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Understanding the concept of Metaverse
Virtual reality is a tool. It allows for infinite simulation.
For example, a consumer who experiences VR with a quality VR headset can completely immerse themselves in another world that is not limited by reality.
In the 1992 sci-fi classic, Snow Crash, author Neil Stephenson describes a virtual-reality-based successor to the internet. The 2011 novel Ready Player One popularised the concept where you can do anything, be anyone, and go anywhere regardless of real-life circumstances.
Computers, the internet, and smartphones give us that life on a two-dimensional screen. But in a three-dimensional Metaverse, we can experience all the world wide web has to offer in a natural user interface.
Just like it's difficult to imagine life now without your phone or the internet, the Metaverse will become an integral part of life. Anyone with a virtual reality headset will be able to experience the best of what life has to offer and be unbound by the laws of physics.
In the Metaverse, teams can sit around a virtual conference table, and friends can play billiards with a pool stick. Instead of watching YouTube videos to learn how to make lasagna, you will be able to practice with your friends or strangers.
“people come to the Oasis (or Metaverse) for all the things they can do, but they stay for all the things they can be: tall, beautiful, scary, a different sex, a different species, live action, cartoon, it’s all your call.”
The Metaverse may be more transformative to businesses than the internet has been. Companies will have entire teams dedicated to thinking about advertising, selling, or building a product within the Metaverse.
Entrepreneurs will have a platform to build products and services. Our children will go to VR universities and have jobs that don't exist yet, jobs related to the Metaverse. Overall, the Metaverse could be the largest market opportunity of the next few decades.
The Metaverse could be experienced in three stages.
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