R. Erdem Erkul, PhD @rerdemerkul
Founder and Chairman
Source: Grayscale Research, Web 3.0 Virtual Cloud Economies "THE METAVERSE" Report, November 2021
The Metaverse did not suddenly enter our
• First in Web 1.0, Netscape connected us to
the online world with a web browser.
• Then in Web 2.0, Facebook brought us
together with online communities.
• In Web 3.0, Decentraland connected us to
a virtual world with vast lands and diverse
As we progressed through these ages, the
ways we interact, the tools we use to interact,
and the environments of interaction have
expanded and diversified.
Web 2.0 and the mobile Internet have
changed how, where, when, and why we use
the Internet. Thus, it has changed the
products, services, and companies that have
shaped our business models, culture, and
Metaverse in Web 3.0 has the potential to do
‘’The Sword of Damocles’’
Sir Charles Wheatstone was the first to
describe stereopsis in 1838. His research
showed that the brain combines two photos
of the same object taken from different
points (a separate photo for each eye), giving
the image a sense of depth (3D). These
findings have been the mainstay in the
creation of virtual reality products that will
be produced later in history.
In 1935, American science fiction writer
Stanley Weinbaum presented a fictional
model for VR in his short story called
Pygmalion's Spectacles. In the story, the
main character meets a professor who
shows him a movie and invents a pair of
glasses that give the person sight, hearing,
taste, smell and touch abilities. You are in
the story, you talk to the shadows
(characters) and they answer you.
In 1956, Cinematographer Morton Heilig
created the Sensorama, the first VR
machine. It had a large cabin that could fit
up to four people at once. The machine
used a combination of multiple
technologies to stimulate all the senses: full
color 3D video, sound, vibrations, smell and
even atmospheric effects like wind. This was
done using scent generators, a vibrating
chair, stereo speakers and a stereoscopic 3D
In 1960 Morton Heilig patented the
Telesphere Mask, the first head-
mounted display (HMD). This was a
hood that provided stereoscopic 3D
images with wide vision and stereo
sound. Meanwhile, the glasses did not
have a motion tracking feature yet.
Headsight, produced in 1961, was the
world's first motion-tracking HMD.
There were built-in video screens for
each eye and a head tracking system.
However, these glasses were not used
for virtual reality; It was developed to
allow the military to monitor
dangerous situations from afar.
Ivan Sutherland, a computer scientist,
created the first virtual reality glasses called
"The Sword of Damocles" in 1968 with his
student Bob Sproull. These glasses were
connected to a computer rather than a
camera but were rather primitive as they
could only display simple virtual wireframe
shapes. It never went beyond a lab project as
it was too heavy for users to wear
comfortably; since it was suspended from the
ceiling, users had to connect to the device.
In 1975 VIDEOPLACE, the first interactive VR
platform, was exhibited at the Milwaukee
Arts Center. VIDEOPLACE, manufactured by
Krueger, used computer graphics, projectors,
video cameras, video footage, and position
sensing technologies, but not glasses or
gloves. VIDEOPLACE consisted of dark rooms
with large video screens used to surround the
user with "virtual reality".
In 1982, "Sayre gloves", the first corded
gloves, were produced by Sandin and
Defanti. They tracked hand movements
using light emitters and photocells placed
on the fingers of the gloves. When the user
moved their fingers, the amount of light
hitting the photocell changed, which in turn
converted the finger movements into
electrical signals. This may be the beginning
of the perception of body movements.
In 1985, Jaron Lanier and Thomas
Zimmerman founded VPL Research Inc.
This company is known as the first
company to sell VR glasses and gloves.
They have developed a range of VR
equipment such as DataGlove,
EyePhone HMD and Audio Sphere.
In 1991, Virtuality Group launched Virtuality.
