What is the term Metaverse about?
The term ‘metaverse’ is used to refer to an emerging and evolving future iteration of our present day internet. Called Web 3.0, it encompasses online 3-D or virtually integrated ‘worlds’ or environments where virtual reality and augmented reality meet.
With many digital platforms arising, including Earth2.io, which sold over 100 million virtual tiles of land within the first 2 years of its launch, the metaverse is the future of digital experience and social networking. The metaverse technically refers to an integration of several digital spaces, and can hold a range of activities in a completely digital space. Gaming, social networking, professional networking, advertising and offering services in the Web 3.0 metaverse will be on the rise as companies throw out new technology such as VR headsets, AR smart glasses, haptic suits and gloves and more.
What’s the hype about for the Metaverse?
Large companies like Microsoft and Meta are jumping on the Metaverse train. Meta recently posted a 2.8 billion dollar loss on its Metaverse project, but is still optimistically plugging ahead. Microsoft bought Activision Blizzard for $68.7 billion citing the metaverse as its reason for acquiring them. Second Life and Somnium Space were among the first immersive spaces that incorporate VR experiences into their environments, while companies like Fortnite and Minecraft are now integrating aspects of the metaverse into their games.
The ability for players around the world to engage with each other and digital environments that they can manipulate and build on is once of the reasons why the metaverse market size is projected to be worth around USD 1,607.12 billion by 2030.
Is Earth2.io a good metaverse choice?
Earth 2.io launched recently and easily sold over 100 million tiles of virtual land within 2 years. Metaverse projects such as Decentraland and Sandbox have sold individual land plots of millions of dollars, but their environment is blocky and cartoony and not for everyone. Earth2.io provides a much more realistic and beautiful 3D world design and, most importantly, is the first metaverse project to create a digital Earth 2 – with each virtual land tile replicating the exact land space on our own Earth. So, if you’re standing in downtown Chicago and put your VR headset on, the vision Earth2 promises is that you’ll be standing on the exact same coordinates in Earth2. This has profound implications for companies wishing to utilize Augmented Reality in order to reach people walking around their grounds. Earth2.io also promises a vibrant gaming and PVP metaverse, where players can fly drones and other battle vehicles to engage in PVP wars and win rewards in a play-to-earn fashion. A variety of activities would keep players returning to their metaverse platform. It has been promised that landlords will be able to build on their land and spawn creatures as well. They’re scheduled to end up on the blockchain and to convert their current “Essence” to crypto tokens.
However, to date (as of July 30, 2022), the above are promised but not yet live. So, while Earth2.io has great potential to become a globally known metaverse, like Meta, it has its struggles and is a project in development. Players have invested tens of thousands of dollars into the platform, with areas like the Statue of Liberty selling for USD $50,000 or more.