The idea of the “metaverse” is frequently used to describe a digital space where the distinction between physical and virtual worlds is blurred, as in the film “The Matrix.” The Web of connected 3D environments defines the Metaverse.
Because the Metaverse is not only a stored or virtual world but also differs from VR, it’s true. One must first draw back the camera lens and consider how each of these nine aspects will affect one another to fully comprehend the three elements of the Metaverse, much like in a VR experience.
By examining the 9 megatrends in Metaverse presented here, we have the opportunity to “draw back the camera lens” and get a glimpse of the larger environment in which we are building the Metaverse.
Table of Contents
9 MEGATRENDS IN METAVERSE in detail
Below is the detailed list of 9 Megatrends in metaverse:
More and more people believe that the virtual world is just as real as the actual world. Trust is essential to functioning relationships and organizations in the physical world. It serves as the foundation for how companies grow inside legal frameworks, how our financial sector continues to function, and as a unit of measurement for our relationships.
The scalability of the Metaverse and the businesses that encourage it will expand as trust grows in the “virtual” world — with online friends, virtual goods and crypto holdings, smart contracts, and live digital experiences.
However, there is often a countertrend to every significant trend; as people respect the digital world more, this will give those looking to take advantage of it more confidence. Sadly, many people are aware of cybercrime, including phishing scams to steal your accounts, numerous internet scams, ransomware assaults, and virus distribution.
Due to the fact that individuals mistakenly think virtual connections and possessions are genuine, cyberbullying, abuse, dishonesty in games, and cheating in relationships will all become more destructive. As greater value is put on them and as expenditures from businesses devoted to combating crime and abuse increase, these behaviors will increase. Products cannot resolve these issues on their own.
Additionally, it will require education, training, digital literacy, a supportive community, and parents who are understanding.
Challenges by Open Systems
The initial vision for the Internet was a widely dispersed, decentralized network of apps and computers that could communicate with one another. Several extremely big platforms that serve as gateways and tollbooths dominate the Internet nowadays.
However, new innovations in technology and open standards might democratize the Metaverse’s future. The open Web will receive quick, secure, sandboxed binary apps thanks to WebAssembly (Wasm). Graphical and interactive experiences that can be supplied outside of the app store will benefit from WebGL and WebXR.
These systems are being used by platforms like Unity Data-Oriented Technology Stack (DOTS) to produce small, effective binaries that function at the level the Metaverse will need. Since they enable extensive cooperation amongst software development projects, open systems are also a social phenomenon.
The Open Source movement, which is effectively a permissionless social network of software engineers, may be compared to Reed’s Law, which anticipated the increasing value of programs like Slack or WhatsApp. Wasm, an open source platform, can attract the most prospective collaborators and provide more value than other permissioned platforms combined.
Linux and PC are examples of systems without permission that should prosper in the future. Similarly, individuals may reclaim control over their own data through the use of technologies like decentralized digital identification systems and zero-knowledge proofs.
Due to the lack of requirement for trust, this may encourage users to provide Internet applications access to more of their private details. If we can set programs and data free to do so, network effects might increase exponentially.
Walled Garden Ecosystems
All of the major megatrends that affect the Metaverse are advantageous for Walled Gardens. Not every world or program will be accessible. In some cases, a platform or application should include characteristics like integration, curation, control, and authorization.
Without the combination of these qualities, Roblox would not have achieved its current level of popularity. Oddly, the open systems that challenge walled gardens also help them. Many clients could feel safer inside of them since they use the same open-source and blockchain technologies as everyone else.
Walled gardens don’t cause any issues. The issue with the present ecology in 2021 is that there are not enough walled gardens. You should find it simple to design your personal walled garden and allow other creators to join, contribute, change, and interact in accordance with the guidelines you’ve established.
The question of how each walled garden will be found arises when there are more and more of them. There are hierarchical discovery platforms like Roblox that are powered by search and popularity and act as a “YouTube for games.”
This will continue because individuals enjoy curating and developers enjoy having access to big audiences. However, solutions for portable social networks, portable avatars, and interoperability are in the works. If successful, this might connect many walled gardens utilizing open platforms and offer up new possibilities for curation and discovery.
More tasks that were formerly completed by humans are now being performed by machines. This covers areas that are referred to as artificial intelligence, machine learning, and deep learning. We are living in a world where learning algorithms are used to fine-tune marketing messaging, merchandise, and online interaction.
