Metaverse Explained: The Rise

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Nowadays, more and more people around the world face disconnection from the society they are living in. In the past, books, movies, and the most recent gaming and social media, are all forms of escapism that people have emerged in their free time.

The introduction of living in a virtual goes back to the early 1980s, the term metaverse first (originally “meta” and “universe” ) appeared in the 1992 book, Snow Crash. Popular media from books, movies, and games like “The Matrix”, “ Ghost in the Shell, and “Ready Player One” helped usher in the appeal of living in a virtual world that is idle to human needs.

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Flash forward to the present, the word metaverse has become the hottest thing for investors and eager enthusiasts. However, the technology is not quite there yet. Let me explain. The metaverse is using a hardware device to interact with a virtual world.

One of the first commercial virtual reality was created by the famous game publisher, Nintendo, called the Virtual Boy. Released in 1995, it was the first gaming display of the stereoscopic 3D graphic. Unfortunately, the product was a complete flop where it failed to meet Nintendo’s sale expectation, and distribution ended by 1996. It released 22 games in its lifetime.

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The second popularized iteration is Second Life, an online multimedia platform that allows people to create virtual avatars of themselves to interact with a virtual world. It was launched in 2003. It was able to garner close to 1 million users. People were able to participate and socialize in mass online activities like build, creating, shopping, and trading virtual properties and services with other people.

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The modern evolution has been pioneered by Roblox, an online game platform and game creation tool that allows people to create games and experiences. Blockchain virtual reality experience, The Sandbox, took heavy inspiration from Roblox.

Last year, Facebook brought the conversation to a bigger stage with their announcement of rebranding the company to be called “Meta” and planning many of their future company efforts into building a metaverse where users can do everything from doing virtual meetings with their unique avatar, playing games to going on vacation.

The bell has been rung and the world has listened attentively with huge investment in many early metaverse projects. Virtual lands were some of the assets that raised the most value in sales. Even popular Play-to-Earn games like Axie Infinity added digital land to their experience to cash in with the craze.