An Introduction To Metaverse Ebook 2023
An Introduction To Metaverse Ebook 2023
AN INTRODUCTION TO
METAVERSE
INTRODUCTION
Technology constantly shows us how
important it is in our lives. As technology
continues to spread across a wide range of
domains with new innovative developments,
we are witnessing new solutions to age-old
problems.
Take for example the digital technologies
around us, we have smart homes, online
shopping platforms, and of course, social
media.
If you’ve been following the recent headlines in the tech landscape, you must have
come across the term metaverse.
The term might not seem new to everyone, as it has been featured in many science
fiction novels and films for decades, but nowadays it has become reality.
That is why many people have apprehensions regarding the metaverse being just
a marketing term for selling VR/AR gadgets.
However, the metaverse is more than we can imagine. The digital transformation
revolution started way back in 2011 when many processes and services started
shifting to the digital domain.
Nowadays, many items in the physical domain co-exist in the digital domain. For
example, you don’t have to visit a shop to purchase a book with online shops like
Amazon.
The change induced by the digital transformation revolution has come a long way
from its starting point to an extent where we can now think of a completely digital
world, which mirrors the real world.
Did the shift towards the digital domain establish the foundations for the
metaverse? There are many questions about the metaverse that need answers.
This eBook is a comprehensive guide on metaverse, it will help you understand its
underlying architecture, and different use cases.
You will also identify the specific traits that would make the metaverse experience
unique for all users. Most importantly, you will learn more about the metaverse
blockchain relationship and how DeFi and NFTs fit in the picture.
This eBook also dives into the value advantages of metaverse applications in
different use cases. Finally, the eBook will conclude with an overview of the
possibilities for the future of the metaverse.
© 2023 - 101 Blockchains. All rights reserved. This document may not be distributed, transmitted or reproduced in any form or by any means
without 101 Blockchains’ prior written permission. While the information contained herein have been obtained from sources believed to be
2 © 2023 101blockchains. All rights reserved
reliable, 101 Blockchains disclaims all warranties as to the completeness or accuracy. Although 101 Blockchains research may address
business, financial, investment and legal issues, 101 Blockchains does not provide any business, financial, legal or investment advice and this
document should not be construed or used as such. 101 Blockchain Shall not be responsible for any loss sustained by any person who relies
on this publication.
Metaverse
Table of contents
CHAPTER 1
DEFINING
METAVERSE
The best place to start in order to understand what is metaverse is to look up its
definition. However, there is a slight problem because there is no specific
definition of the metaverse.
The common definition for metaverse is that of a persistent and shared 3D virtual
space associated with an imaginary universe. In the simplest terms, you can think
of the metaverse as a 3D digital world with virtual spaces you can explore.
The virtual spaces in the metaverse allow users to shop for products, play games
or work with their colleagues.
It offers a flexible instrument to connect people all around the world together, and
the evolution of the internet has been an interesting journey. Think of the initial
days of the internet, almost three decades ago.
The internet has evolved a lot since then, hasn’t it? At the same time, the ways in
which people interact with the internet have also changed considerably. If you look
back at the evolution of the internet, you might get an idea of how the metaverse
is an inevitable phenomenon.
Then, the world witnessed the rise of creators with the web 2.0 as the internet
became more dynamic. Apart from offering content to users, the internet was now
a place where users could create content and share it themselves.
Now, the next stage in the evolution of the internet with web 3.0 has become quite
evident. With the help of web 3.0, users could now become a part of community-
owned virtual worlds like Decentraland.
What did you notice about the journey of evolution of the internet? The interactions
of users with the web alongside the mediums used for creating the interactions
changed considerably.
Decentralization, does it ring a bell? This might seem like a point to remember while
we discuss the metaverse blockchain interplay later in this eBook.
The arrival of web 2.0 changed how we accessed the internet, and businesses had
to change how they offered products and services. At the same time, web 2.0
advancements also imposed a formidable impact on politics and culture in many
ways.
The metaverse would offer the ideal platform for accessing the internet in a 3D
format. Will it? What are the chances for the metaverse right now? We can find the
answer only by reflecting on the market opportunity to develop the metaverse.
You can also understand more about the concept from Certified Metaverse
Professional (CMP) course.
CHAPTER 2
MARKET
OPPORTUNITIES
OF METAVERSE
There is no doubt that digital activities are hogging our attention like nothing else.