Applications like driverless automobiles are tantalizingly close to being implemented in the real world. Machine intelligence corresponds with every other development you may observe here in the Metaverse.
If you look at how Promethean AI can create a virtual environment or how AI Dungeon develops tales, you can see how it can affect creativity. Just think about how far this technology will advance in the next ten years.
Rise of Cybernetics
The age of cybernetics is already here. They aren’t yet as advanced and magnificent as they’ll be in the future, nor are they dispersed as equitably. Cybernetics is the study of how to integrate computing technology with human sensory and motor systems.
Examples already in use include wearables, accelerometers from mobile phones, and VR headgear. Technologies have evolved from being stationary workplaces to becoming portable supercomputers that fit in our pockets because of miniaturization and high-speed networking.
Our bodies are growing nearer to these machines. We are moving from observing computers from a distance to a future in which we will inhabit virtual reality and exist in a society where computing is pervasive. Since these aren’t cellphones but rather extremely portable computers with a telephony program preloaded, the word “smartphone” already seems dated.
Through VR headgear like the Oculus, which responds to our eyes, head position, and movements, we can already enter the virtual world. We’ll be able to extend this experience to more of the environment as they develop into smart glasses. We could even have useful smart contact lenses in the future.
With the use of light field technology, we could even be able to project photons to the retina along with their depth of field, enabling your eye to focus on various elements of a virtual picture and creating a genuinely holographic experience. These machines will progressively understand our voice commands, gestures, and biometric data.
In place of manual coding procedures, logic, and apps, low-code and no-code application platforms (LCAP) offer higher-level abstractions. The clearest advantage of this trend is that some of the activities that programmers formerly conducted may now be done by non-programmers.
However, this doesn’t adequately convey the significance or the reasons behind the business use of these platforms. The extensive automation that takes place behind the visible layer of LCAP, including the automation of workflow, deployment, privacy, scaling, and interaction with numerous data endpoints, accounts for a significant portion of its “magic.”
The majority of the time spent creating Internet apps is frequently consumed by this complexity and scale. The consequence will be a significant decrease in the amount of labor necessary to construct apps, in addition to a change in who executes the job. By 2023, more than 50% of major businesses, according to Gartner, will be using LCAPs to run at least some of their infrastructure.
The majority of these developers are also converting to a serverless architecture. On the other side of the business, you have an expanding variety of creator tools that make it simple to script complicated behaviors, produce metaverse content, and engage in commerce.
Contrary to conventional opinion, items don’t really cater to small businesses as much as they do to enterprises. Although “business” technology is typically difficult to scale down to people, there are several instances when this was possible, and the personal solution ended up being the most convenient one for the organization.
That covers pretty much everything that Adobe has ever produced. More recently, systems like Shopify need little or no coding power, anything from tiny companies to some of the world’s most famous brands (Hasbro, Budweiser, etc.).
For many years, a set of tricks known as shader programming was the primary method used by practically all games using 3D graphics to produce real-time visuals. Ray tracing simulates how pictures appear depending on how photons bounce between and across various materials using the laws of light physics.
Ray tracing requires a significant increase in processing power but produces graphics that are far more attractive and realistic, which is why it is utilized for pre-rendered material like movies. However, real-time raytracing is coming. It is only one illustration of the way our machines will simulate reality. Consider doing simulated fluid dynamics using NVIDIA’s Omniverse technology as an example.
Imagine having the ability to faithfully represent a river or mimic an HVAC system. Then picture each of these simulations and AI engines being connected to a platform that is open and interoperable, allowing logic and forecast to mimic a world of virtual people, objects, places, and machines.
Accelerating Distributed Networks
Mobile networking bandwidth, concurrency, and latency will all increase dramatically with 5G networks. And 6G will further increase these measures by another 10-100X. Thus 5G is not the end of the road. Within a decade, 10 Gbps speed with 1 ms latency should be possible.
Although accelerated speeds are required to enable the Metaverse, some of the most intriguing applications come from the network effects that happen when all of the network’s users can exchange real-time data. Moving additional processing power straight to the “far” edge of the network will become increasingly important when the localized network layer no longer serves as a bottleneck.
Occasionally, data will be preprocessed and presented to your cybernetic gadgets straight inside your home; other times, it can take place at the neighborhood cell tower. Due to its poor processing speed, a large portion of the AI that drives apps will take place at the edge.
The network of local computer devices and data sources must interoperate fast in the future. For apps in the Metaverse where predictions of behaviors and physics are good enough, this may occasionally mean predicting at the edge.
