What is Metaverse?

Metaverse

Metaverse is a new place to interact with other humans and robots, play games, do business, socialize and shop. That is the future metaverse. Right now, Metaverse is a hodgepodge of hardware, software, and disparate experiences. You’ve probably seen parts of Metaverse in standalone forms, like games or training sessions. There is currently no connective tissue that holds all these components together.

If you’ve played Pokemon Go and caught a creature you can only see from your phone, it’s augmented reality (or location-based entertainment, if you want to be picky about it).

Facebook’s Horizon Workrooms are an example of mixed reality. You use the Oculus Quest 2 to join a virtual office space, but you can also see your hands and keyboard. In addition, colleagues who do not join the meeting through a VR headset can join the meeting through the video feed displayed in the virtual world, just like in a live meeting room.

One Horizon Studios virtual space can accommodate 16 people, and another 34 people can join via video conferencing With Virbela, the virtual office platform, you can navigate your office in the cloud with a full-body avatar from your keyboard. The platform uses directional sound, which means a person’s voice changes as he or she moves closer or further away from your avatar. The experience is not like a video game, but it feels like a new space to interact with colleagues.

If you’ve played Animal Crossing or Fortnite, these online worlds hint at what the Metaverse looks like. You will be able to build your world or visit the worlds of others in lifelike or completely new forms.

Corporate and military trainers are also using virtual and augmented reality for training. Penske Truck Leasing uses the XR Mentor training platform to train technicians and support them in the field. Instructors live-stream the lessons to students, who can use assisted reality devices to reference training documents while operating the vehicle.

It is possible to buy real estate in virtual worlds like Decentraland and Cryptovoxels, although these are certainly early adopter worlds. If you’ve bought cryptocurrencies or NFTs, you’ve also had a taste of Metaverse.

The difference between these experiences and the full metaverse is the physical sensation of being in another place and sharing it with others. For most of these experiences, you interact with the online world through a controller or other hardware. Although the VR world is immersive, the headset is still clumsy, which makes the whole experience unique.

Adam Compton, director of the strategy at Schneider Electric, sees Metaverse as a fully immersive, part real-life, part digital experience that runs in parallel with the physical world. “It’s something we can’t identify when we’re going in and out of the two spaces,” he said.

Mark Zuckerberg and other tech leaders imagine a very different metaverse when talking about it. The Metaverse, currently under development, will be close to reality and always on. It will have its currency, and objects in Metaverse will be interoperable – for example, you can wear a hoodie you bought in a corner of Metaverse in all the other places you visit.

Leaders and individuals around the world are starting to recognize the downsides of a large social experiment by a company, such as Facebook. It’s easy to imagine that the biases built into algorithms are also present in the Metaverse. Figuring out the ethics of AI would be a great training ground to ensure that everyone has equal access to Metaverse and is not automatically penalized for having a low bank account or slow internet.

Facebook announced a $50 million investment in September 2021 to avoid past mistakes in building Metaverse. The company will work with Howard University, Seoul National University, and Hong Kong University to study Metaverse’s safety, ethics, fairness, and design concepts.

What key technical terms do I need to know to understand Metaverse?

Some of these terms are used interchangeably. Some experiences mix versions of reality; Horizon Workrooms, for example, requires an Oculus Quest 2 headset to join virtual meetings, but colleagues can also join via video conferencing.

  • Assisted reality: This refers to any technology that allows people to view the screen and interact with it using hands-free controls. Realwear devices fall into this category.
  • Augmented reality: This technology takes the real world as a backdrop and adds computer-generated imagery to this view. Retailers can use it to showcase what a new sofa in a customer’s living room will look like.
  • Physical World (Meatspace): This is the physical world where most of us spend most of our time.
  • Mixed reality: This term describes a view of the real world with the addition of virtual objects that look and behave like real objects. Users can interact with virtual and real objects.
  • Multiverse: The general definition of this term usually refers to many different universes that operate independently of each other. In a tech/internet/social media context, this is Facebook, Minecraft, Instagram, Twitch, Roblox, Fortnite, Discord, and all the other virtual social media and gaming places where people socialize, play, and shop. In theory, the Metaverse could bring all these multiverses together in one place.
  • Virtual reality: This is an immersive experience that requires a headset. These include VR games that take users to different worlds and training sessions set in the real world.

Is Metaverse the same as virtual reality?

“Calling Metaverse virtual reality is like saying the mobile internet is an application.”

Venture capitalist Matthew Ball explained this in a conversation with The Washington Post’s Gene Park and Shanon Liao. Ball wrote a blog post about Metaverse in January 2020 as he saw the “fragments” of the Metaverse become more real. In June 2021, Ball expands his vision of Metaverse with a nine-part primer covering frameworks, hardware, networking, computers, virtual platforms, payments, content services, and evolving user behavior.

Ball originally wrote an article on Metaverse to explain why the last year or so was a turning point for virtual reality. He sees Fortnite’s world-building and the game’s growing popularity as important milestones for Metaverse.

“In 2018, you can start to see that it’s not a game, it’s something completely different,” he said. “It’s taking ideas that have been slowly growing for a long time, and then changing them in a way that feels very different.”

