Metaverse

What is Metaverse？

What？ What is the core of metaverse？

Who？ Who is building metaverse？

How？ What are the applications of the Metaverse？

Virtual environment, virtual character, virtual reality.

According to Wikipedia, the Metaverse is defined as “a collective virtual shared space created by the fusion of virtual augmented physical reality and physically persistent virtual space, including all virtual worlds, augmented reality, and the Internet combined.”

Metaverse consists of two parts, “meta (transcendence)” and “universe”. Therefore, it is not difficult to understand that Metaverse can actually be regarded as an extension of our current existence, and is usually used to describe the concept of future generations of the Internet.

This is a virtual world that parallel to our physical world—one that we can freely access and interact with via the internet and compatible hardware devices. In this digital world, anything we can imagine can exist. In this shared virtual space, people can be seen as a digital avatar, and the virtual world will continue to grow and evolve according to decisions and actions within society.

The Metaverse is the bridge between the real and the virtual, extending our sight, sound and touch, integrating digital objects into the physical world and allowing us to enter fully immersive 3D environments at any time. This series of technologies is collectively known as eXtended Reality, Extended Reality (XR). Industry insider Eric Elliott has predicted that the Metaverse will one day bring huge economic benefits, even developing to 10 times the total value of the current global economy.

Importance of Metaverse

The metaverse, while not as fantastical as it is portrayed in science fiction and film and television, has the potential to become a new computing platform and content medium, generating trillions of dollars in value. The Metaverse promises to be the gateway to most digital experiences, a key component of physical experiences, and even offers job opportunities in the virtual realm.

There is no “owner” of the Internet today, but nearly all of the leading Internet companies are among the 10 most valuable listed companies in the world. If the Metaverse can become a key participant in the Internet system, its value and benefits are self-evident.

In fact, the Metaverse could serve as a “successor” to the functionality of the network -- with greater coverage, longer time, more commercial activity -- and potentially greater economic advantages. In any case, the opportunities generated by the Metaverse should be similar to those generated by other networks - new companies, products and services will emerge, including payment processing, authentication, recruiting, ad delivery, content creation, security, and more. It also means that many existing or traditional businesses have the potential to be replaced by the Metaverse.

More broadly, the metaverse will transform how modern resources are allocated and monetized. Advanced economies have changed over the centuries as labor and real estate markets declined.

Under the metaverse model, potential laborers living outside the “first-tier developed urban areas” will participate in the “high-value” economy through virtual labor. As a new thing with great vitality, the Metaverse is constantly creating new employment opportunities. E.g:

Fashion designer, for designing personalized clothing in the metaverse;Asset advisors, NFTs are thriving in the future, and Metaverse advisor managers will also be favored;Lawyers, in the future, in the metaverse, not only technology and communication have undergone revolutionary changes, but also transaction methods and creative forms are changing with each passing day. This calls for people to establish laws and regulations applicable to the metaverse.Tour guide, the Metaverse is a boundless world with endless possibilities. Cross-dimensional travel is likely to become a new form of travel. Metaverse tour guides need to be familiar with the fields of art history, games, immersive navigation and culture to provide professional services to visitors.

As more consumer spending shifts to virtual goods, services and experiences, there will be further changes in where we live, the infrastructure we build, and the people who perform the tasks.