Blockchains, a distributed ledger technology, have the potential to accomplish for assets and information what Open Source and the Open Internet have done for applications and software. Blockchains provide decentralized control, a record of history and provenance, and a demonstrable shortage of assets, as well as trustless data transfers.
A blockchain can provide permissionless involvement or decentralized autonomous organization governance when it is decentralized. Blockchains’ fundamental utility is programmability. Although not all blockchains are inherently programmable, Ethereum and other “smart contract” chains rely heavily on them.
Why is this such a big deal? Once more, it’s the network effects. The worth of the network rises with the number of nodes that could engage in it, and Reed’s Law states that this value rises even more if groups coalesce around particular tasks (games, financial legos, etc.). The contributions to value are enormous.
More people, more apps, and more building blocks for those applications all equate to more smart contracts and decentralized applications. Since you can place your faith in the blockchain itself rather than a single authority, blockchains are referred to as “trustless” systems.
Blockchains’ societal scalability is a result of the long-tail dispersion of all these trustless apps, contracts, and parts. Decentralized loans, decentralized banking, and decentralized asset exchanges have all been made possible thanks to network effects, which also opened the door for on-chain data feeds (oracles) that may be utilized as requirements in smart contracts.
How Global industries will be impacted by these trends
The impact of these megatrends on the global industry would be
- The data we want, when we require it, will emerge thanks to agents driven by our interests and preferences. And the places we explore will be populated by more and more virtual creatures.
- AI will be utilized to create code to aid programmers and develop the microchips that fuel the Metaverse. Machines will be able to read human body language, anticipate wherever our eyes will gaze, identify our emotions, and even detect when our neurons fire. Machine intelligence will be integrated into our no-code and low-code application platforms, in which they will function as both design advisers and a component of the service architecture.
- Additionally, the fusion of mobile and wearable technologies represents a societal shift rather than only a technological one. It will alter how our homes, jobs, communities, and public transportation are organized. It will alter the way you make friends, place food orders, travel, and work together on projects.
- If we can set programs and data free to do so, network effects might increase exponentially.
- Additionally, brain interfaces could possibly make it possible for machines to comprehend our intents more quickly than we can. What is the result? The Metaverse won’t just be a place we enter. We’ll be surrounded by the Metaverse at all times.
- A larger group of creators will gradually contribute to the creation of the Metaverse, which will be backed by a larger selection of plug-in programs and logic.
- An increasingly growing number of sources from the physical world will contribute data. This includes geolocation data, traffic data, oracles that provide financial data to smart contracts, digital twins of physical things equipped to disclose all of their features, and real-time data of individuals and processes. Instead of just having an Internet of Things, we’ll have an Internet of Everything that is combined with real-time visualization, AI, and predictive analytics. These developments will make the next generation of physics-based video games, as well as a metaverse that can overlay and forecast the real world, more appealing.
- Some components of cloud computing may be replaced by blockchain technology, and the growth of non-fungible resources may serve as the foundation for virtual products in a new wave of games, avatar modifications, and metaverse experiences. When you release resources, data, and programmable contracts onto the open Web, the opportunities are just the beginning.
Is it safe to make a career in the megatrends for future stability?
The potential effects of this virtual work experience in the Metaverse worry many skeptics. One problem is privacy. Employers may look for innovative ways to keep tabs on their staff without the conventional, physical office space, some of which could violate privacy rights. The cumbersome and expensive nature of the existing technology required to realize the full potential of the Metaverse is another possible drawback, or at the very least, a challenge that must be addressed.
The way we connect, socialize, play, and work will surely change as a result of the metaverse and Web 3.0 advances. The megatrends that have been discussed are evidence of the opportunities and possibilities the Metaverse offers for our future.
Q. What are the top metaverse startups?
A. Some of the top metaverse startups are:
- Super social
- Phala Network
Q. What are the top metaverse companies?
A. The top metaverse companies are:
- Epic Games
- Roblox Corporation
- Unity Software
Q. Will megatrends simulate reality?
A. The megatrends are a useful foundation for developing new planning scenarios, defining a pertinent purpose for the future, and acting quickly.
Q. Is AI related to Metaverse?
A. The majority of the speech, animations, 3D graphics, or even metaverse art will be produced by AI. AI will also be utilized to automate blockchain technologies like smart contracts, decentralized ledgers, and others to enable digital transactions.