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Metaverse is a 3D virtual world network focused on social relationships. It is often described in futurism and science fiction as a hypothetical iteration of the internet, as a single universal virtual world facilitated by the use of virtual and augmented reality headsets.
The term "metaverse" originated in the 1992 science fiction novel "Avalanche", which is a combination of "meta" and "universe". Various metaverses have been developed for public use, such as: B. Platforms for virtual worlds such as Second Life. Some Metaverse iterations involve integration between virtual and physical spaces and the virtual economy, often including a strong interest in advancing virtual reality technology.
The idea is that people will be able to seamlessly move from one activity to another while maintaining the same avatars and in-game items. For example, your virtual self could go to the casino to gamble and then go to the mall to buy something. All on the same platform.
As virtual reality and artificial intelligence become more sophisticated, the lines between reality and fantasy may become blurred. Developers are working to create lifelike 3D experiences that mimic how we feel in the real world — artificial intelligence can use machine learning to make environments uniquely appealing to an individual's psyche.
It's worth noting that virtual worlds aren't new. Companies like Nintendo, Decentraland, The Sandbox, and Roblox (RBLX) have been running virtual reality spaces for years. Together, these companies attract millions of users. However, the stakes are high for big tech companies, as they aim to merge these disparate communities into a unified metaverse. With that goal, they also hope to get a piece of the multibillion-dollar bet.
For example, investment firm Grayscale estimates that global revenue from virtual games alone could exceed $400 billion by 2025, up 122 percent from $180 billion today.
Pop artists like Ariana Grande and Lil Nas X put on virtual concerts in the Metaverse and attract millions of fans from all over the world. The virtual world economy has also opened up new investments in real estate. Some investors have paid millions for "digital land" on Metaverse platforms like The Sandbox, hoping to live with celebrities like rapper Snoop Dogg.
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