The Metaverse, the Future of the New Digital Economy

The Metaverse as the Future of the New Digital Economy remains an ongoing topic of discussion in recent times. A Metaverse is a form of digital reality that blends elements of online gaming, social media, Augmented Reality (AR), Virtual Reality (VR), and Cryptocurrency that allow users to interact virtually.

The New Digital Economy

Digital Economy

“Metaverse” is the term used to describe the virtual Universe. Metaverse was first used in Neal Stephenson’s 1992 science-fiction novel Snow Crash.

Humans, acting as avatars, communicate with one another through software agents in a 3-D virtual space that uses real-world metaphors.

The existence of the Metaverse lets us take part in activities such as going to virtual concerts, traveling on the internet to create or view artwork, and trying on digital clothing to purchase.

Metaverse offers a massive opportunity because we can use it in various areas, including Indonesian tourism and education, social trade, and many more areas.

Metaverse Development Globally acquired attention from the public to begin when rumors circulated mid-October 2021 concerning Facebook’s new branding.

Furthermore, Facebook President Mark Zuckerberg announced the change of the name of Facebook to Meta and is focused on creating a virtual reality that combines Virtual Reality and Augmented Reality technology in the Metaverse.

In the meantime, Microsoft, as a software giant, has also utilized the hologram and is working on mixed – and Extended Reality (XR) applications through Microsoft Mesh.

Microsoft Mesh platform will result in the future blending the real world with Augmented Reality and Virtual Reality.

In addition, many international artists like Snoop Dogg, Huang Heshan, and JJ Lin are currently buying digital assets on Metaverse. Also, artists are holding virtual shows on Metaverse like Justin Bieber, Twenty One Pilots, and John Legend.

Many interactive games, like Second Life, Fortnite, Minecraft, and Roblox, can also bring excitement to the realm of the Metaverse, where users can collaborate, participate in events, or even trade real-world currency to purchase virtual currency products and services in the new digital economy.

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