Metaverse, Internet, and Blockchain

There’s a common saying, “You become what you pay attention to” and lately people are investing pretty much all their attention, time, and efforts on the internet. This was already in the works and the pandemic accelerated its manifold. 

Natural evolution

When you and I are locked in our houses with our smartphones with an internet connection, it’s unsurprising that we’re going to spend our time on the internet, chatting with people, consuming content, etc. 

Long story short, you and I will be paying all our attention to our virtual life rather than physical life. The concept/idea of having a virtual life more valuable than physical life is the metaverse.

Virtual economies

When you live and breathe on the internet, you live with an avatar that is truly unique just like you, your possessions, and everything is unique. For that, we have NFTs (Non-Fungible Tokens), that represent uniqueness and authenticity. NFTs are one of the use-cases of the wider blockchain technology that aims to decentralize the world. 

For starters, NFTs are going to be a big part of the metaverse that will make it open for all. Like nobody owns the internet, nobody will own the metaverse too, that being said, a blockchain that is nothing but an open ledger is going to propel the idea of the open metaverse.

Silicon Valley joins!

As we speak, many of the Silicon Valley folks have figured out where the world is heading into and they don’t want to miss the bus! Hence, recently we saw one of the biggest moves propagating the metaverse, FB rebranding itself to Meta.

Zuckerberg knows how social interactions are evolving and where the equilibrium lies, 3D! That’s why FB owns Oculus, a virtual reality hardware player. Zuck wants to make FB a metaverse-first company rather than social media-first.

Not only FB but also Microsoft and even Nike have plans to go all-in the metaverse.

Immersive tech at the heart

One condition of fulfilling the metaverse is by having immersive experiences with the other person irrespective of the physical distance between you. This will become fulfilled by 3D tech, which is largely VR (Virtual Reality) & AR (Augmented Reality). 

So, being on your couch but still living with your friend will become a reality. 

Progressive

Let’s not move too far ahead of ourselves and realize that still there’s a lot of activity that takes place in the physical environment so it will take a lot of time, probably 10 years, for the metaverse to fully materialize.

So as of now, every tech company sees a lot of potential in the virtual/online lives of people and every one of them wants to have a piece of the next internet.

What do you think?

Manvinder

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