INTRODUCTION 

There’s been a buzz about top multinational firms ‘entering’ into the metaverse. Among some of the biggest investors in the metaverse are Microsoft, Google, Facebook, Amazon, Unity, and NVIDIA. Just recently, The South Korean tech titan LG Electronics has announced that it will intensify its metaverse activities. And the firm claims that a new deal will allow it to bring Web3 and metaverse experiences to owners of its smart TVs. (https://cryptonews.com/news/lg-electronics-steps-up-smart-tv-metaverse-drive.htm).

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In 2022, companies have invested over $120 billion in metaverse technology and infrastructure. We know that companies tend to  invest in ventures that have a huge potential to generate profit. So,it follows that we should learn what ‘THE METAVERSE’ is all about, and why multinationals and other firms are embracing the metaverse.

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WHAT EXACTLY IS THE METAVERSE?

The term ‘metaverse’ was first coined in Neal Stephenson’s 1992 science fiction novel; ‘Snow-Crash’, which described a virtual world where users could interact with each other and digital objects in a shared space. As we can see with the ongoing technological revolution, the metaverse is all around us, and more tech companies and researchers are constantly researching on how to create immersive virtual worlds that blur the lines between the physical and digital space.

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The metaverse is often described as a combination of virtual reality (VR), augmented reality (AR), and other advanced technologies, and can be accessed through various devices such as computers, VR headsets, AR glasses,  and smartphones.

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METAVERSE TECHNOLOGY

As said earlier, the metaverse is based on the integration of augmented reality (AR) and virtual reality (VR) technology, and allows for interaction and engagement with digital products, virtual settings, and people. As a result, the Metaverse is a networked web of immersive and sociable multiuser platforms.

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The metaverse is a digital ecosystem built on various kinds of 3D technology, real-time collaboration software and blockchain-based decentralized finance tools. Let’s examine five layers of the metaverse technology that gives its users a seamless experience.

• Spatial Computing: This deals with the digitization of activities, objects, people, machines, and the environment in which they take place to optimize actions. This technology is what blends virtual reality with Augmented reality in the metaverse.
• Infrastructure: The metaverse uses 5G and 6G computing to boost network capacity and minimize network congestion.
• Experience: The Metaverse will provide us with a wealth of 3D visuals and 2D experiences that we cannot now enjoy.
• Creator Economy: Web application frameworks have made it easier to create web apps without coding. 
• Decentralization: blockchain and smart contracts provide producers access to their own data and goods.
  
  

FEATURES OF METAVERSE
Some of the top features of the used in metaverse include;

• Digital Avatars: People interact in this virtual space via avatar.  Avatars are a unique method to express oneself since they may be new inventions or recreations of your favorite pop culture figures, or an avatar can be clones of your actual physical representation. Users control their avatars using devices such as game controllers and motion sensors, which allow them to move around in the virtual space without having to physically travel there. Most platforms also offer voice chat that allows people to speak with their avatars.
• Decentralization: The metaverse is designed to be an open, shared reality in which users may effortlessly transfer platforms. Metaverse users may create and sell virtual experiences and things with monetary value without the need for a central authority via the use of blockchain technology.
• The use of hardware devices such as virtual reality headsets, a powerful laptop or desktop computer with a competent graphics card (minimum 4G), a fast processor (at least 3.5GHz for a CPU), and a robust internet connection, smart TVs, and phones, etc.

METAVERSE PLATFORMS
Metaverse platforms are usually immersive, interactive, and interoperable. They allow individuals and developers to create their own versions of the metaverse, accumulate rewards, and monetize their content or assets over time. Some top platforms you should know of include; 

• Decentraland, which is a web-based 3D virtual platform on the ethereum network. Players can buy and sell virtual lands, explore the Decentraland land map, attend events and even gamble at a casino with the $MANA token.
• Voxels, formerly known as Cryptovoxels, is also web based and can be experienced on any computer including mobile devices.Voxels is widely accessible and adopted. Users from around the globe buy and sell plots of land, objects and wearables with $ETH. They build, explore and attend events on the platform.
• The Sandbox is a metaverse platform that allows players to build, own, and monetize their gaming content on the Ethereum blockchain. It has its own ERC-20 utility token, $SAND, which serves as the vehicle that runs Sandbox transactions.
• Axie Infinity is a play-to-earn game. The gaming metaverse platform runs on the Ethereum blockchain and uses NFTs to represent specific characters, land plots, and other in-game assets.
• Roblox is a multiplayer online platform. Both Children and adults can create and socialize in this immersive 3D world,
• Bloktopia: The skyscraper-themed metaverse development strategy by Bloktopia aims to give a platform for users to learn, meet new people, conduct commerce, and test out different vocations in a 21-story structure.
• Metahero combines real utility tokens with ultra-realistic 3D technology to produce virtual three-dimensional objects. These objects are used for gaming, profile pictures, social media, fashion, and other utilities within metaverse ecosystems.
  
  

USE CASES OF THE METAVERSE
The potential uses for the metaverse are vast. From entertainment and social interaction to education and business. For example,

• In the entertainment industry, the metaverse is used to create immersive gaming experiences where players can interact with each other and digital objects in a shared virtual space.
• In education, the metaverse could be used to create virtual classrooms and labs where students can learn and collaborate with each other and digital entities, also, during remote classes, the use of metaverse enhanced learning helps student learn quicker, remember information better, focus on their studies, and enjoy the process by delivering refreshing, interactive engagement techniques using augmented reality and virtual reality training.
• In business, the metaverse could be used for remote team collaboration, virtual product demonstrations, virtual conferences, trade shows, virtual book launches, etc.

Challenges observed with the Metaverse
The development of the metaverse is still in its early stages, and there are many challenges that need to be overcome. For example, creating a seamless and convincing virtual world that can be accessed by millions of users at the same time is a daunting task. Additionally, there are still concerns about security, privacy, and the potential negative effects of the immersive nature of the virtual world.

CONCLUSIONDespite the challenges, the metaverse is an exciting concept with the potential to revolutionize the way we interact with the digital world. As technology continues to advance, we may see the metaverse become a new frontier for human interaction, communication, and creativity.