What is Metaverse? – We call it a hot topic with mammoth potential for business.

Let’s start with a scenario!

“Our Universe Is 838 And We’ve Designated Yours 616.”

Woah, you have travelled to the Multiverse!
This dialogue comes from the recent Marvel movie – Doctor Strange in the Multiverse of Madness. Somehow, the portals of the multiverse were opened, and new threats and challenges emerged for Dr Strange.

So, are you connecting the term multiverse with the metaverse? Though, they’re entirely different!

Just like the multiverse in Doctor Strange, Metaverse is an amazing invention on the Earth.

This theory has made a lot of buzz in the tech media, headlines, and so on. Along with that comes a lot of questions too!!

In fact, we’re flooded with questions from businesses around the globe. Hence, if you’re still trying to grasp metaverse meaning and how does the metaverse work. We’re here to give a perfect lay down on metaverse in various niches.

Strap in and get ready to navigate in the most promising world – Metaverse.

What is Metaverse? – The Metaverse Explained in Detail

The metaverse definition is a bit wily, fuzzy, and moulded as per people’s objectives. In short, there cannot be a general definition of the Metaverse.

There are a lot of articles which talk about the invention of the Metaverse. They claim metaverse was coined years ago in the novel Snow Crash by Neal Stephenson. Here, he quoted metaverse as a combination of digital aspects that builds a parallel universe to the real world.

Seems difficult to understand?

Hold on! We’ve made it easy and simple for you to understand.

We will start with separating the term “meta” and “verse”. Here the term meta refers to itself while verse defines the universe. It is a parallel universe that sets a unique experience for the users to travel in the virtual world wherein you spend their digital life.

These virtual worlds are accessible via computers, VR headsets, smartphones, and many more devices.

Let’s get into one more way of knowing what is metaverse according to Mathew Ball.

“When two technologies, the computer and the internet, first came together, they brought immense opportunities to seize the world. Think of a mobile phone with the internet being available all the time. Correspondingly, the metaverse is always present within a computer and inside the internet.”

He explains the metaverse in the form of a 3D model of the internet. The users can step into this 3D and interact with each other via various avatars.

We just tried to put the metaverse definition in the general form. In the next part, we’ll showcase what is metaverse in various niches.

Let’s begin with Metaverse Facebook. Though, before getting into how Metaverse works? Check out the statistics on Metaverse.

Statistics on Metaverse

How Does The Metaverse Work In Various Domains?

The metaverse is expected to be dominant in the upcoming times, and that is the reason why lots of businesses want to get into it. Remember, metaverse avatars are not just one type of experience. It will hit differently from every other industry.

Let’s make it more clear by starting with the metaverse Facebook (also known as Mark Zuckerberg Metaverse)

What is Facebook Metaverse?

What is Facebook Metaverse

“Humans Will Live in Metaverse Soon” – Mark Zuckerberg

This statement by him caused a stir among Facebook users across the global scale. He said that Facebook would go beyond the boundaries to build one of the best interconnected and maximalist experiences straight ahead of the sci-fi known as Metaverse.

Adding more to it, he also presented Facebook Metaverse as a successor of the mobile internet. Metaverse in Facebook will touch on the biggest themes leaving no sector untouched.

Parts of the meta version are visible now, however, the entire Facebook metaverse is a future vision.

Metaverse Real Estate

Metaverse Real Estate

What is metaverse and how does it work in real estate? – the question we’ve been asked 100 times.

Let us give you a glimpse of metaverse real estate.

We’ve already been experiencing virtual reality in real estate for a long time now. Thenceforth, the next goal they’re trying to achieve is metaverse in real estate.

But, what is metaverse in real estate? It is something like you can have parcels of land in the virtual world. It is one of the real estate trends in today’s time.

To give you a better understanding, these virtual lands are pixels and programmable spaces wherein you can play games, socialize, attend meetings, sell NFTs, enjoy concerts, and a lot more.

In short, you can even buy virtual land in the real estate metaverse. The big companies like PwC, JP Morgan, HSBC, Samsung, and superstars like Snoop Dog have already snapped up virtual lands to grow their businesses.

Seems interesting!

