The logic behind the explosion of the Metaverse, you must know

Do not blow or black, reveal the secret of the Metaverse

As if overnight, “everything can be Metaverse”.

The unfamiliar concept of the Metaverse carries a huge force, smashing people’s previous knowledge and experience of the Internet, and then mixing a bunch of newer terms and technologies to show us a brand new virtual world.

So, what exactly is the Metaverse? What is the logic behind the rise of the Metaverse? How should we rationally view the Metaverse?

At the “Metaverse Summit” co-hosted by Titan Media and CKGSB, Li Yang, an associate professor of marketing at CKGSB, shared the theme of “Metaverse and the Real World”, hoping to inspire you.

The logic behind the explosion of the Metaverse, you must know

Executive Academic Director of the MBA Program Executive Academic Director of the Executive Education Program Academic Executive Director of the Cheung Kong Graduate School of Business Associate Professor of Marketing Li Yang

1. What is the Metaverse?

The term Metaverse has attracted widespread attention around the world, but this concept has just emerged, and we need to look at new popular terms dialectically and rationally.

The Metaverse is made up of two words: META and VERSE. META has the meaning of “transcendence” and “after” as a prefix. For example, Metaphysics is translated as “metaphysics”. Therefore, Metaverse can also be translated as super-universe or post-universe.

So what exactly is the Metaverse? What is not a Metaverse? This is a difficult topic to distinguish.

1. Must wear VR glasses is the Metaverse? Meta’s main business is the Metaverse?

2. Is reading Jin Yong’s martial arts novels a Metaverse? Is playing Genshin Impact a Metaverse?

3. Is Douyin a Metaverse? Is buying and selling Bitcoin and NFT a Metaverse?

The Metaverse depicts a future that could be many years from now, when virtual numbers dominate real life.

For example, when the image of a person’s digital avatar is more important than what clothes and makeup to wear in the real world.

That may be the beginning of the Metaverse, and we are far from that stage, so we must look at this issue objectively and rationally.

2. Why is the Metaverse so popular?

Why is the Metaverse being widely spread at this time?

The driving force behind it is both social and technological.

As early as the 1990s, Mr. Qian Xuesen, a famous scientist, has paid attention to virtual reality, and proposed the concept of “spiritual realm”, which is similar to the Metaverse. He feels that “spirit” can perform better than the immersive “presence”. Touch the meaning of virtual reality.

In a sense, the Metaverse already has some prototypes, such as Tencent’s QQ show.

Many years ago, Tencent upgraded its business model from a simple social network model to a way of creating a virtual ecosystem by selling virtual items. Since then, Tencent’s business model and financial model have undergone fundamental changes.

We can see the shadow of the Metaverse from the QQ show. QQ show is a virtual, spiritual world, purely based on the Internet, giving people space for creation and freedom of expression. At the same time, it also has its own payment method, Q coins, forming a small Metaverse closed-loop ecology, and young people are keen on it.

When it comes to the Metaverse, everyone immediately thinks of “Ready Player One”, but I think of “Inception”. The male protagonist comes to the place where the poor live and finds that they gather together, drink the potion and dream what they want, and the poor do it. The rich man’s dream, the legless handicapped dream of being able to walk.

The logic behind the explosion of the Metaverse, you must know

For those who are dissatisfied with reality, dreams become the most real reality.

This is also the most attractive part of the Metaverse. In addition to the high-tech stars and seas, it has given some people who are dissatisfied with reality a controllable dream that can surpass reality.

The epidemic is also a catalyst for the virtual economy.

Yuval Harari, author of A Brief History of Humanity, once said:

In a few decades, when people look back at history, if they remember the new crown epidemic, what they remember is not the epidemic itself, but “Oh, it was from then on, the world was completely digital.”

Due to the spread of the first wave of the epidemic in European and American countries, people generally work from home to a higher degree, and have a deeper understanding of the virtual economy and online culture. Big Internet companies such as Microsoft, Twitter, and Facebook even allow their employees to work from home permanently.

When it comes to these big companies, monopoly is an unavoidable problem.

Regardless of China or the United States, digital technology has always been dominated by several big Internet companies, and the industry has named it “Walled Garden”.

In fact, walled gardens are not the problem, too few walled gardens are the problem.

When a large company develops to a certain stage through various advantages in technology, capital, and scale, it will naturally touch the red line of anti-monopoly, and public opinion will naturally dislike the monopoly organization that has huge resources.

In this context, the Metaverse came into being, becoming a new opportunity for large companies to make transformations and divert public attention.

