In this next-level internet, people would perform almost anything they can do in reality. So, we can assume that metaverse would impact future industries, social activities and human interactions extensively. It's assured to be more secured by the big tech giants. However, speculations are still going on. Let's take a deeper look.

The origination of the metaverse concept

Metaverse is still in a conceptual state and the future of virtual reality. The word meta came from a Greek word that means 'beyond'.

In the 1992 novel Snow Crash, the author Neal Stephenson has imagined and mentioned this term metaverse, a computer-generated universe. It's the combination of two words meta and universe.

This currently non-existent virtual universe will be an immersive place where people could communicate, socialise or work together by making their avatars. Metaverse would be the next-gen internet and the expansion of visual reality to the virtual 3D environment.

Metaverse transformation of the existing companies

Metaverse magic is widely spreading. The social media giant Facebook became the pioneer company leading this technological transformation and changed its name to Meta - a metaverse aimed company.

In Oct 2021, the CEO of Facebook, Mark Zuckerberg, announced the breaking news of the brand name change at the annual developer conference named Connect 2021. As per the update, Meta will be the social media evolution where people can connect, grow their businesses, play games, do shopping, entertainment or anything they want, using the latest VR/AR technologies.

Microsoft is also a black horse in this new tech trend. For the last couple of years, they are also trying to implement metaverse in their latest innovations. Their latest creation can take an online meeting or video conference to its next advanced level with a sci-fi test.

It's called 'Mesh for Microsoft teams', an advanced version of 'Microsoft Teams' - the communication platform of Microsoft. It has a mixed-reality feature that permits people of different physical locations to collaborate and meet virtually by their holographic presence in real-time anywhere.

This solution made remote online meetings more personal, attractive and enjoyable. Mesh can be accessed using a smartphone.

Impact on human life

Our daily life is about to change with the fully fledged application of the metaverse soon. However, researchers got mixed feedback from people regarding it. The user experience of AR/VR devices could be captivating still it would also have a profound impact on society.

Remote working would reach its next level. People working online from home or any remote places can even meet their colleagues in metaverse virtually beyond their computer screen. Using VR technology, people can even experience virtual travel without being confined to a single space.

Collaboration and idea-sharing will be easier. New job opportunities will come up because of new technology.

Cryptocurrency and digital currency would likely become the essential transactional method. Blockchain technology would be the main factor of metaverse development.

The business operation will be quite different because of virtual 3D stores. The game industry will emerge and rise to the top.

Researchers also have found some potential risks involved in the metaverse implementation. The chances of addiction the VR/AR devices could separate people from their real-world at a large scale.

The stimulation of the 3D virtual world could easily make real-life unsatisfying in comparison. People can spend more time on metaverse using AR/VR devices and stay disconnected from their real-world tasks.

Cybersecurity issues are one of the biggest challenges in the metaverse. We have already seen a lot of cybercrime incidents on social media platforms and remote work environments so far.

As metaverse is an entirely virtual community, we can not avoid the chances of data theft or online security breaches.

Also, the hardware used for metaverse could be a concern. VR glasses are large and uncomfortable for wearing for a long time. They need to be smaller in size.

Policy

AR/VR technologies can provide enormous possibilities for research and user experience. However, we must be aware of the possible harm they may do. Online security must be the priority to implement metaverse fully.

Policymakers should think about data protection, online privacy, affordability and comfortability of the metaverse users. The threats are more diverse these days. People need to take precautions and stay safe.