Metaverse is a blockchain-based open network of smart properties and digital identities that lets users improve reality.
Bahaa Abdul Hussein observed that people can meet and chat in Metaverse’s 3D universe. VR technology creates virtual reality, providing users a genuine feeling of being within a virtual realm where they can interact with each other, avatars of other people, or anything made by individuals inside.
In this virtual environment, individuals can exchange experiences and converse in real-time. The amount, diversity, and pace of data creation will require AI analysis. VR technologies, which utilize AI for hand tracking and eye tracking, will likely be used in the metaverse.
Positive Impact
The metaverse lives with us forever. It’s unstoppable. Each person can utilize it without censorship.
The Metaverse will make a wide range of experiences and products affordable for poor and middle-class individuals. The Metaverse may allow majority of humanity to explore the planet and engage with distant family members virtually.
New retailers may sell digital pets and e-clothing. Gucci, Balenciaga, and Luis Vuitton are selling e-clothes and e-bags. Nike has trademarked virtual clothing, shoes, and accessories. Buy a $650,000 digital yacht or NFT paintings for your immersive residence.
Negative Impact
Some analysts worry that metaverse usage may raise pollution. Metaverse’s reliance on VR and data centers would harm the environment, despite cutting carbon emissions by eliminating travel. Virtual reality relies on cloud services, but data centres use AI to identify eye and hand movements. Such facilities require a lot of energy, which harms the environment.
VR and the metaverse require cloud services. According to a 2020 Lancaster University estimate, if 30% of gamers switch to cloud gaming by 2030, carbon emissions will grow by 30% above present gaming. Metaverse will demand high-resolution images, which will increase energy use.
Data centers made environmental improvements last year. Microsoft promises to run Azure on renewable energy by 2025. By 2030, the company plans to replace more water than it consumes and be waste-free.
Metaverse’s Future
How user-friendly the metaverse is will determine its fate. Users will soon be able to buy digital avatars and virtual territories with crypto tokens issued by companies supporting virtual connections, organizing virtual parties, and meeting virtual friends. vEmpire CEO Dominic Ryder sees unlimited possibilities. The Sandbox lets creative players build experiences.
Apple, Microsoft, and Valve are developing metaverse tech.
Wall Street loves the metaverse. Sachs analyst Sheridan said virtual worlds might be worth $8 trillion in December, citing Morgan Stanley’s projection that US consumers alone will deliver that reward.
Metaverse development depends on research, innovation, investment, and policy. Predicting winners is difficult. If the metaverse materializes, it may grow into experiences we can’t predict. Anyone who claims to know what will happen lacks curious optimism.
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