With Web3.0 gaining speed, metaverse is poised to bridge the gap between the physical and virtual world through a series of technologies such as augmented reality (AR), virtual reality (VR), and non-fungible tokens (NFTs). In 2019, almost 10.7 million people showed up to Marshmello’s Fortnite concert, while 45.8 million people watched Travis Scott’s Fortnite event. In conversation with FE Digital Currency, Kaavya Prasad, founder, Lumos Labs, an innovation management company, talks about the metaverse and its adoption in the digital ecosystem. (Edited Excerpts)
AI improves the metaverse’s predictability and intuitive interfaces. Due to this, interactions and games become more dynamic and interesting. Companies are launching their products in an avatar form. With the use of AI, there are ways that users can connect a physical device that will create a movement that has replicated into the avatar. Anybody with access to the metaverse may engage in multimodal interactions with the digital environment, giving them a fully immersive experience.
What is the difference between Microsoft’s metaverse vs Facebook’s metaverse?
Microsoft offers interoperability and builds an operating system (OS) infrastructure from a technical perspective. Users can build applications on that infrastructure. In terms of Meta, Facebook has made a social media metaverse that is visually appealing due to avatars.
How will data sovereignty be preserved in the metaverse?
There is a long way to go in terms of data security but its principal operating system will be blockchain, allowing users to control their data. Blockchain will act as a doorway to self-sovereignty in the metaverse. A crucial aspect of the virtual reality (VR) experience will be metaverse identity authentication. Users can effectively defend their hyper-real identity in the metaverse with the use of small-scale integration (SSI), blockchain, and Web3.0.