Revolution through Metaverse

While the metaverse is in its infancy, it has the potential to be the next mega theme in digital media. As the underlying technologies of the metaverse mature, and new use cases emerge, the theme will disrupt all sectors.

When we speak on either investment or disruption in digital media, it essentially speaks about these top four platforms such as Facebook, Twitter, Linkedin and Youtube. Most of the investments are going towards these four platforms. Since they are having huge money, muscle power, along with strong developers networks.

The new age technology Metaverse is the first public blockchain-based open platform designed for digital assets’ initial offering and exchange. It aims to break the technical barriers of blockchain applications and to reduce the cost of developing Apps. Moreover, social media platforms are in dire need of a makeover. Their model has become outdated regarding user privacy, data security, transparency (or lack thereof), censorship resistance, etc.

To tackle these issues, Metaverse proposes a brand-new solution – decentralization! So, let’s see how Metaverse is disrupting the current social media realm.

The metaverse brings together a range of next-generation technologies, from cloud computing to artificial intelligence, blockchain, cybersecurity, the Internet of Things, virtual reality, augmented reality, and digital twins. The challenge is “With no standard definition yet, the metaverse means different things to different people, depending on the nature of their business.” This means most companies can make the metaverse be whatever they want it to be.

Social media is a growing industry, and it’s not slowing down anytime soon. From social sharing to advertising, the amount of social media platforms available for business owners is staggering. The metaverse is to bring a simulated 3D environment with avatars that resemble humans. The technology built on top of the blockchain and changed social media forever.

Going forward, Metaverse will disrupt the current social media world. The current social media platforms we use today are centralized, built on traditional distributed database technologies, and lack security. These platforms also impose severe restrictions on users when it comes to their online behaviour. In addition, they have collected unprecedented amounts of data from users, which leads to privacy concerns.

So, the opportunity is to create an ecosystem in which digital assets and value can be transferred seamlessly across different applications. Moreover, Metaverse will also allow individuals and enterprises to freely own and exchange virtual assets under the protection of the law for creating games, social networks, business platforms, and many others.

Dr. Deepak Kumar Sahu, President & CEO, VARINDIA