2021

THE METAVERSE

ALEENA AZHAR, SAJAL QASIM, SIDRA MUMTAZ

Summary:
Context:

This piece of work is written to enable people understand the meaning of Metaverse. How the
virtual world concept turned into the idea of Metaverse. The policy behind changing the
parent name of Facebook to “meta”. Features of metaverse and misconceptions about this
word are explained pretty clearly .The way metaverse will affect the economy and market
prices .Other big companies which can build Metaverse ,standards and protocols used in this
tech along with gaming system details using Metaverse are discussed here .

Aims:

The aim of this report was to provide proper understanding of this upcoming
technology .The new emerging technology will use many different protocols and features and
will entirely change the way internet works .We basically wanted to highlight all these
features and most importantly the global impact on economy must be explained in a proper
way to the people and we have tried that approach in our report.

Methods:

The methods and findings we used in writing this report.

1-details about metaverse by Mathew ball.

2-details about change of parent company name to meta from a documentary by Mark
Zuckerberg .

3-meta web 3.0 economy and market opportunity by David Grider.

Results:

All the findings highlight that metaverse will be becoming a very important part of lives of
people regarding every aspect for example gaming, daily life chores ,experiences ,economy
and much more .

Conclusion:

This technology will provide us with a lot of exciting experiences side by side the features
seem pretty interesting ,lives would be made easier, but we may end up falling prey to virtual
reality rather than reality.

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  TABLE OF CONTENTS
GLOSSARY............................................................................................................................................... 4
INTRODUCTION:.................................................................................................................................... 7
Background............................................................................................................................................ 7
CHAPTER 1:............................................................................................................................................. 8
FEATURES AND MISCONCEPTIONS ABOUT METAVERSE:........................................................8
1.1-Features of metaverse:......................................................................................................................... 8
1.2-Misconceptions about metaverse:..................................................................................................... 10
CHAPTER 2:........................................................................................................................................... 11
WHY DOES THE METAVERSE MATTER?......................................................................................11
CHAPTER 3:........................................................................................................................................... 11
THE CHASSIS OF METAVERSE......................................................................................................... 11
3.1-Concurrency Infrastructure.............................................................................................................. 11
3.2-Standards, Protocols, and their Adoption........................................................................................ 13
3.3-The ‘On-Ramp’ Experience.............................................................................................................. 13
3.4-Epic Games’ Epic Game Plan........................................................................................................... 15
CHAPTER 4: WHO ELSE CAN BUILD THE METAVERSE?..........................................................17
4.1-Major tech companies....................................................................................................................... 18
4.1.1-Microsoft................................................................................................................................. 18
4.1.2-Amazon................................................................................................................................... 18
4.1.3-Google...................................................................................................................................... 19
4.1.4-Apple....................................................................................................................................... 19
4.1.5-Valve :...................................................................................................................................... 20
4.1.6-Others:..................................................................................................................................... 20
4.2-Building Together.......................................................................................................................... 21
CHAPTER 5............................................................................................................................................. 21
FACEBOOK AND METAVERSE:........................................................................................................ 21
5.1-Why has Facebook changed its name to Meta?...............................................................................21
5.2- Basic service of app :.................................................................................................................... 22
5.3- Changing the name of parent company:..................................................................................... 22
5.4-Importance of Facebook after being named Meta:......................................................................23
5.5-What happens if Meta succeeds?.................................................................................................. 23
5.6-Mark Zuckerberg about Facebook and Meta:............................................................................. 23
CHAPTER 6:........................................................................................................................................... 31
THE META MARKET OPPORTUNITY.............................................................................................. 31
CHAPTER 7:........................................................................................................................................... 34
THE META WEB 3.0 ECONOMY........................................................................................................ 34
Chapter 8.................................................................................................................................................. 36
The Meta Web 3.0 Metrics...................................................................................................................... 36

 TABLE OF FIGURES
FIGURE 1 (METAVERSE-LOGO WIDE - CIRCLE PNG IMAGE | TRANSPARENT PNG FREE
DOWNLOAD ON SEEKPNG).................................................................................................7
FIGURE 2 (BALL, 2020)............................................................................................................14
FIGURE 3 (HTT3).......................................................................................................................17
FIGURE 4 PHOTO ILLUSTRATION BY PAVLO GONCHAR/SOPA IMAGES/LIGHTROCKET VIA
GETTY IMAGES (HTT)........................................................................................................22
FIGURE 5 US AVERAGE DAILY HOURS SPENT ON SELECT LEISURE ACTIVITY3
(HTT1)................................................................................................................................31
FIGURE 6 GLOBAL VIRTUAL WORLD REVENUE GROWTH4.......................................32
FIGURE 7 ILLUSTRATIVE OPEN VS CLOSED GAMING & METAVERSE EXAMPLES5
...........................................................................................................................................32
FIGURE 8 GLOBAL METAVERSE POTENTIAL TOTAL ADDRESSABLE MARKET6..33
FIGURE 9 MARKET CAP: WEB 2.0 & 3.0 METAVERSE, FACEBOOK, GAMING7........33
FIGURE 10 BLOCKCHAIN-BASED GAMING STACK8......................................................34
FIGURE 11 BLOCKCHAIN-BASED VIRTUAL ECONOMY SEGMENTS10.....................35
FIGURE 12 GLOBAL ALL TIME ACTIVE METAVERSE WALLETS11............................36
FIGURE 13 GLOBAL USERS PER SELECT CATEGORY ................................................................36
FIGURE 14 (GLOBAL ALL TIME TOTAL VALUE SPENT ON COMPLETED
METAVERSE SALES13)................................................................................................37
FIGURE 15 (GLOBAL Q3 2021 NFT VERTICALS INVESTMENT ACTIVITY)................37
GLOSSARY
1)Tangible
perceptible by touch.
2) Decentraland
is a software running on Ethereum that seeks to incentivize a global network of users to
operate a shared virtual world. Decentraland users can buy and sell digital real estate, while
exploring, interacting and playing games within this virtual world.
3) MANA
(the native token of Decentraland, with which
Users can purchase NFTs, including LAND or collectibles, and vote on economy
governance)orcreateNFTs,givingthemrealworldinteroperabilityforthevalue
of their time spent in-game.
4) NFTs
A non-fungible token is a unique and non-interchangeable unit of data stored on a
blockchain, a form of digital ledger. NFTs can be associated with reproducible digital files
such as photos, videos, and audio.
5) Prompted
encourage (a hesitating speaker) to say something.
6) Netscape
 a commercial browser. example of: browser, web browser. a program used to view HTML
documents.
7) Monetization
the action or process of earning revenue from an asset, business, etc.
8) Paradigm
a typical example or pattern of something; a pattern or model.
9) Moat
a deep, wide ditch surrounding a castle, fort, or town, typically filled with water and intended
as a defence against attack.
10) Decentralized
(of an activity or organization) controlled by several local offices or authorities rather than
one single one.
11)Ethereum
It is a decentralized, open-source blockchain with smart contract functionality. Ether is the
native cryptocurrency of the platform. Amongst.
12) Solana
It is a crypto computing platform that aims to achieve high transaction speeds without
sacrificing decentralization. It employs a bundle of novel approaches, including the “proof of
history” mechanism. Solana's native cryptocurrency is SOL, which is used to pay transaction
fees and for staking.
13) Mainstream
the ideas, attitudes, or activities that are shared by most people and regarded as normal or
conventional.
14) Accelerate
increase in rate, amount, or extent.
15) Pivot
the central point, pin, or shaft on which a mechanism turns or oscillates.
16)Annual revenue  
the money your business receives during the course of a year.
17) Portrayed
depict (someone or something) in a work of art or literature.
18) Attributes
regard something as being caused by.
19) Persistent
continuing firmly or obstinately in an opinion or course of action in spite of difficulty or
opposition.
20) Synchronous
existing or occurring at the same time.
21) Unprecedented
never done or known before.
22) Interoperability
the ability of computer systems or software to exchange and make use of information.
23) Proprietary
relating to an owner or ownership.
24) Enterprise
a project or undertaking, especially a bold or complex one.
25) Consensus
a general agreement.
26) Decentralization
the transfer of control of an activity or organization to several local offices or authorities
rather than one single one.
27) Bitcoin
a type of digital currency in which a record of transactions is maintained and new units of
currency are generated by the computational solution of mathematical problems, and which
operates independently of a central bank.
28) Virtual Reality
virtual reality (VR), the use of computer modeling and simulation that enables a person to
interact with an artificial three-dimensional (3-D) visual or other sensory environment..
29) Gold farming
(in the context of online gaming) the practice of playing a game intensively so as to amass
stocks of the game's virtual currency or other valuable items used in the game, which can
then be solid to other play.
30) Intended
planned or meant.
31) Allusion
an expression designed to call something to mind without mentioning it explicitly; an indirect
or passing reference.
32) Interpret
explain the meaning of (information or actions).
33) Outage
a period when a power supply or other service is not available or when equipment is closed
down.
34) Pervasive
(especially of an unwelcome influence or physical effect) spreading widely throughout an
area or a group of people.
35) Consequence
a result or effect, typically one that is unwelcome or unpleasant.
36) Immersive
(of a computer display or system) generating a three-dimensional image which appears to
surround the user.
37) Peering
the exchange of data directly between internet service providers, rather than via the internet.
38) Dedicate
devote (time or effort) to a particular task or purpose.
39) Quest
a long or arduous search for something.
40) Interoperability
the ability of computer systems or software to exchange and make use of information.
41) Stifling
(of heat, air, or a room) very hot and causing difficulties in breathing; suffocating.
42) Teleport
(especially in science fiction) transport or be transported across space and distance instantly.
43) Imperceptible
so slight, gradual, or subtle as not to be perceived.
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FIGURE 1 (METAVERSE-LOGO WIDE - CIRCLE PNG IMAGE | TRANSPARENT PNG FREE DOWNLOAD ON SEEKPNG)

