What is metaverse?
Heralding a new era of digital connectivity, the metaverse combines blockchain, AI (artificial intelligence), VR (virtual reality), and AR (augmented reality), collectively known as XR (Extended Reality) experiences.
The metaverse is a 3D virtual world accessed through a VR headset. Users can navigate this world with eye movements, voice commands, and feedback consoles. With the headset, the user can feel the immersive world and see the metaverse in action. People interact with each other via avatars and engage in activities like games, shopping, and more.
According to a report by Emergen Research, the metaverse market will reach $800 billion by 2028. Applications of metaverse technology include gaming, education, commerce, government services, social networking, and many more.
What is artificial intelligence?
Artificial intelligence refers to machines that simulate the processes of human intelligence.
Artificial intelligence is a branch of computer science that focuses on building intelligent machines capable of simulating human intelligence. Algorithms that power AI systems analyze vast amounts of training data called correlations and patterns, and use those patterns to come up with predictions. AI systems can process data much faster and more accurately than humans.
AI applications include smart assistants like Alexa, self-driving cars, chatbots, robo-advisors, spam filters, etc., and now, metaverses. As a result, how AI shapes the metaverse has become a regular topic of debate in tech circles.
How do AI, blockchain and XR work together?
The technologies involved infuse tons of potential use cases into the metaverse, leaving the imagination the only limitation.
XR created a virtual world that never existed before. Blockchain brings decentralization, eliminating central governance authority, transparency and irreversible transactions.
Non-fungible tokens (NFTs), an essential component of the metaverse, are a product of the blockchain. All objects in the metaverse – Earth, vehicles, ships, and gift items – are also essentially NFT items. Take out the NFTs and crash the metaverse.
Artificial intelligence in the metaverse enables you to overcome obstacles such as poor interactive quality and create new products such as live virtual conferencing. It adds to the intuitive interfaces and predictive capabilities of metaverses. This not only makes life easier for the avatar, but the games are more dynamic, the interactions are more engaging, and the business is more successful.
What challenges have hindered metaverses?
Metaverse technology faces challenges arising from its huge growth potential.
As technologies, virtual reality and augmented reality in the previous era had limitations such as lack of ocean view and graphical limitations. Activities on the metaverse are simply not as engaging as those in the real world or even regular online games.
Self-reliance is another aspect where many metrics have been struggling. In the initial stage of metaverses, there simply wasn’t enough technical development and footfall to create suitable use cases to keep the economy afloat. Thanks to advances in VR and AR, and the integration of metaverses with AI, use cases and, therefore, monetization options are increasing.
Like any new technology, metaverses have also been facing issues of adoption, although this is gradually changing with projects such as Decentraland (MANA), Sandbox (SAND) and now the MeetKai metaverse. In Decentraland, participants can buy and sell virtual real estate while exploring exhilarating games. Sandbox provides a gaming ecosystem that enables users to create, share and monetize gaming assets, while Meetkai has created photorealistic metaverses qualitatively better than the real world, thanks to its integration with artificial intelligence.
The advanced integration of XR and AI technologies has resulted in more attractive virtual worlds, resulting in better adoption and therefore, more revenue for all stakeholders in the ecosystem.
What is Mixed Reality Metaverse?
The fusion of artificial intelligence with XR has led to the phenomenon of mixed reality (MR) metaverse.
Until now, the interaction between human and AI was usually restricted to the B2B world. However, projects that showcase the integration of artificial intelligence into B2C are now emerging. Meetkai, for example, demonstrates how efficient life is with human-artificial intelligence integration. By utilizing AI-enabled technology, Meetkai enhances ordinary real-life experiences such as shopping, working in the office, and engaging in outdoor activities such as hiking, trekking, etc.
While lying on their beds, users can not only try on clothes in their favorite brand’s metaverse store and bargain with sellers directly but also have their purchases delivered to their doorsteps. They can also work in their virtual office using a full suite of productivity tools.
Look around and you will find an amazing number of metaverse projects in games, for example Roblox, Blocktopia, Nakamoto, s