Metaverse - What’s all the buzz about?

by BTM

Fri, 09 September 2022

Metaverse - What’s all the buzz about?

Over the past few months, we all might have noticed how the internet is going crazy about the Metaverse with several articles, debates, and videos on the topic being released far and wide. It’s currently one of the hottest topics, with startups attracting funding and brands jumping on the wagon, releasing NFTs, launching virtual shops, etc. However, as an end user of the technology, it’s still challenging to wrap one’s mind around it. So here’s what you need to know:

What is the Metaverse?
In simple terms - it is the next generation of the internet. The first generation of the internet followed more of a read-only format, i.e text, from which we slowly evolved to graphics, then to video and now the metaverse with fully immersive digital interactions. The metaverse is a form of digital interaction where connected, virtual experiences simulate those of the physical world.

The Metaverse can be seen as life within a virtual world driven by ultrafast internet and multiple digital technologies, such as virtual reality (VR), augmented reality (AR), live streaming, cryptocurrency, and more. 

Why the buzz?
Even though the Metaverse is still in the nascent stage, it might take another five to ten years for it to become a mainstream technology. However, tech, media companies, brands, and consumers are actively engaging in the metaverse. 

Even though one may not notice any immediate results, as early adaptors, it will help brands and companies to establish themselved on the metaverse in the long run, where most digitally savvy Gen Z and Gen Alpha audiences will be active in the coming decades. 

The Internet’s experience with the Metaverse 
While the Metaverse is not a replacement for the internet, as it evolves it will become a system of immersive technologies and services, thereby elevating the user experience on the internet. In simple terms, it is like a comparison of normal Nokia-era phones to smartphones. As technology evolved, different technologies and services were able to be imbibed into a single device, making it a multi-purpose smart device that enhanced the overall user experience. 

Accessing the Metaverse

  1. To access the Metaverse a user would require a few technologies or devices such as:
  2. Immersive devices that support virtual reality (VR), augmented reality (AR), extended reality (XR)
  3. Ultrafast internet that allows to stream, and access content and other services in real-time
  4. Digital currency to perform transactions across digital services 
  5. Overall, the metaverse is believed to be the next big thing and it would take a couple more years to experience it in reality. Until then you can immerse yourself in a VR game and experience how realistic it is. 

Sravan Kumar.V is a Digital Marketing expert and a passionate marketer.
Find Sravan.V on LinkedIn