scorecardresearchMetaverse set to encompass an array of technologies ranging from blockchain to AI

Metaverse set to encompass an array of technologies ranging from blockchain to AI

Updated: 27 Apr 2022, 03:04 PM IST
TL;DR.

Meta, Facebook’s parent company, announced opening up of a retail store in California on May 9. The Meta Store is going to help people make that connection to how our products can be the gateway to the Metaverse in the future. 

Meta, Facebook’s parent company, announced opening up of a retail store in California on May 9.

Meta, Facebook’s parent company, announced opening up of a retail store in California on May 9.

Meta, Facebook’s parent company, announced opening up of a retail store in California on May 9. The retail store will store the company’s hardware products which would be used to access the immersive digital commercial space Metaverse. The store, located in the Meta Campus, will have the hardware products like Virtual Reality (VR) headsets, Video Communication displays and Smart Glasses and will also provide interactive demonstrations of these products.

“The Meta Store is going to help people make that connection to how our products can be the gateway to the Metaverse in the future,” said Martin Gilliard, the store head. “We’re not selling the Metaverse in our store, but hopefully people will come in and walk out knowing a little bit more about how our products will help connect them to it.”

The Metaverse is the imaginary immersive digital experience which has a large number of use cases ranging from commercial product display, meetings in the virtual reality aided with digital Avatars, dating services, various social events, entertainment like virtual music concerts, conferences, immersive training programs etc. all in the digital virtual space and providing a real-world experience digitally.

Powered with technologies like Natural Language Processing, Spatial Computing, Voice and Gesture Recognition, Multitasking UI, Geospatial mapping, Object Recognition, 3D engines, IOT, Data integration with Biometrics, Concurrent information streaming and real-time analytics and aided with hi-tech hardwares like VR Headsets, Smart Glasses, Wearables, Haptic, Gestures, Voice, Neural interfaces, Biosensors etc. is creating an amazing ecosystem catering to the various use cases like Games, Social interactions, Theatre, Shopping, Classrooms, Conferences, Dematerialized Physical Spaces, Sport etc and providing users an immersive digital experience.

As we use more and more of the digital space for the various things we do, we are witnessing a social trend which is increasingly becoming more digital and engrossing users with more digital time spent than physical. Internet penetration and smartphone availability has provided a boost in proliferation of this phenomenon. The Metaverse will build up on this and take it only deeper.

A large number of innovations are already taking place regarding the infrastructure buildup supporting this concept. Technologies like 5G internet, Wifi 6, Chips with faster processing speed upto 1.4nm etc are being developed and with their emergence, this space will just become better and better.

Very soon, the Metaverse and IoT powered commercial exploits would be executing a huge number of transactions between humans, between machines and humans and between smart machines at times too. A truly digital consensus based ledger system would form the core of the recording of such a huge volume of digital interactions and transactions.

High speed blockchain networks like Solana or Bitgert can be used to further support the commercial transactions in the Metaverse. With Samsung launching a Metaverse Store and Retail Giant Walmart expressing Metastore interests, this space remains an interesting watch regarding further development.

Ajoy Pathak is a Blockchain Evangelist with CryptoWire, a first port of call for entry into blockchain and cryptocurrencies. CryptoWire seeks to empower participants of the crypto universe with its super app and its research, training and information platforms like Crypto University, CryptoTV and CryptoWire.

 

First Published: 27 Apr 2022, 03:04 PM IST