These were VR arcade machines that players
could play in a 3D game world. Virtuality was
the first mass-produced VR entertainment
system. It contained a Virtuality pod, VR
headsets, and real-time immersive
stereoscopic 3D images. Some machines
could be linked together for multiplayer
games. There were even VR versions of some
of the very popular arcade games like Pac-
Georgia Tech and Emory University
researchers used VR to create warzone
scenarios for veterans receiving
exposure therapy for PTSD in 1997. This
method was known as "Virtual
In 2010, 18-year-old entrepreneur Palmer
Luckey created the first prototype of the
Oculus Rift headset. It had a never-before-
seen 90-degree field of view and relied on a
computer's processing power to transmit
images. This new development has fueled
and renewed the interest in VR. In 2014,
Facebook bought Oculus VR for $2 billion.
VIDEOPLACE Sayre Gloves
VPL Research Inc.
In 2015, RYOT, a media company,
showcased Confinement, a short
VR film about solitary confinement
in US prisons.
In 2015, Gloveone was successful
in its Kickstarter campaign.
These gloves allow users to feel
and interact with virtual
• In 2016, TC released the HTC VIVE SteamVR headset. This was the first commercial release of a
headset with sensor-based tracking that allowed users to move freely.
• By 2017, many companies like HTC, Google, Apple, Amazon, Microsoft Sony, Samsung were
already selling their own VR headsets.
• Forbes defined 2019 as "The Year Virtual Reality Got Real".
• Oculus Quest, Facebook's headset, has generated a lot of interest and momentum, selling $5 million
worth of content in multiple locations.
• The move from wired glasses to wireless VR glasses represented a shift within the immersive ecosystem
as wireless glasses are much easier to use for the average consumer.
• Road to VR reported that monthly connected VR headsets on Steam have surpassed 1 million for the
• Nintendo entered the VR market with the Labo: VR kit for Nintendo Switch on April 12.
• In March, Beat Saber became the first app to sell over 1 million copies in less than a year.
Even though Metaverse is behind the futuristic visions of
science fiction writers for now, it is possible to generate trillions
of value with Metaverse as a new computing platform or
Metaverse is literally becoming the gateway to most digital
experiences, a key component of all physical experiences, and
the next great business platform.
The effects of the Metaverse on our lives in the future may be as
• It can provide economic benefits for some technology and
• Thanks to the Metaverse, more and more opportunities can
be created than what we see on the Internet now.
• New companies, products, and services may emerge to
manage everything from payment processing,
authentication, recruitment, advertising, content creation to
security, and more.
• Many jobs of today will end, many will be transformed, and
many new jobs and industries will be established.
Therefore, it is extremely important to follow the developing
technologies and develop our skills accordingly.
Metaverse has been a hot topic recently after Mark
Zuckerberg announced that Facebook's name has
changed to Meta.
HOWEVER!! Metaverse is not a new concept.
The Metaverse is based on author Neal Stephenson's 1992
book called Snow Crash.
The book deals with the theory that augmented reality and
virtual reality are shared on the Internet. In recent years,
the Metaverse has grown beyond Stephenson's 1992 vision
of the immersive 3D virtual world to include properties of
physical world objects, actors, interfaces, and networks
that create and interact with virtual environments.
Today, we can identify the Metaverse; as ‘’the point where
the physical world and the virtual world meet, a world
where the sharp lines between the two worlds are
Metaverse is a combination of real and virtual worlds
and allows users to experience both to a certain extent.
Interest in Metaverse and the market value of
Metaverse are increasing rapidly. Web 3.0 Metaverse
virtual worlds have grown nearly 10x since the
beginning of 2020, reaching approximately 50,000
recurring users (active wallets as proxy).
Web 3.0 Metaverse virtual worlds create real-world value for
manufacturers, developers, and users of emerging internet-
based crypto cloud economies. The all-time total value spent on
Web 3.0 Metaverse product sales, such as virtual lands, goods,
and services, exceeded $200 million.
