5 Key Technologies for the Development of the Metaverse
The Metaverse. It is the buzzword on the lips of everyone with a computer nowadays. Maybe not everyone, but the fact that over 2.5 million searches for the term Metaverse were made in October alone shows just how much people want to understand this concept. We are pretty sure besides the word Metaverse, terms like NFTs, Blockchain and Decentralisation have also been on the rise. While we will give our definition of the Metaverse, our focus in this post is to examine the 5 key technologies that would be instrumental for the development of the Metaverse.
What Is the Metaverse?
When the word Metaverse pops up, your mind quickly goes to Mark Zuckerberg’s renaming of Facebook to Meta in a bid to claim a stake in this vast emerging world. The truth is the term Metaverse has been around longer than most people know. The first use of the term Metaverse was in a 1992 novel titled Snow Crash by Neal Stephenson. The book was about a couple of characters who explore the digital world together while trying to escape a dystopian reality. This basically defines the concept of the Metaverse as we know it.
The Metaverse is a virtual world where normal everyday activities take place. You are allowed to interact within this world as you would in the normal world. While this is a simplified definition, it covers what exactly the Metaverse is trying to achieve.
For the Metaverse to become a reality, a lot of technological development has to take place.
5 Key Technologies for the Metaverse
For the Metaverse to truly become a reality and set itself apart from every online role-playing game, there has to be some technological advancements to make the experience much more practical and immersive. Amongst the numerous technological developments, here are 5 technologies that are key to the development of the Metaverse.
Internet of Things (IOT)
The concept of IOT has been around since as far back as 1999, and it basically implied the interconnection of everyday things via the internet. It involves the intelligent connection of devices, home appliances, vehicles and the like through pieces of tech that have software and allows these items to connect and interrelate with each other. This is especially important for the Metaverse as it would be vital in translating and converting accurate data from the physical world to the digital world. With IOT, the virtual world of the Metaverse would be able to properly reflect properties of the physical world including real-time changes to these objects. Steps should be taken to protect this interconnection through safeguards from and in case of cyber attacks.
Augmented & Virtual Reality (AR/VR)
The term ‘Augmented Reality’ refers to a display of a view of a physical, real-world environment in which aspects of that environment are augmented (or complemented) with computer-generated visual input.
It enhances a person’s vision of the natural world by incorporating elements generated by a computer.
The term ‘Virtual Reality’ (VR) refers to an environment created by a computer and features sights and objects that give the impression that they are genuine. This provides the user with the impression that they are entirely immersed in their surroundings.
This is especially useful in the Metaverse as both AR and VR allow us to interact with and within the virtual world. Gradually we will see the integration of VR and AR elements in various aspects of the Metaverse, including trade and e-commerce.
Related IndustryAugmented & Virtual Reality Development Services
Artificial Intelligence (AI)
Simply put, Artificial Intelligence is the kind of intelligence displayed by machines, computers and technology in general as opposed to natural intelligence by humans and animals.
AI is faster than humans in organising, presenting and executing data. Gradually AI has become a vital part of various processes in various industries including machine learning, facial recognition, business strategy planning, robotics, and so much more.
In the Metaverse, AI will be valuable in ensuring the stability of systems and creating non-human characters and automation within Metaverse spaces. It will be useful in translating 2d objects into 3d objects for the Metaverse.
While AR and VR are the parts of the Metaverse that are visible to the users, AI will work more in the background.
Blockchain & Cryptocurrencies
Probably the most popular technology amongst the 5 here, a blockchain can be thought of as a distributed database or ledger that is shared among the various nodes of a computer network. A blockchain can function as a database since it maintains information digitally and electronically. On the other hand, Cryptocurrency refers to digital currency often created and managed via the blockchain; notable examples include Bitcoin, Ethereum, and XRP. One key thing about the blockchain that will be significant in the Metaverse is how its record is public and cannot be altered. When integrated into the Metaverse, this will play a vital role in keeping records and monitoring activities within the Metaverse. Cryptocurrencies will also be necessary for payment since the Metaverse is a digital/virtual world, and there will be places for exchanging goods and services for payment; cryptocurrencies will be important for facilitating such payments.
In the future, crypto might give people a reason to work in the Metaverse. As more companies move their offices online so that people can work from home, there may be more jobs related to the Metaverse.
What is a Metaverse without avatars and a 3D environment? 3D reconstruction is the creation of 3D objects in virtual spaces. It isn’t really a new form of technology, but its usage in land-related matters increased in the wake of the pandemic. Potential land buyers unable to go to the land would view it through a 3D representation. This is just one use of 3D reconstruction, and this use case expands dramatically in the Metaverse. From 3D human avatars to land and property on the Metaverse, 3D construction will be vital to the development of the Metaverse.
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These technologies will continue to play essential roles for every company attempting to create its own platforms, even though we have not yet succeeded in developing a single platform for the Metaverse. Companies such as Meta and Nvidia are currently engaged in a competitive race to establish a foothold in the Metaverse. Their success would largely depend how well they are able to harness these technologies.
The team at Aristek have a proven track record of helping companies integrate working systems into their business processes. This is something that would also be needed in the Metaverse, and who better to help than a team with years of experience behind them?