Metaverse Decoded: All You Need To Know
Mark Zuckerberg, founder of Facebook, now wants to give a new identity to his company. In a recent interview, he said that in the next five years, he wants people to know Facebook not as a social media company, but as a 'metaverse' company. After this interview, the word 'Metaverse' has become the buzzword. So what exactly Metaverse means? In this article, we tried to explain the buzzword in the most simple way.
What is Metaverse?
Metaverse is a kind of virtual space set, which anyone can create and share it with another person who is not present in that physical space. Using this, anyone will be able to hang out, play, work, learn, shop and make friends virtually. Simply put, with the help of the Internet, a 3D virtual space can be created in your surroundings in a way people will be able to create their own virtual world. As you get to see in science fiction movies.
Is It Worth Our Attention?
You must have realized till now that big tech companies like Apple, Facebook, Google and Microsoft are developing lots of solutions to make our lives better. Metaverse will also be capable to change our life style to a greater extent. The 'Metaverse' concept will create opportunities for new markets, new types of social networks, new consumer electronics and new patents. It will be entire new ecosystem.
Recently, Facebook announced the XR Programs and Research Fund, a two-year $50 million investment in programs and external research. This program will help in the creation of the Metaverse. Through this fund, Facebook will collaborate with industry partners, civil rights groups, non-profit and educational institutions, and governments to determine how the Metaverse can be built responsibly.
Let us tell you that Metaverse is not a single product, which is being developed by Facebook and it will not be built overnight. According to reports, it will take at least 10 to 15 more years for these kinds of services to become the part of our lives.