You are probably reading this eBook on a digital device connected to the internet.
We spend almost 8 hours every day on digital activities such as social media,
watching television, or playing games. People spending more time in the virtual
world want to spend more time on digital platforms to build their social status in
different online communities.
So, where will the metaverse intersect with the digital activities we participate in
now? The most prominent clue for answering this question is evident in the
convergence of gaming and our social lives.
Some estimates suggest that the revenue from different virtual gaming worlds can
showcase unprecedented levels of growth.
Well, there is no denying that a growth from $180 billion to $400 billion in only five
years (from 2020 to 2025) is a massive leap. Game developer monetization is also
emerging as a formidable dynamic in the intersection growth between gaming and
our social lives.
How can the growth of online gaming teach us about metaverse use cases and
their development?
A closer look at the design of many online games such as MMORPGs shows that
game developers and publishers exercise centralized control. Players can create
and trade in-game collectibles and assets within the game.
If the game shuts down, you lose all your in-game assets. The metaverse can solve
these issues by allowing users to take ownership of their in-game collectibles and
assets.
While gaming is a promising candidate for driving metaverse growth in the short
term, the opportunities extend far beyond gaming.
What will the metaverse technology look like, and how will it change the
experience of the web? You can find the answer by reflecting on the important
traits of the metaverse in the following chapter.
CHAPTER 3
ESSENTIAL
TRAITS OF THE
METAVERSE
As of now, you have gained a basic impression of the metaverse, what it will look
like, and the promising opportunities associated with it.
When you think of a metaverse, you will likely come up with images of an immersive
3D world where you can have life-like experiences. Now, what can help in
distinguishing the metaverse from any other virtual experience?
The distinct qualities of an immersive metaverse can provide the required support
necessary for creating the unique experience everyone wants. What are the
qualities that would make the metaverse unique?
Realism
Sight
Sound
Touch
Gestures
Ubiquity
Interoperability
Realism
The foremost trait required for developing different metaverse types is realism.
You feel involved with an experience only when it bears a sense of realism.
Sight
The next essential factor required for various metaverse examples emphasizes the
significance of sight. How can you engage with a world that you cannot see? The
evolution of virtual worlds has eliminated indirectness while enriching information
at par with the real world. Now, with the proficient use of real-time computer
graphics, graphics hardware, and algorithms, virtual worlds have come a long way
in terms of how they look.
You don’t find flat polygons as graphics rendering anymore, and virtual worlds are
built of smooth shading, programmable shaders, and texture mapping.
Touch
As you are speaking of immersive experiences with sight, sound, and realism in
the metaverse, it is also important to draw attention to touch.
Users need physical stimuli for interacting with objects in virtual environments.
One of the most common technologies that enable touch functionalities in virtual
worlds would be haptics, which basically converts virtual contacts into physical
contact.
Sound
Verbal communication is also another crucial highlight that you cannot undermine
among the essential metaverse design traits.
Just like the real world, you would need to speak and listen in the virtual worlds in
order to establish interactions. Verbal communication is an essential trait that
ensures the instant engagement of users with virtual worlds.
As a matter of fact, speaking and listening in virtual worlds like the metaverse drive
better engagement in users in comparison to reading virtual postures, movements,
and faces.
Therefore, the ambient sound will be a mandatory addition in the metaverse use
cases you will see in the future. Three-dimensional spatial sound and other
technologies such as binaural rendering can transform the perception of sound in
virtual worlds.
Ubiquity
The metaverse must be accessible to anyone without any restrictions. It should be
accessible from anywhere, and the rise of wearable technology provides adequate
support for the same.
At the same time, the metaverse features distinct identities for users in the virtual
world. Your identity in the virtual world would be a sum total of your virtual
presence, the content you create and share, and the assets you own and trade.
With the help of various virtual identities, users can access different content in the
metaverse spaces easily.
Interoperability
When you take a look at the existing state of the internet, you can find different
layers. You have different networks and subnetworks that facilitate interaction
among users.
In the real world, the identity of an individual travels along with them when they
move to different locations. People can transfer their assets from one location to
another in the real world without any prominent changes.
The metaverse design should also facilitate the same with the help of
interoperability. The trait of interoperability will not only allow a seamless
movement between different virtual spaces in the metaverse but also drive the
shift of many real-world operations, processes, and systems to the metaverse.
