Toronto: In 1968, American computer scientist Ivan Sutherland predicted the future of augmented and virtual reality with his concept of the “Ultimate Display”. The Ultimate Display relied on the kinetic depth effect to create two-dimensional images that moved with its users, giving the illusion of a three-dimensional display.
While the concept of virtual reality only focuses on the creation of three-dimensional environments, the metaverse — a term coined by Neal Stephenson in his 1992 book Snow Crash — is a much broader concept that surpasses this.
While no official definition of the metaverse truly exists, science and technology reporter Matthew Sparkes provides a decent one. He defines the metaverse as “a shared online space that incorporates 3D graphics, either on a screen or in virtual reality.” Since the term was coined, the idea of the metaverse has remained more of a fictional concept than a scientific one. However, with technological advancements in recent years, the metaverse has become more tangible.
Much of the recent hype happened after Mark Zuckerberg made the announcement to rename the Facebook brand to Meta. Many retailers have since jumped aboard the metaverse train.
Nike recently filed multiple trademarks allowing them to create and sell Nike shoes and apparel virtually. JP Morgan opened their first virtual bank branch. Samsung recreated their New York City flagship store in the virtual browser-based platform Decentraland, where they are launching new products and creating events.