NFTs (Non-Fungible Tokens) in Metaverse

The NFT and Metaverse are the two most trending topics in today’s time.

Also, What is Metaverse & How to create an NFT marketplace? – the two most trending questions on Google.

Though, what happens when we combine NFTs with Metaverse. Let’s understand it with an example.

With apps like VRChat, a huge ground for communication is turned up for the people. However, these spaces can also serve as a fertile trading ground for NFTs. Nike has already started dipping its shoes into the metaverse by naming its virtual metaverse space “Nikeland”. With that, it has also acquired a studio (RTFKT) for developing NFTs products. As a matter of fact, we will see two concepts NFT and Metaverse merging in Nikeland.

On the other hand, VR is the best platform for viewing art pieces. For instance, many museums have already started locating their NFT artworks in metaverse spaces like Сryptovoxels (ruled by Ethereum Blockchain).

Hence, all of these show that the NFT metaverse will be a common ground in the near future.

Want to know more about what is NFT or how to create an NFT marketplace? Click on the link.

Retail in Metaverse

Metaverse in retail

Just like metaverse NFT, retail tenders a bunch of possibilities for enhancing customer experience, branding, and deepening allover engagement.

The retail industry had explained the metaverse as a collective and persistent cosmos that is built by stitching numerous virtual worlds. Hence, people in their avatar form can travel through various VR metaverse spaces for an amazing shopping experience.

This futuristic technology is combining a large amount of data from various technologies like AR, VR, XR, extensive use of AI, and so on. The virtual shopping experience in Metaverse will let the brand track each activity of their costumes and accordingly will provide better recommendations for their shopping.

Have you ever built an avatar in a virtual space for representing yourself? That’s really exciting to see yourself as an Avatar in the metaverse. Believe us! This is going to be the best experience of your life.

Metaverse Healthcare

Metaverse Healthcare

Technology is doing a tremendous job in the healthcare industry. It has made way for various impossible operations to succeed.

The next big thing we could expect here is metaverse healthcare. In short, the metaverse in healthcare enables us to expand traditional telemedicine with immense opportunities. With the healthcare metaverse, the doctors can virtually examine patients, and seamlessly diagnose the core reason for illness.

Also, the geographical boundaries won’t limit telehealthcare. For instance, patients in Australia could see specialists in the USA, and vice versa.

To put it short, the metaverse opens up tremendous opportunities for highly immersive healthcare.

Not just the ones mentioned above, there are a lot of fields being explored by the metaverse like,

  • Changes in Education, Teaching & Learning
  • Metaverse in Games
  • Travel Industry Transformations With Metaverse
  • Metaverse Crypto.

The Conclusion – What is Metaverse?

So, now you have knowledge about what is metaverse. Understand, it is a newly emerged sensation that will become a part of our daily routine.

The giant organizations have already started to try their hands on metaverse for the ultimate user experience and ROI.

Besides the paradox of defining the metaverse is upgrading your knowledge, and checking out how you can implement the same into your business. Metaverse will give a new vision to the tech field with immense possibilities.

Although, we’ll keep updating the article as and when something new comes into the action in the world of the metaverse. Till then, keep reading our articles, and get in touch with us for your queries!

FAQs on Metaverse

Metaverse is a new tech trend that is also known as the succession of the current web. It is a digital virtual space wherein you can buy virtual land, enjoy real-time games, entertainment, shopping, and a lot more. All you need here is digital headsets to enter the metaverse. Besides, Metaverse is built upon technologies like AI, AR, VR, and so on.

So, the Metaverse can be used for a lot of different things based on your industry domain. For instance, the Facebook metaverse is an entirely new concept by Mark Zuckerberg wherein users can socialize with their friends in different avatars inside the metaverse.

As explained, the metaverse is a parallel virtual space to the real world. And, the metaverse in crypto will be the advanced version of crypto. A lot of metaverse crypto projects have already started to make investments in shaping their metaverse.

Mahil Jasani

Article By

Mahil Jasani

Mahil Jasani began his career as a developer and progressed to become the COO of Excellent Webworld. He uses his technical experience to tackle any challenge that arises in any department, be it development, management, operations, or finance.