The metaverse – currently one of the hottest topics in the field of technological innovations, it is all that Web 3.0 natives are talking about. While it may sound like a recently discovered niche, the metaverse was first coined in Neal Stephenson’s 1992 sci-fi novel; Snow Crash. As of writing, there is little consensus on what the metaverse encompases, but all the existing definitions agree that it is a virtual ecosystem built in parallel to the real world.
So, why is the metaverse suddenly a buzzword? A recent report by Citibank indicates that virtual worlds could present a $13 trillion opportunity by 2030. That said, the main reason why the metaverse has gained popularity is the idea existing inside computer systems while replicating real world activities such as online shopping, attending digital art exhibitions and hosting global events within a virtual space.
You might be wondering how the idea is different from the likes of Zoom and Google Meets; well, the metaverse concept is more advanced, users are not only able to communicate but also live in digital worlds as 3D animated avatars. For example, Decentraland (one of the leading metaverse platforms), allows interested investors to purchase land parcels where they can develop property or host Decentralized Applications (DApps).
Source : crypto.news/the-metaverse-presents-a-trillion-dollar-opportunity-for-the-next-era-of-technological-innovations/ by Adam Robertson - October 12, 2022