Term of the Moment
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Redirected from: Facebook Metaverse
Definition: metaverse
(1) See also multiverse.
(2) In the early 2020s, the metaverse term caught on as the next version of virtual reality (VR) where everybody gets together in a simulated 3D world using headsets. Although the term became a hot buzzword, by 2024, it had faded quite a bit.
The Origin of the Term
Gaming and Fantasy
For years, gaming and fantasy worlds have been the drivers of virtual reality because people are willing to wear bulky headsets to enjoy totally immersive 3D environments.
The First Virtual World
Using a regular computer, the first virtual world was Second Life in 2003. Still thriving, it lets people live an online fantasy (see Second Life). Years later, Bitcoin buzz created Decentraland to buy virtual land with crypto (see Decentraland). The Spatial organization hosts NFT galleries in its "metaverse of exhibitions" (see Spatial).
Lots of Investment and Hype
Video game company Animoca Brands raised $500 million to fund a "gaming metaverse." Microsoft expressed interest in an "industrial metaverse" but later switched focus to AI. Facebook began selling VR headsets in 2014 when it acquired the Oculus brand and changed its name to Meta in 2021 to claim metaverse leadership. Billions were invested in Meta's Reality Labs for metaverse development; however, by 2024, Meta's emphasis switched to AI (see Meta Platforms and Meta Quest). Apple entered the VR field in 2024 with no mention of the metaverse (see Apple Vision Pro).
Metaverse and NFTs
The metaverse and crypto worlds intersect because online games may offer merchandise as NFTs (non-fungible tokens). When people own NFTs, they own a property they can sell or trade, possibly across venues. See NFT, Bloktopia and GameFi.
Will the Metaverse Happen?
Cathy Hacki, chief metaverse officer at the Journey design and innovation consultancy, said one of the following two sentences will be proven right: #1 - "Metaverses offer infinite possibilities to create virtual realities that are genuinely lifelike and immersive, and to experience a new way of living and interacting with others." #2 - "Metaverses are over-hyped fantasies promoted by those looking for new ways to advertise." See virtual reality, augmented reality, VR headset, smart glasses, virtual world and Meta Quest.
The First Metaverse?
Getting Better All the Time
(2) In the early 2020s, the metaverse term caught on as the next version of virtual reality (VR) where everybody gets together in a simulated 3D world using headsets. Although the term became a hot buzzword, by 2024, it had faded quite a bit.
The metaverse term originated in this 1992 book about a futuristic pizza delivery service. In 2022, Stephenson and Bitcoin Foundation co-founder Peter Vessenes joined to create their own metaverse (see Lamina1).
Gaming and Fantasy
For years, gaming and fantasy worlds have been the drivers of virtual reality because people are willing to wear bulky headsets to enjoy totally immersive 3D environments.
The First Virtual World
Using a regular computer, the first virtual world was Second Life in 2003. Still thriving, it lets people live an online fantasy (see Second Life). Years later, Bitcoin buzz created Decentraland to buy virtual land with crypto (see Decentraland). The Spatial organization hosts NFT galleries in its "metaverse of exhibitions" (see Spatial).
Lots of Investment and Hype
Video game company Animoca Brands raised $500 million to fund a "gaming metaverse." Microsoft expressed interest in an "industrial metaverse" but later switched focus to AI. Facebook began selling VR headsets in 2014 when it acquired the Oculus brand and changed its name to Meta in 2021 to claim metaverse leadership. Billions were invested in Meta's Reality Labs for metaverse development; however, by 2024, Meta's emphasis switched to AI (see Meta Platforms and Meta Quest). Apple entered the VR field in 2024 with no mention of the metaverse (see Apple Vision Pro).
Metaverse and NFTs
The metaverse and crypto worlds intersect because online games may offer merchandise as NFTs (non-fungible tokens). When people own NFTs, they own a property they can sell or trade, possibly across venues. See NFT, Bloktopia and GameFi.
Will the Metaverse Happen?
Cathy Hacki, chief metaverse officer at the Journey design and innovation consultancy, said one of the following two sentences will be proven right: #1 - "Metaverses offer infinite possibilities to create virtual realities that are genuinely lifelike and immersive, and to experience a new way of living and interacting with others." #2 - "Metaverses are over-hyped fantasies promoted by those looking for new ways to advertise." See virtual reality, augmented reality, VR headset, smart glasses, virtual world and Meta Quest.
From 1957 to 1962, filmmaker Morton Heilig's Sensorama had stereo sound, smell, seat vibrations and wind. However, it never went into production. (Image courtesy of MinecraftPsycho.)
In 2016, VR headsets were getting much better. Imagine virtual reality 25 years from now! (Image courtesy of PCMag.com.)