The great potential of the metaverse

Metaverse (virtual reality universe) is a hot keyword in the technology world. Big names like Meta, Microsoft or Google are looking to take the lead in the virtual reality space race, because of the expectation of the great potential of this market in the future.

What is Metaverse?

Metaverse is a parallel virtual world. Each of us participating can create our own avatar.

Virtual reality glasses are an important device. We put it on and begin to join the virtual world that appears before our eyes.

When stepping into the virtual universe, your avatar can participate in activities like in real life. For example, buying and selling land, attending seminars, events, even shopping for virtual goods and properties.

Sounds simple, but leading the metaverse isn’t easy. Typically the story of Meta, the parent company of the Facebook network.

The great potential of the metaverse

“Today we officially launched Horizon Worlds in France and Spain. We look forward to everyone coming to explore and build an immersive world,” Facebook boss Mark Zuckerberg excitedly shared on his personal page. multiplied a few days ago. Social network – a place where the community has been very frank when commenting on ugly and beautiful.

“Honestly, it looks a bit like an app for kids. I’m curious how your product will compete with more beautiful and surreal virtual reality software,” one social media user commented.

“Many artists have fainted when seeing this 3D image,” another user said.

“The Sims 1 game has better graphics,” another user commented.

In the photo, the avatar of Mark Zuckerberg stands in a barren landscape with miniature versions of several scenic spots in the background.

Faced with those merciless criticisms, even the boss of Facebook must be ashamed. Mark Zuckerberg had to correct that it was just a rudimentary photo posted to congratulate. Graphics in the Horizon virtual universe will be much better than that.

After 18 months, the metaverse virtual universe project has lost more than 10 billion USD. Last quarter, the virtual reality division of Meta lost nearly 3 billion USD, but the potential of the virtual reality market is undeniably huge.

According to McKinsey, in the first five months of this year alone, more than $120 billion was poured into building technologies and infrastructure for the virtual reality universe, twice as much as in 2021.

Microsoft, Apple and Google have also expressed interest in virtual reality. If the Internet has changed the lives of Generation X and Y, virtual reality is expected to appeal to Generation Z.

Choi Ji-Ung is an example. At his age, it is difficult to have money to buy land, buy a house and Mr. Choi decided to buy virtual land in virtual reality space. With 43,000 USD, he has in hand some real estate that simulates the expensive Gangnam area on a virtual platform.

“Since I bought it, my virtual land has increased in price by more than 40%. In real life, I never dreamed of owning Gangnam land,” said Choi Ji-Ung, actual user. virtual, said.

Next September, the 2022 global artificial intelligence conference will take place in Guangdong, China. The virtual reality universe (metaverse) will have an impressive appearance. Attendees can use the device to step into a virtual world where they can instantly set foot on the moon, or watch aliens walk around them.

According to a McKinsey expert, by 2030, the virtual reality space market is expected to reach $5 trillion, equal to the GDP of the whole of Japan.