INTRODUCTION:
Background
Technology frequently produces surprises that nobody predicts. However, the biggest
developments are often anticipated decades in advance. In 1945 Vannevar Bush described
what he called the “Memex”, a single device that would store all books, records and
communications, and mechanically link them together by association. This concept was then
used to formulate the idea of “hypertext” (a term coined two decades later), which in turn
guided the development of the World Wide Web (developed another two decades later). The
“Streaming Wars” have only just begun, yet the first streaming video took place more than 25
years ago. What’s more, many of the attributes of this so-called war have been hypothesized
for decades, such as virtually infinite supplies of content, on-demand playback, interactivity,
dynamic and personalized ads, and the value of converging content with distribution.
In this sense, the rough outlines of future solutions are often understood and, in a sense,
agreed upon well in advance of the technical capacity to produce them. Still, it’s often
impossible to predict how they’ll fall into place, which features matter more or less, what sort
of governance models or competitive dynamics will drive them, or what new experiences will
be produced. By the time Netflix launched its streaming service, much of Hollywood knew
that the future of television was online (IP TV had been deployed in the late 1999s). The
challenge was timing and how to package such a service (it took another 10 years for
Hollywood to accept all of their channels, genres and content needs to be collapsed into a
single app/brand). The popularity of video game broadcasting and YouTubers still elude
many in the media industry, as does the idea that the best way to monetize content might be
to give it away for free and charge for optional $0.99 items of no consequential value. The
acquisition of media conglomerate Time Warner by landline internet giant AOL was set in
2000 based on the idea media and tech/distribution needed to converge, but was unwound in
2009 after it failed to produce much benefit. Nine years later, it was then bought by mobile
internet giant AT&T under the same premise.
While many technologists imagined some sort of “personal computer”, its attributes and
timing were so unpredictable that Microsoft dominated the PC era that began in the 1990s
rather than the mainframe domineer IBM. And while Microsoft clearly foresaw mobile, it
misread the role of the operating system and of hardware, hence the rise of Android and iOS
globally (and Microsoft’s shift from the OS layer to the app/services one). In a similar sense,
Steve Jobs’ priorities for computing were always “right”, they were just too early and focused
on the wrong device. More broadly, the two most dominant cases of the early Internet were
instant messaging and email, and yet the importance of social apps/networks was still
unexpected until the late 2000s. And for that matter, all of the prerequisites for building
Facebook existed pre-Y2K, but Facebook didn't come along until 2005 – and even then, it
was an accident.
Since the late 1970s and early 1980s, many of those in the technology community have
imagined a future state of, if not quasi-successor to, the Internet – called the “Metaverse”.
And it would revolutionize not just the infrastructure layer of the digital world, but also much
of the physical one, as well as all the services and platforms atop them, how they work, and
what they sell. Although the full vision for the Metaverse remains hard to define, seemingly
fantastical, and decades away, the pieces have started to feel very real. And as always with
this sort of change, its arc is as long and unpredictable as its end state is lucrative.
To this end, the Metaverse has become the newest macro-goal for many of the world’s tech
giants. As I outlined in February of 2019, it is the express goal of Epic Games, maker of the
Unreal Engine and Fortnite. It is also the driver behind Facebook’s purchase of Oculus VR
and its newly announced Horizon virtual world/meeting space, among many, many other
projects, such as AR glasses and brain-to-machine interfaces and communication. The tens of
billions that will be spent on cloud gaming over the next decade, too, is based on the belief
that such technologies will underpin our online-offline virtual future.
Ultimately, you’ll find many of the same items in the offices of Big Tech CEOs. However,
the most well-worn is likely to be a copy of Neal Stephenson’s Snow Crash, which first
described and essentially coined the terms “Metaverse” and “Avatar”. And there are many
reasons why.
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CHAPTER 1:
FEATURES AND MISCONCEPTIONS ABOUT METAVERSE:
The most common conceptions of the Metaverse stem from science fiction. Here, the
Metaverse is typically portrayed as a sort of digital “jacked-in” internet – a manifestation of
actual reality, but one based in a virtual (often theme park-like) world, such those portrayed
in Ready Player One and The Matrix. And while these sorts of experiences are likely to be an
aspect of the Metaverse, this conception is limited in the same way movies like Tron
portrayed the Internet as a literal digital “information superhighway” of bits.
Just as it was hard to envision in 1982 what the Internet of 2020 would be — and harder still
to communicate it to those who had never even “logged” onto it at that time — we don’t
really know how to describe the Metaverse. However, we can identify core attributes.
The Metaverse, we think, will...
1.1-Features of metaverse:
 Be persistent – which is to say, it never “resets” or “pauses” or “ends”, it just
continues indefinitely
  Be synchronous and live – even though pre-scheduled and self-contained events will
happen, just as they do in “real life”, the Metaverse will be a living experience that
exists consistently for everyone and in real-time
 Be without any cap to concurrent users, while also providing each user with an
individual sense of “presence” – everyone can be a part of the Metaverse and
participate in a specific event/place/activity together, at the same time and with
individual agency
 Be a fully functioning economy – individuals and businesses will be able to create,
own, invest, sell, and be rewarded for an incredibly wide range of “work” that
produces “value” that is recognized by others
 Be an experience that spans both the digital and physical worlds, private and public
networks/experiences, and open and closed platforms
 Offer unprecedented interoperability of data, digital items/assets, content, and so
on across each of these experiences – your Counter-Strike gun skin, for example,
could also be used to decorate a gun in Fortnite, or be gifted to a friend on/through
Facebook. Similarly, a car designed for Rocket League (or even for Porsche’s
website) could be brought over to work in Roblox. Today, the digital world basically
acts as though it were a mall where every store used its own currency, required
proprietary ID cards, had proprietary units of measurement for things like shoes or
calories, and different dress codes, etc.
 Be populated by “content” and “experiences” created and operated by an
incredibly wide range of contributors, some of whom are independent individuals,
while others might be informally organized groups or commercially-focused
enterprises
There are a few other ideas that may be core to the Metaverse, but are not widely agreed
upon. One of these concerns is whether participants will have a single consistent digital
identity (or “avatar”) that they will use across all experiences. This would have practical
value but is probably unlikely as each of the leaders in the “Metaverse era” will still want
their own identity systems. Today, for example, there are a few dominant account systems –
but none have exhaustive coverage of the web and they often stack atop one another with
only limited data sharing/access (e.g. your iPhone is based around an iOS account, then you
might log into an app using your Facebook ID, which itself is your Gmail account).
There is also disagreement on how much interoperability is required for the Metaverse to
really be “the Metaverse”, rather than just an evolution of today’s Internet. Many also debate
whether a true Metaverse can have a single operator (as is the case in Ready Player One).
Some believe the definition (and success) of a Metaverse requires it to be a heavily
decentralized platform built mostly upon community-based standards and protocols (like the
open web) and an “open source” Metaverse OS or platform (this doesn’t mean there won’t be
dominant closed platforms in the Metaverse).
Another idea relates to the fundamental communications architecture of the Metaverse. This
is described in more detail later in the piece, but while today’s Internet is structured around
individual servers “talking” to one another on an as-needed basis, some believe the Metaverse
needs be “wired” and “operated” around persistent many-to-many connections. But even
here, there’s no consensus around exactly how this would work, nor the degree of
decentralization required.
It’s also helpful to consider what the Metaverse is often, but incorrectly, likened to. While
each of these analogies is likely to be a part of the Metaverse, they aren’t actually the
Metaverse. For example, The Metaverse is not…
1.2-Misconceptions about metaverse:
o A “virtual world” – Virtual worlds and games with AI-driven characters have
existed for decades, as have those populated with “real” humans in real-time.
This isn’t a “meta” (Greek for “beyond”) universe, just a synthetic and
fictional one designed for a single purpose (a game).
o A “virtual space” – Digital content experiences like Second Life are often
seen as “proto-Metaverses” because they (A) lack game-like goals or skill
systems; (B) are virtual hangouts that persist; (C) offer nearly synchronous
content updates; and (D) have real humans represented by digital avatars.
However, these are not sufficient attributes for the Metaverse.
o “Virtual reality” – VR is a way to experience a virtual world or space. Sense
of presence in a digital world doesn’t make a Metaverse. It is like saying you
have a thriving city because you can see and walk around it.
 A “digital and virtual economy” – These, too, already exist. Individual games such
as World of Warcraft have long had functioning economies where real people trade
virtual goods for real money, or perform virtual tasks in exchange for real money. In
addition, platforms such as Amazon’s Mechanical Turk, as well as technologies such
as Bitcoin, are based around the hiring of individuals/businesses/computational power
to perform virtual and digital tasks. We are already transacting at scale for purely
digital items for purely digital activities via purely digital marketplaces.
 A “game” – Fortnite has many elements of the Metaverse.
It (A) mashes up IP; (B) has a consistent identity that spans multiple closed platforms;
(C) is a gateway to a myriad of experiences, some of which are purely social; (D)
compensates creators for creating content, etc. However, as is the case with Ready
Player One, it remains too narrow in what it does, how far it extends, and what
“work” can occur (at least for now). While the Metaverse may have some game-like
goals, include games, and involve gamification, it is not itself a game, nor is it
oriented around specific objectives.
 A “virtual theme park or Disneyland” – Not only will the “attractions” be infinite,
they will not be centrally “designed” or programmed like Disneyland, nor will they all
be about fun or entertainment. In addition, the distribution of engagement will have a
very long tail
 A “new app store” – No one needs another way to open apps, nor would doing so “in
VR” (as an example) unlock/enable the sorts of value supposed by a successor
Internet. The Metaverse is substantively different from today’s Internet/mobile
models, architecture, and priorities.
 A “new UGC platform” – The Metaverse is not just another YouTube or Facebook-
like platform in which countless individuals can “create”, “share”, and “monetize”
 content, and where the most popular content represents only the tiniest share of
overall consumption. The Metaverse will be a place in which proper empires are
invested in and built, and where these richly capitalized businesses can fully own a
customer, control APIs/data, unit economics, etc. In addition, it’s likely that, as with
the web, a dozen or so platforms hold significant shares of user time, experiences,
content, etc.
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CHAPTER 2:
WHY DOES THE METAVERSE MATTER?
Even if the Metaverse falls short of the fantastical visions captured by science fiction authors,
it is likely to produce trillions in value as a new computing platform or content medium. But
in its full vision, the Metaverse becomes the gateway to most digital experiences, a key
component of all physical ones, and the next great labor platform.
The value of being a key participant, if not a driver, of such a system is self-evident – there is
no “owner” of the Internet today, but nearly all of the leading Internet companies rank among
the 10 most valuable public companies on earth. And if the Metaverse does indeed serve as a
functional “successor” to the web — only this time with even greater reach, time spent, and
more commercial activity — there’s likely to be even more economic upside. Regardless, the
Metaverse should produce the same diversity of opportunity as we saw with the web – new
companies, products and services will emerge to manage everything from payment
processing to identity verification, hiring, ad delivery, content creation, security, and so forth.
This, in turn, will mean many present-day incumbents are likely to fall.
More broadly, the Metaverse stands to alter how we allocate and monetize modern resources.
For centuries, developed economies have transformed as the scarcity of labor and real-estate
waxed and waned. Under the Metaverse, would-be laborers who choose to live outside cities
will be able to participate in the “high value” economy via virtual labor. As more consumer
spending shifts to virtual goods, services, and experiences, we’ll also see further shifts in
where we live, the infrastructure that’s built, and who performs which tasks. Consider, for
example, “Gold Farming”. Not long after in-game trade economies emerged, many “players”
– often employed by a larger company and typically in lower-income countries — would
spend a workday collecting digital resources for sale inside or outside the game. These sales
were typically to higher-income players in the West. And while this “labor” is typically
menial, repetitive, and limited to a few applications, the diversity and value of this “work”
will grow as the Metaverse itself does.