With the right standards and clearly defined layers of interoperability, the
metaverse can be the seamless virtual environment everyone desires.
The essential traits showcase promising opportunities for the growth of different
metaverse types in the future. However, it is also important to think of the possible
ways in which the metaverse can achieve all these features.
You will find some insights into the architecture of the metaverse in our Certified
Metaverse Professional (CMP) course also.
CHAPTER 4
METAVERSE
ARCHITECTURE
As described in the previous chapter, the metaverse needs realism, sight, sound,
touch, gestures and expressions, interoperability, and ubiquity to offer a truly
immersive experience.
Building a digital environment might seem like developing another web application
or software but it isn’t. There are many special aspects to consider when building
the metaverse.
The complex digital environment needs to feature some clearly outlined layers that
define various functionalities of the metaverse.
Infrastructure
First of all, you would need the infrastructure to build different metaverse types
according to your requirements. The infrastructure basically refers to the
connectivity technologies such as Wi-Fi, 5G, and advanced computing resources
such as GPUs.
Interface
How will users interact with the metaverse? The answer immediately draws us
towards the need for a human interface. You can find technologies such as VR
headsets, haptics, AR glasses, and other tools that make it possible to join virtual
experiences.
INFRASTRUCTURE
MEMS, Cloud, 5G, Wi-Fi, GPUs, CPUs
INTERFACE
Smart glass, Mobile devises, Gestures,
VR Headsets
DECENTRALIZATION
3D WORLD
CREATOR ECONOMY
DISCOVERY
Social Curation, Agents, Rating, Ad Networks
EXPERIENCE
Games, Esports, Shopping, Social Media,
Workspace
Decentralization
The emphasis on the metaverse blockchain interplay is a prominent aspect of the
basic vision for immersive 3D worlds. Users in the metaverse don’t have to be
under the control of any centralized entity.
Therefore, you can notice how blockchain has become an important aspect in the
metaverse design owing to its decentralization capabilities.
Apart from blockchain, AI, and edge computing, there are other tools that also play
a crucial role in shaping the democratization of the metaverse.
3D World
Spatial computing is the next vital component in the metaverse architecture for
obvious reasons. You cannot have 3D worlds without spatial computing
functionalities.
Creator Economy
Another significant aspect of metaverse development would focus on the
development of a creator economy. The metaverse should mirror the real world in
terms of the flexibility for trading the assets you own.
Creators should have the ability to get a certain value for their assets in the
metaverse.
How will the metaverse ensure this? The creator economy gives the answer to
such questions by bringing in a combination of various design tools, e-commerce
establishments, and digital assets.
Discovery
The metaverse is expected to shape up as a massive 3D world with various virtual
spaces.
One of the essential elements in metaverse design that can facilitate discovery
would be the content engine. The content engine can drive engagement by
integrating different components such as social media, reviews, ads, and ratings.
Experience
The final component in the design of the metaverse is probably the most important
factor defining the functionalities of the metaverse. If you dig deeper and
understand the metaverse, you can identify how it promises immersive
experiences.
On the other hand, many of you might assume that all of this might remain a vision
on paper only. However, you will soon put such assumptions to rest after you take
a look at the various metaverse examples popular right now.
CHAPTER 5
EXAMPLES OF
METAVERSE
Many big companies have already gauged the potential associated with metaverse
use cases for their competitive advantage. At the same time, many pioneers of
virtual world technology are also prominent candidates proving the potential of the
metaverse.
Before diving into a detailed account of the use cases you can find with metaverse,
let us reflect on a few metaverse examples to understand the technology.
Fortnite Concerts
The popular online game, Fortnite, is also another top entry among metaverse
examples that showcase how it will grow in the future. Even the CEO of Epic
Games, the company behind Fortnite, has suggested there is potential for the
game to evolve into something more.
Microsoft Mesh
Another top example to showcase the promising potential for metaverse
applications in the future is Microsoft Mesh.
The tool has emerged as a work-centric metaverse to connect all the popular
solutions of Microsoft in one platform. Microsoft Mesh can enable users to
capitalize on the services of Microsoft Windows, Teams, and the other solutions
through VR technologies.
Decentraland
If you remember, we had mentioned Decentraland earlier in this discussion. It is
probably one of the clear examples that show what the metaverse will look like.
