10 questions to make it clear what is Metaverse

People’s ideas about the meta universe are very diverse and abstract. These ten questions concretize the abstract meta universe and help people better understand it.

1. What is the meta universe?

1) Proposal of the concept of meta universe

The meta universe has only existed in literature and film and television works for a long time. Metaverse is composed of two roots: Meta and Verse. Meta means “transcendence” and “meta”, and verse means “universe”. The term Metaverse originated from the 1992 science fiction novel “Avalanche.” The novel depicts people competing with each other in the virtual reality world by controlling their digital avatars to enhance their social status . In the following 30 years, the concept of meta-universe has appeared in film and television works such as “The Matrix”, “Number One Player”, “Western World”, and games such as “The Sims”. At this stage, the concept of meta-universe is relatively vague, and it is more understood as a parallel virtual world .

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2) The eight elements of the meta universe

According to the definition of Roblox, a listed company of Metaverse Concept, Metaverse should possess eight elements including identity, friends, immersion, low latency, diversification, anywhere, economic system, and civilization . Most of the manifestations of the meta universe start from games, and gradually integrate functions such as the Internet, digital entertainment, and social networks . In the long run, it can even integrate social economic and commercial activities.

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3) The listing of Roblox, the first stock of Meta Universe

On March 10, 2021, Roblox will be listed on the New York Stock Exchange in a direct listing model (DPO). Roblox believes that the meta-universe is used to describe the concept of persistent, shared, three-dimensional virtual space in the virtual universe.

4) Metaverse summarizes the development direction of early technology

Orient Securities analyst Zhang Ying pointed out that before the launch of the meta-universe concept, technologies such as 5G infrastructure, display screens for smart terminals, and AI chips continued to evolve. At the same time , concepts such as industrial Internet, industrial Internet, digital twins, and VR games were all Constantly mature. After the birth of the meta-universe concept, the development direction of most technologies in this period can be well summarized.

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2. The structure of the meta universe?

Orient Securities believes that the two concepts of the carrier and content of the meta universe are very broad, mainly divided into three parts:

  • The bottom layer of Meta Universe consists of infrastructure and terminal hardware equipment: including but not limited to human-computer interaction, 3D engine, GIS, design tools, game rendering, screen rendering, privacy computing, AI, operating system, industrial Internet, content distribution, applications Stores and smart contracts;
  • On this basis, Metaverse also requires a lot of software and technology collaboration: including but not limited to: 5G, 6G, cloud computing, blockchain nodes, edge computing nodes, DPUs on the infrastructure side; routers, sensors, chips, and VR head-mounted display, display, brain-computer interface;
  • Based on this, Metaverse can derive corresponding applications and develop potential content carriers based on various applications of Metaverse.

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3. The development model of Metaverse?

1) The development of Meta universe is a gradual process, and the technology, content, and carrier are all evolving

  • Technical side, block chain technology evolving to Ethernet Square as the representative of the community in exploring how to block chain applications enrichment to Coinbase, Uniswap also better for the economy and Opesea block chain represented by Exchange Trading capacity
  • On the content side, the number of games with the concept of meta universe continues to increase, the ecology continues to strengthen, and the number of users also increases. UGC meta-universe concept games represented by Roblox and Sandbox benefit from the participation of players and continuously enrich the content of their games;
  • On the carrier side, the underlying technologies such as communication technology, virtual reality, and chips are also evolving.

4. The penetration path of the meta universe?

This question can also be understood as the distance between us and the meta universe. Orient Securities Zhang Ying said that the content of the meta universe will be concentrated on the game side and the art side (NFT art collection) in the short term. In the long term, the penetration path of the meta universe is expected to be “Game/Art-Work-Life” .

1) Game side: represented by Roblox

The Roblox platform is mainly composed of three products:

  • Client: An application that allows users to explore the 3D digital world. (For users);
  • Studio: A group of tools that allow developers and creators to build, publish, and manipulate 3D experiences and other content accessed by Roblox clients. (For developers)
  • Roblox Cloud: The services and infrastructure that power the common experience platform.

Roblox’s main source of revenue is the user’s in-game spending. Players need to recharge in exchange for the in-game token Robux to obtain various functions of Roblox , which is also the source of Roblox’s revenue.

In addition, Roblox’s incentive mechanism is very clear. Excluding 25% of the revenue paid to APPStore and the revenue used for various fees on the platform (about 26%), the remaining about 49% of the revenue is basically divided equally between the company and the developer. .

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In fact, the concept of the game UGC platform can be traced back to Warcraft 3: Warcraft 3WE map editor supports developers to create many RTS (real-time strategy games), MOBA (multiplayer online tactical competition) game maps and game types. However, the lack of a reward mechanism for developers in Warcraft 3 has led to a low degree of overall commercialization.