CHAPTER 3:
THE CHASSIS OF METAVERSE
The Metaverse will require countless new technologies, protocols, companies, innovations,
and discoveries to work. And it won’t directly come into existence; there will be no clean
“Before Metaverse” and “After Metaverse”. Instead, it will slowly emerge over time as
different products, services, and capabilities integrate and meld together. However, it’s
helpful to think of three core elements that need to come into place.
3.1-Concurrency Infrastructure
At a foundational level, the technology simply does not yet exist for there to be hundreds, let
alone millions of people participating in a shared, synchronous experience.
Consider Fortnite’s 2019 Marshmello concert. An astounding 11MM people experienced the
event in real time. However, they did not do so together. In truth, there were more than
100,000 instances of the Marshmello concert, all of which were slightly out of sync and
capped at 100 players per instance. Epic can probably do more than this today, but not into
several hundred, let alone millions.
Not only does the Metaverse require infrastructure that currently does not exist, the Internet
was never designed for anything near this experience. After all, it was designed to share files
from one computer to another. As a result, most of the Internet’s underlying systems are
oriented around one server talking to one other server or an end-user device. This model
continues today. There are billions of people on today’s Facebook, for example, but each user
shares an individual connection with the Facebook server, not with any other user.
Accordingly, when you access content from another user, you’re really just pulling the latest
information that Facebook is giving you. The earliest form of pseudo-synchronous programs
were text chats, but you’re still just pushing largely static data to a server and pulling the
latest information from it when/where/how/as it’s needed. The Internet simply wasn’t
designed for persistent (versus continuous) communication, let alone persistent
communication that is synchronized in precise real time to countless others.
To operate, the Metaverse requires something more akin to video conferencing and video
games. These experiences work because of persistent connections that update each other in
real-time and with a degree of accuracy that other programs don’t generally need. However,
they tend not to have high levels of concurrency: most video chat programs max out beyond a
few people, and once you hit 50, you tend to need to “live stream” a broadcast to your
viewers, rather than share a two-way connection. These experiences neither need to be, nor
are they, exactly live.
To this end, part of the reason that the battle royale genre is only recently popular in video
games now is because it’s only recently possible to play live with so many other users.
Although some games with highest concurrencies have existed for more than twenty years,
such as Second Life or Warcraft, they essentially spoofed the experience by “sharding” and
splitting users into different “worlds” and servers. Eve Online, for example, can technically
have more than 100,000 players “in the same game”, but they are split across different
galaxies (i.e. server nodes). As a result, a player only really sees or interacts with a small
handful of other players at any one time. In addition, traveling to another galaxy means
disconnecting from one server and loading another (which the game is able to narratively
“hide” by forcing players to jump to light speed in order to cross the vastness of space). And
if/when Eve Online did get to battles involving hundreds of users, the system slowed to a
crawl. And this still worked because the gameplay dynamic was based on predominantly
large-scale, pre-planned ship-based combat. If it was a “fast-twitch” game such as Rocket
League or Call of Duty, these slowdowns would have been unplayable.
A number of companies are working hard to solve this problem, such as the aptly named
Improbable. But this is an enormous computational challenge and one that fights against the
underlying design/intent of the Internet.
3.2-Standards, Protocols, and their Adoption
The Internet as we experience it today works because of standards and protocols for visual
presentation, file loading, communications, graphics, data, and so forth. These include
everything from consumer-recognizable .GIFs filetypes to the websocket protocol that
underlies almost every form of real-time communication between a browser and other servers
on the internet.
The Metaverse will require an even broader, more complex, and resilient set of S&Ps. What’s
more, the importance of interoperability and live synchronous experiences means we’ll need
to prune some existing standards and “standardize” around a smaller set per function. Today,
for example, there are a multitude of image file
formats: .GIF, .JPEG, .PNG, .BMP, .TIFF, .WEBP, etc. And while the web today is built on
open standards, much of it is closed and proprietary. Amazon and Facebook and Google use
similar technologies, but they aren’t designed to transition into one another — just as Ford’s
wheels aren’t designed to fit a GM chassis. In addition, these companies are incredibly
resistant to cross-integrating their systems or sharing their data. Such moves might raise the
overall value of the “digital economy”, but also weakens their hyper-valuable network effects
and makes it easier for a user to move their digital lives elsewhere.
This will be enormously difficult and take decades. And the more valuable and interoperable
the Metaverse is, the harder it will be to establish industry-wide consensus around topics such
as data security, data persistence, forward compatible code evolution, and transactions. In
addition, the Metaverse will need altogether new rules for censorship, control of
communications, regulatory enforcement, tax reporting, the prevention of online
radicalization, and many more challenges that we’re still struggling with today.
While the establishments of standards usually involve actual meetings, negotiations, and
debates, the standards for the Metaverse won’t be established upfront. The standard process is
much messier and organic, with meetings and opinions changing on an ad hoc basis.
To use a meta analogy for the Metaverse, consider SimCity. In ideal circumstances, the
“Mayor” (i.e. player) would first design their mega-metropolis, then build from day one to
this final vision. But in the game, as with real life, you can’t just “build” a 10MM person city.
You start with a small town and optimize for it first (e.g. where the roads are, schools are,
utility capacity, etc.). As it grows, you build around this town, occasionally but judiciously
tearing down and replacing “old” sections, sometimes only if/when a problem (insufficient
supply of power) or disaster hits (a fire). But unlike SimCity, there will be many mayors, not
one — and their desires and incentives will often conflict.
We don’t know exactly what the Metaverse will need, let alone which existing standards will
transfer over, how, to what effects, when, or through which applications and groups. As a
result, it’s important to consider how the Metaverse emerges, not just around which
technological standard.
3.3-The ‘On-Ramp’ Experience
Just as the standards for the Metaverse can’t simply be “declared”, consumers and businesses
won’t embrace a would-be proto-Metaverse simply because it’s available.
Consider the real world. Just making a mall capable of fitting a hundred thousand people or a
hundred shops doesn’t mean it attracts a single consumer or brand. “Town squares” emerge
organically around existing infrastructure and behaviors, to fulfill existing civilian and
commercial needs. Ultimately, any place of congregation — be it a bar, basement, park,
museum or merry-go-round — is attended because of who or what is already there, not
because it’s a place in of itself.
The same is true of digital experiences. Facebook, the world’s largest social network, didn’t
work because it announced it would be a “social network”, but because it emerged first as a
campus hot-or-not, then became a digital yearbook turned photo-sharing and messaging
service. As with Facebook, the Metaverse needs to be “populated”, rather than just
“populable”, and this population must then fill in this digital world with things to do and
content to consume.
This is why considering Fortnite as a video game or interactive experience is to think too
small and too immediately. Fortnite began as a game, but it quickly evolved into a social
square. Its players aren’t logging in to “play”, per se, but to be with their virtual and real-
world friends. Teenagers in the 1970s to 2010s would come home and spend three hours
talking on the phone. Now they talk to their friends on Fortnite, but not about Fortnite.
Instead, they talk about school, movies, sports, news, boys, girls and more. After all, Fortnite
doesn’t have a story or IP – the plot is what happens on it and who is there.
Furthermore, Fortnite is rapidly becoming a medium through which other brands, IP, and
stories express themselves. Most famously, this includes last year’s live Marshmello concert.
However, such examples have rapidly expanded since. In December 2019, Star Wars: The
Rise of Skywalker released a clip of the hotly-anticipated film exclusively in Fortnite as part
of a larger, in-game audience-interactive event that included a live mocap interview with
director J.J. Abrams. What’s more, this event was explicitly referenced in the opening
moments of the film. The band Weezer produced a bespoke island where fans could get an
exclusive first listen to their new album (while dancing with other “players”. Fortnite has
also produced several themed “limited-time modes” involving the likes of Nike’s Air Jordan
and Lionsgate’s John Wick film series. In some cases, these “LTMs” transform part of
Fortnite’s map into a mini-virtual world that, when entered, changes the aesthetics, items and
playstyle of the game to resemble another. This has included the universe of the game
Borderlands, Batman’s hometown of Gotham, and the old west.

FIGURE 2 (BALL, 2020)

 To this end, Fortnite is one of the few places where the IP of Marvel and DC intersects.
You can literally wear a Marvel character’s costume inside Gotham City, while interacting
with those wearing legally licensed NFL uniforms. This sort of thing hasn’t really
happened before. But it will be critical to the Metaverse.

