With the recent increase in popularity of the term metaverse for tech giants, as well for fashion conglomerates, let's get to the roots and understand what exactly it means. We are launching a series of articles to get deeper into the topic.
The term comes in a combination of the prefix "meta" - beyond, and "verse" such as in the "universe". The metaverse is supposed to be the next phase of our web experience, and actually, is a combination of virtual reality (VR), augmented reality (AR), and extended reality (XR).
The inkings of metaverse have been existing in the world of online games for a long time. For example, Fortnite, Minecraft, Roblox have been providing virtual experiences much before the term started to be popularly used. Potentially, online games have high ambitions to influence metaverse evolution and affect its development.
In regards to the company changes, Mark Zuckerberg estimated that it could take 5 to 10 years before "the key features of the metaverse become mainstream". However, investors, artists, and brands all attempted to put their claim into the metaverse, exposing its potential for cooperation, experimentation, entertainment, and, surely, profit.
Look at the last Metaverse announcement, where Decentraland in partnership with UNXD is about to host Metaverse Fashion week's first edition.
The idea of being able to socialize or meet other people in your own comfort zone, and feeling that you are actually there with them in person, is very attractive – especially in the post-pandemic era.
On the path to creating a better world, we do not have to forget about privacy, freedom of expression, and any kind of harm, given the kind of regulations we would need to implement.