Virtual Reality: The Metaverse

We have all seen the concept of the metaverse in a variety of sci-fi movies such as Matrix or Ready Player One. If you have seen this movies you know more or less what I’m talking about, a digital universe that can be accessed through virtual reality.

If you think about today’s internet as a virtual two-dimensional (2D) space where you can produce and share content, create value and connect with anyone anywhere, then the metaverse may be thought of as a virtual three-dimensional (3D) space where you can do everything that you can do in today's internet while being fully immersed (through VR/AR) in that space exactly as you would be in the real world, but in a virtual realistic graphics-driven manner while being able to interact, connect, transact and create with others.

"The metaverse is portrayed in popular media as a fully immersive online realm that looks similar to the real world but is computer generated. People can flip back and forth between the physical and virtual world through VR headsets." (Vanian, Jonathan)

Simply put, existing in the metaverse is the equivalent of living inside the internet. This opens the possibility of the creation of a new world, a new economy and new possibilities. Recent market analysis has estimated that the metaverse market opportunity could be around $800 billion by 2024.

However, unlike the internet, the VR immersion would trick the human brain into releasing the same chemicals (endorphins, serotonin, dopamine) the same way as you would in the real world, which will make it more natural and more realistic for humans to inhabit than the internet. It's a virtual environment where you can interact with people in a digital space. It is going inside the internet instead of just looking at it!