More broadly, a whole sub-economy on Fortnite has emerged where “players” can build (and
monetize) their own content. This can be as small as digital outfits (“skins”) or dances
(“emotes”). However, it has rapidly expanded into creating all new games and experiences
using Fortnite’s engine, assets, and aesthetics. This includes everything from simple treasure
hunts, to immersive mash-ups of the Brothers Grimm with parkour culture, to a 10-hour sci-fi
story that spans multiple dimensions and timelines. In fact, Fortnite’s Creative Mode already
feels like a proto-Metaverse. Here, a player loads their avatar — one specific to them and
which is used in all Fortnite-related experiences — and lands in a game-like lobby and can
choose from thousands of “doors” (i.e. space-time rifts) that send them to one of thousands of
different worlds with up to 99 other players.
This speaks to the longer term-vision for the game, one that creative director Donald Mustard
is increasingly clear about. Fortnite isn’t the Metaverse, but nothing is closer to the
Metaverse today in spirit and it is clear how the “game” might eventually underpin one.

3.4-Epic Games’ Epic Game Plan

The best example of Fortnite’s potential is demonstrated by its ability to persuade many
supposed competitors into cooperation (or early “interoperability”) with one another. Today,
Fortnite works across each major entertainment platform – iOS, Android, PlayStation,
Nintendo, PC, Xbox — allowing full cross-play that spans multiple identity/account systems,
payment methods, social graphs, and typically closed ecosystems. For years, this was heavily
resisted by the major gaming platforms as they believed that enabling such an experience
would undermine their network effects and reduce the need to buy their proprietary hardware.
As a result, a friend with Call of Duty on PlayStation could never play with their friend with
Call of Duty on Xbox, even though both Sony and Microsoft knew they wanted to.
Similarly, it’s unusual for IP owners to allow their characters and stories to be intermingled
with other IP. This does happen from time to time (e.g. there are several Marvel v DC comic
book crossovers and video games). But it’s particularly rare to see it crossed over in an
experience they don’t control editorially, let alone one based around unpredictability (not
even the creative team behind Fortnite knows what it will do in 2021) and with such a wide
range of IP.
This organic evolution can’t be overemphasized. If you “declared” your intent to start a
Metaverse, these parties would never embrace interoperability or entrust their IP. But
Fortnite has become so popular and so unique that most counterparties have no choice but to
participate – in fact, they’re probably desperate to integrate into the “game” – just as P&G
can’t say “eh, Facebook isn’t for us”. Fortnite is too valuable a platform.
At the same time, Epic is bringing far more than a plausible on-ramp to its efforts to build the
Metaverse. In addition to operating Fortnite — which was in theory a side project — Epic
Games also owns the second largest independent gaming engine, Unreal. This means
thousands of games already operate on its “stack” of tools and software (to simplify things),
making it easier to share assets, integrate experiences, and share user profiles. Over time, the
sophistication of Epic’s gaming engine has grown so significant it now powers a variety of
traditional media experiences. Disney’s The Mandalorian was shot and fully rendered in
Unreal, with director Jon Favreau able to literally enter its digital sets to frame a shot and
position characters. If Disney so chooses, audiences could freely investigate much of these
sets — most of the environment and assets already exist. And outside film and TV, Unreal is
increasingly being used for live events, too: Unreal powers Fox Sports’s NASCAR set, for
example.
Still, the Metaverse requires everyone to be able to create and contribute ‘content’ and
‘experiences,’ not just well-staffed corporations and technically skilled individuals trying to
make games or movies. To this end, Epic acquired the company Twinmotion in April of last
year. The company was/is focused not on VFX engineers or game designers, but on offering
intuitive, icon-based software that enables “architecture, construction, urban planning and
landscaping professionals” to produce realistic, immersive digital environments based in
Unreal “in seconds”. According to Epic Games Founder/CEO Tim Sweeney, this means that
there are now three ways to create in Unreal: the standard “coding” engine itself, the more
simplified and “visual” Twinmotion, and Fortnite Creative Mode for those with no
experience in programming and design. Over time, each option is likely to become more
capable, easier to use and integrated.
Another increasingly important part of Epic’s offering is its “Online Services” suite, which
allows developers to immediately support cross-play across Sony + Microsoft + Nintendo +
PC + iOS + Android and leverage Epic’s account systems/social graph (which has 1.6B
player connections). This itself isn’t that unique — Microsoft spent $400MM acquiring
PlayFab and millions more to support Xbox Live, while Amazon has bought both
GameSparks and GameLift in order to sell services to game developers that need lots of
servers and tools for their online games to work. Valve doesn’t offer server infrastructure, but
its Steamworks solution gives developers match-making and account services for free — but
only for the Steam Store, Valve’s core business. This reveals Epic’s play with Online
Services. Unlike today’s market leaders, Epic doesn’t charge. It’s also available free to any
engine, any platform, and any game. And it operates at the scale of Fortnite’s player network,
allowing any title to leverage the world’s largest player graph to kickstart their userbases.
There is obviously value in such an offering, but to Epic, it is “more valuable if free” as it
extends the company’s already enormous social graph, makes it much easier for more games
to “talk to” one another, and enables players to more seamlessly jump from experience to
experience. All of this, too, diminishes Epic’s reliance upon Fortnite when it comes to
building the Metaverse. And while Epic Online Services are still in private beta, the company
has suggested it will be publicly available in Q2 2020 and should support “hundreds or
thousands of games in 2020”. Note, too, that this all reduces Epic’s reliance on Fortnite in its
long-term efforts to build the Metaverse.
FIGURE 3 (HTT3)

Epic also operates one of the largest (albeit a still small) digital game store – which means
players already access a wide variety of digital content and experiences through Epic. Few
consumers were clamoring for greater fragmentation of digital content, and most were
reasonably happy with market leader Steam. However, Epic Games Founder/CEO Tim
Sweeney has been vocal about the fact that today’s standard 30% commissions for digital
content sales (e.g. iOS or Amazon or Google Play) are not just usurious, they prevent the
creation of a real digital world economy. Just imagine, for example, if credit card fees
weren’t 0.5-2.5% but up to 60-20x as much; whole sectors of the physical economy wouldn’t
be able to operate (such as a coffee shop or grocery store). To this end, Epic charges only
12% (which includes the 5% Unreal licensing fee, too, making it only 7% for many
customers). Notably, rumors persist that Sweeney had fought for even lower fees but settled
with his board at 12% – a sum he himself admits doesn’t always cover operating costs. This
doesn’t mean there isn’t an overall business here – and operating a storefront will doubtlessly
help build the Metaverse – but Sweeney’s efforts seem much broader. He openly implores
Google and Apple, which generate several thousand times the revenue of Epic’s fledgling
store, to match Epic’s rates.
___________________________________________________________________________

CHAPTER 4: WHO ELSE CAN BUILD THE METAVERSE?

