WHAT IS THE METAVERSE?
All about the metaverse and how it works.
THE METAVERSE: ITS ORIGIN
The concept of the metaverse appeared in 1968 in the novel Simulacron 3 by Daniel F. Galouye. The word metaverse was later defined in 1973 in the film "The Virtual Samurai", released in 1992 and created by Neal Stephenson.
In concrete terms, a metaverse is a fictitious virtual world connected to the Internet and allowing a user to travel in virtual spaces and to exchange and share with other users.
HOW DOES THE METAVERSE WORK?
Although the term metaverse has been around for many years, it has only recently come into its own thanks to new technologies and the technological advances of recent years.
As explained above, the metaverse will be in a fictional world. Thus, the environment that will be proposed can be a true copy of real life but also a totally different world. It will be possible to interact with other users as in a video game and therefore to play and discuss with them. This is called immersion because all users will be immersed in a world that is different from the real one.
In concrete terms, to roughly illustrate the metaverse, we can take the example of video games where the player embodies a character with whom he or she can walk around and chat with other players.
WHAT ARE THE DIFFERENT TYPES OF METAVERSE?
A metaverse is possible thanks to augmented reality and virtual reality. Currently, many metaverse are developed without using one of these technologies as they are not developed enough.
Augmented reality allows you to superimpose virtual elements in a real environment thanks to connected glasses, smartphones or tablets. Thus, you can interact with real and virtual elements without being cut off from the world.
Virtual reality simulates the physical presence of a user in an environment artificially generated by software using specific hardware (virtual reality headsets). The person is therefore totally immersed in a different universe and no real elements are visible.
So there are two types of metaverse at the moment, but currently the augmented reality metaverse is more accessible to everyone.
WHAT IS A LAND?
A land is a virtual piece of land that is present in the metaverse. As in the real world, a land is sold in the form of plots and are sold and bought using crypto-currencies. So, in order to become a landowner to put your land into use and to earn income, you need to buy a land in the metaverse you want.
HOW WILL THE METAVERSE CHANGE MARKETING?
A metaverse can be a play, shopping or social space. Thus, it is very interesting for brands to position themselves in the metaverse. Indeed, it is a second world that is created in addition to the real world and that allows brands to offer content or sell their products in another way.
At the moment it's very hard to project into all this because the metaverse is not yet well developed. But in the future it is a place where most people will go and therefore it is a way to get closer to your target in a more creative way as everything is possible in a metaverse.
Many brands have already positioned themselves in the metaverse. Indeed, it is possible to differentiate oneself quickly by proposing either a metaverse of one's own, or buying lands in already existing metaverses or even creating avatars and accessories for users.
WHAT IS THE LINK BETWEEN THE METAVERSE AND NFT?
An NFT is a digital title that allows us to prove that content that is only available virtually is ours. Mainly used for avatars and artworks, NFTs actually represent any kind of content (music, video, GIFs, images etc.). For the moment, people can only invest and speculate, but later on NFTs will be very important in the metaverse. Indeed, they will be the best way to secure exchanges in the metaverse and will make it possible to personalise one's avatar, one's land or even to propose virtual experiences.
WHO ARE THE MAIN ACTORS?
The SandBox is one of the biggest players in the metaverse at the moment. It's a metaverse that allows you to build gameplays using tools provided by the game itself. When you create assets in The SandBox, you can turn them into NFTs to sell or trade.
The second main player in the metaverse is Decentraland, which offers players the opportunity to buy land to organise virtual events and social activities. Like The SandBox, each piece of real estate is an NFT that creates a game-specific economy.
Facebook, whose group has renamed itself Meta, has already developed a virtual reality metaverse: VR Horizon. It claims to be the biggest pioneer of metaverses and has already invested heavily in augmented and virtual reality.
More and more companies are starting to position themselves and invest in their own metaverse so as not to miss this opportunity.
A metaverse can look like anything! It depends on the theme and atmosphere that the creator of the metaverse has set up. Since it is a virtual environment, it is possible to create anything you want without worrying about the theory. Of course, there are some limits at the moment, as the development of this market is still in its infancy.
The metaverse will create new opportunities for brands but also for users. Indeed, from a social point of view, it will make exchanges between individuals easier and without having to actually travel. In addition to this, many metaverses want to offer virtual spaces to make knowledge more accessible and give rise to more pleasant and adaptable workspaces according to needs. For brands, this is an opportunity to take advantage of a new acquisition channel and to offer NFTs to enrich the metaverse.
When you are a brand. There are many ways to invest in the metaverse. It depends on the objective and the nature of the company. There are several ways to do this, such as creating NFTs, buying land to promote your brand later on (to do concerts or build a shop), buying advertising space or creating your own metaverse.
To buy lands in a metaverse, you first need to create a digital wallet to store your crypto-currencies. Then you need to go to a platform that offers land sales such as Decentraland or The SandBox to choose a land. For some time now, there has been a shortage of land, so you need to go to OpenSea to buy land from the owners who are selling it.
The metaverse allows many things to be done that are not possible in real life. It offers a certain freedom to the users on how to interact, and its avatar. A certain economy will be created in each metaverse which will make the metaverse very attractive.
The first difference between a video game and a metaverse is that there is no limit to the number of participants. Furthermore, the metaverse will be constantly evolving without you having to complete missions to unlock maps. The third difference is that a metaverse does not stop with games. Indeed, you can do many activities such as attending concerts or simply chatting with other users.