- The metaverse is also known as the next iteration of the internet.
- To this day, there’s no fixed definition of this booming digital realm.
- It has already attracted organizations and celebrities across the globe.
Metaverse Definition Is Still A Problem
What a paradox we are trapped in. We all know what exactly this metaverse is, still, we are unable to explain it in words. To this date, there’s no generally accepted metaverse definition. Many have tried to explain the concept, and every time we hear it, we think Oh Yes! This is it, we finally found it. But then another entity emerges with a fresh concept that appears better than the previous.
The covid-19 pandemic showed the real potential of this space. It allowed people to interact and stay connected when the outside world was crawling with the deadly disease. Digital space eliminated the distance element during those harsh times. This indicates that a metaverse is a place for social interaction, where people can gather socially without having to present physically in front of others.
As this sector is growing, it is pulling out new activities and events that the space can host. Celebrities across the globe have entered the metaverse to conduct live shows. Travis Scott performed in Fortnite back in April 2020, Justin Beiber rocked the digital floor on the Wave platform in November 2021, and Snoop Dogg is nailing it with the SnoopVerse in The Sandbox game. Can we call it a place to organize virtual events?
Now businesses have started to make their way into the metaverse. Top brands like Prada, Gucci, Adidas, Burberry, and Louis Vuitton to name a few have already entered the space. They are attracting a plethora of crowds in the virtual worlds. Banks like JP Morgan Chase and Standard Chartered are also positioning themselves among others. Now, this points out towards a new venue for the companies to set up their business.
So How Do We Define It?
It is still an unanswerable question. All we know is that this is an unrealistic world where we can conduct realistic activities. Yes, we cannot take a bath, or eat a KFC bucket there, but sure we can explore through a Smithsonian Museum without having to leave for Washington D.C.
Anurag is working as a fundamental writer for The Coin Republic since 2021. He likes to exercise his curious muscles and research deep into a topic. Though he covers various aspects of the crypto industry, he is quite passionate about the Web3, NFTs, Gaming, and Metaverse, and envisions them as the future of the (digital) economy. A reader & writer at heart, he calls himself an “average guitar player” and a fun footballer.