He likened these developments to the game-changing moment when the iPhone and the App Store represented the mobile internet. “You can see that the mobile internet that’s been around for 15 years is entering a new phase,” he said. “Fortnite is a lot to me, Roblox is a lot to me.”

Ball also pointed to recent comments from Epic Games CEO Tim Sweeney, who frequently tweets about Metaverse. Sweeney shares code from Unreal in the ’90s to illustrate how virtual spaces have been viewed as economical social spaces for decades.

“His point is that it’s only in the last few years that there has been experiencing putting it into practice, and that the core underlying technology needed is starting to become reality, not science fiction,” Ball said in a conversation with The Washington Post. Fiction.”

Using inconsistent definitions of the Metaverse to justify the idea that the idea is just the latest buzzword is wrong, Ball said.

“If Metaverse was clearly understood and codified, it would be less disruptive,” he said in a conversation with a Washington Post reporter. “Clarity is the antithesis of change.”

Do I need a headset to access Metaverse?

Ideally, at some point in the future, when the iteration comes, you won’t need a headset in Metaverse. In 2021, you’ll need an Oculus Quest 2, Rift, Sony PlayStation VR, or HTC Vive to play virtual reality games. If you need to take a virtual reality or augmented reality training session, you’ll need Microsoft’s HoloLens or one of Lenovo’s headsets. VRFocus named Magic Leap the Best Enterprise Solution in the 2020 Better-Than-Reality Awards for its spatial computing collaboration package. Magic Leap and VMWare just announced a partnership that includes support for the Workspace ONE XR Hub on Magic Leap 2.

When all the parts are ready, Gil Elbaz, CTO, and co-founder of Datagen predict that people will need AR glasses, not MacBook Pros or even phones. VR devices can replace TVs and computers. “It’s going to be a device, we’re just not technically ready,” he said, adding that it would take three to five years for the device to reach some level of maturity. “It’s a smart investment, but it’s also a long-term investment,” he said.

Facebook’s Reality Labs Research is working to improve the form factor of VR hardware. The team sees wristbands and glasses as an interface for AR that “doesn’t force us to choose between interacting with the device and interacting with the world around us.” The lab is also developing a VR headset that would allow other people in the room to see the user’s eyes.

Lenovo’s AR/VR product line includes smart glasses, monocular and binocular devices. The company’s ThinkReality platform includes a software development kit, cloud and device services, and Lenovo’s ThinkReality A3 smart glasses feature multiple cameras, integrated speakers and microphones, a binocular 1080p resolution display, and run voice, object and image recognition, read barcodes, and Includes software for head/eye-tracking. Factory and service technicians use the equipment during training and receive expert guidance while working in the field.

Is Metaverse related to my work?

If you are in charge of training or work in manufacturing, you will be one of the first to use the Metaverse building blocks. Manufacturing is the No. 1 vertical for Lenovo’s AR/VR product line, especially for companies that want hands-free assistance for field workers or warehouse personnel through augmented reality, according to Nathan Pettyjohn, head of commercial AR/VR at Lenovo’s Smart Devices Group.

“For industrial workers who need their hands free, they can use voice commands to pull up schematics and blueprints without touching the device,” he said.

Lenovo’s Think Reality A3 device is designed for mixed reality experiences, such as a technician using an online tutorial while repairing a machine. Smart glasses offer hands-free operation and can superimpose digital objects on physical objects.

“You can look at what you’re doing, the digital content is out of your field of view, but when you need it, you can go back to the guidance,” he said.

Lenovo also has a partnership with Realwear, which makes assistive reality devices designed for technical work. “It’s like putting an Android tablet in front of your eyes,” he said. “Plus, it’s an all-in-one device, so you’re not tethered to a calculator or phone.”

Lenovo’s goal with the ThinkReality platform is to provide hardware-agnostic services to all of the company’s AR/VR customers. “The software platform allows customers to manage Lenovo or third-party devices as well as applications and users,” he said.

Pettyjohn has been working in augmented and virtual reality for over 10 years. He is the founder and president of the AR/VR Association, which has 21 chapters in the United States, 4 chapters in Canada, 15 chapters in Europe, 7 chapters in Asia, 2 chapters in the Middle East, and there is one chapter each in Africa, South America, and South America. Australia. The group holds weekly online meetings and 22 committees covering 20 verticals, from energy and real estate to storytelling and location-based entertainment.

Pettyjohn said the AR/VR market has the potential to grow to more than $1 billion for Lenovo.

What is the connection between Metaverse and hybrid work?

As the debate over remote work, hybrid schedules, and in-person work intensifies, virtual reality and cloud-based offices could be a way to create a common experience for all employees, no matter where they are. Forrester’s recent report, “Virtual Offices in the Cloud, ” suggests that creating offices in a virtual environment could be a cure for Zoom fatigue. Benefits may include:

  • Replicate the in-person office experience.
  • Create shared experiences and reinforce corporate values.
  • Develop a shared culture.
  • End the open office plan vs. private office debate.

