Metaverse

Graphics Processing Units or GPUs are advanced computing resources tailored specifically for highly concurrent tasks such as artificial intelligence and 3D graphics rendering. The use of GPUs for rendering spatial environments alongside driving new innovations in machine intelligence will evolve as key highlights in the development of the metaverse. GPUs can very well be the basic enablers for the creation of the metaverse.

Human interface basically refers to the hardware you can use to connect to the metaverse. The most evident example of human interface hardware is the traditional computer screen or your smartphone screen. In addition, human interface technologies also include VR and augmented reality alongside newly emerging technologies such as brain-computer interfaces. Human interfaces are basically the gateway to the metaverse.

Immersive social is a collective term allocated to a specific type of experience in the metaverse tailored for achieving enhanced social interaction. In other words, you can also think of immersive social experiences as the immersive, real-time evolution of different social networks and interactions. Some of the notable examples of immersive social experiences refer to Rec Room and VRchat, that people can enjoy in Roblox.

Live Services refer to the internet-based software platforms which are generally cloud-based, tailored for enabling sophisticated communities and economies in online games and virtual worlds. You can find software for inventory management in virtual economies, online tournaments and events, social features, and regular updates. Live Services can offer many other features necessary for driving a wide range of metaverse experiences.

Low Code Platform clearly gives away its meaning, especially with the “low code” part. The low code platforms enable creators to develop applications without extensive knowledge of computing coding. Low code, as well as no-code platforms, have spurred an exponential rise in the number of individuals aspiring to create applications and experiences. Such platforms are crucial for the growth of metaverse by empowering creators and contributors.

Machine Intelligence or artificial intelligence or AI refers to a branch of computer science focused on infusing machines with intelligence. Machines are capable of using deep learning technologies to expand their capabilities in examples of image recognition, natural language interpretation, and autonomous vehicle driving. Machine intelligence is an essential aspect for the metaverse to create adaptive interfaces that respond to real-world behavior.

Modding refers to the process of creating “mods” or modifications in a virtual world or a game. Generally, developers create “mods” without any cost as creative projects. However, in some cases, the “mods” are actually put on sale as enhancements to the game. When mods are put on sale, modding can be a part of a creator economy in the concerned game or virtual world. The notable examples of modding are Counter-Strike and DOTA.

Network Effects points out the collection of different theories regarding the ways in which networks can grow in value. Metcalfe’s Law showcases how the value of a network grows as the square of the number of users. Reed’s Law states that large networks grow in value with lower adoption friction in subgroups. An understanding of network effects laws can help in perceiving the future direction of the metaverse.

Open Platforms basically point towards permissionless technology that can help creators develop applications or content without any restrictions. Developers can have the freedom to create applications with decentralized dependencies and complete ownership control. The scope of open platforms brings many decentralized public domain projects such as decentralized applications based on smart contracts.

OpenXR or WebAssembly (WASM) refers to the application programming interface or API specification used for delivering 3D, VR, and AR software. It is basically a royalty-free API standard that offers engines with native access to a wide range of devices in the domain of mixed reality. OpenXR can help in building engines to target holographic devices as well as immersive VR devices such as headsets.

Play to Earn or P2E is a new economic model employed in different blockchain-based games, which facilitate the development of a virtual economy. Participants can earn virtual currency or assets by playing the game. All the items and the currency in the Play to Earn games are a part of the virtual economy. Players can trade the items and currency among each other through decentralized marketplaces and by using NFTs.

Self-Sovereign Identity is a term depicting a special form of digital identity granted to a user with complete control and ownership of the identity. Any centralized authority could not take control of the Self-Sovereign Identity. Zero knowledge proofs enable self-sovereign identity owners to choose selective information disclosure for third-party applications. Many blockchain-based self-sovereign identity solutions are already under development.

