METAVERSE AND VIRTUAL
REALITY
Submitted by
Hitesh Dahiya
2nd semester MBA CMAT

VIRTUAL REALITY
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The Metaverse is a concept that encompasses multiple
businesses – the whole industry. It’s also plausible to claim that
the Metaverse is nothing more than a catchphrase for technical
advancements in the present Internet.
Since the phrase “metaverse” became popular in October 2021,
when Facebook announced its renaming to Meta in celebration
of selling 10 million Oculus VR devices, it has typically been
interpreted to imply “using the Internet in virtual reality.” This is
an error.
Virtual reality (i.e., VR headsets) will be simply one method of
accessing the Metaverse, and others argue that it will not even
be the most essential.
The metaverse is not a single virtual world but a network
of interconnected virtual worlds.

METAVERSE AND VIRTUAL REALITY
A metaverse is a forever-lasting 3D cosmos with an online
presence that integrates many virtual places. Consider it a
futuristic version of the Internet. Due to the Metaverse, users
will be able to collaborate, socialize, play, and interact in these
3D environments.
Virtual Reality (VR) is a
computer-generated
environment with scenes and
objects that appear to be real,
making the user feel they are
immersed in their surroundings.
This environment is perceived
through a device known as a
Virtual Reality headset or

ORIGINATE OF METAVERSE
The term ‘metaverse’ was introduced by Neal Stephenson, an
American writer. But where did he exactly use this term? He used it in
a novel that was published in the year 1992. The name of the novel
was Snow Crash, a dystopian cyberpunk novel!
Now, how does this novel explain the Metaverse? It explains this term
as a 3D virtual world. Don’t think of it as some game. It is a virtual
world that lasts forever. You can also call the Metaverse a universe
where you share virtual spaces linked to each other, and you can
teleport between them.
Neal brought a weird fact to Forbes’ notice in 2011. He said that he
saw world of Warcraft as the actual Metaverse. A virtual world where
you can stay with your mates. Playing games like Minecraft or Fortnite
in 2021 could get us closer to his metaverse vision.

OPPORTUNITIES
•Business in the Metaverse. The metaverse will unlock new
opportunities for almost all businesses. ...
•Gaming. ...
•Fashion. ...
•Virtual real estate. ...
•Marketing and advertising. ...
•Creator economy. ...
•Immersive shopping experiences. ...
•Music and entertainment.

METAVERSE AND VIRTUAL REALITY
The most obvious point of comparison in a metaverse vs VR
discussion is their definition. The Metaverse is an open, shared, and
permanent virtual world that provides access to user-created 3D
virtual locations, solutions, and surroundings. On the other hand,
virtual reality is the technology for constructing three-dimensional
virtual worlds with specified functionality.
However, it is crucial to emphasize that there is no precise definition
of the Metaverse. Consequently, in the argument between virtual
reality and the Metaverse, VR has the upper hand in terms of
definition. You may be wondering why the Metaverse lacks a clear
definition when there is one right in front of us.
In this scenario, it is worth noting that there are several definitions of
the Metaverse. For example, some characterize the Metaverse as an
open, shared, and enduring digital environment, while others refer to
it as an embodied internet. Consequently, when compared to virtual
reality, only hazy depictions of the Metaverse can be found.

POTENTIAL OF OWNERSHIP
The next major distinction between the Metaverse vs virtual
reality is undoubtedly the potential of ownership. When you use
a VR system, you are essentially experiencing a system that a
brand owns. The brand owns the material in the system’s
virtual reality experiences. The only thing you have in your
possession with VR technology is the equipment.
The Metaverse, on the other hand, is an entirely different
ballgame in that it enables people to own virtual goods and
experiences. Everything you create and possess in the
Metaverse belongs to you, whether virtual real estate or an
item. Users have full ownership rights in the Metaverse.

TECHNOLOGICAL LIMITATION
Another key point to consider in the Metaverse vs virtual
reality disputes is the technological limits. When it comes to
virtual reality, there are certain restrictions. Only with
advancements in VR technologies will you be able to build more
nuanced virtual experiences. In the end, virtual reality would be
all about simulations and having fun with virtual excursions.
The Metaverse has no such constraints on the opposite end of
the scale. The Metaverse’s power is not just derived from virtual
reality technology. Like AR, blockchain, crypto, and connection
technologies, many other technologies power the Metaverse’s
features. Most importantly, the Metaverse is a vast virtual
environment that allows for incorporating new technologies to
provide greater functionality.

COMPANY WORKING ON
METAVERSE
Meta
Meta is the main company developing metaverse for users and players to be
in the vast network of real time 3D virtual worlds while maintaining identity
and payment history.
•NVIDIA
•Epic Games
•Microsoft
•Apple
•Decentraland
•Roblox corporation
•Unity software