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In times of economic uncertainty, you can find unique entrepreneurial ideas emerging in the metaverse, often driving industry innovation and opening up new opportunities for businesses and individuals alike. As the metaverse continues to expand, here are five trends that will shape the next 10 years:

 

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Anyone who has been paying attention, however, will have realized that these visions often differ greatly. While Meta focuses on creating virtual reality environments, companies like Microsoft and Nvidia are developing metaverse environments for collaborating and working on digital projects. At the same time, those who believe the future of the internet is decentralized and built on blockchain are experimenting with non-fungible tokens (NFTs) to enable ownership of digital assets and decentralized autonomous organizations (DAOs) designed to bring digital democracy to the virtual worlds we inhabit.

 

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The Register has reported from Gartner's Symposium event in Australia, where the intraverse was described as, "an interactive space that melds an intranet and a metaverse".

Gartner reportedly encouraged attendees to not "think of a metaverse as a single thing to build", but instead "a collection of techs such as augmented reality to be used as a training or collaboration environment, or a way to add AI avatars as a customer service option".

 

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The metaverse has drawn hype in recent months, with companies like Meta and Ralph Lauren rushing to get their foot in its virtual door.

But cybercrime in the real world is already becoming more rampant. Check Point, a cybersecurity firm, reported a 50% increase in overall attacks per week on corporate networks last year compared with 2020.
As businesses rush to plant their flag in the metaverse, not all may realize the full dangers of this new world, says Prabhu Ram, head of the industry intelligence group at CyberMedia Research.

 

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Will rival virtual worlds interconnect in a way that simply doesn't happen at the moment between competing technologies? Will we spend more time there than in the real world? Will we need entirely new rules to govern these new spaces?

None of these questions have answers yet, but that hasn't stopped a barrage of interest and hyperbole as firms see a new way of making money.

We've seen businesses opening in nascent metaverse worlds, from Meta's Horizon Worlds, to games such as Roblox and Fortnite, and newly created lands like Sandbox and Decentraland.

Meanwhile, Nike now sells virtual trainers, HSBC owns land in Sandbox, and Coca-Cola, Louis Vuitton and Sotheby's have presences in Decentraland.

The term metaverse was coined nearly 30 years ago by author Neal Stephenson. In his book Snow Crash, the hero finds a better life for himself in a virtual reality world.

 

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As a platform company, our approach to workplace productivity and collaboration is to ensure the software experiences we deliver can benefit users on all their favorite devices. In that spirit, today we are announcing several ways we are partnering with Meta to provide customers with more choice and security as they venture into the metaverse.

First, we are bringing Mesh for Microsoft Teams to Meta Quest devices. Mesh for Teams builds on years of research and Microsoft Cloud innovation, from Azure Digital Twins to Dynamics 365 Remote Assist and Teams video meetings. It is designed to help people gather virtually in the place where work happens on any device, including smartphones, laptops and mixed-reality headsets. Mesh for Teams with Meta Quest Pro and Meta Quest 2 devices will enable people to connect and collaborate as though they are together in person.

 

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THE TROUBLE WITH THE METAVERSE
Innovators are diving into a new and immersive virtual space, but with new technology comes new threats. We bring forward possible problematic issues that metaverse pioneers should be wary of.

What is the metaverse?
Download Metaverse or Metaworse? Cybersecurity Threats Against the Internet of Experiences
Right now, there is no definitive answer. There are plenty of differing opinions about what the metaverse is and how it fits into the bigger picture of the internet. But the metaverse is still in the early days of development, and many companies are creating new technologies to carve out their nook in this immersive virtual landscape.

For now, we can define the metaverse as a cloud distributed, multi-vendor, immersive-interactive operating environment that users can access through different categories of connected devices (both static and mobile). It uses Web 2.0 and Web 3.0 technologies to provide an interactive layer on top of the existing Internet. As proposed, it is an open platform for working and playing inside an extended reality environment, and it will also be a communications layer for smart city devices.

However, given the changing circumstances, we fully expect our definition to evolve as the metaverse concept evolves. Of course, this uncertainty makes securing the environment much more complicated.

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Ari Meilich was an early pioneer in the metaverse by building Decentraland, along with Esteban Ordano and their team, the first decentralized virtual reality space in 2017. Through a $24 million initial coin offering, the proceeds went toward creating a unique virtual reality experience. The project enabled users to build a wide array of interactive experiences, ranging from playing video games to building cities and attending live events. 

Meilich could have been a Mark Zuckerberg and owned Decentraland. Instead, he took a brave and innovative approach. The ownership was more akin to a Kibbutz or commune, in which the collective society can own a piece. 

 

People may purchase empty land parcels within the Decentraland environment using MANA, the accepted cryptocurrency used for payments. Instead of going into the pockets of the owner of the site, the money is placed into the community’s account. As it's grown and people acquire land, there are peer-to-peer transactions, such as the recent purchase of space on Decentraland by Andrew Kiguel, CEO of Tokens.com for $2.5 million. As of January 2022, MANA is valued at around $2.96 with a market cap of over $5 billion.

 

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https://www.scoop.it/topic/21st-century-innovative-technologies-and-developments/?&tag=Coinbase

 

https://www.scoop.it/topic/21st-century-innovative-technologies-and-developments/?&tag=NFT

 

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