What is the Metaverse, exactly?

Summary

In this video, Matthew Ball, CEO of Epyllion, explores the emerging Metaverse, a transformative concept in computing and networking. He describes it as a fourth wave of technology, following the mainframe, personal computing, and mobile/cloud eras. Ball highlights the Metaverse as a massively-scaled, interoperable network of 3D virtual worlds, enabling synchronous, persistent experiences for unlimited users. While it won’t replace the internet, it will build upon it. Ball also discusses the technical complexities involved, including real-time rendering, interoperability, and continuity of data. The potential of the Metaverse spans education, healthcare, and urban planning, with forecasts suggesting its value could reach $6-13 trillion by the end of the decade.

Takeaways

• 😀 The Metaverse is a rapidly evolving concept, expected to reach a value of $6 to $13 trillion by the end of this decade.
• 😀 The Metaverse is not just virtual reality or video games but a new, integrated digital universe combining various technologies.
• 😀 The Metaverse is considered the fourth wave of computing, following the mainframe era, personal computing, and mobile/cloud technologies.
• 😀 The core of the Metaverse involves massively scaled, real-time 3D virtual worlds that are persistent, enabling continuous interaction and data sharing.
• 😀 Interoperability is crucial for the Metaverse, allowing different virtual worlds to communicate and share data seamlessly.
• 😀 Real-time rendering in the Metaverse allows for dynamic and interactive experiences, unlike static simulations such as Google Maps.
• 😀 The Metaverse will allow an effectively unlimited number of users to interact and coexist in shared experiences.
• 😀 Key components of the Metaverse include hardware (AR, VR), networking infrastructure, computing power, and virtual platforms.
• 😀 Applications of the Metaverse are already seen in fields like education, healthcare, military, and urban planning, enhancing real-world processes.
• 😀 To thrive, the Metaverse requires advancements in payment systems (blockchain), standards for interoperability, and management of user identities and data.
• 😀 The future of the Metaverse will have profound societal impacts, requiring consideration of ethics, data rights, and power dynamics to ensure its positive evolution.

Q & A

What is the Metaverse and why is it considered an important development?

The Metaverse is a massively-scaled, interoperable network of real-time rendered 3D virtual worlds that can be experienced synchronously and persistently by users. It is considered important because it represents the next evolution in computing and networking, offering a new way for people to interact, socialize, and work in immersive, digital environments.

How does the Metaverse differ from the current internet?

The Metaverse is not just an extension of the internet; it builds on it. While the internet is based on 2D interfaces, the Metaverse aims to provide 3D experiences that allow for more immersive interaction. It is not solely about immersive virtual reality or video games but is a broader concept that includes virtual worlds, augmented reality, and digital experiences.

What is meant by 'interoperability' in the context of the Metaverse?

Interoperability refers to the ability for different virtual worlds and digital platforms to interact and share data with one another. In the Metaverse, this means that assets, history, and interactions can persist across different experiences and platforms, allowing users to carry their identity and objects seamlessly between them.

What are some key technical elements required for the Metaverse to function?

The key technical elements include advanced hardware (e.g., AR/VR devices, sensors), high bandwidth networking, significant computing power, virtual platforms, interoperability standards, payment systems (e.g., blockchain), and content/identity services. These elements collectively enable the creation and smooth operation of interconnected 3D virtual worlds.

Why is persistence important in the Metaverse?

Persistence in the Metaverse ensures that the virtual world continues to evolve and retain information even when users log off. It means that actions, history, identity, and objects are remembered and carried forward across experiences, which contrasts with current video games where progress is often not retained once the session ends.

How is the concept of the Metaverse related to human evolution?

Humans evolved to interact with the physical world, not with 2D interfaces like computer screens. The Metaverse is seen as the next step in this evolution, offering 3D, immersive experiences that feel more natural for humans to interact with and learn from compared to current 2D technology.

What are some real-world examples where Metaverse-like technologies are already in use?

Real-world examples include the use of game engine technology in live surgeries at Johns Hopkins, military training simulations using Unreal Engine, airport operations at Hong Kong International using Unity Game Engine, and urban planning with graphics-based computing for simulating traffic and other factors.

What does Matthew Ball mean by the Metaverse being a 'parallel plane of existence'?

By 'parallel plane of existence,' Ball refers to the Metaverse as a separate, digital world where users can live, socialize, and interact in 3D-rendered spaces. It serves as an alternative to the physical world and offers a space where real-time and persistent experiences can occur.

Why is the Metaverse predicted to be a multi-trillion-dollar industry by the end of the decade?

The Metaverse is expected to generate significant economic value due to its potential to revolutionize how people interact, work, learn, and entertain themselves. With massive investments from large tech companies and its broad application in various industries, it is forecasted to be worth between $6 and $13 trillion by the end of the decade.

How can the Metaverse impact education and professional training?

The Metaverse can enhance education by offering immersive, interactive learning experiences. For example, students can simulate physical processes like volcanic eruptions or conduct real-time experiments. In professional training, technologies like virtual surgery or military simulations can provide hands-on practice in controlled, safe virtual environments.