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2) Art side: NFT builds the economic foundation of the meta-universe

Non-homogeneous tokens (NFT) have non-fungibility, uniqueness, indivisibility, low compatibility and item attributes . In addition, there is a single product circulation channel, and there is high room for improvement in market transparency and price discovery capabilities.

At present, many major Internet companies are testing the NFT field: In June 2021, Alibaba launched the Alipay payment code skin NFT, and in August 2021, Tencent made a series of strategic layouts around NFT.

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3) Work side: the layout of Facebook and Nvidia

Infinite office is an important part of Facebook’s meta-universe strategy. In September 2020, Facebook announced the launch of InfiniteOffice, a virtual office application for VR, which supports users to create virtual office spaces and improve work efficiency.

NVIDIA launched NVIDIA Omniverse, an open platform designed for virtual collaboration and accurate real-time simulation of physical properties. And has been put into use, BMW is promoting the NVIDIA Omniverse platform internally to coordinate the production of 31 factories around the world. According to the information disclosed on NVIDIA’s official website, NVIDIA Omniverse will increase BMW’s production planning efficiency by 30%.

4) Life end: for experience scenarios

Orient Securities believes that the future of Metaverse lies in exploring the commonality of its application scenarios. These application scenarios all need to consider the user’s experience. The future business model of Metaverse is similar to that of smart phones, that is, to increase the user’s use time through the sense of experience, thereby increasing user stickiness. These times (experiences) become the basis of various services in the meta universe.

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5. What are the deterministic trends in the meta-universe era?

The main carrier (infrastructure) of the meta universe mainly includes the following parts

1) Network (communication)

As a new generation of broadband mobile communication technology with high speed, low latency and large connection characteristics, 5G is a network infrastructure that realizes the interconnection of humans, machines and things.

2) Chip (computing power)

Metaverse’s content, network, blockchain, graphic display and other functions require more powerful computing power.

In terms of cloud computing power, DPU chips (data processing chips) provide secure acceleration infrastructure for various workloads in cloud, data center, or edge environments by shunting, accelerating, and isolating various advanced network, storage, and security services.

In terms of terminal computing power, heterogeneous chips allow the CPU, GPU, FPGA, DPU, ASIC and other chips in the SoC to work together to continuously improve computing power to enhance user experience.

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3) Cloud and edge computing

Cloud computing and edge computing provide users with required computing resources, lowering the threshold for users to reach the meta universe.

4) AI

AI is widely used in the meta-universe. AI can help create meta-universe assets, artworks, and other content (AIGC), and can improve the software and processes we use to build all of these content.

6. How does Metaverse exert its value on the industrial side?

Many Internet companies and industrial software companies around the world have long-term arrangements for industrial meta-universe related technologies, including digital twins, industrial Internet, simulation testing, digital factories, CAD, CAE, EDA and other industrial software.

1) NVIDIA: Omniverse platform

Omniverse’s architecture includes five parts: Connect, Nucleus, Kit, Simulation, and RTXrenderer. Together with third-party digital content creation tools (DCC) and Omniverse-based microservices, they form the Omniverse ecosystem.

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Huang Renxun said at the Computex2021 online conference that the virtual world and the real world will be cross-integrated in the future, and Metaverse and NFT will play an important role in it. The Omniverse platform is mainly oriented to architecture, engineering and construction; manufacturing; media and entertainment, and supercomputing scenarios .

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According to the introduction of the Omniverse platform on NVIDIA’s official website, through the Omniverse platform, users can complete operations such as real-time virtual collaboration, simulated reality design, simulated environment, and construction of future factories.

2) Microsoft: Exploring the Digital Twin

In September 2021, Microsoft CEO Satya Nadella proposed a new “enterprise meta-universe” concept in his Inspire2021 speech. Microsoft’s Metauniverse project expects that Metaverse can break the current barriers between communication and business processes, integrate them, and make the industrial scene more convenient. Before the announcement of the “enterprise meta-universe” concept, Microsoft had established the base of the industrial meta-universe through technologies such as Azure digital twins and AI.

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The Azure Digital Twin is an Internet of Things (IoT) platform that can be used to create digital representations of real objects, locations, business processes, and people. GE Aviation’s digital group uses Azure digital twins to build a real-time and automatically evolving model, so customers will have access to updated, accurate and available data models of their aircraft at any time. And, through the built-in digital traceability, every physical asset and component on each aircraft can be recorded in real time.

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3) Nengke shares: layout simulation and testing

The main business of Nengke Co., Ltd. includes two sectors: intelligent manufacturing and intelligent electrical. The company’s intelligent manufacturing business is based on the concept of digital twins, integrating advanced industrial software and digital IOT equipment in the industry, defining productivity in the virtual world and developing personalized industries for customers Micro-applications, the establishment of digital and intelligent production lines and test benches in the physical world to meet the data and business coordination needs of manufacturing enterprises throughout the product life cycle, and to help enterprises achieve their independent innovation, operating costs, production efficiency, defective product rate and customers Business goals such as satisfaction.

