With the dawn of a new day, a new technology comes into existence. Many of those techs won’t affect you but some make such an impact that changes the way we use technology.
On 9th January 2007, the world was introduced to the first smartphone by Apple inc that revolutionary day changed the way we use our phones today.
Metaverse can also be a technology that could change the way we use Virtual Reality. As Virtual Reality in itself is a jaw-dropping technology, now when it will be combined with this technology we can’t imagine what heights it can reach.
What is Metaverse?
Metaverse is an artificial world where people can explore and enjoy the world of Virtual Reality. This way It creates its own new world with all types of possibilities for a person to see into.
All these investments in Metaverse are made to get profit when the platform is fully functional. Metaverse also has the chance of being used for gaming purposes, many also say it would be a great platform to socialize with other people.
All these factors of Metaverse have attracted many companies to invest in it. Microsoft has invested more than $10 billion in Metaverse, Epic Games invested $1 billion into Metaverse.
What will power Metaverse?
To run such a whole new world you will need more than 1000 computers. The power required to host a fully 3D world is almost too much than one can calculate. All this power and also many other software tools, cloud technology, and other types of applications would be required to run Meta.
All this equipment and power will not only be focused only on basic Virtual Environments but more on user experience and mainly on gaming, entertainment, live shows, social interactions, and education.
The market value of Metaverse:
Many investors and companies have stated the market value of Metaverse could range from $1.7 trillion to $2 trillion. This amount may seem a joke to many of us but many companies actually believe in this and many have also invested billions into this.
No one can predict the real value of any company before its release but, we can estimate it for sure. And what has made people think of Metaverse as a company worth 2 trillion is the fact the company has many things to offer for most of the industries in the world right now.
Metaverse can host live shows and Entertainment which in itself has a market value of more than $2 trillion also the sectors like Gaming, Education, and Research are fields of more than billions of dollars.
Since all these fields are currently investing in this technology it has a chance of reaching a market cap of around $2 trillion.
Metaverse but at what cost?
Many might have not understood what I mean here so let’s understand it this way if we are going to make such a powerful system that almost can’t fit the whole world population in it as have no bounds the amount of pollution it would create would also have no limits.
The energy required to run this system is electrical energy and what is the source to get electricity?
The answer is coal, natural gas, and nuclear energy, all these ways of energy are quite harmful to the environment and can cause environmental disbalance. Burned coal and natural gas are the main problems of air pollution.
Similarly, the disposal of nuclear waste is not at all easy and the waste itself is very harmful. We are getting the future tech but at what cost?
Can Metaverse Fail?
Out of many possibilities, the most tragic way Metaverse could end or fail would be the sponsors taking their money out from this technology. This can turn the whole way we are seeing the future of Metaverse today.
Apart from sponsors taking their money out, handling such a big project is not a child’s play and many possible technical difficulties could take place while hosting such a big platform to the world.
Things like a server crash when too much traffic enters, and if things like this take place during a major event, that would not only affect the reputation of the company but also would cost the company a major sum of money.
Other than these difficulties there are not any other major problems that could possibly take place in this technology.
The idea of Metaverse is not new but is revolutionary and could change the way we think about how Virtual Reality works. Not only Virtual Reality but the way we use social media for interactions could change with the use of this tech.
Also not from the point of view of using Metaverse for Virtual Reality it can be a good platform for many people to invest. As the future has a very high chance of making Metaverse a multi-billion dollar platform.