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Facebook has been changed to the name meta, to change the future and way of the enterprise but also to create and advertise virtual world of the Metaverse. The Metaverse is also tied to the development of web 3.0 which is supposedly the future of the internet. It is the virtual world where concerts and sports events will able to host 50,000 people at the same time to view the events, the computing for it is still in development and is expected to be deployed and used soon. Cryptocurrencies within the world will be used to purchase goods like NFT’s that will be sold and virtual land within the world that you can own and fill with anything you like, from making a house to building a business empire, furthermore, because you will able to go through and navigate between different world within this Metaverse( for example go from ROBLOX to Fortnite) your good and tokens can be transformed into different weapons and tools so that you can compete within those chosen worlds and this is all through the lens of virtual reality.

Other amazing things you can do inside the Metaverse besides video games is build real business that will bring in currency worth something in the real world, you will also be able to interact with people in a bigger way than just text and audio, you will be able to be in the same room as them too. The London based company called sketch has recently launched a virtual collaboration call where designers will be able to work in the same room on a 3D design project (maybe this is where 3D printing will take be way more commonly used) meanwhile companies of big names such as stage 11 and snoop dog have worked together to create enterprises for selling good and services around the Metaverse.

Not all parts of the Metaverse require VR glasses although the ones that do tend to rely on it very heavily

Risks to Metaverse?

There are a few risks to the Metaverse that pose a risk to the idea as a whole and another which many lawyers saw coming. That is the legal battles that may take place concerning data protection, content licensing, intellectual ownership, property. Not only that but also over the security of cryptocurrency, an issue that is not new to people of the community.

But one risk that poses the most danger out of all is the competition between different companies wanting be “THE METAVERSE above all”. Facebook, Microsoft, and other smaller companies have fought to become the 1# virtual reality that people come back to the most. Funnily enough the winner may be a “strong” winner who will have access to the different platforms and as a result the division could affect the connectivity of the idea will be affected, contributing to a lack of interest and decline of customers to the web 3.0 idea.