The meta-verse will swirl in 2022

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Following increased interest from major technology companies such as Microsoft, Meta (formerly Facebook) and Nvidia, the meta-verse expects to make more headlines by 2022. Leaders across different industries – including blockchain, games, art, retail, fashion, healthcare and more – are digging deep to understand the immersive world of metaverse, and how to position oneself as key players in a budding ecosystem.

Last month, Gartner listed the meta-verse as one of the five effective technologies from the list of 23 new trends and technologies in its Emerging Technologies and Trends Impact Radar for 2022. As these technologies evolve and are increasingly used, global overall spending will for VR / AR, two metaverse-dependent technologies are estimated to reach $ 72.8 billion by 2024 – up from $ 12 billion by 2020.

The metaverse concept has far-reaching potential, according to Gary Grossman, senior VP of technology practice at Edelman and global head of the Edelman AI Center of Excellence. Grossman noted that AI, VR, AR, 5G and blockchain can converge to drive the meta-verse – adding that the sum will be far greater than the parts of this convergence. Companies continue to dive into the meta-verse to take advantage of what has been called the next version of the Internet or the second-best thing for a working teleportation device, in the words of Meta CEO Mark Zuckerberg. What will the metaverse ecosystem look like this year? Let’s take a closer look.

Metaverset buzz

Let’s talk about the buzz first. Metaverset became a buzzword last year, especially in the heels of Meta’s announcement to create social 3D environments attached to its Oculus headset as a major corporate direction. But what is the meta-verse really? Although there have been several conversations about metaverse and the future of Web 3.0, there will definitely be more discussions this year as we see more events like the upcoming Metaverse Summit 2022.

Andrew White, Gartner’s head of research, data, and analytics in an article published on Gartner entitled “Really, What is the Metaverse?” said that the metaverse will effectively be a digital twin of the universe.

White described the video game Warcraft – a massive multiplayer online role-playing game (MMORPG) – as a prime example of a metaverse, citing its enduring nature, independent body, freedom and interoperability as evidence. Continuing White’s explanation, Gartner defines metaverse as “an enduring and immersive digital environment of independent yet interconnected networks that will use as yet unspecified communications protocols. It enables continuous, decentralized, collaborative, interoperable digital content that crosses the real-time, spatially oriented and indexed content of the physical world. “

The meta-verse will allow us to see our virtual presence complement the physical. In the meta-verse, instead of attending conferences physically, you could be there in the virtual world. Instead of learning history from a book, you can be right there and witness it as if you were part of the events in real time.

The decentralized vs. centralized struggle

The decentralized vs. centralized struggle is getting hotter, while organizations are vying for leadership in the metaverse. Several decentralized projects claim that big tech giants like Meta will pose a threat to the open / decentralized metavers, where users have an influence on how platforms are operated. While the growing interest from big technology companies has skyrocketed with the metaverse hype, many decentralized metavers like The Sandbox, Decentraland, Wilder World, Starlink and others had built various metaverse projects long before now.

The blockchain analytics firm, IntoTheBlock, noted in a report that closed / centralized metavers are subject to some inherent limitations of web 2.0 mode. In addition, they are expected to result in an opaque and less secure network, where the value created does not accrue to its users, as would be the case with a platform built on a decentralized blockchain such as Ethereum.

Other experts say, however, that several metaverse platforms will come together to form a converged environment that is considered “the true metaverse” in the future.

Top metavers to see in 2022

While there are several metaverse projects out there – including Treeverse, CryptoTanks, Metahero and others – investors are keeping an eye on these three metavers based on their market values, exciting innovations and founders.

1. Sandboxes

The sandbox is a decentralized metavers reminiscent of Minecraft built on Ethereum, where users can purchase Land as nonfungible tokens (NFTs) that they can customize and monetize. More lands can be purchased to form estates and even districts.

Some big names have already started building on The Sandbox, including Atari and the Bored Ape Yacht Club. American rapper Snoop Dogg recently built a copy of his mansion in The Sandbox and plans to host live performances in the digital mansion.

The token associated with The Sandbox is TRUE, and with a market value of $ 4.5 billion, as well as the recent launch of their time-limited, play-to-earn alpha on November 29, this metaverse is one that investors can keep an eye on in 2022.

2. Decentraland

Decentraland is a metaverse also built on Ethereum, and it resembles The Sims or Second Life. The token associated with Decentraland is MANA and is used to facilitate in-game purchases.

According to Decentraland, users can purchase NFT plots called LAND, which are 33 × 33 virtual feet. Aggregation of plots of land will form an estate, and several adjoining landowners with similar interests may form a borough. Landowners can also rent out their space for special events and concerts. So far, the most expensive LAND property has been sold for $ 2.3 million.

With a market value of approximately $ 5.6 billion, Decentraland will remain at the center of metaverse discussions by 2022.

3. Wilder world

Wilder World is a newer metaverse than Sandkassen and Decentraland. Built on Ethereum, Unreal Engine 5 and its sister company ZERO.tech, Wilder World is a metaverse based on photorealism. Wilder World’s team consists of experienced 5D artists – including founder Frank Wilder and Chad Knight, who were previously with Nike – who help create exquisite graphics in the game for Wilder World’s metaverse.

The first city built in the Wilder World meta-verse is #Wiami, a 1 to 1 replica of the city of Miami. Like Miami in real life, Wilder World says #Wiami is poised to become the crypto-hub of the meta-verse. Wilder World is powered by the $ WILD token, which can be used to purchase NFTs such as wilder.kicks, wilder.wheels, and wilder.cribs. The value of NFTs does not stop only at aesthetics. NFT owners can use their items in the game or bet their NFTs to earn more rewards.

Several big names across various industries have already begun establishing stores in #Wiami, including former NBA player Baron Davis, entrepreneur Anthony “Pomp” Pompliano and VaynerNFT.

Wilder World currently has a fraction of the market value of The Sandbox and Decentraland, making it an excellent investment opportunity for investors, according to Wilder.

Other top metavers to keep an eye on include Axie Infinity, Enjin and Meta – all of which offer exciting futuristic projections for the metaverse.

What’s next for the meta-verse?

In a Forbes article, Vlad Panchenko, CEO and founder of DMarket, said that the metavers of the future will include the following:

  • Everywhere network
  • Blockchain with NFTs
  • Extended Reality (XR) with VR and AR
  • Other newer technologies

Pachenko also added that the metaverse will grow into the omniverse with more options for cross-chains. Semiconductor chip manufacturing company Intel notes that metaverse will require 1,000 times more computing power than is currently available.

“Really persistent and immersive computing, scalable and accessible to billions of people in real time, will require even more: a 1,000-fold increase in computing efficiency compared to today’s state of the art,” wrote Intel senior vice president Raja Koduri.

Even though it is still in the early days, the metaverse conversation will grow stronger in 2022 as organizations continue on the path to embracing an inevitable digital future. While 2022 may not exactly be the year when metaverse is booming massively, it is positioned to be a solid start to the impending boom. As Grossman said in his article, “whether it takes three years or 10, there is a huge momentum behind the meta-verse, with seemingly unlimited funding.”

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