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Is 2022 Going To Be Known As The Year Of The Metaverse?

by Nathan Zachary
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Most tech and cryptocurrency websites have made the metaverse their catchphrase this year. Analysts have been speculating on the next iteration of the internet, a concept in which users interact and live multiple lives (via avatars) in a non-physical world. This enigmatic term, which has been linked to a dystopian novel from the early 1990s, has become a focal point of tech industry debate, thanks to major institutional shifts such as Facebook’s rebranding and Roblox’s initial public offering.

Of course, every technological frontier provides opportunities to propel humanity forward and, ultimately, make lives easier. However, solutions must be critically examined, and from the perspective of an investor, the prospect is what matters, and this piece briefly examines the potential outlook for the metaverse in 2022.

What Exactly is the Metaverse?

Because the metaverse does not yet exist, defining it is difficult. People tend to conflate the metaverse with existing immersive tech such as virtual reality (VR), augmented reality (AR), and mixed reality in an attempt to narrow things down (MR).

VR headsets have been around for a while, and we still love our Oculus Quest 2, which is now called Meta Quest 2. AR (think Snapchat’s dogs and Niantic’s Pokémon Go) has also taken off, and we are seeing more utilities with MR, as these technologies extend reality by immersing users in a digital environment with applications in a variety of domains.

While these technologies will most likely interact in the metaverse, analysts believe the metaverse will offer much more with internet-enabled real-time 3D software and apps. In shared virtual worlds, users will interact with avatars, play games, acquire lands and properties, and trade, there are a few examples of play to earn game development and nft game development company.

Furthermore, the parallel universe will be accessible from any device and will be location-independent. As a result, anyone with an internet-enabled device will be able to seamlessly live a virtual life.

About Investments and Developments

There is usually a lot of excitement surrounding any new frontier. As evidenced by investments and the acquisition of human talents, the parallel universe is currently at the peak of its hype cycle.

Investments are critical to the growth of any industry, and we are already seeing some groundwork in acquisitions and funding. For example, Microsoft recently paid $68.7 billion for the gaming company Activision. The purchase grants them IP rights to well-known games such as Minecraft and Call of Duty. Grand Theft Automakers also recently announced the acquisition of FarmVille creator Zynga for $13 billion. Key VCs see potential as well. SoftBank, for example, recently invested up to $150 million in a South Korean metaverse startup.

It is clear that more people now regard the parallel universe as the next evolution of the internet, one that will almost certainly trigger a much larger shift in human interaction and behavior than the dot-com web.

The Metaverse is Alive and Well.

First, let’s discuss the buzz. The metaverse became a buzzword last year, especially after Meta announced a major company direction to create 3D social environments linked to its Oculus headsets. But, exactly, what is the parallel universe? While there have been numerous discussions about metaverses and the future of Web 3.0, more are sure to emerge this year as more events like the upcoming Metaverse Summit 2022 take place.

Metaverse is “a persistent and immersive digital environment of independent, yet interconnected networks” It enables persistent, decentralized, collaborative, and interoperable digital content that intersects with real-time, spatially oriented, and indexed content in the physical world.”

The metaverse will allow us to see our virtual presence supplement our physical one. Instead of physically attending conferences, you could attend them virtually in the metaverse. Rather than learning history from a book, you could be there witnessing it as if you were a participant in real-time events.

The Battle of Decentralized vs. Centralized in Metaverse

As organizations compete for leadership in the parallel universe, the decentralized vs. centralized debate is heating up. Several decentralized projects claim Meta will threaten the open/decentralized metaverse, where users have a say in platform management. While the increased interest of large tech companies has fueled the metaverse hype, many decentralized metaverses such as The Sandbox, Decentraland, Wilder World, Starlink, and others have been developing various metaverse projects for a long time.

The Bottom Line: The Metaverse in 2022

The metaverse is an extremely broad concept, and given the massive infrastructure required, it is unlikely to advance quickly enough for believers. However, it is reasonable to anticipate more news on acquisitions and key advances in 2022, as current developments accelerate and more tech titans like enterprise blockchain development company, and blockchain services (crypto or otherwise) join into pivot this transformation shift in our digital lives.

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