Hello
What is Metaverse ?
If you have reached to this page means you want to really know about Metaverse. From concept to the core economic value we will be happy share all here. Let's start with a bit about us & the vision of founding team members to build Malls of Globe (MOG) Metaverse.
What is a Metaverse ?
Have you read famous science fiction novel “Snow Crash ?
The term Metaverse can be traced back to Neal Stephenson’s 1992 science fiction novel “Snow Crash,” which is said to have radically altered the perspective of people like LinkedIn founder Reid Hoffman, completely altering his views on the future of technology.
In the most simple terms , the Metaverse is the collective, persistent, parallel reality created by the stitching together of all virtual worlds to form a universe that we can seamlessly traverse.
Who will build the Metaverse?
It's time to have precious exchange of information...
As we speak, there are already companies that are building the nascent foundations of such a new world. For example, Fortnite, developed by Epic Games in 2017, allows players to engage in three different play modes, including a “battle royale” mode where up to 100 players go head-to-head in a last-person-standing free for all.
When asked in 2019 if Fortnite was a game or a platform, Epic Games founder Tim Sweeney replied, “Fortnite is a game. But please ask that question again in 12 months.” In the ensuing 12 months, Epic began to answer that question, by evolving Fortnite to become a world of its own, blurring the lines between real-world and virtual experiences.
For example, rapper Travis Scott delivered a five-concert series in Fortnite, drawing close to 50 million attendees. And Epic is hardly the only company that sees gaming as a gateway to the Metaverse.
Facebook too has clearly bought into the potential of the Metaverse, as evidenced by its 2014 acquisition of VR headset developer Oculus and, more recently, by its creation of Facebook Horizon, a virtual reality platform currently in closed beta. In its current iteration, Horizon allows individuals and small groups to interact and engage in a wide variety of experiences, essentially allowing users to step into a virtual, real-time version of Facebook. Facebook believes that the experiential content landscape in Horizon will be largely developed not by Facebook, but by users and organisations.
The overarching point here is that the Metaverse will not be developed by any one company or group of individuals but rather collectively, by all of us — individuals, brands, technology companies, government and non-governmental organisations — anyone and everyone.
And while companies like Facebook, Google, Disney and Amazon will all build their unique presence and experiential platforms within the Metaverse, all will have to agree on a set of shared protocols for interoperability across domains and accessibility across all device types.
The True Promise
Metaverse will not be developed by any one company or group of individuals but rather collectively, by all of us — individuals, brands, technology companies, government and non-governmental organisations — anyone and everyone.
The true promise of the Metaverse can only be realised when each of these “worlds” — be it Fortnite, Facebook Horizon and eventually millions of others — are stitched together into a universe where we can seamlessly teleport from one world or experience to another in real-time.
What is a NFT ?
Is NFTs the currency for Metaverse Transactions ?
The metaverse will allow people to showcase digital forms of art and property, and NFTs will allow them to put a price on that content with proof of ownership. While NFTs use the same blockchain technology that cryptocurrencies use, they're not a type of currency themselves. Each NFT is attached to a specific item.
It is important to understand the economic value in the metaverse.
Retailing in the Metaverse
It's time to break free !
When it comes to retail, there are those that foresee the creation of shopping venues — stores, malls and more — in the Metaverse. This is probably short-sighted. To simply transport industrial age shopping concepts and conventions to the Metaverse would be both unimaginative and ineffective.
The creation of the Metaverse will allow us to break free from the current industrial form and function of physical stores and move light years beyond even the best digital shopping experiences of today.
While the Metaverse may take decades to develop, there will be increasingly sizeable investments made now and, in the days to come, by organisations building that future.
Companies like Ikea are already successfully employing augmented reality technology to allow customers to design their spaces using its Studio app. Beauty giant L’Oréal has built an entire line of virtual cosmetics. And Gucci has begun selling virtual clothing, launching its Gucci Virtual 25 sneakers, designed by Gucci creative director Alessandro Michele, for $12.99 per pair.
Each of these things, while limited by the technologies and protocols we use today, is a small step toward the Metaverse. Growth will come slowly and incrementally until, as was the case with the internet, enough infrastructure, developers and users create a tipping point.