Interestingly, Decentraland is probably the first solution that has explicitly
maintained a core focus on the metaverse.
It started in 2017 and has become one of the popular platforms propagating the
vision for metaverse development and growth.
However, the platform has gained momentum gradually and has marked an
interesting feat recently. Metaverse real estate auctions in Decentraland have
become a reality, and in one of the recent auctions, the platform accumulated $2.4
million in total sales.
The different real-world metaverse examples show that the concept can definitely
come out of paper one day and become a reality.
With the various metaverse projects under development right now, one cannot
help but wonder how they would support real-world use cases. The next chapter
dives into an outline of the different use cases that can make the most of the
immersive virtual worlds.
CHAPTER 6
USE CASES OF
METAVERSE
How can you use the metaverse to derive value? Well, for starters, you can point
out the metaverse blockchain relationship in order to present the benefit of
decentralization and accessibility.
Now, the actual agenda actually focuses on how you can use the traits and
components of the metaverse in real-world use cases.
Marketing
Among the many potential use cases of metaverse, one of the prominent entries
would be marketing. Virtual worlds are posited as comprehensively interactive
platforms for engaging users.
As more and more users join the metaverse spaces, brands can discover new ways
of attracting the attention of their target audience. For example, ads in metaverse
games have become a notable trend adopted by brands for marketing. With the
metaverse, we can look at completely new benchmarks and standards for
marketing.
However, the metaverse use cases for creating virtual spaces can also encourage
the development of virtual office spaces.
Users can feel like working in the same room as their other colleagues, albeit in a
virtual environment. The same can be applied to universities and educational
institutions to create shared learning spaces for students.
VIRTUAL
ART GALLERIES ENTERTAINMENT
TOURISM
Virtual Business
With almost everything in the real world shifting to the digital form in metaverse
types, you can easily think of possibilities for virtual businesses.
The metaverse can open up new opportunities for businesses to transform user
experiences. Rather than settling for the two-dimensional surface, businesses
could now engage with users in virtual 3D spaces.
Businesses can showcase their product specifications and service value in detail
with the help of interactive content.
At the same time, businesses can reach their customers easily in the metaverse
with almost all life-life experiences.
For example, you can see the ad of a brand on a billboard in a metaverse game just
like you would have seen on a real billboard. On the other side of the spectrum,
customers can enjoy the advantages of obtaining enriched information about
products and services.
The promising value advantages associated with various metaverse use cases
clear the path for many other new use cases in the future.
You would get not only the benefit of an immersive experience in 3D virtual worlds
but also the value of decentralization, ubiquity, and interoperability.
Is there any other possible way in which metaverse might become a dominant
technology trend? Let us find out in the next chapter.
CHAPTER 7
METAVERSE,
NFTS AND DEFI
Yes, you have read it right! NFTs and DeFi are also becoming vital components in
the metaverse ecosystem. You can identify the functionality of NFTs as the ideal
standard for validating ownership of assets in the metaverse.
At the same time, Metaverse and DeFi or MetaFi provides an open financial
framework that can start the creator economy running.
If you look closely, DeFi solutions are the decentralized versions of real-world
banking services.
So, it is definitely reasonable to allow the facility of such services in the metaverse
where things can shift easily from the physical world to virtual spaces. DeFi can
also set the foundations of an open NFT marketplace in the metaverse and give
way to many emerging use cases of metaverse technology.
Do you want to know how NFTs would fit in the whole metaverse equation? Let us
take the example of play-to-earn platforms such as The Sandbox. It is a virtual
metaverse that enables users to create virtual worlds and items.
What is the tool that supports the monetization of in-game experiences? The
answer lies in non-fungible tokens or NFTs and showcases the metaverse
blockchain connection clearly.
The virtual tokens minted on the blockchain represent the unique in-game
experiences and assets of Sandbox users.
As a result, they can ensure that the in-game assets and experiences are unique,
non-interchangeable, and indivisible.
As the most prominent crypto trends slated to dominate the future, NFTs, DeFi,
and the metaverse can work in unison to transform digital experiences. One could
also imagine a future with,
Learn more about the possibilities for strengthening the future roadmap for
metaverse technology in the next chapter.
CHAPTER 8
FUTURE OF
METAVERSE
The most prolific way to resolve the concerns and uncertainty regarding the
metaverse future is to find the support available for the metaverse. On paper, the
metaverse is an exciting concept and showcases promising potential.
