Metaverse Explained in 60 secs! What is metaverse?
Know about metaverse in a minute!
Technically, a metaverse is a collective virtual shared space, created by the convergence of virtually enhanced physical and digital reality. For simplicity’s sake, think of a metaverse as the next iteration of the internet, which started as individual bulletin boards and independent online destinations. Eventually these destinations became sites on a virtual shared space — similar to how a metaverse will develop.
A metaverse is not device-independent, nor owned by a single vendor. It is an independent virtual economy, enabled by digital currencies and non-fungible tokens (NFTs).
As a combinatorial innovation, metaverses require multiple technologies and trends to function. Contributing trends include virtual reality (VR), augmented reality (AR), flexible work styles, head-mounted displays (HMDs), an AR cloud, the Internet of Things (IoT), 5G, artificial intelligence (AI) and spatial computing.
