to Meta
The change of Facebook’s name to Meta came as a big surprise to the world. The pandemic has also accelerated the coming of the Metaverse and facilitated online culture, with a wide range of real-life cases such as online concerts, online exhibitions, social gatherings, video gaming and remote healthcare getting online and using the Metaverse to build brands and make connections.
In the word of Metaverse, every person will have a character that represents themselves called an avatar. People will learn how to express pieces of ourselves through these avatars in ways that we may not have been able to test out before. We will soon be able to make cash from these digital avatars by putting them to work in Metaverse-related jobs. Below are a few impacts on the human life that we foresee:
Redefining Living in the Metaverse
The beauty of the Metaverse is that we can experience a limitless virtual world in which you can do things you think of:
1. Work-From-Home
The Metaverse creates virtual work culture. It could be an enhanced work-from-home experience that makes you feel part of the team and not isolated in your home. This is a journey to the infinite office.
2. Online Shopping
The Metaverse will be a seamless experience that makes it easier for shoppers to find exactly what they want, and when they want it. Guru fashion brands are already making millions of dollars selling clothing and accessories that exist only in the Metaverse.
3. Entertainment & Gaming
Media and entertainment experiences in the Metaverse will no longer be standalone affairs, almost like a live webinar service. Concerts are sponsored. VR games are highly correlated such as Minecraft, Fortnite that have accumulated huge user bases.
4. Cryptocurrency
If you want to be a part of the Metaverse and NFT universe, you must purchase relevant crypto tokens. We will have to learn how to use these tokens and why we should invest in them. JPMorgan believes that the spending in Metaverse will reach over US$18 billion by 2027.
5. E-Learning
As innovative as it is now, e-learning via video conferencing will soon be regarded as old technology. Metaverse apps can create a virtual space for students where they can walk, write and communicate with classmates, transforming the e-Learning industry.
Conclusion
Whether it brings us closer to a utopia or a dystopia, the Metaverse is certainly going to make changes to our daily lives. For those who believe the future is science fiction? The future is already here!
