In recent years, we have heard the term “metaverse” a lot. The change of the famous Facebook company’s name to “Meta” has also been widely covered in the news, and the Metaverse is attracting a lot of attention as it will have a revolutionary impact on society in the future.
However, are there many people who don’t really understand the Metaverse, which has been covered so much? Therefore, in this article, we will explain the meaning and overview of the Metaverse, the benefits it brings, and its future development.
What is Metaverse?
First, let’s take a look at what the “metaverse” that is currently being talked about is.
A world created in virtual space on the Internet
Metaverse is a three-dimensional virtual space created on the Internet, and is a coined word that combines the words “meta” and “universe.” It was originally the name of a fictional virtual space service that appeared in the novel “Snow Crash” in 1992.
There are already some works that express the world of Metaverse, such as the manga “Sword Art Online”. This work is a story about a protagonist who logs into a virtual world called Sword Art Online (SAO), and is drawn into a quest by SAO’s game master that requires the player to clear the game before returning to the real world. In addition, the virtual world called OZ that appears in the movie “Summer Wars”, one of director Mamoru Hosoda’s works, is also called the Metaverse. AR and VR are technologies for creating virtual spaces.
Why is it attracting worldwide attention?
There are several reasons why the Metaverse is attracting so much attention, but the main reason is that it offers new business opportunities. Specifically, recent “blockchain” technology allows paintings and other items to be converted into NFTs and traded, and it is now possible to use both currency and virtual currency for such transactions. In other words, if it is possible to create a new world in virtual space that is different from the real world, it is attracting a lot of attention because it has the potential to generate a huge amount of money as a business. Another reason why it is attracting so much attention is that many of the world’s largest companies are entering the market.
Specific companies that have entered the market include Apple, Nike, Adidas, Microsoft, Marriott, Disney, and Samsung. Additionally, Japanese companies such as Sony, Panasonic, Lawson, and TV Asahi have entered the market.
Examples of how the metaverse is used
The Metaverse is currently attracting worldwide attention, but in what situations is it actually used? From here, we will explain examples of how the Metaverse is actually used.
online games
First,
online
games are an example of how the Metaverse is utilized.
Examples include “Fortnite,” “Minecraft,” “Animal Crossing: New Horizons,” and “Pokemon GO.” What these four games have in common is that you can communicate with others through avatars in virtual space, and you can buy and sell items. Online gaming has recently become an industry that is attracting a lot of attention due to the popularity of e-sports.
virtual event
“Virtual events” are events that allow activities similar to online games to take place in the real world. The Metaverse is also being used for virtual events, and specifically, it has become possible to experience things virtually that would only be possible if you were there, such as concerts and live performances.
In addition, the Japanese department store Mitsukoshi Isetan has begun rolling out a service called “
Virtual Isetan Shinjuku Store
.” This service is an experience where you can talk to store staff and other customers through
your avatar
, as if you were actually visiting the place. You can now purchase the products you actually want directly from the store’s e-commerce site.
business scene
Metaverse is also used in real-world business situations.
This is a virtual office called “Virtual Office”. You come to work with your avatar and conduct meetings and other communications and work with company members. It has become so powerful that it is possible to read the other person’s emotions from their facial expressions, gestures, and voice intonation through the avatar, even if you are not physically present.
Especially in recent years, online meetings,
telework
, and remote work have become mainstream. Due to the trend of the times, virtual offices are in high demand.
4 benefits of the metaverse
From here, I will explain the benefits of using the metaverse. The Metaverse is very useful, but what kind of benefits does it bring us?
You can communicate online just like you would in real life.
Unlike regular email, where you cannot see your face, in the Metaverse you can communicate with people there through avatars.
In fact, I think that in the past, it was often difficult to understand the intent of someone’s words because they couldn’t understand their emotions just by looking at the text, but since they can read facial expressions and body language while speaking through avatars, that problem has been solved. It can be said that it is resolved.
In addition, even people who are reluctant to talk to people, such as those who have complexes about their appearance or who are not good at talking to people they have just met, can talk directly to the avatar’s face and not their own in the virtual world. People also say that it allows them to interact with a variety of people.
Have an extraordinary experience
Metaverse is a virtual space that allows you to enter extraordinary worlds such as games and anime.
As I mentioned earlier, you can actually enter the world of games such as “Fortnite” and “Minecraft,” and you can also experience travel.
