The metaverse: explained

Facebook, Microsoft, and other massive companies are racing to develop the futuristic digital space, and people around the world are beginning to buy real estate in it. However, what exactly is the metaverse, and what does its future hold as a way for people to connect with each other?



Facebook’s rebranded parent company, Meta, shares a glimpse of how the metaverse could serve as a host for virtual business meetings.

Does the idea of spending millions on a virtual house sound out of this world to you? Well, look no further than the metaverse, where homes are costing people six figures just for a spot in the virtual world.

Yes, you heard that right: millions of dollars for a house that is in a virtual world. Why all the hype you may ask? Let’s talk about the metaverse.

Recently becoming a hot topic for news outlets across the world, the metaverse first began to gain serious traction in recent months when Facebook’s parent company, formerly known as Facebook, Inc., rebranded itself as “Meta.” Now, the name is no coincidence, as a major aspect of the company’s rebranding centers around the metaverse.

On its website, Meta offers users insight about the virtual world, describing the metaverse and the company’s role by saying, “The metaverse is the next evolution of social connection. Our company’s vision is to help bring the metaverse to life, so we are changing our name to reflect our commitment to this future.”

Facebook’s Mark Zuckerberg even made an hour-and-seventeen-minute video covering how the company would be influential in the advancement of the metaverse.

Now, while you may be thinking that this is yet another example of massive advancements in technology, you might be surprised to learn that the metaverse is actually not all that new.

Sure, the hype has really been centered on it in recent months due to Meta’s involvement in it, but it has actually been around for quite some time now.

A great example of a type of metaverse that has been around for some time now is the video game Roblox.

In this game, users are able to play with friends and basically create any kind of game that they are interested in playing. People have created massive worlds, have designed tasks and missions, and many other things that make this game stand out from the rest.

Another example of a type of metaverse is the recent jump in virtual reality technology.

Although it may have been unheard of a decade ago to put on a headset and immerse yourself in a virtual world, VR technology has become mainstream in recent years, and it has given users the ability to step into an almost entirely new world.

Virtual reality headsets have become mainstream technology in recent years.
Virtual reality headsets have become mainstream technology in recent years.

The metaverse is supposed to be a virtual parallel to our own physical world, except it is also supposed to be the opposite at the same time.

In many ways, things you can do in the metaverse strongly resemble things that users can already do in the physical world.

Users of the metaverse create their own avatar and this avatar is basically a digital version of that person. With their respective avatars, users will be able to interact and communicate with each other and do many of the things that are already possible in the physical world.

You can go shopping and sell things to other users in the metaverse, choose a career, you can meet up with friends and go to a concert, you can purchase property (which we will get into in a bit), as well as many other things.

For many people, this idea is appealing. Let us pretend that there is a metaverse user who always wanted to be an astronaut. If someone were to create a replica of our solar system in the metaverse one day, that user would be able to live out their dream in a virtual world.

Its resemblance to the physical world does not stop there though.

In recent weeks, with what is perhaps the second most notable headline regarding the metaverse, news outlets began to report on the market for real estate in the metaverse. Yes, you heard that right.

Companies dedicated to selling land in the metaverse have begun to spring up, and the market to buy land in the virtual universe is growing. A virtual real estate investor is quickly becoming a real title, and recently, in one of the metaverses called The Sandbox, a land developer known as Republic Realm purchased virtual land for $4.3 million.

Celebrities are also getting in on the action. Paris Hilton launched a metaverse business in December in Roblox, and Snoop Dogg has also gotten into the game by developing his own world in the Sandbox metaverse.

This news of celebrities joining has brought attention from many fans, one of them paying $450K to be Snoop Dogg’s neighbor in the metaverse.

While all of this is interesting to say the least, many are raising their eyebrows at the futuristic new virtual world.

With all of this money going into developing the metaverse, what will happen if something goes wrong and all of it tanks? What if it does not pick up steam and people decide not to join? There are many questions regarding this new technology, and the rush to develop and advance the metaverse is concerning to some.

Additionally, the debate over whether technology is taking over our lives comes into effect heavily when it comes to the metaverse.

It is without a doubt that there is a massive epidemic when it comes to how humans have let technology rule over their lives in recent years, and social media, video games, streaming platforms, and cell phones are largely to blame for this.

The metaverse becoming mainstream would surely propel this, and knowing how much time humans already spend on technology, it is worrying to imagine how much time people would spend taking part in the metaverse.

The metaverse, while still in its early stages, is quickly rising to become the next big thing in the technological world, and with the advancements made in recent years when it comes to virtual spaces, one can only imagine what the future holds for metaverse, and in the end, the impact that it will have on society.