Navigating the Metaverse: Unveiling Its Layers, Platforms, and Impact on Business

• Softsonix Team
• Feb 05, 2024
• 3 Min Read

Credit - Pixabay

You are not alone if you find yourself wondering about the concept of the metaverse. Even though it is not a completely new idea the metaverse has gained a lot of attention rapidly evolving and expanding its meaning. At the same time influential figures like celebrities and well-established brands like Nike are also incorporating the metaverse in their future strategies.

No doubt the term might sound unfamiliar, but Facebook has now been rebranded as meta. It has played a major role in propelling the metaverse into the spotlight. Being one of the pioneering force in social media, essentially an early iteration of the metaverse itself meta has undergone a major transformation. In this guide you can learn everything about metaverse and metaverse applications.

What exactly is metaverse

The metaverse is a virtual world where you, your business and digital platforms coexist and interact. It has gained a lot of attention. It basically includes virtual social and gaming platforms like Roblox and the world of non-fungible tokens. The metaverse is a realization of a long-standing science fiction dream. Despite appearing as a recent phenomenon, the idea of multi-platform digital world has existed for several years and of course social media.

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Why did Facebook rebrand to Meta?

In 2021-mark Zuckerberg's announcement of Facebook rebrand to meta signifies a shift from Facebook first approach to metaverse first strategy. With meta investing billions into metaverse development like VR headset business oculus and cryptocurrency the company is poised to shape the future of metaverse. While the outcomes of the metaverse are yet to unfold the major time and financial investment suggest a major impact.

Is the metaverse future of social media?

The influx of investments in the metaverse during 2021, especially from major players including Nike has sparked discussions about its potential as the future of social media. But the metaverse applications is still in early stages. Its staying power will be determined in the upcoming years. The metaverse presents a major space for exploration. It offers you unique opportunities for socializing business and investment.

What can you do in the metaverse?

• Meta's metaverse focuses on social interaction resembling a virtual platform for your networking. Platforms including Roblox exemplify this by providing a space for you to socialize, play games and even conduct business.
• Cryptocurrency and NFTs play a very important role in the metaverse financial landscape. Cryptocurrencies including bitcoins and Ethereum alongside NFTs offer you opportunities for investment and business transactions in the digital world.
• With the rise of digital currencies, you can also shop for both virtual and real-world items using cryptocurrency. Digital real estate represents virtual land and platforms including Roblox. You can have the ability to improve your avatars through shopping which contribute towards building identities within the metaverse. It is one of the best metaverse applications.

7 layers of the metaverse

• The dematerialization of physical space allows unique experiences within the digital world.
• Platforms, search engines and rating websites help you discover new platforms and technologies.
• Developers use different tools to create digital assets or experiences with ever evolving creative methods.
• Blending mixed reality, virtual reality and augmented reality for better 3D interactions.
• Blockchain ensures a decentralized system allowing scalable ecosystem for digital items and assets.
• The hardware layer integrates human computer interaction. It embodies you as a 3D avatar.
• The technology powering devices, network connections and content distribution featuring 5G networks are improving its capacity.

Examples of metaverse platforms

• Decentraland is a blockchain based virtual social environment. It allows the creation of trade and exploration of the virtual world.
• Sandbox is a 3D virtual world on the Ethereum blockchain. It supports interactions, creation and monetization.
• Meta horizon worlds is a meta-VR social app. It provides a virtual environment for socializing business meetings and exploration.

Key features of the metaverse

• You can create digital avatars for self-explanation. Metaverse applications also include introducing gamification in the virtual world.
• Blockchain ensures digital asset security and ownership within the metaverse will stop.
• Virtual land is also known as non-fungible tokens. You can purchase and use it for different purposes as metaverse applications.
• You can use augmented reality and virtual reality for immersive and authentic experiences.
• Artificial intelligence plays a very important role in content analysis, robotic interactions and different business applications within the metaverse.
• Decentralized autonomous organizations for governance are governed by blockchain and smart contracts. It allows decentralized decision making.
• Human computer interface technology facilitates user interaction within the metaverse. It helps in bridging different platforms and devices.
• Avatars and virtual presentations allow social interactions. It fosters a sense of community.

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Importance of the metaverse

• You can use the metaverse to provide immersive experiences to your customers as a business and gain a competitive edge.
• The metaverse applications offers better virtual events. It provides you with a more engaging and authentic experience.
• Virtual land and immersive experiences in the metaverse applications present novel advertising and sales options.
• The metaverse introduces amazing methods for brand storytelling and advertising.
• The metaverse improves remote teamwork by providing you a more immersive environment for communication.
• E-wallets and cryptocurrencies simplify transactions within the metaverse. It improves the ease of online financial activities.

In short, the metaverse represents a transformative force poised to reshape the digital world completely. As you prepare for the paradigm shift and embrace blockchain capabilities you must navigate the new era of internet as it is crucial for your success in the metaverse.