The future roadmap for the metaverse would focus largely on the following
technologies. You can also learn more from our Certified Metaverse Professional
(CMP) course.
BLOCKCHAIN ARTIFICIAL
Can offer INTELLIGENCE
decentralized Can offer better
and distributed efficiency in data
ledger system processing and
for storing management.
value.
AR AND VR INTERNET OF
Can offer the THINGS
interface to Can help collect
connect with data from the
the metaverse. physical world
and send it to
virtual spaces.
Blockchain
The metaverse blockchain interplay would play a critical role in strengthening the
development of the metaverse. Blockchain can help in creating decentralized and
transparent solutions capable of offering digital proof of ownership,
interoperability, digital collectability, and value transfer. Most importantly,
cryptocurrencies based on blockchain are essential for serving as a medium of
exchange.
Users can enjoy the benefits of value transfer alongside exploring and interacting
with the 3D virtual spaces. For example, many popular applications such as
Decentraland employ native metaverse tokens to purchase virtual land and
participate in various in-game activities.
In addition, blockchain would also play a dominant role in the metaverse future,
where contributors to the metaverse receive incentives in cryptocurrencies. Such
possibilities showcase the prospects for new innovative approaches to shaping
the metaverse.
Artificial Intelligence
The applications of AI in metaverse development would introduce many prolific
advantages. For example, you can find better efficiency in data processing and
management.
At the same time, AI also serves as a vital tool for empowering non-playing
characters in metaverse games. Artificial Intelligence can also help in developing
more realistic digital avatars alongside making the user experiences in the
metaverse more dynamic.
AR and VR
The two terms Augmented Reality and Virtual Reality are mandatory for offering
the interface to connect with the metaverse. AR and VR serve the foundations for
immersive experiences desired in the metaverse.
The basic features of AR and VR provide an ideal example for the early
representations of the metaverse.
As the technologies continue to mature, they can redefine the digital experiences
of users in the metaverse. Most importantly, the hype around AR and VR
technologies, especially with big companies investing in metaverse through AR
and VR equipment, also presents vital prospects for future metaverse projects.
Internet of Things
Connecting everything in the metaverse just like in the real world brings one term
to mind. The Internet of Things has served as a productive tool for bridging the
gap between the physical world and the web.
It can also serve as a strong driving factor for future use cases of metaverse across
various sectors.
The Internet of Things (IoT) helps collect data from the physical world and send it
to virtual spaces. Therefore, it can be an important tool for improving the accuracy
of virtual representations of real-world objects.
In addition, IoT data feeds could also help in determining how objects would work
in the metaverse.
The advantage of IoT for the future roadmap of the metaverse is offering a
seamless connection of 3D virtual spaces to different real-world devices.
What’s Next?
Technological advancements have brought us a long way, and discussions about
the metaverse prove the same. The world is gearing up to embrace the virtual
worlds in the metaverse as a new iteration of the internet.
Rather than interacting with two-dimensional web pages, you can now access the
internet as a 3D virtual environment.
AR and VR devices such as headsets can help you enter the metaverse and access
the different spaces in the metaverse.
What are the spaces in the metaverse? Just like different solutions you find on the
web today, such as games, social media, entertainment platforms, and learning
portals, the virtual spaces would offer the same experiences.
You can interact with the spaces and switch seamlessly between different virtual
spaces in the metaverse with ease.
Imagine switching to your virtual workspace after viewing the product catalog in
the metaverse store of your favorite fashion brand.
A virtual environment with the traits of sight, realism, touch, sound, gestures, and
expressions, interoperability, and ubiquity is surely a thing we can expect in the
future.
At the same time, you can identify the clear structure needed for defining the
metaverse design with various essential components.
Most importantly, one could notice how the metaverse would connect blockchain
with NFTs and DeFi. The integration of these trends has the potential to transform
the digital experiences of users on a massive scale.
If you look at the existing state of the metaverse, it might look similar to the state
of the internet in its initial days. People were apprehensive about the internet and
had some reasonable doubts.
However, the continuous pursuit of excellence and efficiency has led to the
evolution of the internet across three decades. Who knows where the internet will
go from here? For the time being, all we can do is wonder about the amazing
prospects that will emerge out of the metaverse.
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