How the metaverse will shape our daily lives

2022-04-15, 03:16

The metaverse is a combination of various technologies which include virtual reality, augmented reality, artificial intelligence and 3D reconstruction.

The metaverse changes the way people do business and communicate.

In education, the metaverse will create equal learning opportunities for people around the world.

In the gaming sector, players will gain more satisfaction from the achievements they get as well as their interaction with other players in the world of each game.

With the metaverse, we envision a virtual world where people are able to interact with one another in a way similar to what we do in the physical sense. We will understand how we benefit from the metaverse if we know what the term means. However, it is important to appreciate that there is no one universal definition of the word metaverse. Organizations and individuals define metaverse based on their goals and the directions they focus on.

What is the metaverse?

Simply defined, metaverse is a network of 3D immersive platforms where people interact with one another and 3D components in a way that we do in the physical realm. In reality, using their avatars people can meet, chat and carry out various tasks which they normally do on a day to day basis. By the way, the avatars are the virtual representations of the people.

The technologies that drive the metaverse include virtual reality, augmented reality, artificial intelligence (AI), 3D reconstruction and the internet of things (IoT). For now, let us give attention to 3D reconstruction as it has closer significance to our discussion than the other components. 3D reconstruction is a technology which enables people to scan real world environments and transform them into virtual space. For example, someone can scan an entire house as it exists physically and present it in a virtual form.

How will the metaverse affect our daily lives?

Many people who have been mesmerized by the concept of the metaverse have inquired how it can transform their daily lives. In this article, we will explore the major ways in which the metaverse will positively affect our lives. Basically, the metaverse will transform how we do business, how we communicate, our education system and the entertainment sector, among others

Metaverse and business
In the near future, People will do much of their business activities in virtual spaces where they can mingle with one another. Business leaders will meet and interact with their subordinates, associates and clients in shared virtual environments. However, this is very different from video conferences and online team collaborations we have at the moment.

Therefore, if you have big business meetings and conferences you need to do in any part of the world, you will no longer travel to such places. You can attend them from wherever you are, yet with the right aura of meeting physically. Apart from reducing travel expenses associated with business activities, people can work from anywhere around the world.

Metaverse and communication
Definitely, the metaverse transforms the way people communicate with one another virtually. It creates room for people from anywhere in the world to interact in shared virtual spaces just like we do in physical settings. However, in the metaverse people use their online identities in the form of avatars. In this way, you will be able to see different people as if they are right there with you. Nonetheless, in order to achieve this you will need your avatar and VR device.

Metaverse and education
The Covid 19 pandemic has shown the increasing need for quality online learning which brings similar, or better educational, experience as in the physical setting. The metaverse will, most likely, allow classes to become more personal and interactive than ever before. In addition, there should be more visual and experiential components in the learning environment than in the physical setups.
In fact, the metaverse will enable students to have specific and real life experiences which enhance their learning capabilities and levels of assimilation. For instance, students learning about planets will be immersed in an environment where they virtually relocate from one planet to another.

Take note that the metaverse will allow students from anywhere around the world to access similar quality education in an environment which is well suited to their learning needs.

Metaverse and entertainment
The entertainment sector is going to undergo a real revolution, bringing previously unimagined experiences. Most notably, the users will be completely immersed in the experiences rather than being mere spectators. For example, sports fans will watch their games from anywhere in the world, yet feel as if they are physically present on the sporting venues.

In addition, the organizers of the events and concerts will sell virtual tickets, not restricted by the seating capacity in the venues. This is because people will be able to attend the events while seated in the comfort of their homes. For example, musicians will be able to sell millions of tickets, at any time, to their fans around the world. They also save the cost of renting venues since people attend virtually.

Gaming
In the future, video games will become very immersive, meaning that the players will get first hand experience of these games. As a result, the players should gain more satisfaction through the accomplishments they get by navigating the world of every game. Moreover, the games enable the players to interact with one another in an interoperable virtual environment.

One interesting thing is that the games reward the players with cryptocurrencies and other in-game assets which they can convert to cash. As we already know, this play-to-earn gaming model has already created much hype in the industry. Popular gaming sites such as Decentraland and SandBox have already dominated the sector.

Real estate
The metaverse provides people with virtual reality experience. In other words, people gain the experience they would get from the real world through interacting in the virtual space. How does this happen in the real estate sector? It is simple since the real-estate agents do not need to travel to view houses, premises and buildings on sale as they only need to have a metaverse real estate tour. The experience is just the same as the one someone will have after a physical tour of the place. Therefore, all potential buyers of houses, buildings, offices or any other physical property can view them virtually.

Shopping
The metaverse creates the opportunity for virtual shopping. This means that people can purchase real world products online. In other words, people will visit metaverse supermarkets or malls and buy the products they want.

Tourism and travel
One of the much anticipated outcomes of the metaverse is virtual tourism. People will be able to visit the virtual spaces of historical sites and tourist destinations you can think of. Imagine visiting each one of the seven wonders of the ancient world virtually. This is because people will recreate these places and sites into virtual ones, capturing their picturesqueness through 3D reconstruction.

Conclusion

All in all, the metaverse is a large ecosystem with many gateways, platforms, infrastructures and many service providers which presents unique experiences to people. Analysts predict that it will cover the main sectors of the global society such as real-estate, education, gaming, tourism, business and communication. Currently, many companies are venturing into the metaverse space, thus it is a matter of time before its mainstream adoption.

Author: Mashell C., Gate.io Researcher
This article represents only the views of the researcher and does not constitute any investment suggestions.
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