What is Metaverse

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Meaning and Origin

“Metaverse” is a combination word composed of the prefix "meta-" and "universe." "Meta-" comes from the Greek prefix "μετά," meaning "beyond" or "transcending," as well as the concept of self-reference and recursion. 

For example, "a meta-story" can be understood as "a 'story' of story," meaning a "meta-story." By this logic, the Metaverse is a universe beyond reality that encompasses all things in the universe.

The term "Metaverse" first appeared in the novel "Snow Crash" by American novelist Neal Stephenson. In his novel, the Metaverse is a virtual space where characters can escape from a harsh reality. 

Neal Stephenson's work and the concept of the Metaverse have influenced many technology companies, including Google and Facebook, the latter of which officially changed its name to Meta in October 2021. This was an opportunity for many people to become acquainted with the concept of the Metaverse.

Commercialization of the Metaverse

So, what is the commercialized Metaverse we are discussing now?

Today's Metaverse is a 3D virtual world network that focuses on social interaction. In Meta's presentation of its vision for the development of the Metaverse, people are the focus, and the connections between people are key.

From social and gaming, to work and business activities, the Metaverse aims to bring people together in augmented reality, even if they are thousands of miles away. Interoperability and immersive digital reality are the two most important aspects of the Metaverse. It aims to be achieved through the combination of virtual reality technology, augmented reality technology, artificial intelligence, 3D reconstruction, the Internet of Things, and other technologies.

There are already many encrypted projects with Metaverse features, especially gaming projects such as Sandbox and Decentraland. The concept of the Metaverse is relatively new and very ambitious, so it is still evolving.

If you want to learn more about encrypted projects with Metaverse features, please refer to the relevant tabs on TokenInsight.

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