Farewell term chaos, we give you the talk - from a to z

Industry jargon not your thing? Our glossary will enlighten you!

What is the metaverse?

The metaverse refers to a collectively virtually shared space that is created through the fusion of physically persistent virtual reality and digitally augmented physical space. It encompasses a comprehensive sum of all virtual worlds, augmented reality and the internet. The concept gained popularity through science fiction literature, particularly Neal Stephenson's novel "Snow Crash", published in 1992, and has become a central point of discussion in the technology and gaming community.

Key features of the Metaverse

  • Immersive virtual worlds: Users can immerse themselves in 3D worlds that are so realistic that they mimic physical reality or create fantastical environments that can only exist in the imagination.

  • Permanence: The metaverse runs continuously and exists independently of user access, much like the real world.

  • Interactivity and interconnectivity: It provides seamless interaction not only between users, but also between different digital platforms and virtual environments.

  • Economic systems: Within the metaverse, users can buy, sell and trade, often using their own currencies.

  • Accessibility: Access via a variety of devices, not only via specialized VR equipment, but also via PCs, gaming consoles, and mobile devices.

Development of the metaverse

The concept of the metaverse is developing in parallel with technological advances in the fields of virtual reality (VR), augmented reality (AR) and blockchain. Technology companies such as Facebook (now Meta Platforms Inc.), Google, Apple and Microsoft are investing heavily in these areas to lay the foundations for the metaverse. These developments include improved VR headsets, more realistic graphical representations and more stable and accessible online platforms.

Areas of application of the Metaverse

  • Social interaction: Platforms such as VRChat and Facebook Horizon allow users to interact in a fully immersive, interactive environment.

  • Education and training: Virtual realities offer new opportunities for distance learning and hands-on training in environments that are difficult to replicate in the real world.

  • Gaming: Video games are evolving into immersive virtual experiences with their own economies and extended multi-user dimensions.

  • Commercial services and retail: Companies could open virtual stores in the metaverse, offering users an immersive shopping experience.

  • Art and entertainment: Artists and performers can present their work in new, interactive formats that go beyond traditional media.

Challenges and criticism

With the development of the Metaverse also come challenges and concerns:

  • Data protection and security: how personal data can be protected and misuse avoided remains an open question.

  • Social isolation: Deep immersion in virtual worlds could lead to increased social isolation in the real world.

  • Economic disparity: Access to and the quality of metaverse experiences could depend heavily on personal or regional economic factors.

  • Regulation: The need to monitor and regulate virtual worlds raises complex legal issues.

FAQ

No, although gaming is a driving force for many technologies in the metaverse, the applications extend to many areas such as social networking, education, commerce and more.