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Metaverse Explained!

There is so much hype about Metaverse in the news. And Crypto 101 is here to solve it.

Metaverse is a publicly accessible virtual environment that mixes elements of social networking, online gaming, Augmented Reality (AR), Virtual Reality (VR), and cryptocurrency to enable virtual interactions between users. anybody can access it through the Internet.

It combines technologies such as Virtual Reality (VR) and Augmented Reality (AR) to create a sensation of “virtual presence.”

To enhance the user experience, augmented reality superimposes visual components, audio, and other sensory input over real-world situations. In comparison, virtual reality is completely fictitious and augments fictional experiences.

What Is the Difference Between Augmented Reality and Virtual Reality?

In augmented reality, visual components, sound, and other sensory cues are superimposed over a real-world environment to enhance the user experience. AR is accessed via a smartphone, and users have complete control over their physical presence in the actual world. By contrast, virtual reality is entirely virtual and augments fictional worlds. Virtual reality requires a headset device, and the system controls the user.

Origins of the Word

Neal Stephenson, a science fiction author, invented the term metaverse in his 1992 novel Snow Crash.

Back in the Headlines

The term reappeared in the headlines in mid-October 2021, when rumours began circling about a Facebook relaunch — complete with a new name — to reflect the company’s dedication to the metaverse.

Mark Zuckerberg says 

 “You’ll be able to do practically anything you can imagine in the metaverse—socialise with friends and family, work, learn, play, shop, and create—as well as wholly new experiences that don’t match our current conceptions of computers and phones… In the future, you will be able to quickly teleport as a hologram to your office without having to commute, to a performance with pals, or to your parents’ living room to catch up.”

Mark Zuckerberg, cofounder of Meta (formerly Facebook)

Next Step in the Evolution of Internet

The metaverse, according to its proponents, is the next step in the evolution of the Internet. Facebook, for example, has already spent extensively in augmented and virtual reality, building gear such as its Oculus VR headsets, and is developing augmented reality glasses and wristband technologies. 

The pandemic of COVID-19 heightened interest in the metaverse, as more people worked from home and attended school remotely. Naturally, there are concerns that the metaverse will exacerbate the ease with which individuals spend time apart—even in a post-COVID future.

India and Metaverse

Many people made the headlines like this couple when they announced that they would marry in the metaverse.

Moreover, Indian pop singer Daler Mahendi performed in a concert in the Metaverse on the occasion of India’s Republic Day Celebrations.

To know more about other fascinating concepts of Web3, check out the Crypto101 series by Coin Crunch India.

News recommendation: Non-Fungible Tokens (NFT) Explained!

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