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4) Alibaba Cloud: “New Infrastructure” for Digital Factory

According to the definition of the German Association of Engineers, a digital factory (DF) is a comprehensive network composed of digital models, methods and tools, including simulation and 3D virtual reality visualization, integrated through continuous and uninterrupted data management.

The Alibaba Cloud Industrial Internet Platform helps manufacturing companies to transform digitally, creating a new infrastructure with full coordination within the factory, supply chain, and industrial platform , closely connecting and synergizing the factory’s equipment, production lines, products, supply chain, and customers to provide companies with reliability The basic platform and rich upper-level industrial applications, combined with comprehensive industrial support, help companies complete digital transformation.

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7. Does Metaverse need blockchain?

First, let’s understand the technical characteristics of block connection. Blockchain is a traceable chain data structure that combines continuously generated information blocks in a chronological order. Distributed ledger that guarantees that the data cannot be tampered with or forged. With its own characteristics, blockchain can be used for digital assets, content platforms, game platforms, sharing economy and social platform applications. Based on its own technical characteristics, it naturally adapts to the key application scenarios of the meta universe.

Orient Securities believes that a complete, rigorous and mature technical system is needed to support the governance and incentives of Metaverse in the overall structure of Metaverse. With blockchain technology, meta-universe participants can receive rewards based on their contribution (time, money, content creation) in the meta-universe.

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8. Does the metaverse need to be decentralized?

1) The right to portability of personal information

In the era of the right to portability of personal information, users become key participants, and users take the initiative to initiate the transmission of personal information and upload them on their own, so as to practice the right to portability of personal data, and decentralization has become an indispensable condition.

2) Decentralization does not mean that there is no center and no supervision

Under the concept of decentralization, there are still more advanced nodes involved in governance or operation, which is different from the concept of abandoning the center completely in a distributed architecture. Under the concept of decentralization, effective supervision and governance can still exist.

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3) How to practice decentralization? Reference DAO

Decentralized Autonomous Organization (DAO) is an organizational form derived from the collaborative behavior of co-creation, co-construction, co-governance, and sharing based on the core ideology of the blockchain. It is a subsidiary product of blockchain after solving the trust problem.

DAO encodes the organization’s management and operating rules on the blockchain in the form of smart contracts, so that it can operate autonomously without centralized control or third-party intervention. DAO has the characteristics of full openness, autonomous interaction, decentralized control, complexity and diversity, and emergence. It can become an effective organization to deal with uncertain, diverse and complex environments.

4) How to trade in decentralization? Reference DEX

Decentralized exchanges (DEX) operate in a decentralized manner without any form of central authority. DEX does not require a third party to manage users’ assets and allows users to retain control of private keys at any time. Since DEX transactions are peer-to-peer transactions, they provide a higher level of transparency.

The world’s mainstream blockchain decentralized exchanges include Uniswap, Sushiswap , IDEX, Bancor, Kyber based on the Ethereum network, Pancakeswap based on the Binance smart chain, MDEX based on the Heco chain, etc.

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9. Does Metaverse need NFT?

1) What is NFT? One of the mainstream assets of the blockchain.

NFT (Non-fungibleToken) stands for non-fungible token, and is a token that can be used to represent the ownership of unique items. NFT tokenizes things such as artworks, collections and even real estate. They can only have one official owner at a time, and they are protected by blockchains such as Ethereum. No one can modify the ownership record or copy/paste the new NFT.

NFT has non-interchangeability, uniqueness, indivisibility, low compatibility, and item attributes. It can be applied to scenarios such as liquid mining, art trading, games/VR, and NFTization of off-chain assets, which greatly improves the efficiency of data transfer.

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2) NFT application: a potential meta-universe economic model

Due to its digital scarcity, NFT was the first to be used in collections, artworks, and game scenes.

Orient Securities believes that NFT will play a key role in the meta universe. First, the blockchain is an important technology that connects the concept of the meta universe; second, in the overall structure of the meta universe, above the infrastructure, data, and algorithm layers, and below the application layer, a complete, rigorous and mature technology is required. The system supports the governance and incentives of the meta-universe; and NFT can act as a medium for the incentive link of the meta-universe

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10. Will the Internet form change in the meta-universe era?

Orient Securities believes that based on the development of Metaverse, Internet protocols may change, and the Internet will evolve to build a credible digital base. Blockchain technology is also overcoming its own shortcomings: low transaction throughput, difficult communication with the outside world, etc.

Note: The content of this article is mainly excerpted from the Oriental Securities Research Report “Ten Questions Metaverse: How to Concretize Abstract Concepts? 》

Posted by:CoinYuppie,Reprinted with attribution to:https://coinyuppie.com/10-questions-to-make-it-clear-what-is-metaverse/
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