Source: Grayscale Research, Web 3.0 Virtual Cloud Economies "THE METAVERSE" Report, November 2021 Source: Grayscale Research, Web 3.0 Virtual Cloud Economies "THE METAVERSE" Report, November 2021
Source: Grayscale Research, Web 3.0 Virtual Cloud Economies "THE METAVERSE" Report, November 2021
When you mention Metaverse, people first think of
games that you can play with your own avatars. Of
course, we can play various games in the Metaverse
and games have an important place in the Metaverse.
HOWEVER!! The gaming industry is just one of the
areas that Metaverse provides.
Metaverse is estimated that it can create a trillion-dollar
revenue opportunity in various fields such as:
• Social Commerce
• Digital Events
• Monetization of Hardware and Content
Metaverse has great potential, especially in the fields of
advertising and social commerce.
• Second Life (2003) is an online multimedia
platform that allows people to create their own
avatars, open shops, socialize with others and
almost have a second life in the online virtual
• Roblox (2006), as a Metaverse platform, focuses
primarily on children– 48.9% of daily active users
are children who are 13 years old or younger.
• Horizon Venues (2021) is Meta's (formerly
Facebook) platform focused on helping people
interact with each other in the virtual world. You
can participate in various activities, buy various
virtual products, and take selfies with your
friends in the virtual world without leaving your
What can change in Cultures
1. In the Metaverse, people will not
wander around alone; They will
form friendships and
relationships that will affect their
2. Accessibility, intimacy, and
interaction with businesses and
celebrities will increase
significantly as more
3. Customers will not only be able
to talk to brands like they do on
social media, but also interact
with them in the 3D virtual
What can change in Economies
1. Companies will need to transform their
marketing strategies from buying online
ads to versions that can be used in a
shared virtual economy.
2. Companies will need to do market
research about their new customers in the
database, their behaviors, and preferences.
3. There will be new job opportunities for
people from every industry, from
consumer-focused industries such as retail
and entertainment to manufacturing,
construction, and beyond.
4. With the help of the network created by
the Metaverse, goods will be more
accessible, and businesses will be able to
sell their products worldwide, regardless of
the geographic locations of their stores
What can change in Shopping and
Retail with Metaverse?
1. The number of games that
provide social interaction will
2. The e-sports industry and culture
3. In the case of rapid and
widespread adoption of 5G
during the 2022-2024 period, the
mobile game market in Turkey
will also grow positively.
4. AR / VR technologies will adapt
more to both business sectors
and the daily life of the
What can change in Gaming with
1. Virtual fashion, avatars, and
virtual real estate (housing, cars,
etc.) will have their own values in
2. People who invest in Meta data
may own businesses and
properties in the Metaverse, so
there will be opportunities to
partner with businesses that do
not exist physically.
3. Virtual fashion brands and
designers will have the
opportunity to enter an entirely
new digital clothing market.
What can change in Health with
1. Students will be able to conduct
experiments and laboratory
studies with virtual reality tools,
and practical lessons will become
more effective and efficient.
2. The lack of practicality and
application in education, which is
one of the most criticized issues
today, will directly disappear.
3. Education will be one of the
sectors that receive the most
virtual reality investments.
1. Thanks to artificial intelligence-
based health solutions, blood
pressure monitors, insulin level
measuring devices, taps, and
toilets we use in hospitals and
homes will be smart.
2. Artificial intelligence and mixed
reality technologies will also
change medical education.
3. The lack of hands-on experience,
which is the biggest issue of
medical students, will be solved
thanks to mixed reality
What can change in Education
One of the most frequently encountered topics in the fight
against cybercrime is deepfake, Deepfake videos are usually
created using various digital methods to damage people's
reputations and victimize many people.
However, deepfake videos are not always harmful. These
videos are also used for entertainment purposes by various
institutions and individuals.
When you see videos like these, you might think, "I can't
trust any video I see on the internet anymore".
But don't worry!! There are many software and artificial
intelligence available today that can easily detect whether
videos are fake or not. You can also spot some deepfake
videos if you look at them carefully.