Although the Metaverse has the potential to succeed the Internet as a computing platform, its
underlying development process is likely to share little in common with its antecedent. The
Internet came from public research universities and US government programs. This was in
part because few in private business understood the commercial potential of a World Wide
Web, but it was also true that these groups were essentially the only entities with the
computational talent, resources, and ambitions to build it. None of this is true when it comes
to the Metaverse.
Not only is private industry fully aware of the potential of the Metaverse, it probably has the
most aggressive conviction in this future, not to mention the most cash (at least when it
comes from a willingness to fund Metaverse R&D), the best engineering talent, and greatest
desire for conquest. The major tech companies don’t just want to lead the Metaverse, they
want to own and define it. There will still be a large role for open-source projects with non-
corporate ethos — and they will attract some of the most interesting creative talent in the
Metaverse — but there are only a few likely leaders in the early Metaverse. And you’ll
recognize each one.
4.1-Major tech companies
4.1.1-Microsoft is a good example. The company has hundreds of millions of federated user
identities via Office 365 and LinkedIn, is the second largest cloud vendor in the world, has an
extensive suite of work-related software and services that span all
systems/platforms/infrastructure, clear technical experience in massive shared online
content/operations, and a set of potential gateway experiences via Minecraft, Xbox + Xbox
Live, and HoloLens. To this end, the Metaverse offers Microsoft the opportunity to reclaim
the OS/hardware leadership it ceded during the handoff from PC to mobile. But more
importantly, CEO Satya Nadella understands Microsoft, at a minimum, needs to be wherever
work happens. Having successfully adapted from enterprise to consumer, PC to mobile, and
offline to online, all while maintaining a dominant role in the “work” economy, it’s hard to
envision Microsoft won’t be a primary driver in the virtualized future of labor and
information processing.
Although Facebook CEO Mark Zuckerberg has not explicitly declared his intent to develop
and own the Metaverse, his obsession with it seems fairly clear. And this is smart. More than
any other company, Facebook has the most to lose from the Metaverse as it will build an even
larger and more capable social graph and represent both a new computing platform and a new
engagement platform. At the same time, the Metaverse also allows Facebook to extend its
reach up and down the stack. Despite several efforts to build a smartphone OS and deploy
consumer hardware, Facebook remains the one FAAMG company stuck purely at the
app/service layer. Through the Metaverse, Facebook could become the next Android or
iOS/iPhone (hence Oculus), not to mention a virtual goods version of Amazon.
Facebook’s Metaverse advantages are immense. It has more users, daily usage and user-
generated content created each day than any other platform on earth, as well as the second
largest share of digital ad spend, billions in cash, thousands of world-class engineers, and
conviction from a founder with majority voting rights. Its Metaverse-oriented assets are also
growing rapidly and now include patents for semiconductor and brain-to-machine computing
interfaces. At the same time, Facebook has a very troubled track record as a platform for
where third-party developers/companies can build sustainable businesses, as a ringleader in a
consortium (e.g. Libra), and in managing user data/trust.
4.1.2-Amazon is interesting in a few regards. Most obviously, it will always want to be the
primary place in which we buy ‘stuff.’ Whether that’s bought inside a game engine, a virtual
world, or web browser is irrelevant (it already sells inside Twitch). In addition, the company
already has hundreds of millions of credit cards, the largest share of ecommerce globally (ex-
China), is the world’s largest cloud vendor, operates numerous different consumer media
experiences (video, music, ebooks, audiobooks, video game broadcasting, etc.) and third-
party commerce platforms (e.g. Fulfilled by Amazon, Amazon Channels), is building what
they hope will be the first major gaming/rendering engine purpose-designed for the cloud
computing era, reportedly working on AR glasses, and is the leader in in-home/office digital
assistants.
More importantly, Founder/CEO Jeff Bezos feels very strongly about underlying
infrastructure plays. The web, for example, runs on AWS (Amazon’s best business). 80% of
its revenue is actually via “Fulfilled by Amazon,” where the company sells, packages, and
delivers products sold by other businesses, instead of Amazon buying and then selling the
inventory directly (like most retailers). And while the goal of Elon Musk’s private aerospace
company, SpaceX, is to colonize mars, Bezos has been clear his goal with Blue Origin is to
facilitate the buildout of space infrastructure similar to early web protocols and his AWS, so
that “we could build gigantic chip factories in space and just send little bits down.” To this
end, Amazon is likely to be more supportive of a truly “open” Metaverse than any other
FAAMG company — it doesn’t need to control the UX or ID because it benefits from
enormous increases in back-end infrastructure usage and digital transactions.
4.1.3-Google
The Internet is a mine of data and the Metaverse will have both more data and perhaps
greater returns on it than today’s web. And no one monetizes this data better at global scale
than Google. In addition, the company is not just the market leader in indexing both the digital
and physical world (nearly 10,000 employees contribute to its mapping initiatives), but it is
also the most successful digital software and services company outside of China. It also
operates the most used operating system on earth (Android), as well as the most open of the
major consumer computing platforms. Though unsuccessful, Google was first to really run
after the wearable computing opportunity via Google Glass, and is making an aggressive
move into digitizing the home via Google Assistant, its Nest suite of products and FitBit.
Accordingly, the Metaverse is likely the only initiative that can unite all of Google’s
sprawling investments to date, from edge computing on Stadia, to Project Fi, Google Street
View, its extensive purchases of dark fiber, wearables, virtual assistants and more.
4.1.4-Apple is unlikely to drive or operate the underlying Metaverse. True, it operates the
second largest computing platform of the modern era (and by far the most valuable one), as
well as the largest game stores on the planet (which also means it pays more to developers
than anyone else on earth). In addition, the company is investing heavily into AR devices and
“connective tissue” that will aid the Metaverse (e.g. beacons, Apple Watch, Apple AirPods).
However, building an open platform for creation — where everyone can access the full range
of user data and device APIs — is antithetical to Apple’s ethos and business strategy. All of
which is to say, Apple is more likely to be the dominant way the Western world engages with
Metaverse rather than the operator/driver. As with the Internet, this will probably work out
pretty well for everyone.
If the Metaverse requires a broad interplay of assets, experiences, and common APIs, Unity
will have a foundational role. This engine is used by more than half of mobile games and is
even more widely deployed in real-world rendering/simulation use cases (e.g. architecture,
design, engineering) than Unreal. And while director Jon Favreau produced Disney’s The
Mandalorian in Unreal, he also produced and shot the photo realistic Lion King in Unity. It
also operates one of the largest digital ad networks (a nice side effect of powering 10B daily
minutes of mobile entertainment). However, it’s not yet clear what role Unity will have in
driving the Metaverse. It doesn’t have a store, a user account system, or a real direct-to-
consumer experience. Most of its ancillary (i.e. non-engine or advertising) services have not
been widely adopted. In addition, most (though not all) Unity-powered games are relatively
simple mobile titles rather than those likely to serve as gateways to the Metaverse. However,
its inevitable influence over standards, playtime, and content creation are so large that it’s
difficult to imagine it won’t be acquired by and integrated into a major technology player
with a wider range of assets and advantages.
In the past, an acquisition of Unity was hard to justify. Even though the company is
enormously valuable, any would-be acquirer has to keep Unity fully platform-agnostic in
order to preserve its market share, developer support, and influence (e.g. Google couldn’t
make Unity exclusive to or best on Android/Chrome exclusive without losing hordes of
developers). This doesn’t mean turning Unity into a proprietary engine can’t be strategically
smart. The value destroyed by such a decision and the premium required to buy Unity is
likely to make such a move prohibitive. But if the goal of a Unity acquisition is to ensure a
foundational role in the new Internet, an acquirer instead has an incentive to keep the engine
open/available across platforms, and the price can easily become irrelevant.
4.1.5-Valve :Valve’s Steam is orders larger than the Epic Games Store in terms of users,
revenue, and playtime. It owns several of the most popular, long-running multiplayer games
(Counter-Strike, Team Fortress, DotA). The company also has a lengthy history in content
and monetization innovation (it was the first to experiment at scale with AAA free-to-play
games and with player-to-player marketplaces). Valve has also spent years developing and
releasing VR hardware, generates billions in profits each year, and is privately owned by a
team of technologists focused on open-source technologies with a disdain for closed
ecosystems. At the same time, Valve’s engine, Source, has seen limited adoption, and unlike
Epic, it does not seem to be corralled around uniting its capabilities and assets to create the
Metaverse.
4.1.6-Others:
While it's convenient to think of a single lead company or experience ushering in the
Metaverse, the process itself will really be led through a Cambrian explosion of different
“things” coming together (not that there can’t be a leader or big winner). To this end, there is
also a myriad of start-ups trying to build early, proto-Metaverse styled experiences.
Ubiquity6, as an example, hopes to use millions of individual content creators to “map” the
real world then build smartphone/AR/VR-accessible digital experiences atop these maps. The
similarly named Singularity6 is building a virtual world that, unlike Fortnite, is intended to
develop into a Metaverse from day one. Other companies, such as Genvid (a portfolio
company), are building SDKs that allow anyone to build server-rendered experiences that
millions can participate in together using livestreams with light client-side interactivity.
While this lacks several of the key attributes of the Metaverse today, such as individual
“presence”, it begins amassing enormous volumes of “players” into fully shared virtual
environments that aren’t currently possible via cloud or locally-rendered gaming.
Magic Leap seems to believe that by owning the hardware layer, it can be the core driver of
the Metaverse (Snow Crash author Neal Stephenson is the company’s Chief Futurist). In fact,
most of the FAAMG companies seem to believe that glasses will be a key gateway into our
digital future and are collectively investing billions into the form factor. With this in mind,
Snapchat, which boasts a large and heavily-engaged social graph and has strongly anchored
itself around cameras, glasses, location-based experiences, and digital avatars, could have a
key role in the Metaverse (especially if acquired).And for all of its uniqueness, Fortnite isn’t
even the only Fortnite — there are several other online “games” that share many of the same
attributes, behaviors, and potential. Minecraft and Roblox, for example, both boast more than
100MM monthly users (Fortnite probably has fewer) and have also been able to mash up
various intellectual properties (such as Marvel and DC). What’s more, these “games” are
even more reliant on user-generated content and user-led experiences — there is no
underlying game-like goal such as “winning” or “surviving” in Minecraft, the “game” is
creation (which isn’t to say that users haven’t created many “games” with game-like goals).
In 2019, Roblox says it will have paid out more than $100MM to its game creators around the
world (a group that ranges from single “developers” to studios of “10 or 20 people”). The
company also notes that it doesn’t even pay these developers directly — unlike the iOS app
store — they receive direct payment from users. And in the fall of 2019, Roblox launched its
“Developer Marketplace”, which allows developers to monetize not just their games, but also
the assets, plug-ins, vehicles, 3D models, terrains, and other items they produce for these
games. Meanwhile, many other games, such as Grand Theft Auto Online (which has an
estimated 50MM+ monthly active players), has added socializing-oriented modes (such as a
casino) where users can create, operate, or participate in activities purely for the sake of
“hanging out”.
4.2-Building Together
Ultimately, too much of the Metaverse remains unclear for us to have strong convictions on
who will lead it or how they’ll get us there. And in truth, it’s most likely the Metaverse
emerges from a network of different platforms, bodies, and technologies working together
(however reluctantly) and embracing interoperability. The Internet today is a product of a
relatively messy process in which the open (mostly academic) internet developed in parallel
with closed (mostly consumer-oriented) services that often looked to “rebuild” or “reset”
open standards and protocols.
To this end, it’s hard to imagine any of the major technology companies being “pushed out”
by the Metaverse and/or lacking a major role. Not only will the Metaverse grow the pie by
too much, big transitions tend to disrupt when they’re hard to see and incumbents are slow to
respond or capital constrained. None of this is true today (which doesn’t mean market share
won’t shift, or that some companies, such as Epic, won’t surge to the forefront).
At the same time, it’s likely that China’s forked Metaverse will be even more different from
(and centrally controlled compared to) the Western one. And here, the tech/media
conglomerate Tencent (which also publishes most of the Western games released in China, as
well as those of Japan’s Nintendo and Square Enix), is an obvious anchor. The company also
owns a reported 40% of Epic Games (Ball, 2020).
___________________________________________________________________________
CHAPTER 5
FACEBOOK AND METAVERSE:
5.1- Why has Facebook changed its name to Meta?
Meta is new corporate name and brand announced by Facebook. The move is intended to
highlight the firm's expanding business portfolio outside social networking, particularly as it
moves forward with ambitions to construct the so-called metaverse, a virtual environment
where people can connect, play, and work, frequently utilizing VR (virtual reality) headsets.
On October 28, 2021, after much conjecture, Facebook, the business that controls platform
such as Facebook, Instagram and WhatsApp, renamed as META. CEO of Facebook Mark
Zuckerberg said at the company’s annual Connect conference that:
“Right now, our brand is so tightly linked to one product
that it can’t possibly represent everything that we are doing today, let alone in the future.
Overtime, I hope that we are seen as metaverse company. I want to anchor our work and
identity on what we are building toward.”

Photo Illustration by Pavlo Gonchar/SOPA

Images/LightRocket
FIGURE 4 via Getty Images (htt)
5.2- Basic service of app :
It's critical to take note of that Facebook, Instagram, and WhatsApp will
all hold their names. Their administrations additionally stay same. Notwithstanding, the firm
that makes and keep up with them will presently be known as META. It is the way google
embraced another parent organization name Letters in order in 2015, to imply its
development past being just a web search tool.