3. How far is the Metaverse from us?

In order to create a “reality” comparable to the real world, the Metaverse needs to focus not only on the human body’s “five senses” (sight, hearing, taste, touch, feeling), but also the reality of the environment and the reality of social experiences.

This requires different cutting-edge technologies behind the scenes, involving VR (Virtual Reality), AR (Augmented Reality) technology, as well as big data, transmission technology, edge computing, cloud computing, graphics computing, AI (artificial intelligence) and so on.

It requires a high degree of integration of various cutting-edge related technologies to be possible, but it seems that we are far from reaching this stage.

The following technologies may become the underlying logic of the Metaverse:

low-code era

With the advent of the low-code era, we do not need to write code line by line, but can create by dragging and dropping modules.

According to consulting firm Gartner Gartner, half of the world’s medium and large enterprises have begun to use low-code low-code, codeless no-code and serverless serverless platforms.

machine intelligence

Promethean AI (Prometheus Artificial Intelligence Company) works with digital artists to help them build code-free virtual worlds, allowing artists to focus on ideas and problem solving, while letting machines take on a lot of mundane, repetitive, and non-creative work.

digital twin

Digital twin was originally called technical simulation, involving many basic disciplines.

Such as real-time ray tracing, real-time physics simulation, real-time IoT data transmission, etc.

Taking real-time ray tracing as an example, the main reason why we see some pictures is more real and some are not real, the main reason is light.

The light we see in reality not only comes from the sun and lights, but also includes the brightness formed by various light sources through reflection and refraction to the surface of objects.

Whether the refraction and reflection of light can be calculated clearly is a very complex data problem involving mathematics, physics and many other disciplines.

Blockchain boom

The arrival of blockchain seems to provide a possible solution to the antitrust problem, especially in recent years, the development of smart contracts and non-fungible tokens has brought some joy to people.

Smart contracts are decentralized, trustless, secure, and transparent applications based on Ethereum, including record storage, digital asset confirmation, platform governance, insurance products, and supply chain automation.

Non-fungible currency (NTF) can realize decentralized, trustless, programmable digital asset ownership and transaction, provide provable scarcity and provable traceability, and can be used in games, virtual assets, digital art etc.

distributed network

The development of distributed networks is extremely necessary for the Metaverse and virtual reality. It is difficult for 4G and 5G networks to undertake the real-time transmission of large amounts of data, and the development of communication networks is the most basic technology for the Metaverse to achieve breakthroughs.

4. “Outlet” or “Tiger’s Mouth”?

While the concept of Metaverse is hot, it also drives the rise of related concept stocks, which seems to have become an important investment outlet overnight.

But there are also voice reminders to beware of the “wind” becoming “tiger’s mouth”.

Almost every time a big concept or a global concept emerges, there will be similar capital market fluctuations, such as the blockchain bubble a few years ago and so on.

When it comes to investment, institutions with professional investment experience will pay more attention to the evidence and details of investment when making judgments, and will not be easily influenced by illusory concepts.

In addition, in the current epidemic environment, economic uncertainty is increasing, and investors need to look at the concept of bubbles more rationally and cautiously, and do not forget the basic logic of the market and economics.

There is a long way to go before realizing a true parallel virtual world. When investors bet on concepts related to the Metaverse, they must clearly recognize the hidden risks, which include not only the risk of public opinion bubbles, but also a series of issues such as economic risks, regulatory issues, and ethical constraints.

A few years ago, the blockchain was also popular in the market and capital, but it turned out that there are still many immature links that need to be improved.

In the same way, the related technologies behind the Metaverse are still in an immature development stage, and they are also facing the test of “history repeating itself”.

5. Everyone has their own “Metaverse” in their hearts

Both technology and business are ultimately about people.

China’s Generation Z is experimenting with the Metaverse. For them, online virtualization provides convenience and a better experience, and is also a tool they use to differentiate themselves from the previous generation.

The logic behind the explosion of the Metaverse, you must know

The Metaverse itself is not only technology, but also a kind of avant-garde art, representing a utopian social organization that can be immersed in to escape the pressure of reality and learning, which is very attractive to the young generation with strong blood, but what they like Whether it is correct or not can only be judged by history.

The Metaverse is a very grand but also very vague concept, and everyone has their own definition of the Metaverse in their hearts.

In the future, the Metaverse will be a multi-dimensional “universe” based on high-speed network dispersion for users in the new era, led by a large number of content creators and technical elites.

Posted by:CoinYuppie,Reprinted with attribution to:
Coinyuppie is an open information publishing platform, all information provided is not related to the views and positions of coinyuppie, and does not constitute any investment and financial advice. Users are expected to carefully screen and prevent risks.

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