Simulating Reality is a new and innovative trend in the world of technology that offers the ability for accurate simulation of the real world in computers or digital environments. The introduction of new technologies such as 3D engines, access to digital twins, and physics-based modeling tools such as ray tracing have spurred a massive growth of the trend. Simulations of reality can mirror the real world precisely in the metaverse

Smartglasses are basically augmented reality headsets combining different technologies to provide an immersive experience. They combine the speakers for audio, cameras for observing and recording the surrounding environment, and microphones for recording and responding to voice commands. In addition, smartglasses also have the features for projecting digital holograms in the view of the user’s physical space.

Spatial computing points out the technology approach for creating immersive experiences for humans in a computing environment. It involves the addition of computing in objects where you can find the spatial environment surrounding an individual. Spatial computing involves technologies to generate outputs, image recognition, and advanced user interfaces for synthesizing data from virtual worlds and geospatial information.

Telepresence is basically another name for digital teleportation, the ability to travel to remote physical locations through virtual reality and augmented reality technologies. The common examples of telepresence include live music concerts in virtual worlds, collaboration in virtual workspaces, and esports events. In the long term, telepresence would focus on applications in virtual tourism with the support of drones to visit remote locations.  

A virtual being, as the name clearly implies, is any character or entity in a virtual world or a game. The definition of virtual beings would encompass different characters and digital avatars under the control of a human user. In addition, the characters in the game, which are controlled by machine intelligence or the non-player characters, are also examples of virtual beings. Virtual beings are the essential building blocks of the metaverse.

Virtual currency is basically digital currency or a unit of account for certain aspects of a virtual economy. The example of gold players can win in online games such as World of Warcraft shows the use of virtual currency. Players can use the gold to purchase other virtual assets in the in-game economy. New blockchain-based environments and experiences offer virtual currency that can be traded within the platform and on decentralized exchanges.

Virtual economy refers to a system that can allow users to exert control over virtual currency and assets in a digital world or other metaverse domains. The examples of free-to-play games show the use of economies that help players earn some items through participation. On the other hand, such economies also include assets that users have to purchase with real money, thereby presenting different approaches for designing virtual economies.

Virtual item basically refers to any in-game object under the possession of a player in a game or any other metaverse experience. In most cases, users don’t exactly have ownership of virtual items. On the contrary, they have licenses for using the items in ways decided by the game or the virtual world. However, NFTs can help in proving the ownership of items alongside enabling the transfer of ownership of virtual items to other people. 

Virtual mainstreaming is an overall trend geared towards encouraging the adoption of digital identity and virtual assets as equivalents of physical identity and property. The growing involvement of the general public in online environments and experiences calls for exercising precise standards of digital identity and asset ownership. Virtual mainstreaming can empower new prospects for making virtual assets and digital identity more mainstream. 

Virtual worlds are persistent and sometimes shared environments that can help in empowering persistence and interaction among multiple people. The virtual worlds include non-graphical environments in bulletin board games and even in the MMORPGs with high-end graphics. Virtual worlds have their unique ecosystems with virtual economies, assets, and currencies alongside customization opportunities for creators.

WASM or WebAssembly is the open standard required for the delivery of binary executable code in web browsers. The main purpose of WASM is the creation of an open application environment running in parallel to the app store environments you can find on mobile phones. However, the focus would primarily turn towards standardized development and the freedom from a centralized walled garden, thereby adding flexibility.

Walled gardens are the specific domains in the metaverse where people can create content only according to specific rules, tools, and permissions. The different walled gardens have prominent advantages, and the tools are generally easy to use. However, the tools take a substantial share of the revenue garnered by creators. Many platforms developed in the web 2.0 trends are walled gardens with profound competition from open platforms.

Web 3 refers to the collection of design patterns, methods, and trends that would shape up the development of web-based applications. The main focus of the third generation of the internet would be on standards for using peer-to-peer or blockchain-based platforms for data storage. For example, a Web 3 wallet can serve as a browser plug-in for allowing users to access cryptocurrencies and engage with smart contracts.