{"id":138613,"date":"2022-07-06T11:46:06","date_gmt":"2022-07-06T07:46:06","guid":{"rendered":"https:\/\/corporate.unioncoop.ae\/?p=138613"},"modified":"2023-07-11T09:48:53","modified_gmt":"2023-07-11T05:48:53","slug":"metaverse-the-new-universe","status":"publish","type":"post","link":"https:\/\/corporate.unioncoop.ae\/en\/metaverse-the-new-universe\/","title":{"rendered":"Metaverse \u2013 The New Universe!"},"content":{"rendered":"

What does it mean? <\/em><\/p>\n

Tech industry loves to make buzzwords trend and currently it is after the word \u2018Metaverse\u2019.<\/p>\n

The hype behind the term Metaverse started with Facebook rebranding itself as \u2018Meta\u2019 and followed by announcement from Microsoft about acquisition of \u2018Activision Blizzard\u2019 for USD 70 Billion and then Google also invested USD 39.5 Million into private equity funds for Metaverse. Why are they doing it? May be they know a thing or two more than we do? However, those of us who are into Sci-fi genre of movies or shows might have got the idea upon watching the vintage \u2018Johnny Quest\u2019 series or Ready Player 1.<\/p>\n

The concept is not perfect yet, but that has not stopped businesses to get involved as companies like Gucci, JP Morgan, HSBC, Coco cola are some firms that have dabbled with the concept until now.<\/p>\n

To be specific in explaining the term in a scientific manner, Metaverse is a version of internet as a universally single and virtually immersive world, which is backed by technologies of virtual reality (VR), augmented reality (AR), mixed reality (MR), extended reality (XR), multisensory extended reality, and simulated reality.<\/p>\n

To be more simplistic, Metaverse is a 3D virtual world network that focusses on establishing social connection. For instance, you plan to attend a wedding while not at all suited up, all you have to do is wear some device like a virtual reality headset within the comfort of your couch, chose your avatar and there you are.<\/p>\n

The concept is beyond just games now as Metaverse has blurred the lines between virtual and real as UAE recently saw the first Metaverse wedding as well. Check this<\/a> out!<\/p>\n

The unfortunate situation that the world faced with pandemic showed that we needed to change the definition of socializing and many of us realized the value of internet in facilitating our lives. The Digi-verse evolved into being an inherent part of our daily lives with people now moving towards their hand held devices for everything, rather than opening up their laptops. Now we have Metaverse!<\/p>\n

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Is it a game changer?<\/p>\n

Well, the things that they are doing with the technology of Metaverse are definitely a game changer. Physical convergence with digital world, Metaverse is what\u2019s next. Imagine watching your friend in a digital world where you cannot make out the difference if it is real or fake. Some games like fortnite and minecraft gave us a hint of how Metaverse is going to be. It gets more n more interesting. Axi infinity<\/a> reported that players were able to make a living using experience points n that\u2019s what people in Philippines did when they were not able to go to work. This was just the beginning. Of course, not all of us are gamers but what matters is the technological adaption to produce multiple possibilities.<\/p>\n

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How you game, eat and shop or even hang out with friends or even how you work! <\/em><\/p>\n

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Here are the possibilities that we know so far: –<\/p>\n

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