What is the Metaverse? Concept, Application and State of Market Explained in 3 Min!

As technology advances day-to-day, most of our lives revolve around the internet. We shop, browse, and express our thoughts on the internet everyday and create an alter ego of ourselves that exists only in the virtual world. This seemingly improbable concept is now already on its way to become a reality in the form of the Metaverse. So what exactly is the Metaverse? Why is it so significant to the future that even Mark Zuckerberg decided to change Facebook to Meta? We are here today to explore the concept, origin, capacity and share some insight on the applications and market trends of the Metaverse.

What is the Metaverse? Origins and Concept

The concept of the Metaverse was first mentioned in Snow Crash, a 1992 novel written by American author Neal Stephenson. The novel depicts the protagonist living in a virtual simulation, and hence the idea of the Metaverse was created.

The word Metaverse is composed of two parts, Meta and Verse, indicating a realm that transcends reality, where users can create a virtual identity distinct from their true self to conduct transactions and engage in conversations and social interactions just as in the real world.

How did the Metaverse come to be? 5 Major Technological Advancements

So how was a virtual realm this vast built? These are the 5 major tech advancements that brought us the Metaverse.

1. Internet of Things (IoT)

IoT is the technology that facilitates communication between a collective network of connected devices and the cloud, it computes and keeps track of human-machine interaction and through continuous collection of data and patterns, the arranged mass data provides machine learning for the AI and optimizes the process, using systems such as RFID and facial recognition to enhance the user experience in the Metaverse.

2. Artificial Intelligence (AI)

AI records the data collected by IoT and interprets and analyzes the user's images and activity records via machine learning to improve on the already surreal virtual world. For example, NPCs (non-playable characters) in the metaverse can gradually learn and update its behavior via AI machine learning algorithms to further present verisimilar interactions such as emotions and speech when encountering a real user.

3. Telecommunications Advancements (5G)

Due to the nature of the metaverse being a virtual realm built on the internet, whenever a user wishes to enter, internet connection is required, and 5G can greatly decrease latency and connectivity issues to provide synchronized movement, speech and reactions of users and maintain a smooth gaming experience, maybe even to the degree of providing AR (augmented reality) features to integrate the virtual world interfaces into the real world fr players to venture in.

4. Brain-Computer Interface (BCI)

Brain-Computer Interface, sometimes referred to as Brain-Machine Interface, allows machines to read and analyze a brain's electrical activities and direct commands to a robotic device or computer and create a more immersive environment through external stimulations.

5. Blockchain

Blockchain utilizes decentralization to keep records of transactions and scatter them all throughout databases around the world to prevent malignant attacks by hackers and is a secure way to act as ledger to keep records of virtual assets and transactions, which is why in the metaverse, most currencies are in the form of NFTs so it is accessible and convenient to users all across the world.

What are some Metaverse products? Get to know a true application of the metaverse: PARALAND

The metaverse includes of a lot of daily life applications of technology, and by combining AI, BCI and blockchain and integrate them into video games, taking PARALAND, Taiwan's first AR metaverse game as an example, players can create a character to their liking and contend for territories, complete missions and events, chat with other players, participate in team battles and experience what it's like to traverse in the virtual world whilst earning crypto from the reward system to implement play-to-earn!

For more information, please refer to PARALAND's Whitepaper

Metaverse Game Recommendation | PARALAND, traverse the virtual world!

I'm sure most of you have a basic understanding of the metaverse after reading this article, so you wanna jump into it? Why not check out PARALAND! PARALAND offers territory contentions, team battles, land expansion amongst other fun game modes! Explore the virtual world with your friends in AR and don't worry, there is no threshold to join, just simply download and start playing and start play-to-earn!

Join PARALAND on Discord now for the latest news!

Further Readings: Wanna earn an income from playing NFT games? PARALAND is offering Play-to-Earn!