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Showing posts with the label META VERSE

What are the Metaverse’s Challenges?

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  Metaverse is the latest tech news channel to be taken with it, and you can see the excitement increasing in the last few months. While Metaverse’s Challenges isn’t new and has been around since 1992 However, it is not all people are aware of the definition of the term. Oxford Languages define Metaverse as “a virtual reality environment in which users interact with computers as well as other users”. The question is what is the reason that has caused interest in Metaverse to increase at such a rapid rate? The reason behind this rapidly growing interest is in part due to one or more of the major tech companies or more precisely in Mark Zuckerberg’s announcement in July about Facebook’s plans to build a future Metaverse. The Guardian revealed that the idea is centred around the creation of an all-encompassing virtual world, connecting people and products, commerce entertainment, workspaces, creators, and more. How close is Virtual Reality (VR) technology reached the goal? It is possi...

Is “metaverse” the next Internet revolution?

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  Metaverse The term, which was first invented by science-fiction writers, was a compound with the suffix “meta” that means “above the limits of “universe”. It is the term used to describe shared virtual worlds in which buildings, land avatars, names and even buildings are able to be purchased and sold, usually by using cryptocurrency.   In these settings, users can go out with their acquaintances, visit buildings or buy products and services, as well as take part in occasions. The idea has risen in popularity in the aftermath of the pandemic, due to lockdowns and work-from-home policies have prompted more people to use the internet for business as well as pleasure. The term refers to a vast array of virtual realities including workplace tools, games and communities platforms. Many of the platforms run on block chain technology, which is based on cryptocurrency and tokens that are not fungible (NFTs) which allow the creation of a new type of digital asset that is decentralised...

The Seven Layers Of Meta-verse

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  The Seven Layers Of Meta-verse Layer 1: Experience A lot of people consider of the metaverse as a 3D space that surrounds us. However, the metaverse isn’t 3D or 2D or even graphic; it’s about the unstoppable  dismaterialization  of physical space, distance and objects. It also includes 3D games such as Fortnite on our gaming consoles Beat Saber in our virtual reality headsets and Roblox playing on our PCs. Also included are Alexa in our kitchen. Zoom in our online office, Clubhouse on our phones, and Peloton in our home gyms. What happens when the physical world is removed from the physical world? Once scarce experiences can now be  numerous . Games can show us the way forward: in a game, you can imagine of becoming a musician, a Jedi, a race car driver, or whatever else you may think of. Imagine what happens if you put this to the more common experiences. For instance, a concert in physical space can sell just a couple of places ...

The Metaverse and What Means for Luxury E-commerce?

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  Luxury E-commerce have been thinking for a long time about the ways in which online marketplaces can boost sales.  That’s why, in October in the year that Mark Zuckerberg revealed that Facebook was changing its name with the intention of creating a “metaverse,” did it signal the rise of the next generation of online shopping? In the past two years the performance of online shopping platforms made the main factor in determining whether retail survives growth, destruction, and survival.   For the foreseeable future, this will likely remain the situation. The increasing importance of Luxury E-commerce is, obviously because of the effects of the epidemic.   The newly enforced behavioral changes (such as those imposed by the government in response to COVID-19) can increase the speed of new customs. In 2003 in 2003, it was the year 2003 that the SARS epidemic in Asia was the catalyst for the growth of the world’s biggest e-commerce players.   As Deloitte points out,...