Since its introduction in October 2021 by Mark Zuckerberg, the metaverse continues to make waves in several online communities. It is a glaring example of the impact of technology and its influence on our everyday lives. For instance, Facebook has been rebranded as Meta in anticipation of what the future holds for the metaverse.
Moreover, the metaverse marketplace, where people can easily trade NFTs and other digital commodities, is in full swing, confirming that DeFi and the metaverse are the future forms of ownership and cultural expression.
Despite the buzz around the metaverse, only a few individuals know its impact on our day-to-day existence.
Here’s how the metaverse will affect our everyday lives in the future, but first, what is the metaverse?
What is the metaverse?
The metaverse refers to the amalgamation of a wide range of formats that practically takes the best of every world when incorporating new concepts such as blockchain, online gaming, virtual reality, and augmented reality.
The metaverse allows you to interact with other users – and with digital content – in augmented and virtual realities using cryptocurrency as the currency of choice. Individuals within the metaverse will only be recognized via their respective avatars, which they personally create and are in control of.
A unique metaverse concept is a simple fact that it is not owned by a single vendor and is device-independent. As a result, several so-called ‘metaverses’ have emerged, controlled by private organizations. But these metaverses are simply virtual gaming arcades where people can readily explore and play their favorite games. They may have several things in common but differ from the real deal.
The primary aim of the metaverse is to bring together or merge physical and virtual worlds into one, which engenders future immersive digital experiences.
How the metaverse affects our lives in the future
Since the metaverse is still under development, several changes may affect our lives in the future. Here’s how the metaverse will affect lives in the future:
Many proponents believe the metaverse could be the #1 solution in the workplace. Remote workers no longer have to deal with isolation as the metaverse redefines the true meaning of ‘face-to-face.’ Employers can also take advantage of this technology to create digital workplaces that give room for employees to get to the workplace without commuting.
Employees can get in touch with their colleagues and managers/bosses in real-time while getting more involved in distanced and fruitful meetings.
Artificial intelligence (AI) will most likely come into play. For instance, some employees can create digital twins, choosing to send themselves to work whenever they need mental health or sick day. In addition, employees can utilize artificial intelligence to remain productive while needing some time off. In other words, it benefits both employers and workers.
The metaverse could significantly transform actual workplaces. For instance, some businesspeople envision their organizations as they work from the beach for a few days. A few others could send emails in space or take notes somewhere far away from civilization.
The possibilities for virtual offices – via the metaverse – are practically limitless. Asides from social interaction, the metaverse can help give workers a thrilling sense of adventure when coming to the workplace.
The medical field
The medical field would also be impacted by the metaverse and would be helpful for patients and physicians. Going virtual makes it possible for medical doctors to assist patients far away. This significantly improves physicians’ accessibility.
Healthcare providers will experience immense benefits such as:
- Advanced training options
- Better or improved patient outcomes
- Easier payment calculation
- Expanded revenue cycle management
- Straightforward patient monitoring
Each of these can immensely assist healthcare providers in providing a much higher level of treatment to their patients. Additionally, healthcare professionals could use the metaverse for simple record storage, digital payments, and considerably improved online care.
Some organizations – such as Amazon, Warby Parker, Apple, Dreamium Labs, Magic Leap, gaming organizations, etc. – have already started introducing metaverse technology. In addition, they have efficiently implemented several ways prospective and existing customers can try out new products without buying them yet.
Early adopters of augmented reality include:
- Sony Corp.
- Alphabet (Google Inc.)
- HP Inc., etc.
Other brands are transforming how their customers can earn rewards or items. People can even try on clothing using the metaverse, which engenders an interactive online shopping experience. They can also design unique avatars that match their exact bodies and try on new clothes virtually before paying for them.
The metaverse economy could become nearly as crucial as the real-world economy. Hence, the recent exponential increase or rise in interest in cryptocurrency and other related investment activities.
The values of cryptocurrency cannot be manipulated or controlled by a single entity, indicating nothing but a truly free market.
Several metaverse platforms have built their own economy on blockchain-based consensus and cryptocurrency ownership by using DAOs (decentralized autonomous organizations). This allows every individual to have a say in its day-to-day operations.
People using the metaverse can design their avatars, which include hairstyles, tattoos, makeup, and clothing. Moreover, since the metaverse gives users the ability to test or try out new things virtually, users become more comfortable doing these things in real life. In other words, people can use the metaverse to express their individualities through several creative activities.
As more people accept stylized avatars, they may become more accommodating outside the metaverse.
A new source of income
The metaverse – like with nearly every technology – allows users to make money by earning a steady flow of cryptocurrency. This originates from opportunities from metaverse jobs, play-to-earn games, XR services, XR business opportunities, etc.
This could result in the extinction of specific traditional jobs since users can make money legitimately using only an excellent internet connection.
The metaverse is more than a buzzword in the 21st century. The several ways the metaverse affects our lives have been highlighted above. Although actual human interaction is still essential, the metaverse is the ultimate way of creating better communication channels. In other words, the metaverse is set to transform lives everywhere.
One thing is sure – the future is bright with the metaverse.