Entering into the “METAVERSE”
What is Metaverse?
Metaverse is a collection of shared online environments which includes physical, augmented, and virtual reality.
Let me give you a more easy definition for “Metaverse”.
According to me, a metaverse is an interaction between humans and the internet via augmented reality, virtual reality. It is a virtual environment and we humans interact in this virtual environment via various electronic gadgets like virtual and augmented reality headsets.
Metaverse seemed to be a new word for me and I just thought that it is some future project for Meta(formally FACEBOOK). But I was wrong.
Well, when I came across some definition of what metaverse is I just had a glimpse of the “Avatar” movie which is nothing but a perfect example of what metaverse is.
And as a matter of fact, the video game that we all played or are still playing 😅is the best possible application of metaverse.
Yes, I hope by now you all might know which video game am talking about. But for those who didn't, it is……
Yeah, it’s fornite and it’s not only fornite Microsoft's Minecraft, Facebook’s Horizon, and many others are contributors to the metaverse.
History of Metaverse
History and the future are one continuous line with no beginnings or ends. We can observe how today’s breakthroughs and future trends are built on top of the framework of prior discoveries at any given moment.
Let us take a look back 40 years or more to gain a new perspective on the metaverse’s development.
1991 and 1992
Tim Berners-Lee published the first public call to collaborate on the WorldWideWeb on August 6, 1991. The next year, in his 1992 novel Snow Crash, science fiction writer Neal Stephenson invented the term “metaverse,” in which people, as avatars, interact with each other and software agents in a three-dimensional virtual realm that employs the metaphor of the actual world.
1998
Wei Dei, a computer engineer, unveiled his proposal for b-money, a decentralized, distributed cryptocurrency. It never happened, although some of the ideas are quite close to those in Bitcoin, which appeared years later.
2003
Second Life is an online virtual environment created in 2003 by Philip Rosedale and his colleagues at Linden Lab. It was a forerunner to the Metaverse worlds that are being created today.
2012
An NFT, often known as a “Nifty,” is a Non-Fungible Token that represents a unique object rather than fungible tokens, which are mutually interchangeable, such as cryptocurrencies such as Bitcoin. The notion of NFTs has been with us since December 2012, when “Colored Coins” were created, in which extra information is put onto a bitcoin to make it non-fungible yet unique.
2015
Vitalik Buterin and Gavin Wood created the Ethereum Network and the ethereum blockchain in July of 2015. In 2015, the first iteration was released. Nick Szabo initially introduced smart contracts in the early 1990s. Since 2015, the phrase “smart contract” has been used to refer to the concept of general-purpose computing that takes place on a blockchain or distributed ledger.
2020
Open-source, transparent apps for gaming, DEXes, DeFi, and other abbreviated purposes continue to develop. The first app was the Bitcoin app, which was released more than a decade ago. Travis Scott and Marshmello performed in the computer game Fortnite to slightly around 30 million people in April 2020. The Solana blockchain app was also introduced in April. Unlike Ethereum, this app's money, known as an SOL, is mined using the alternative proof of stake (POS) method. This extremely popular app was built on a multi-metaverse interplanetary scenario with NFT actors interacting in a decentralized autonomous organization.
Note: The above history is explained on thedapplist.com.
The Hype!
So let me orient you upon the actual hype about the metaverse.
“Everything can be exchanged in the metaverse; this is a big opportunity for creators to come up with something unique and carve out a place for themselves. You may rent out your property for events, design wearables that others can buy and wear in the metaverse, set up billboards, and develop games. “It all relies on your imagination”.
The main reason for the hype was when the pandemic started there was a boom in the NFT industry. A whopping $2.5 billion in sales is projected for the first half of 2021, up from $13.7 million a year ago. The data says it all.
Stay tuned for more and also….
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