While social networks and cybercrime teams continue to
fight against deepfake, its use is increasing rapidly. The
latest AI and Metaverse revolution will be on the positive
side, for sure.
Blockchain, which has a chain structure
consisting of blocks, is a distributed database
system that provides tracking of encrypted
Each block on the chain contains a series of
transactions, and each time a new transaction
occurs on the blockchain, a record of that
transaction is added to each participant's
Blockchain spreads its operations across a
network of computers, allowing Bitcoin and
other cryptocurrencies to operate without the
need for a central authority.
This not only reduces risk, but also the number
of transactions and transaction fees.
Blockchain's principle of decentralization is
based on this technology.
Decentralized autonomous organization:
Imagine a vending machine that not only
takes money from you and delivers food, but
also uses that money to order products for
itself. This machine also pays for the
cleaning services and its own rent. In fact, as
you put money into the machine, you and
other users have a say in what the machine
will order and how often it will be cleaned. It
has no manager, all these operations are
written in its code.
This is more or less how the Decentralized
Autonomous Organizations (DAOs) work.
Decentralized Finance (or DeFi for short) refers to an
ecosystem of financial applications built on blockchain
The concept of Decentralized Finance can describe the
trend that aims to create an open source, and
transparent financial services ecosystem that is
available to everyone not based on approval and
operates without a central authority.
Users retain full control of their assets and interact with
the ecosystem through Peer-to-Peer decentralized
The main benefit of DeFi is easy access to financial
services, especially for those who do not have access to
the existing financial system.
Another potential advantage of DeFi is the modular
infrastructure on which it is built.
Interoperable DeFi applications on the blockchain have
the potential to create entirely new financial markets,
products and services.
• NFT (Non-Fungible Token) certifies that a digital asset is unique and therefore not interchangeable. This
system is a unit of data stored in a digital ledger in a blockchain structure.
• NFTs are used to represent virtual items such as photos, videos, audio, and other types of digital files.
However, access to any copy of the original file is not limited to the owner of the NFT.
• NFT is a brand-new revenue-sharing model for artists, content producers and digital content platforms.
• For this reason, its market value tripled in 2020 and reached $250 million.
• With the increase in the number of Metaverse universes and the creation of NFTs that can be integrated
into these universes, both NFTs and Metaverse tokens both got more popular and started to be used by
First Wedding in the Metaverse:
Traci Gagnon, 52, and Dave Gagnon, 60, became
the first couple to get married in the Metaverse.
The Metaverse wedding took place simultaneously
with the real wedding. Thanks to the wedding in
the Metaverse, although Traci's maid of honor
could not attend the actual wedding, she was able
to walk down the aisle in the metaverse thanks to
her avatar. Dave's close friend, on the other hand,
was unable to attend the actual wedding due to
health problems and was able to toast the couple
in the Metaverse.
Mike Winkelmann (Beeple):
Beeple who sold his NFT artwork for $69 million,
broke a new record.
Mike Winkelmann (Beeple), who had never
been able to sell a printed work of his even for
$100, has been made the most valuable living
artist by a well-established auction house.
In the near future, thanks to Metaverse and virtual
reality technologies, during a concert you will be able
1. Buy the songs played during the concert you
2. Browse the products owned by the artist who
performs during the concert,
3. Browse the clothes and accessories worn by the
artists in the concert,
4. Buy the clothes and accessories of the artists while
watching the concert according to the colors and
sizes you want.
As Cerebrum Tech, we seek the knowledge that we have
yet to discover.
We aim to enlighten ourselves, the people of our
country, and the world by pursuing yet-not-discovered
and unattempted things.
With this purpose, we are trying to be a pioneer in our
field by doing what has not been done.
By building our own Cerebrum Tech meeting room in
Metaverse, we carry our meetings and discussions to the
By closing the distance via the virtual world, we remove
the physical barriers of meeting with our Cerebrum
Tech family members and Cerebroomers from Turkey
and different parts of the world.
We are waiting for you to join us as well!