Metaverse: All the Facts You Need to Know

The metaverse is a set of virtual spaces where you can create and explore with other people who aren’t in the same physical space as you. You’ll be able to hang out with friends, work, play, learn, shop, create, and more.

– Meta

It has been six months since Facebook rebranded as  “Meta” but most of us are still none the wiser what this actually means in a wider context. It is not merely a name change, but a step towards their goal: the implementation of the use of the metaverse in all aspects of our daily lives. A sure sign of the company’s growing ambitions to expand into other spheres, beyond social media. 

So, what exactly is the “Metaverse”?

The term “metaverse” has been thrown around a lot lately and is one of most ambiguous tech terms out there which is really saying something in our culture of buzzwords!

 The Collins English Dictionary defines the metaverse as a “proposed version of the internet that incorporates three-dimensional virtual environments”. That is to say that the metaverse currently doesn’t exist in the state it is intended to. It is vision for the future internet usage that is currently being built or worked towards. 

If we mentally replace the phrase metaverse with the well-known phrase “cyberspace”, the two are interchangeable and the two are both as vague as each other in terms of meaning. Everybody envisions their own way in which the metaverse will function but there are some basics which are agreed upon across the board. Firstly, the term does not refer to one type of technology or platform but rather a network of platforms and technologies that change the way we interact on a daily basis both in a social sphere and our workspace. 

Secondly, these technologies such as augmented reality, 3D holographic avatars, virtual reality and videos will come together to form 3D worlds that we can function every aspect of our lives in using our avatars. In these worlds we can buy digital assets, socialise with friends, and work your normal job. We can do everything we would want or need to do in these worlds from the comfort of our own living rooms. In a nutshell, the metaverse connects individuals virtually.

Additionally, the worlds will continue to exist as a real time space even when you have “left” the virtual reality. Pocket of such worlds exist in online role playing universes such as Fortnite or Minecraft but the vison is to have one large world where all these spheres exist. If you have seen the movie “Ralph Breaks the Internet”, the illustration of the internet that it portrays is essentially what the metaverse eventually hopes to become. 

How are everyday businesses getting involved in the beginnings of the Metaverse?

Baby steps have already been taken by businesses to move into a digital metaverse sphere through a number of ways…

 …Think virtually trying on glasses at Specsavers or having virtual a dressing room in your pocket with apps such as Goodstyle. These allow you to try on products on their site (using an avatar of your likeness, usually using a photo you upload of yourself) and order the products in real life from the comfort of your own home. This is the start of what will become immersive shopping experiences. 

Furthermore, the bitcoin phenomena has brought cryptocurrencies to the forefront of the world with many businesses opting to accept bitcoin as payment. Even local non digital business such as bars have opted to accept the currency stating they “believe cryptocurrency is the future” of business, this is happening throughout the UK. The idea of a decentralised digital currency was once inconceivable but now is becoming a part of our daily lives, whether we are investing in crypto stocks or using cryptocurrencies to buy things online or in person at business that accept that form of payment. It is certainly an option to consider if you want to increase the accessibility of your business in the digital world and take that leap into what will eventually become the metaverse. 

And let’s not forget, social media! It is our expertise after all at Kernow Media . Social media provides a perfect platform for many metaverse business opportunities.

The metaverse can be an ideal place for immersive social media opportunities. Even now, we have platforms such as Clubhouse where you can link up with friends or network with people from all over the world who share the same business interests or hobbies as you and chat as though they are in the same room. Now imagine Clubhouse but within a 3D world with your own avatar, this is what the end goal is and the metaverse has the prerequisites to make this a reality. Other platforms such as Facebook, Instagram and TikTok are all working towards this and implanting different tools to make this a reality. On Facebook, for example, you can create “rooms” to chat with friends or colleagues. 

Social Media is the least expensive and most effective way to get your business taking that digital step and gearing up for the future, after all, it is already in our lives daily! If you want to know more about this, get in touch. We at Kernow Media can certainly help make this become a reality for your business and we have affordable packages to suit all business needs. Book a call today to find out more here.