5.3- Changing the name of parent company:

For instance, Meta does not wish to be known merely as a social
networking platform. Anupam Chander of Georgetown University Law center in
Washington, DC says:
“My assumption is that this is about owing the future operating system, given
Facebook experience of being an app, on other people rivals-operating system. They don’t
want to be held captive on other people’s platforms. They want people to held captive on
their platform”

In its presentation, Meta made obvious references to Apple, stating that it does not require a
large company limiting what you may do and demanding exorbitant fees. In any case, Oxford
College's Max Van Kleek is sceptical that Meta will have control over its metaverse. "Will
Meta should just supply the gadgets instead of acting as the guard? I doubt they'd abandon
any illusion that would jeopardise their position as the metaverse's primary ad source."
5.4-Importance of Facebook after being named Meta:
Following the publication of Facebook files, confidential documents that
are highlighting flaws with the corporation that were leaked by a whistleblower Frances
Haugen, there has been a continuous stream of critical news. Some have interpreted the new
name as an attempt to divert attention away from the main matter.
Taina Bucher, author of the book Facebook, at the University of Oslo in
Norway says that:
“All of the bad press and political battles it is currently fighting have to do with its
social networking products, so launching something entirely new, in their minds, is a way to
completely rebrand and start fresh, without changing much with existing problematic
products.”
5.5- What occurs assuming Meta succeeds?

One concern with Meta aiming to be the sole organization supporting the metaverse is the
critical role it would play in our lives if its vision of what is to come becomes a reality. The
organization has recently dealt with blackouts on its core apps, which have resulted in the
inability to communicate for vast portions of the globe – and if anything similar were to
happen in an all-encompassing VR realm like the metaverse, the consequences may be
immense.

"The entire show of the metaverse is so utopian and naïve," adds Bucher.
It makes a lot of sweeping assumptions about how people go about their lives." Chander says
that:
“This is yet another world that they want to conquer. Having conquered the Earth, they now
want to conquer the virtual metaverse.”
(Stokel-Walker, 2021).

5.6-Mark Zuckerberg about Facebook and Meta:

According to Mark Zuckerberg:

 From work area to web to telephone, message to pictures to video, Be that as it may,
this isn't the finish of the story. The following stage and media will be significantly
more vivid, an epitomized web in which you are drenched in the experience rather
than only survey it, and we name this the metaverse. What's more you'll have the
option to do basically all that you can imagine, incorporating associate with loved
ones, work, study, play, shop, and foster absolutely new classes that don't actually
match how we ponder PCs or telephones today. Presently, in light of the fact that
we're doing this remotely today, I figured we should make it additional exceptional.

 So we've assembled something that I believe is truly going to give you an inclination
for what this future could resemble. We believe the metaverse will eventually replace
the flexible web. We'll have the ability to feel present, as if we're in that general
region with others, regardless of how far apart we are. We'll be able to express
ourselves in fresh, ecstatic, and completely vivid ways, which will lead to a plethora
of amazing new interactions. When I give my parents a video of my children, they
will feel as if they are present in the moment with us rather than viewing through a
small window.

 At the point when you play a game with your companions, you'll feel like you're not
too far off together in an alternate world, not simply on your PC without anyone else.
What's more when you're in a gathering in the metaverse, it'll feel like you're solidly
in the room together, visually connecting, having a common feeling of room and not
simply checking out a framework of appearances on a screen. That is the thing that we
mean by a typified web. Rather than checking out a screen, you will be in these
encounters. All that we do online today associating socially, amusement, games, work
will be more normal and striking.

 This isn't tied in with investing more energy in screens. It's tied in with making the
time that we as of now spend better. Screens can't pass on the full scope of human
articulation and association. They can't convey that profound sensation of quality,
however the following rendition of the web can. That is the thing that we ought to be
pursuing. Innovation that is worked around individuals and how we really experience
the world and interface with one another. That is the thing that the metaverse is about.
Presently, the most ideal way to comprehend the metaverse is to encounter it yourself.
 Yet, it's somewhat extreme since it doesn't … Arise at this very moment, we're
beginning to get a feeling of how it could all meet up and what it could feel like. So
today we will accomplish something somewhat unique. Rather than simply zeroing in
on the current year's items, similar to a typical featured discussion, we will discuss
what's to come. In this way, we should begin by investigating what various types of
metaverse encounters could want to begin, with the main experience of all,
associating with individuals.

 Envision you put on your glasses or headset, and you're immediately in your home
space. It has portions of your actual home reproduced practically, it has things that are
just conceivable basically, and it has a staggeringly rousing perspective on whatever
you see as generally wonderful.

 Then, there are symbols, and that is the manner by which we will address ourselves in
the metaverse. Symbols will be just about as normal as profile pictures today, yet
rather than a static picture, they will be living 3D portrayals of you, your appearances,
your signals that will make cooperation a lot more extravagant than anything that is
conceivable internet based today. You'll presumably have a photograph sensible
symbol for work, an adapted one for hanging out and possibly a dream one for
gaming. You will have a closet of virtual garments for various events planned by
various makers and from various applications and encounters.

 Significantly, you ought to have the option to bring your symbol and computerized
things across various applications and encounters in the metaverse. Past symbols,
there is your home space. You will have the option to plan it to look the manner in
which you need, possibly set up your own photos and recordings and store your
computerized merchandise. You will have the option to welcome individuals over,
mess around and hang out. You'll likewise even have a work space where you can
work. Your house is your own space from which you can magically transport to
anyplace you need.Presently, discussing magically transporting, there will be a wide
range of various spaces that individuals make. Rooms like the ones that we recently
saw, yet in addition games and entire universes that you can magically transport all
through at whatever point you need. Magically transporting around the metaverse will
resemble clicking a connection on the web. It's an open norm. To open the capability
of the metaverse, there should be interoperability. Furthermore, that goes past taking
your symbol and computerized things across various applications and encounters,
which we are as of now constructing a Programming interface to help.

 You need to realize that when you purchase something or make something, that your
things will be valuable in a ton of settings and you're not going to be secured in one
world or stage. You need to realize that you own your things, not a stage. Presently
this will require not simply specialized work, similar to a portion of the significant
ventures that are happening around crypto and NFTs locally now. It's likewise going
 to take biological system building, standard setting and new types of administration.
What's more this is the sort of thing that we're truly going to zero in on.

 Security and wellbeing should be incorporated into the metaverse from the very first
moment. You'll get to conclude when you need to be with others, when you need to
impede somebody from showing up in your space, or when you need to have some
time off and magically transport to a private air pocket to be separated from everyone
else. You will have the option to bring things from the actual world into the
metaverse, practically any sort of media that can be addressed carefully, photographs,
recordings, craftsmanship, music, motion pictures, books, games, and so on. What's
more bunches of things that are actual today, similar to screens, can simply be 3D
images later on.

 You won't require an actual television. It'll simply be a $1 3D image from some
secondary school kid most of the way across the world. What's more you'll have the
option to take your things and undertaking them into the actual world as multi-
dimensional images and increased reality, as well. You will have the option to get
across these various encounters on a wide range of various gadgets, in some cases
utilizing for augmented reality so you're completely inundated, at times utilizing
increased reality glasses so you can be available in the actual world too, and here and
there on a PC or telephone so you can rapidly hop into the metaverse from existing
stages.

 There will be better approaches for connecting with gadgets that are significantly
more normal. Rather than composing or tapping, you will have the option to motion
with your hands, say a couple of words, or even get things going by pondering them.
Your gadgets will not be the point of convergence of your consideration any longer.
Rather than disrupting everything, they will provide you with a feeling of essence, the
new encounters that you're having and individuals who you're with. What's more
these are a portion of the essential ideas for the metaverse.

 And keeping in mind that this might seem like sci-fi, we're beginning to see a ton of
these innovations meeting up. In the following five or 10 years, a great deal of this
will be standard and a ton of us will make and occupying universes that are similarly
just about as point by point and persuading as this one consistently. So, despite the
fact that it's as yet quite far off, we are beginning to deal with a portion of these
fundamental ideas today. Skyline is the social stage that we are working for
individuals to make and connect in the metaverse. One piece of this is Skyline Home,
which is our initial vision for a home space in the metaverse.

 Skyline Home is the principal thing that you'll see when you put on your Journey
headset. Today, there are as of now a lot of choices to browse. What's more later on,
anybody will actually want to make one. We've quite recently called it Home as of not
long ago on the grounds that it's been missing something vital. Individuals. Before
 long, we will present a social rendition of Home, where you can welcome your
companions to go along with you as symbols. You'll have the option to hang out,
watch recordings together and bounce into applications together. Then, at that point,
there is Skyline Universes, which is the place where you can incorporate universes
and bounce into them with individuals.

 Skyline is intended to make it feasible for everybody to make, and we're now seeing
individuals fabricate some truly intriguing encounters from making new games
together to tossing impromptu get-togethers and VR that loved ones all over the
planet can join. We began carrying out Skyline Universes in beta last year, and we're
adding more individuals and more universes consistently. What's more we likewise
sent off Skyline Workrooms recently for joint effort. Past Skyline, we are additionally
making it more straightforward to speak with your companions across various layers
of the real world.

 This year we're carrying courier or calls to augmented reality. You will have the
option to welcome your companions to a courier call and before long you'll have the
option to investigate some place together or join a game. Presently, these are the sorts
of instruments that need to get assembled so you can bounce into the metaverse with
your companions from anyplace, and they will open some really astonishing
encounters. Presently how about we continue on from a portion of these fundamental
ideas and individuals simply associating with something else altogether of encounters
on amusement and gaming.

 You can begin to perceive how the metaverse will empower more extravagant
encounters by allowing us to add new layers to the world that we can collaborate with.
Makers and craftsmen will be ready to interface with their crowds in new ways and
truly bring them into these common encounters. Presently there's a great deal that
necessities to get worked to make encounters like this, yet we're chipping away at a
portion of these pieces right now with Flash AR. In the first place, we're building
instruments that makers can use to put computerized objects into the actual world and
allow individuals to connect with them.

 Also, rather than basic special visualizations, new maker abilities will uphold 3D
items that can react and respond all things considered, including a practical feeling of
profundity and impediment. In the following year, we're additionally adding the
capacity for makers to interface distinctive actual areas into durable, expanded reality
narrating encounters like directed visits or forager chases. We're additionally so
assembling a skyline commercial center where makers can sell and share 3D
computerized things. Also, our expectation is that this will empower significantly
more trade and assist with becoming the in general metaverse economy.

