Digital revolution: Metaverse to replace Zoom meetings, tech companies vying for investment

Posted on 22nd Nov 2021 by rohit kumar

One thing is on everyone's lips these days in California - the next war in Silicon Valley will be fought on the 'Metaverse'. Every major tech company believes that the Metaverse will change our virtual lives. Due to the spread of the virtual world from schools and offices to everywhere due to the Corona epidemic, this assessment seems correct.

 

Every major tech company has jumped into the race to invest in the metaverse. Facebook is probably at the top of the companies that have invested the most in the metaverse. A senior company employee said that Mark Zuckerberg has discussed the Metaverse the most in recent meetings with senior executives.

 

The Metaverse has been mentioned at least two dozen times in one-hour online meetings. Now, this idea is becoming most popular among start-ups, venture capitalists, and tech companies. Facebook's new name 'Meta' makes it clear where the company's focus is now.

 

Trying to create a space that...

Facebook experts say, simply put, the Metaverse is an exercise to create a space that is similar to the Internet, but instead of seeing everything on one screen, you can enter this world through your digital avatar and see other people. May we meet face to face in this world.

 

Today, due to the pandemic, meetings on Zoom or other similar online platforms have become a part of our lives. But now you can imagine that instead of watching someone talk on a boring screen, you can be part of a meeting via the Metaverse in a virtual conference room as the avatar of your choice.

 

This will make the meeting experience more realistic. You can talk to other people just like you would in a face-to-face meeting with your digital avatar. You can also customize this digital avatar according to your choice. It is a combination of your online activities and Virtual Reality (VR).

 

The term 'metaverse' was first used in 1992 in the novel 'Snow Crash'. You'll need a unique headset to connect to the Metaverse. Whatever activities you do or say while wearing the headset in the room of your home, your digital avatar will do the same thing in the Metaverse. People will also be able to share photos and presentations in these meetings on the virtual whiteboard.

 

Facebook changed its name and made it clear its focus

Mark Zuckerberg has said that the concept of Metaverse was forming in his mind since his school days. Now he has indicated that the focus of the company will be on the metaverse the most. By changing the name of Facebook to 'Meta', he has announced it in a way.

 

Facebook is about to launch the Horizon Workrooms app for those who own its product Oculus Quest-2 headset. The company had also launched such apps in the name of Oculus Rooms and Facebook Spaces in 2016 and 2017 but closed them in 2019. According to the employees of the company, the Horizon Workrooms app is currently being tested internally.

 

growing investment

According to Bloomberg Intelligence Wing, which works on future trends of news agency Bloomberg, $180 billion has been invested in Metaverse so far. In the coming time, this investment can increase to $ 800 billion. Morgan Stanley also estimates that the Metaverse market could be worth $8 trillion. Celebrities such as American rapper Snoop Dogg and Canadian producer Deadmao5 are also investing in the Metaverse. Microsoft CEO Satya Nadella has also announced his entry into the company's metaverse on social media. Sony, Nintendo, and Disney are also investing in the Metaverse.

 

However, Avi Barjeev, founder of Reality Prime, a firm that works as a consultant on technologies such as AR and VR, says it is important to understand the metaverse whether we are mentally and emotionally ready for it. Till now in the digital world, we are used to seeing each other on the screen and typing. At present, in this interface itself, we are facing many problems emotionally. The Metaverse will put us face to face in the digital world.

 

Jesse Alton, leader of Open Metaverse, a group developing open-source standards on the Metaverse, says online harassment in the Metaverse could be even more frightening. Users can also physically harm each other's digital avatars. Data privacy and misleading information can also present new challenges in this medium.