This article will discuss the future of the Metaverse, a virtual world where digital avatars interact via virtual reality headsets. Currently, the Metaverse is dependent on encryption and cryptocurrencies for the buying and selling of virtual assets. It is possible that Meta and Apple will clash philosophically over whether the Metaverse should be open or closed. Which will win? Let’s examine both arguments in more detail.
Metaverse is a virtual world where digital avatars interact via virtual reality headsets
Metaverse is a type of persistent online world in which users can explore multiple spaces simultaneously and independently. The virtual world presents perceptual data, including the actions and communication of other users. This type of virtual world is already widely used in massive multiplayer online games, like Second Life and Minecraft. Users can interact with one another in real time and can build structures and travel between virtual world spaces. Metaverse proponents believe that this type of virtual world can have many uses outside of gaming.
Some people are attracted to the virtual world because of its ability to offer an alternative reality or escapism experience. However, the use of VR headsets creates an unsettling sense of seclusion, as users feel that they are separated from other people. Fortunately, the potential of metaverse may lie in augmented reality experiences. In future open world games, users could customize their digital doppelgangers using a tool called the MetaHuman Creator.
It requires cryptocurrencies to buy and sell virtual assets
The bill specifies that cryptocurrencies are property under the Uniform Commercial Code, authorizes security interests in digital assets, and establishes regulations governing the use of these cryptocurrencies. It also prohibits the use of virtual currency and non-fungible tokens as gifts to public officials. The bill also establishes an office of financial resilience, which will develop new programs and promote resilient financial models, as well as establishing a regulatory sandbox program. Lastly, the bill establishes a task force for studying the possibility of designating specific areas of the United States as economic empowerment zones.
It relies on encryption to function properly
Many industries rely on encryption to protect sensitive data. In addition to providing strong data privacy protection, encryption is often required by compliance regulations. For example, federal information processing standards (FIPS 140-2, for short) require secure design of the cryptographic module. This is especially important for healthcare providers, who could be in trouble if they accidentally leaked sensitive patient information. While encryption is inherently slow, it is not an impossible task for an algorithm to perform.
It’s a philosophical competition between Meta and Apple
Mark Zuckerberg recently declared that Apple and Meta are “in a philosophical competition” over the metaverse. The statement comes after a Meta employee asked Zuckerberg about the potential impact of Apple’s new AR glasses on the Oculus ecosystem. Zuckerberg also compared Apple’s position to Google in the smartphone market and Microsoft’s in the home computing industry. If Meta and Apple can’t get along, then the future of virtual reality is up in the air.
But the chief executive of Meta did acknowledge that Apple’s approach to tightly controlling hardware and software works well for its iPhone line. But the Metaverse’s CEO noted that there was no conclusive evidence that an open metaverse ecosystem would be better for consumers. Zuckerberg went on to say that “there is no clear-cut answer” as to which approach is more effective.