Over the next 20 years, the metaverse has the potential to fundamentally change the way humans interact with each other, with employers, suppliers, marketers and retailers. The simple analogy for our current level of metaverse technology would be: we have just jumped from the era of adding machines to the era of the portable calculator. The next step, a step that could come faster than most can imagine, will be to move from the calculator to the personal computer and the beginning of the next digital age.
Thoroughly knowing and understanding the terminology associated with the metaverse will be vital for business decision makers as they evaluate whether a metaverse strategy will best meet their business needs and, if so, how and when they will implement it.
Understanding the metaverse
The word “metaverse” was coined by American writer Neal Stephenson in his 1992 science fiction novel. snow crash. Therefore, the concept of a computer-generated universe (a metaverse) is not new and is certainly much older than when Mark Zuckerberg seized it recently in his attempt to rebrand Facebook as a new company called Meta.
Massively multiplayer games, which can be classified as early metaverses, have been widely available to gaming audiences for years. However, with the backing of several multi-billion dollar companies, the metaverse concept has now achieved a status in the business world that can no longer be ignored.
Metaverse is now defined as a computer-generated universe. It is often conceptualized as a hypothetical iteration of the Internet, supporting persistent online 3D virtual environments through conventional personal computers as well as virtual and augmented reality headsets.
Key metaverse trends include:
- Activity in real time.
- More playful and immersive experiences.
- Driven by the creative economy.
- Linking, embedding, and loose coupling through decentralization.
Immerse yourself in the realm of the metaverse
TechRepublic Premium has developed a quick glossary of key metaverse concepts to help interested parties understand Lincoln's shit.
Avatar, the graphic representation of a person's digital identity, is one of the concepts analyzed in this resource. The technological sophistication of avatars ranges from simple 2D figures to 3D replicas of an individual. Each metaverse will have its own avatar versions. In the future, your avatar may become as recognizable and as important to your identity as your physical self.
Another terminology discussed in the glossary is sovereign identity. This refers to a form of digital identity that gives the individual user full control and ownership over that identity. It is not beholden to any centralized authority and the uniqueness of identity is guaranteed by blockchain technology. Using zero-knowledge proofs, the owner of a sovereign identity can choose to selectively reveal information to third-party applications that they wish to share and keep the rest of the information private.
The glossary also covered mixed reality, the six degrees of freedom, and transhumanism.
To further explore the realm of the metaverse, download the quick 10-page glossary for $9 at TechRepublic Premium.