Companies old and new are already experimenting with such virtual spaces. Accenture has Level N, a virtual space that connects the company’s 500,000 employees and clients to virtual meeting rooms and event spaces.

Exp Realty is a remote-first company with approximately 60,000 agents in 17 countries, but no physical headquarters. Instead, the company operates in a “cloud-based campus” that does everything from recruiting agents to holding board meetings in virtual offices.

Which companies are building Metaverse?

Metaverse will require a vast technological infrastructure ranging from computing power to edge computing, 3D imaging, content, finance, and business systems. And, since Metaverse is seen as the next iteration of the Internet, every company with an Internet business also wants to have a place in Metaverse.

The ball is a venture capitalist interested in Metaverse and co-founder of Ball Metaverse Research Partners, which maintains the Roundhill Ball Metaverse ETF traded on the New York Stock Exchange. The top 10 stocks held on the exchange are:

  • Nvidia Corporation
  • Microsoft Corporation
  • Roblox Corporation
  • Facebook company
  • Unified Software Corporation
  • Snap, Inc.
  • Autodesk
  • Amazon Inc.
  • Tencent Holdings Limited
  • Sea Limited

Sea is a consumer internet company that includes entertainment, e-commerce, and digital financial services. Tencent Holdings is a multinational Internet company headquartered in China. Apple, Intel, Qualcomm, Alphabet, Coinbase, Electronic Arts, Samsung, Adobe, Alibaba, Disney, PayPal, and Square are also in the fund.

What are the actual use cases for Metaverse?

Training is one of the more common use cases. Entertainment was one of the first industries to offer virtual reality experiences to customers, while manufacturing and healthcare were among the first to offer mixed reality and augmented reality experiences to employees. Here are some examples of how some companies are using the building blocks of today’s Metaverse for remote training and the creation of new products and services.

Sports and Recreation

At game company Unity, Pete Moore is the head of sports and live entertainment and recently launched the Unity Metacast. The platform will reflect professional sports in 3D in real-time. Cameras capture athletes on the field and the data is used to create digital twins. The first 3D broadcast was a match between two mixed martial artists in a small arena with 106 cameras. Moore told the Financial Times he wanted to expand the technology to fewer cameras and larger gaming space. Capturing life actions and digitizing them instantly makes it easier to create NFTs from memorable moments in-game. Capturing live action and digitizing it instantly makes it easier to create NFTs from memorable moments in games. The NBA’s use of NFTs — top shot cards — can be extended to other sports.

Health care

Physicians were among the first to use AR for collaboration. Microsoft’s mixed reality headsets also enable medical professionals from around the world to collaborate virtually during 21st-century surgical procedures. Surgeons can operate Microsoft’s HoloLens with gestures and voice commands to bring up 3D images from scans, access patient data, and connect with other specialists. This hands-free controlled hardware is a major benefit for doctors and other healthcare professionals.

Training

NASA uses AR and VR on the space station to remotely control robots or assist in maintenance tasks through AR. In one specific project, astronaut Scott Kelly used a Microsoft HoloLens headset to train on the ISS and prepare for future missions. During these tests, a mission controller on Earth transmitted Kelly’s field of view through a headset and drew a 3D-rendered image on the astronaut’s HoloLens display.

Astronaut Scott Kelly wears a HoloLens headset on the International Space Station. What are the obstacles to the development of Metaverse?

Dagen’s Elbaz said it’s still early days for Metaverse because the software and devices aren’t ready, VR is still in the early stages of development, and AR isn’t even that far. “We haven’t found a useful application in-house, we’ve been dealing with 3D,” he said.

Games and entertainment will continue to be at the forefront of virtual experiences, said Adam Compton, director of the strategy at Schneider Electric. “Early adopters tend to find the easiest path and follow it, it gets people used to it, and then something else comes along for different applications of the same technology,” he said. He believes that learning of all kinds is the most applicable use case for VR right now. This includes learning how to use or repair a product, how to complete maintenance procedures, or simply learning a new skill. “It can be a differentiator for some companies because they’re going to sell you the product, but also make sure you’re using it right,” he said.

Compton sees the current workforce as an obstacle to the metaverse. Metaverse will require a lot of computing power, not to mention enough engineers, designers, and network administrators to keep it running. “The Wall Street Journal recently wrote that annual job postings for data center cloud engineers increased 90 percent in the last year, but they couldn’t fill the vacancies,” he said. “Without the manpower to standardize the infrastructure, design, deploy, and maintain it, that’s a huge challenge. will be a big gating factor.”

Another controlling factor is a robust edge computing infrastructure. Compton said that Metaverse will benefit from the smart city network. “Some cities are discussing placing high-bandwidth micro data centers in public spaces to enable smart city initiatives,” he said. “All of these things are happening now, which will help prepare this infrastructure for the future.”

Compton said the use of VR for training, customer service, and marketing is a good use case for companies that want to test the technology now. Compton said Schneider has used VR to tour modern data centers with 360-degree views and create other immersive experiences for customers. “I don’t see it going out of fringe uses, especially entertainment and gaming, in the next five years,”

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