 Since by the day's end, it is actually the makers and engineers who will fabricate the
metaverse and make this genuine. Also, to ensure that there's a biological system that
 can support a huge number of individuals dealing with this, which is the thing that we
will have to rejuvenate this, then, at that point, it's important that makers and
designers can get by accomplishing this work. Presently, assuming you ask
individuals today what they thought the metaverse was, a many individuals would
presumably say it was an Insect Man film.

 Yet, individuals really follow the space would say it's regarding gaming. Furthermore
that is on the grounds that gaming gives a significant number of the most vivid
encounters and it is the greatest media outlet by a long shot. Gaming in the metaverse
will length from vivid encounters and dreamlands to bringing straightforward games
into our regular day to day existences through visualizations. Perhaps you'll play old
games in new ways.

 I'm eager to declare that the Rockstar Games exemplary, Fabulous Robbery Auto San
Andreas is being developed for Mission 2. This new form of what I believe is perhaps
the best game made will offer players a completely better approach to encounter this
notable open world in augmented simulation.

 What's more that is the thing that wellness will resemble in the metaverse. Presently I
believe we will see much more special encounters arising around wellness that exploit
the full drenching in intuitive preparing. Discussing which, Powerful recently added
boxing to its arrangement. Fit XR has new wellness studios coming one year from
now, and Player 22 by Rezzil, which is right now utilized by favorable to competitors
is adding directed and hand followed body weight practices soon. We're making a
wellness adornments pack that makes Mission 2 additional OK with regulator holds
for when things been extraordinary and a facial point of interaction that you can clear
the perspiration from making your meetings more agreeable. Furthermore, that is all
coming one year from now.

 Be that as it may, enough with the playing around. It's the ideal opportunity for the
widely adored. Work. Throughout the last 18 months, a great deal of us who work in
workplaces have gone remote. And keeping in mind that I miss seeing individuals I
work with, I think remote work is digging in for the long haul for a many individual.
So, we will require better instruments to cooperate. How about we investigate what
functioning in the metaverse will resemble. Suppose you could be at the workplace
without the drive, you would in any case have that feeling of quality, shared actual
space, those possibility and connections that fill your heart with joy, all available from
anyplace. Presently, envision that you have your ideal work arrangement, and you can
really accomplish beyond what you could in your standard work arrangement. What's
more on top of everything that could be continued to wear your beloved warm up
pants
 Envision a space where you can block out interruptions and spotlight on the main job.
Also, when you're prepared to share what you've been really going after, you can
introduce maybe you're not too far off with the group.

 You would already be able to see a portion of these components in skyline work
rooms, which we sent off several months prior. In the not-so-distant future, we intend
to present a room customization. So put your own logos and banners in your work
rooms. We're likewise presenting another office space in skyline home, for when you
need your ideal work area to accomplish some engaged work or simply cross a couple
of things off your daily agenda. We're additionally reporting 2D, moderate web
applications for the Mission Store. Furthermore, as another designer structures, they're
simpler to construct. So, you can drop in and keep an eye on a work project while
you're in VR utilizing administrations like Dropbox, Slack, or remain associated with
Facebook and Instagram. These beginnings bringing a greater amount of your 2D
internet providers into the metaverse. Also, as we've zeroed in additional on work,
and in all honesty, as we've heard your criticism all the more extensively, we're on
fixing things such that you can sign into Journey with a record other than your own
Facebook account.
 We're beginning to test support for work account soon. What's more we're chipping
away at making a more extensive shift here inside the following year. I realize this is
nothing to joke about for a many individuals. Not every person needs their web-based
media profile connected to this large number of different encounters. What's more I
get that, particularly as the metaverse extends. Furthermore I'll share more with
regards to that later.
 Yet, I'm really hopeful with regards to work in the metaverse. We know from the
most recent few years that a many individuals can adequately work from anyplace, yet
cross breed will be significantly more perplexing when certain individuals are
together, and others are as yet remote. So, giving everybody the instruments to be
available regardless of where they are, whether it's a multi-dimensional image sitting
close to you in an actual gathering or in a conversation occurring in the metaverse,
that will be a distinct advantage. I figure this could be extremely sure for our general
public and economy. Giving individuals admittance to occupations and more places,
regardless of where they live, will be nothing to joke about for spread freedom to
more individuals. Dropping our everyday drives will mean less time trapped in rush
hour gridlock and additional time doing things that matter. What's more it'll be really
great for the climate.
 In reality, assuming you travel for work and working in the metaverse implies that
you simply require one less flight every year, that is presumably better compared to
nearly anything more that you can accomplish for the climate. I think working in the
metaverse will feel like a tremendous advance forward. Also, these elements, similar
to the capacity to magically transport places with individuals and connect around
shared ventures and virtual space, they will be important and a great deal of different
classifications of encounters as well. So presently Marne, our Central Business
Official will take us through or some of them.
 We are moving toward this issue from two bearings. To start with, how much
innovation would we be able to pack into a couple of ordinary, extraordinary mirrors
today? What's more second, how would we take the drawn-out tech stack to do
everything and continue scaling down and further developing it until it squeezes into a
couple of typical, gorgeous glasses.

 On the primary way, last month, we sent off Beam Boycott stories, our first savvy
glasses in association with Essilor Luxottica. They're not full AR glasses yet, however
they let you take pictures and recordings, pay attention to music, and accept calls
while you're out checking out the world rather than down at your telephone.
Furthermore, we constructed driving security highlights into the glasses, similar to the
Drove light at whatever point you're recording, which telephones don't have.
Furthermore, we conveyed this in the famous Beam Boycott style for just $299. These
are on the whole strides along the way to an encapsulated web.

 However, a definitive objective here is valid expanded reality glasses. Also we've
been chipping away at that as well. Also today, I need to show you an encounter that
we've been chipping away at for Venture Nazare, which is the code name for our first
full expanded reality glasses. Here, you'll see you're visiting with companions on
WhatsApp and arranging a game evening. You can choose a game. And afterward as
you stroll over to your kitchen, you can without much of a stretch just put your game
onto the table and you're off. Also that is the sort of involvement that increased reality
will open.

 There's a great deal of specialized work to get this structure element and experience
right. We need to fit visualization shows, projectors, batteries, radios, custom silicon
chips, cameras, speakers, sensors to plan your general surroundings and more into
glasses that are around five millimeters thick. In this way, we actually have far to go
with Nazare, yet we are gaining great headway.
 I'm amped up for our future guide, however even that is still from the get-go in an
excursion that will continue for a really long time. Vivid the entire day encounters
will require a great deal of novel advancements. Also throughout the previous seven
years, our examination group has been dealing with a wide exhibit of advances that
are fundamental for these cutting edge stages. Michael Abrash drives this group, and
he will go along with me to discuss a portion of things to come innovation that we're
creating.
 Good, so we've discussed what we will have the option to see, obviously, we likewise
need to have the option to definitely get things done in the metaverse. And keeping in
mind that seeing your hands and VR and controlling virtual articles is a major
advance forward towards that, we will require a considerably simpler and more
instinctive method for communicating with virtual substance when you're in a hurry
wearing AR glasses. What's more we accept that neural connection points will be a
significant piece of how we cooperate with AR glasses, and all the more explicitly
EMG input from the muscles on your wrist joined with contextualized artificial
 intelligence. Incidentally, we as a whole have unused neuromotor pathways, and with
straightforward and maybe even intangible motions, sensors can one day make an
interpretation of those neuromotor signs into advanced orders that empower you to
control your gadgets. It's wild. So, we should investigate what EMG input will be
ready to do and where we are with it today.
 So essentially you're saying that you will have the option to send an instant message
just by contemplating moving your fingers. That will be really stunning; however I
get it's only one piece of the situation, in light of the fact that the other is artificial
intelligence that comprehends your unique circumstance and can provide you with a
basic arrangement of decisions dependent on that unique situation. So we should
investigate an artificial intelligence collaboration model that we've constructed
utilizing Undertaking Aria, our drive to speed up examination into AR glasses and
live guides that we discussed a year ago.
 I accept the metaverse is the following section for the web, and it's the following part
for our organization as well. So I've been reasoning a great deal regarding how this
affects our organization and who we are as we leave on this excursion. We're an
organization that spotlights on associating individuals. While most other tech
organizations center around how individuals interface with innovation, we center
around building innovation so individuals can communicate with one another. One
reason I began Facebook was that at the time you could utilize the web to find nearly
anything; data, news, films, music, shopping; with the exception of what is important
in particular, individuals. Today, we are viewed as an online media organization,
however in our DNA, we are an organization that forms innovation to associate
individuals. Furthermore the metaverse is the following outskirts, very much like
interpersonal interaction was the point at which we began.
 Facebook was brought into the world in a particular general setting, a school grounds,
the web. It was what we could work at an opportunity to return individuals to our
experience of innovation. However, interfacing individuals was consistently a lot
greater. From way prior on, I sat in center school classes, drawing in my journals
thoughts that I needed to code when I returned home. Furthermore despite the fact
that I didn't have the ability or innovation to construct it yet, it was consistently
evident that the fantasy was to feel present with individuals we care about. Isn't that a
definitive guarantee of innovation, to be along with anybody, to have the option to
magically transport anyplace and to make and experience anything?
 However here we are in 2021 and our gadgets are as yet planned around applications,
not individuals. The encounters we're permitted to fabricate and utilize are more
firmly controlled than any time in recent memory. What's more high charges on
inventive novel thoughts are smothering. This isn't how we are intended to utilize
innovation. The metaverse offers us a chance to change that, assuming we assemble it
well, however it will take we all; makers, engineers, organizations, all things
considered. Together, we can at last put individuals at the focal point of our
innovation and convey an encounter where we are available with one another.
Together, we can make a more open stage with more ways of finding encounters and
 greater interoperability between them. What's more together, we can open an
enormously greater innovative economy.
 I know the web story isn't clear. Each part implies new voices and novel thoughts, and
indeed, there will be difficulties and dangers and disturbance of set up interests, yet
there will likewise be openings and advantages that we can't as yet envision; for
association, for creation, for learning and bliss. We'll all have to cooperate from the
start to bring the most ideal adaptation of this future to life, a future where with
simply a couple of glasses you'll have the option to venture past the actual world and
into the sorts of encounters that we have discussed today.
 I've been reasoning a great deal about our way of life as we start this next part.
Facebook is one of the most involved items since the beginning of time. It is a
notorious online media brand, yet progressively it simply doesn't incorporate all that
we do. Instagram, WhatsApp, Courier, Journey, presently Skyline, Nazare and then
some; fabricating our web-based media applications will forever be a significant
concentration for us, however this moment our image is so firmly connected to one
item that it couldn't in any way, shape or form address all that we're doing today, let
alone later on. Over the long run, I trust that we are viewed as a metaverse
organization, and I need to secure our work and our character on the thing we are
working towards.
 We recently declared that we are rolling out a basic improvement to our organization.
We are presently checking out and covering our business as two distinct portions, one
for our group of applications and one for our work on future stages. Also as a feature
of this, it is the ideal opportunity for us to embrace another organization brand to
envelop all that we do, to reflect what our identity is and what we desire to assemble.
I'm glad to declare that beginning today, our organization is currently Meta.
 From here on out, we will be metaverse first, not Facebook first. That implies that
after some time, you won't have to utilize Facebook to utilize our different
administrations. What's more as our new image fires appearing in our items, I trust
that individuals come to realize the Meta brand and the future that we represent. I
used to adore concentrating on works of art, and the word meta comes from the Greek
word signifying "past". For my purposes, it represents that there is something else to
construct. There's dependably a next section to the story. What's more for us, that is a
story that began in an apartment and developed past whatever we might envision, into
a group of applications that individuals use to observe one to be another, to get
comfortable with themselves, to begin organizations and networks and developments
that have changed the world.
 I'm glad for what we've fabricated up until this point and amped up for what comes
next as we move past what's conceivable today, past the imperatives of screens, past
the constraints of distance and material science, and towards a future where
everybody can be available with one another, set out new open doors, and experience
new things. It's a future that is past any one organization, that will be made by us all.
We've constructed things that have united individuals in new ways.. I'm devoting our
energy to this more than some other organization on the planet. What's more to see,
then, at that point, I trust that you will go along with us, on the grounds that what's to
 come will be past anything we can envision (Meta (Facebook) Connect 2021
Metaverse Event Transcript, 2021).

