It used to be a movie fantasy, but recent breakthroughs in technology means that so many inventions has been unleashed to accompany same. One of the latest breakthroughs is the metaverse, the new digital evolution that is sweeping through the technological world.
Recently, Facebook filed a change of name to “Meta”, citing that Facebook doesn’t cover everything they do or plan to achieve in the nearest future. Since then, Meta has filed hundreds of Trademarks, patents and designs for their upcoming metaverse launch.
Facebook is not the only one betting on the importance metaverse will play in the future. China also seems to be leading in terms of Trademarks filings related to the metaverse. So, as it is, metaverse is going to change the world as you know it.
What is the Metaverse?
“In futurism and science fiction, the metaverse is a hypothetical iteration of the Internet as a single, universal and immersive virtual world that is facilitated by the use of virtual reality and augmented reality headsets. In colloquial use, a metaverse is a network of 3D virtual worlds focused on social connection.” ~ Wikipedia
So in a nutshell, the metaverse is like parallel universe to the physical world.
Here’s a good example of a metaverse you can easily understand. In the movie, “Ready Player One”, we were introduced to the metaverse as a fictional world in a game where normal humans can escape to by using computer generated avatars. The avatar is the digital version of you.
Therefore, this digital version of yourself can literally do anything you can do in real life but on a whole new level aided by virtual reality. So instead of going to a shop to buy something, you can immerse yourself in your digital avatar and directly visit the store in the virtual version of it, peruse through their goods and prices, then make your order accordingly.
Probably sounds too Sci-Fi to be real, but the reality is that you have been doing same already via e-commerce systems, video games and online accounts. Now, the only difference is that your digital avatar will take over.
• When is the Metaverse launching globally?
At the moment though, there is no one way to access the Metaverse. Since metaverse will require a single universal world that is interconnected like the Internet, Facebook cited that theirs will likely take 5-10yrs to be ready.
Meta CEO, Mark Zuckerberg predicted in the Connect Conference 2021 that the Metaverse “will be mainstream in 5-10 years.” Indeed, we can consider Meta’s VR app ‘Horizon Worlds’ as a crucial step towards the realisation of the metaverse.
• How many countries are currently working on Metaverse technology?
The top three countries that are heavily invested in the metaverse are USA, China and South Korea.
“As of December 2021, more than 700 Chinese companies have filed 11,376 applications for registration of the Metaverse trademark. And 99.99% of these are not available in 2020.”Source
On December 25, 2021, the government of Hainan Province, China, announced a partnership with NetEase to create a Metaverse industrial base. On December 30, 2021, the Chinese government of Shanghai included Metaverse in its industrial development plan.
On November 4, 2021, the Korean government released a “Five-Year Plan for the Metaverse City.” They also announced that $3.3 million will be invested to establish a Korean Metaverse platform called “Metaverse Seoul”.
From the foregoing, the metaverse is a foregone conclusion now. It’s a matter of when rather than if. How big of an impact to life as we know it will only be determined by time.
On February 28, 2022, TechCabal published an article stating that MTN has bought 144 plots of digital land in the Africarare metaverse “Ubuntuland” for an undisclosed sum.
The purchase apparently means that the biggest telecom organisation in the continent is the first African company to enter the metaverse, said TechCabal, citing an official statement released by MTN on their website.
NB- “Ubuntuland” is being developed by Africarare and Mann Made Media and will be open to public land sales later this year. Ubuntuland will showcase some of the best of African art, fashion, entertainment, sport, tech and creativity and will provide a platform for artists from across the continent to showcase their work. Africarare is the first South African metaverse, housing digital land with roots in the African continent. It sold out it’s debut Non-fungible token (NFT) art collection last year for about $50,000