The virtual space of the Metaverse can create a realistic space similar to reality, or it can create an extraordinary space that cannot exist in reality. As technology advances further, it may become possible to create truly unimaginable services on the Metaverse.
You can experience events even in virtual space
It is also possible to hold special events and events within the virtual space of the Metaverse. An increasing number of companies are actually holding company meetings, year-end parties, events, real estate previews, etc. in virtual space.
There are other convenient things that can happen if you can hold an event in a virtual space.
For example, in the real world, you would have to spend money to rent a place for an event, but in a virtual space, you can basically prepare a place of your choice for free. Participants can also participate in a virtual space, so they can easily participate without incurring transportation costs. The Metaverse seems to be an opportunity to break down preconceived notions of what we have until now assumed to be common sense.
New business development
The biggest advantage of the Metaverse is that it offers many new business opportunities. In fact, virtual stores using the Metaverse and the buying and selling of painting data using NFT technology are already underway. In this way, travel, shopping, meetings, entertainment, etc. may all be conducted in virtual space.
In addition, an increasing number of companies are using the Metaverse to cut costs by turning their offices into virtual spaces, and to provide services related to virtual spaces. Development will continue to expand.
3 Disadvantages of Metaverse
Now that you know about the possibilities and charms of the Metaverse, I will also explain its disadvantages. Metaverse also has its disadvantages, but if you understand the disadvantages before using it, you can use Metaverse with peace of mind, so be sure to check carefully.
Risks of relying on the metaverse
With so much value currently available, there are concerns that many people may become too absorbed in virtual spaces. The ability to become immersed in many exciting and unrealistic experiences, such as the world of anime or games, has been cited as a cause of addiction.
There are also concerns that as the virtual world develops, we will have less time to communicate with the real world, leading to a vicious cycle of becoming even more dependent on the metaverse.
It costs a lot
As the number of people staying in a virtual space on the Internet increases, it can be predicted that huge costs will be incurred, such as the number of computers to manage and the electricity bill for the computers. Furthermore, considering that it is used by people all over the world and may run all day long, the cost issue of the Metaverse cannot be overlooked. In addition, in order to have a more realistic experience, you will also need a controller, VR goggles, a comfortable Wi-Fi environment, and a high-performance PC. Many users may feel that the cost is too high to purchase all of these items, as it is still far from a typical cost.
security issues
Naturally, as the number of users increases, you will have to pay close attention to security.
Until now, security issues caused by corporate information leaks have been brought up many times. Specifically, security issues that are feared within the Metaverse include spoofing, data tampering, information leaks, denial of service, which makes it impossible to receive services, and privilege escalation, which illegally steals and abuses administrator privileges. .
In the past, there have been problems in which “wallets”, which are wallets used within the Metaverse, have been hacked and large amounts of virtual currency have been lost.
What will happen to the Metaverse in the future?
The Metaverse has experienced an unusually rapid growth over the past few years, and there is no stopping it now.
The market size in 2020 was $478.7 billion, but it is said to grow to $783.3 billion by 2024. This is an abnormal growth rate with an average annual growth rate of 13.1%.
Reference:
CYBERNET AR/VR solution “Future prospects and usage examples of the Metaverse market”
More and more services that are attractive to users will appear in the future. The future may not be far away when more than ever before, everything is moving to virtual space, and we spend most of our lives in virtual space.
Currently, we only have a visual experience in a virtual space, but it is said that eventually we will be able to experience it using all five senses: sight, hearing, touch, smell, and taste. We must continue to keep an eye on trends in the Metaverse, which have the potential to have a major impact on the lives of society as a whole.
summary
In this article, we explained the meaning and overview of the Metaverse, the benefits it brings, and its future development. The Metaverse is still developing and we don’t know what will happen. However, one thing I can say without a doubt is that we are at a turning point. I think that the metaverse becoming commonplace in our lives may have both positive and negative effects. However, a wide variety of companies around the world see the Metaverse as an opportunity and are thinking of developing services that are attractive to users.
What we can do is to obtain as much information and knowledge about the Metaverse as possible and prepare ourselves to respond to the trends of the times. It is a good idea to take advantage of what you think is an opportunity or something that you think will be beneficial to you. Let’s take the era of the Metaverse as an opportunity and continue to pay attention to the Metaverse.