Metaverse= physical+ AR+VR on shared digital spaces
Facebook has recently rebranded itself to Meta to get into metaverse vision. It is a broad term that ultimately refers to a shared vision of a virtual environment that can be accessed through the internet via VR and AR.
Metaverse and its layers
The metaverse is likened to role-playing games (RPG). It is the future of the internet but based on science fiction. Metaverse will likely to be a big thing in the future and might be as massive as the real world. There are seven layers of the metaverse. However, metaverse won't be a new thing for us; we are already experiencing it through avatars, gaming platforms, and games.
Metaverse business models
The metaverse business models and transactions will be carried through cryptocurrencies, nfts, intelligent contracts, and other standards. Hence blockchain would be the foundation of the metaverse. For metaverse to evolve and thrive, it must allow decentralization. This way, the digital items will have a lasting impact and value.
Components of metaverse
Internet- decentralized computers have multiple stakeholders and are not owned by a single entity.
Open standards have all multimedia types MD, PIXAR, and universal scene descriptions.
Open-ended programming languages-