The metaverse is still very new and mostly misunderstood. To some it is nothing more than a buzzword for the Internet combined with some virtual reality. This interesting topic came to us from American City and Country in their article, “Report: Governments stand to benefit from ‘metaverse’ and its associated technologies.”

In the broadest terms, the metaverse is understood as a graphically rich virtual space, with some degree of realness. It is a place where people can work, play, shop and socialize. Many use the concept of presence – feeling like you are truly there – as the defining factor.

How can the metaverse impact the non-virtual world in a positive way? Many are using it for urban planning to accurately reflect a system or project. The Internet of Things (IoT) refers to devices loaded with artificial intelligence (AI) and edge computation and is another aspect of the metaverse.

Another emerging technology that is driving the metaverse is blockchain: the technology that has made cryptocurrencies and NFTs possible, which could enable the ownership of virtual items and real estate within the metaverse.

In other words, we’ve only just begun.

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Melody K. Smith

Sponsored by Access Innovations, the intelligence and the technology behind world-class explainable AI solutions.