Answering Your Metaverse Questions - 001

The "Metaverse" is vast & complicated, through this series we attempt to break it down & simplify it.

As an educator, business owner or consumer it's impossible to know the answer to every Metaverse question so you likely go to the internet to find the answer. Problem is if you're anything like us, a lot of your questions likely go un-answered or the answers you receive don't make any sense. With this series we scour the internet and our inbox for your Metaverse questions. From there we reference an eXpert to give you the answer you need and more importantly an answer that makes sense to you.

What is the Metaverse?

Although a lot of people think of the Metaverse as a gaming environment, the Metaverse is simply a universe beyond the physical world. Or in other words, a space where you can be entertained, work, socialize, learn and do anything else you want. Looking at it this way means the Metaverse basically already exists, just in the form of the internet. This is why you may hear people use the term Metaverse and Web3 interchangeably, because they are both just the next evolution of the internet.

Knowing that, the question becomes, what makes the Metaverse different from the internet we know today? At XpertVR we think it comes down to two main points. Decentralization and 3D interaction.

Decentralization is taking the power out of the hands of large organizations and giving it back to the people. Mainly this is happening through the advent of blockchain technology. This will allow for greater security, privacy, personal control and creativity in the Metaverse.

3D interaction will add a whole new medium beyond text, audio, video in the Metaverse. Meaning, whether you’re playing a game, learning a new skill or just hanging out with friends, you’ll be doing it in a much more natural way. For example you’ll be able to pick-up a virtual tool box and learn how to take apart an engine with hands, just like you would in the real world (but without the mess).

Obviously there is a lot going on behind the scenes of the Metaverse so if you want to learn more, here’s another article we wrote on the topic.

Does Facebook own the Metaverse?

Facebook currently manufacturers the most accessible VR headset for consumers and has rebranded to Meta to try and capture the Metaverse market. That said the Metaverse will be accessed through much more than VR, this will include augmented reality, the 2D screens of today and more, so they don’t own the hardware market.

Secondly, for the Metaverse to be what everyone dreams of and what we described above, it will need to bring together 1000’s of companies and billions of people. This can be seen if you look at the internet of the early 2000’s or the internet of today, they both offer so much that no one company could ever hope to provide it all. Same is true for the Metaverse or the next evolution of the Metaverse, there will be every services you can imagine and more available that Facebook can’t hope to provide it all.

Lastly, for that to happen and for the internet to evolve all of the companies and people using it will need open access to add what they want to create. This will only be possible if the Metaverse is open source and not owned by any one company.

Why should I care about the Metaverse?

Just like the internet has changed the world and everything we do over the past 30 or so years, the Metaverse will do the same in the coming 5-10 years. We know this because we have already gone through one internet evolution with Web2 or social media/platforms. We already had the internet before Web2 and it had already effected so much of our lives but there is no denying that Web2 kicked it up a notch. Web2 changed how/what content we consume daily, it allowed for more visual content, closer connection to those far away and so much more. Web3 or the Metaverse will just be that next evolution that everyone adopts and unfortunately if you don’t you will be left behind.

How do I get involved in the Metaverse?

The Metaverse is so new and will grow leaps and bounds beyond where it is today, over the coming years. Because of this there are opportunities for everyone.

If you’re entrepreneurial you could start a business in the space.

If you like to invest there are many opportunities to invest.

If you like socializing there are many communities you can contribute to.

If you want to research and set standards there are many groups to support.

If you’re creative there are many areas to support through your creativity.

Really there is something for everyone so just start chatting to people in the industry. We would suggest searching on Twitter, Discord and LinkedIn groups. But if you need help finding a specific place to start, shoot us a message!

How can I earn money in the Metaverse?

Similar to the question above, the Metaverse is currently seen as the new gold rush. This means there are all kinds of ways to make money in the Metaverse. Now you just need to decide whether you’re going to be digging for gold or supplying the shovels.

Here are a few examples:

Gain Game Development or 3D Art skills
Manage Metaverse communities
Invest in Metaverse related stocks/alternative investments
Build and design worlds inside of Metaverse platforms
Consult on Metaverse related technology
Create marketing campaigns using AR/VR/NFT’s

Should I buy land in the Metaverse?

The future “Metaverse” will allow you to build a school or anything else you can imagine without needing to buy land. Land in the Metaverse is unlimited so it will be free. The only reason to buy land is to be where the attention is. In other words, there will be central hubs and places in the Metaverse that are more visited than others. Having space there will cost you.

This makes sense for big brands, stores, or information desks to attract people. But for schools, office spaces, large activities and so many other things, you don’t need prime real estate.

So if you’re a school/something that doesn’t need prime real estate buying space in the Metaverse, buy the smallest piece of land you can to set up an information desk. Then build the biggest campus you can imagine on another platform for almost no cost. The two will soon be connected.

If you’re looking for free/cost-effective platforms ENGAGE XR Holdings Plc, Rec Room, Roblox, and AltspaceVR are great options but reach out if you’re looking for something specific! These platforms aren’t the Metaverse yet but soon they will intersect and become the Metaverse as a whole.

Will VR education ever replace traditional schooling, or is it just an enhancement that will supplement other forms of learning?

VR won’t replace traditional schooling but it will be the next evolution of education. Meaning that there will still be teachers, tests, and social events but there will be new ways to learn. For example, field trips to anywhere in the world or in time will be possible. The best education systems in the world will be available from anywhere. Tests will combine theory with realistic mock practices of how skills will be used in the real world. And so much more.

This will allow for people to easily pick up new skills no matter where they are in life. Then if they so please they will be able to get the newly learned skill certified by a specialist. Plus have access to more extensive training with top eXperts in the field.

A great example of how this has already been implemented is for helicopter pilot training in the European Union. With this Varjo VR headset set up you can now get fully certified to fly without ever leaving the ground!

What is the difference between metaverse and virtual reality?

Virtual Reality is the best tool to use to enter the Metaverse. Just like today a smartphone or computer is the best tool to use to access the internet. The metaverse is really just the next version of the internet so you will still be able to access it through your computer or phone. That said VR will continue to become more widely adopted and because VR is built for full immersion in the metaverse it will become the go to tool to access it.

Beyond VR, AR or Augmented Reality will be the other tool used to layer a portion of the Metaverse over the real world as you go about your day to day.

What is the differences between 3D cinema tech and virtual reality?

3D cinema is a theatre that uses effects to make a film pop out of the screen, adding an extra level of excitement to the movie. It’s a fun experience but you don’t have any control over the experience.

Virtual reality, on the other hand, is a world that you are completely immersed in. Everything you see you can touch and interact with. You have complete control over where you go, what you do, and how you experience the story you are in.

In other words, a 3D cinema is a more engaging way to watch a story from the sidelines. Whereas, VR makes you the main character in the story.

Is the Metaverse becoming mainstream?

Most definitely. The Metaverse is already a billion-dollar business for enterprise use cases. These use cases include everything from training and upskilling to product research and design. Aspect of the Metaverse and what can be done with Augmented Reality are even bridging into the real world, allowing doctors and pilots to view crucial data on the fly.

For consumers, Facebook was reported to have hit 10 million users by the end of 2021 and is forecasting 20 million more this year. 10 million users is the threshold that traditional gaming consoles have to meet for AAA game studios to be interested in producing content for your console.

Plus beyond Facebook many other companies are soon to be releasing hardware for the space. Which includes everything from small startups releasing VR accessories to Sony releasing their PSVR 2 that will be compatible with the PS5 (18 million sold in 2021).

That all said, it is safe to say VR is well on its way to becoming mainstream.