The term “metaverse” first appeared in the 1992 science fiction novel “Snow Crash” by Neal Stephenson. The story is about a futuristic backdrop wherein humans to interact with each other and software agents as avatars in an internet-like and online-enabled virtual space. Stephenson specifically described this virtual space as the metaverse, and it represented his vision of the future evolution of the internet based on virtual reality technology.
Giants from the tech industry have set their eyes on the possibility of creating and implementing a three-dimensional virtual world for mass consumption. The first Metaverse Roadmap Summit held in May 2007 envisioned that the internet in 2016 would evolve into an all-encompassing digital playground that would immerse people in a myriad of highly accessible and on-demand digital information.
some of its tech giants who participated in the summit include Robert Scoble from Microsoft, former Sony Online Entertainment chief creative officer Raph Koster, Bob Moore of Xerox Palo Alto Research Center, and game developer Randy Farmer. The summit concluded four imagined scenarios of what the metaverse would be like or its most likely outcomes of augmented reality, lifelogging, virtual worlds, and mirror worlds.
Finally, In October 2021, Mark Zuckerberg announced that Facebook has changed its company name to Metaverse Platforms to steer away from being identified as a mere social media platform and represent its direction toward deploying its own version of the metaverse. The company envisions a hybrid of the current online social experiences that can be expanded into three dimensions or projected into the physical world. last century represented an era of mass production and the rise of the Internet, the 21st century may just be known for the creation and expansion of the virtual world or Metaverse, which promises to be more immersive, interactive, and collaborative than what the Internet has accomplished so far. Post-work routines like watching movies or social interactions with friends on smartphones now have alternatives in the virtual world without involving in the physical world. So tech companies are lining up to sell the devices that let consumers into this virtual world and control their experiences once they are inside it. Suddenly, building new things for the metaverse is offering the kind of fresh appeal that comes along only every so often in any industry. Google has been working on metaverse-related technology for years. Apple, arguably the biggest winner of the mobile boom, has its own devices in the works. Microsoft is putting a corporate spin on the metaverse, offering a headset to businesses and government agencies. Microsoft is putting a corporate spin on the metaverse, offering a headset to businesses and government agencies. Most companies now see that the metaverse is around the corner,” said Matthew Ball, a venture capitalist and a writer who has written extensively about this concept and the hype around it. One research firm estimates that the market for metaverse technologies including games, virtual reality headsets, and other emerging gadgets and online services topped $49 billion in 2020 and will grow by more than 40% each year.
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