Is Metaverse a boom or a bubble? 🙄 engineering
There is hardly a day that goes by without a mention of the metaverse. Since Facebook's brand name changed to Meta, the word has really caught on and everybody wants to be a part of it.
Mark Zuckerberg may have drawn the world's attention to the metaverse but the digital world has been on the rise for quite some time. Minecraft, an online game, has been around since 2011, where not only does one get to stay in a digital world but also has the tools to build it around themselves. With their versions of the metaverse, what Meta and the others now want to do, is build up these worlds rapidly, so that people can just come and spend their time in there.
Since the metaverse promises a host of things to do in a three-dimensional space, companies want to occupy prime properties in the metaverse to showcase their products and services, much like the Times Square in New York. As of now, there are limited places that have the potential to be Times Square of the metaverse and they belong to companies like The Sandbox, Decentraland, Cryptovoxels, and Somnium Space who own the real estate in their digital worlds.
Unlike the real world, the metaverse does not involve a commute time to a new destination. Teleporting to a new destination would just be a matter of a few seconds and people will leave one digital world for another when aSo, the next time you hear a compelling story about the metaverse, may be from Mark himself, take it with a pinch of salt.
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