CHAPTER 6:
THE META MARKET OPPORTUNITY
A developing portion of our consideration is being coordinated onto advanced exercises,
especially among more youthful ages. Today, we burn through 33% of our life (eight hours
every day) sitting in front of the television, playing computer games, or utilizing online
media. As we invest more energy in these advanced world encounters, we additionally spend
more cash in these computerized universes to further develop our social remaining in these
internet-based gatherings.

FIGURE 5
US AVERAGE DAILY HOURS SPENT ON SELECT LEISURE ACTIVITY3 (htt1)

Our public activities and games are combining to form a massive, rapidly growing virtual
items consumer economy. It is estimated that revenue from virtual game worlds would
increase from $180 billion in 2020 to $400 billion in 2025. The subsequent shift in game
designer adaption is a critical dynamic within this growth pattern. Players are gradually
shifting away from paying to play premium games and toward free games, which designers
are adapting by selling in-game items to improve continuing interaction or economic well-
being within these virtual worlds. This transition is accelerating with the transition from Web
2.0 closed corporate metaverses to Web 3.0 open crypto metaverse networks, which are:
• Web 2.0 Shut Corporate Metaverse: owned and restricted by massive technology, or;
• Web 3.0 Open Crypto Metaverse: Owned and controlled equally by global clientele. Many
players now spend money and hours of their time creating electronic wealth within Web 2.0
closed corporate metaverse planets. The problem is that most game designers do not enable
players to modify their ventures and undertakings. Designers prohibit players from
exchanging items with other players and keep these worlds closed so that gamers cannot
transfer their in-game wealth to the real market.

(GLOBAL VIRTUAL WORLD REVENUE GROWTH4) FIGURE 6

Web 3.0 open crypto

metaverse networks solve this problem by removing the capital constraints imposed on these
virtual universes by Web 2.0 stages. This new worldview enables clients to hold their
advanced resources as Non-Fungible Tokens (NFTs), exchange them with other players in
the game, and transfer them to other computerized experiences, resulting in a completely new
unrestricted economy web local economy that can be adapted in the real world. This
evolution of the "maker economy" is referred to as "Play to Acquire."
 (ILLUSTRATIVE OPEN VS CLOSED GAMING & METAVERSE EXAMPLES5)
FIGURE 7

Such consistent, genuine adjoining collaborations across advanced gatherings are directed by
clients in the metaverse. Conversely, the limited design of Web 2.0 corporate Metaverse
stages might drawback shoppers when contrasted with Web 3.0 open crypto Metaverse
organizations. Set up Web 2.0 organizations should upset their plans of action by opening up
their biological systems and wiping out cutthroat canals. We don't yet have the foggiest idea
what street Facebook will take with their Metaverse objectives, yet they, as other Web 2.0
firms, should roll out this troublesome improvement despite investor strain to satisfy
quarterly outcomes. Gaming is just one of the most quickly reachable regions where worth is
normally moving to Web 3.0, yet the Metaverse opportunity broadens well past gaming. The
Metaverse is estimated to represent a trillion-dollar revenue potential in marketing, social
business, sophisticated events, technology, and designer/maker adaption.

(GLOBAL METAVERSE POTENTIAL TOTAL ADDRESSABLE FIGURE 8

MARKET6)
The general market
capitalization of the top Web 3.0 Metaverse crypto networks is $27.5 billion. This could not
hope to compare to Facebook's $900 billion market size, the gaming area's $2 trillion market
cap, and the $14.8 trillion market worth of Web 2.0 ventures that may progress to the
Metaverse or face disturbance.

(MARKET CAP: WEB 2.0 & 3.0 METAVERSE, FACEBOOK,

GAMING7)
FIGURE 9

______________________________________________________________________________________
CHAPTER 7:
THE META WEB 3.0 ECONOMY
Cryptography in Web 3.0 Metaverses are expanding business sector virtual world economies
with an ever-increasing complicated blend of computerized items, administrations, and
resources that generates verifiable benefit for clients. Early Web 3.0 metaverse worlds were
often built on top of blockchain processing stages (layer one), with a big number of
gatherings contributing to the advancement of games and in-game items that may be freely
transferred on the blockchain..

(BLOCKCHAIN-BASED GAMING STACK8) FIGURE 10

Clients that purchase these items are starting to create another internet business experience.
Examples of some of the most well-known business activities taking place in Decentraland
and other virtual world economies today include: • Workmanship exhibitions, such as
Sotheby's, have allowed owners to showcase and sell their sophisticated NFT craftsmanship
at closeout prices.
• Business Workplaces: Crypto companies such as Binance and others have established
advanced base camps in the Metaverse where representatives may meet and collaborate.
• There are games and a club where players may win MANA.
• Promotion: advanced boards have been created by property owners to promote to game
participants at a cost.
• Supported Substance, for example, the recently announced Atari arcade, which will offer
games playable inside Decentraland..
 DJs and performers play music and put on events at music venues.
  These Internet 3.0 Metaverse worlds are required for a larger, more linked crypto
cloud economy. These decentralized conventions interact with one another and
provide a specific framework to assist Metaverse virtual economies.
 Installment Companies: Web 3.0 metaverse economies can use their own
computerized money, for example, MANA, or the money of the layer one foundation
crypto cloud economy stage on which they are built, for example, Ethereum (ETH) or
Solana (SOL).
• Decentralized Money: Decentralized trades permit clients to exchange ingame things while
loaning stages permit clients to take out credits on their virtual land.
• NFT Sovereign Products: Players may purchase NFTs from various manufacturers and
transport them to other virtual realities to show or sell.
• Decentralized Administration: Legal structures take back responsibility for computerized
economies from incorporated partnerships and allow a global organization of Web 3.0
metaverse clients to establish the rules of their collectively owned virtual area.
•Decentralized Cloud: Record storage arrangements, for example, Filecoin, provide Web 3.0
metaverse universes a decentralized framework solution for storing information, while
administrations like Livepeer give virtual universes a decentralized framework alternative for
storing information. a basis for decentralized video transcoding.
• Self-Sovereign Distinguishing proof: Information from other stages' Web local social
standing cash ("maker coins") might be brought into the Metaverse and used for character or
credit scoring (David Grider, 2021).

(BLOCKCHAIN-BASED VIRTUAL ECONOM

_______________________________

FIGURE 11
Chapter 8
The Meta Web 3.0 Metrics
The combination of these developments has resulted in another web-based experience that is
now attracting clients. Web 3.0 Metaverse virtual world clients have grown rapidly in recent
years. Today, Web 3.0 Metaverse virtual universes have around 50,000 record-breaking
clients (using dynamic wallets as intermediaries), an increase of 10x since the beginning of
2020.

FIGURE (GLOBAL ALL TIME ACTIVE METAVERSE WALLETS11) 12

FIGURE 13 (GLOBAL USERS PER SELECT CATEGORY (LOG))

In comparison to other Web 3.0 and Web 2.0 segments, Metaverse virtual world clients are
still in their early phases; but, if current development rates continue in their current trend, this
burgeoning segment might become mainstream in the following year. The Meta Market
Opportunity Computerized exercises are catching an expanding piece of our consideration,
especially among more youthful individuals. We presently spend 33% of our life (eight hours
a day) looking at the TV, playing video games, or accessing web-based media. As we engage
more energy in these advanced circumstances, we spend more money in these computerized
domains to improve our social place in these web-based gatherings.

FIGURE (GLOBAL ALL TIME TOTAL VALUE SPENT ON 14

COMPLETED METAVERSE SALES13)

In general, crypto funding totaled $8.2 billion in the second quarter of 2021, with the Internet
3.0 and NFT sectors contributing $1.8 billion. Blockchain-based gaming has attracted $1
billion in funding from more than 14 exchanges in the Internet 3.0 and NFT space, making it
the classification's most profitable subsector..
FIGURE (GLOBAL Q3 2021 NFT VERTICALS INVESTMENT ACTIVITY) 15

Capital interest in the business has recently started to increment, yet in contrast with the $10
billion that organizations like Facebook expect to contribute, and the totals that different
firms and investors might follow, the Metaverse is as yet in its beginning phases . (David
Grider, 2021).
___________________________________________________________________________

BIBLIOGRAPHY
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