The metaverse is still a nebulous concept, and no one knows how things will turn out. However, we do know that it is a large-scale endeavour with the potential to alter our lives forever. Many believe it could be completed in our lifetime.

Microsoft, for example, is already working on the “enterprise metaverse.” Then there’s Epic Games (the creators of Fortnite), who has pledged a billion dollars to realise their metaverse goals. Roblox, a gaming startup, bills itself as “the shepherds of the Metaverse.” They, too, are passionate about the concept. As a result, the Metaverse buzz is as real as it gets. Mark Zuckerberg, the CEO of Facebook, has been the most prominent proponent of metaverse so far.

“What is the metaverse?” he asked, explaining his viewpoint.

— “It’s a virtual world in which you may interact with individuals in virtual areas. You may think of it as an embodied internet that you can interact with instead of just gazing at.”

And, to be honest, it’s probably the greatest explanation we’ve come up with thus far. When you talk to your friends on the internet, you’re largely conversing on a surface level. You could be speaking with a friend and typing “LOL” without laughing aloud. Video calls are likely to be superior. However, the metaverse takes this concept to a whole new level.

Imagine being able to use an AR headset to log into a virtual universe and summon a friend to meet you in a virtual location. Your companion appears in the form of a virtual avatar along a tranquil waterfront. This isn’t a true waterfront. It’s only a computer simulation. However, in this metaverse, you can conceivably hear, feel, and interact with other aspects of the environment.

It’s a far-fetched dream, but one that many people feel could come true.

You’re undoubtedly wondering why someone would want to do this. After all, you might run into your pal in the real world. Speak with them. Interact with your surroundings by shaking their hand. Why are you doing all of this in a dystopian digital world?

Take, for example, Decentraland, a virtual environment that has been sweeping the actual world. Users can own land, develop it, and sell it inside this communal region if they like. A network of content servers hosts all of the game’s material (computers). You can also request to host a piece of this universe by making a request. The request is then sent to the DAO, where the player community can propose and vote on policy changes. You can choose who runs the content servers, what kinds of costumes are allowed, how land parcels are auctioned, and other community-related topics under this form of democracy. The game also has its cryptocurrency token, MANA, which is used in the game, and all transactions are recorded on a blockchain.

The point is that it’s already taking place. People are spending more time and money in virtual worlds, and companies like Facebook aren’t happy to be left behind. They aspire to be the rulers of the universe. Consider the power they’d have in an unregulated virtual environment devoid of both regulation and competition. It’d be insane.

Even if regulators and other policymakers believe the metaverse will never take off; even if you believe this is a ridiculous idea devoid of common sense; and even if you believe this technology will be 20 years away from making a mark, it’s still worth investigating.