| March 11, 2022

Metaverse: Where We Are and Where We’re Headed

In recent times, the metaverse has dominated news headlines and conversations. Virtual reality allows users to play, work, and socialize in virtual environments, and many companies are taking advantage of it. The industry and technology of virtual reality currently face many challenges, though. In order to disrupt the way social networks have isolated people from the physical world, we at Flam, want to build a network of people who see the future as being about making and preserving real connections tangibly.

What is Metaverse?

It is important to avoid thinking of the metaverse as an entity, but instead as a series of overlapping virtual spaces. Metaverses will connect people, communities, create learning opportunities, gaming experiences, and much more. There will be virtual spaces that will let us experience more than in reality, enhanced and without physical boundaries.

Metaverse is in many ways such a development as the internet, which is a connected network. Nonetheless, it is important to recognize that many metaverse projects are still in the trial-and-error phases. As the metaverse’s true purpose is defined, we will observe successful projects and failures. There are several projects now blazing trails into the metaverse, and hopefully, we’ll soon be able to experience all its potential.

Where we are?

There has been a lot of talk about the metaverse from founders, investors, futurists, and executives, expounding on its potential for social connection, experimentation, entertainment, and profit, among other things.

Although the metaverse is becoming better understood, and more brands and individuals are learning how they can engage with it – we are not there yet. The infrastructure that could lead to metaverses is being built by some isolated companies.

The metaverse has the great advantage of offering no set boundaries on how each virtual world might look or how to access it. Currently, users access the metaverse through their avatars. While avatars and digital assets can be taken with you, they cannot be freely moved between metaverses or other worlds.

The metaverse will become more like a network of virtual worlds once it’s fully formed. In a fully immersive VR experience, you can move through the virtual world seamlessly, as you overcome the limitations of heavy headsets and glass screens. In addition, we anticipate that it will become a far more immersive experience in the future, blurring the boundaries between the real and the virtual world.

Where are we heading?

The metaverse is just at the beginning of its journey, and there’s a long way to go before we truly see what it can do. Despite the progress made, there is still much to be built, and there are many decisions yet to be made – including how it will interact with and be affected by real-world events, policies, and restrictions, and what exactly will it offer.

There will come a day when you can do nearly everything in the real world in the metaverse. You will be able to benefit from all the advantages of the virtual world – convenience, enhancement, everything at your fingertips, without physical barriers like geography – in addition to the ability to interact as deeply with others and the environment as you do in the real world.

There are already a few experiences that we can have in the meantime in the metaverse. For instance:

    • Entertainment: Everything from virtual concerts to weddings and socializing with friends.

    • Virtual Property: NFTs are becoming increasingly popular and people are interested in purchasing homes, land, events, space, and even yachts through them.

    • Gaming: Players who play play-to-earn games such as Nitro League and Axie Infinity are not only making friends but are also earning money as well.

    • Working: Immersive VR headsets are helping workplaces create virtual workspaces, where employees can collaborate with one another and new employees can be onboarded.

    • Learning: Using virtual reality and augmented reality platforms, virtual education is being reinvented through interactive and immersive experiences.

There will need to rule in the metaverse so that everyone is made to feel welcome and can enjoy everything it has to offer. We are entering a new space that hasn’t been explored before, so we need to make sure we take the proper steps.

Like anything else, technology can have repercussions as well. We might see scenarios in which data breaches become the norm, hundreds of thousands of hours could be spent on virtual worlds unsupervised, or worse, we might see deep fakes of ourselves doing unfathomable things in the metaverse. We might use technology for all good, but we’d need to follow strict regulations and standards.

It is undeniable that the metaverse will certainly become a ubiquitous part of our lives sooner rather than later. Since it’s in its infancy, the metaverse will require an array of relevant skills such as experience in AI, blockchain, cryptocurrency, AR/VR technologies, 3D design, and visual media.


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