Abstract
The metaverse, a term coined to describe a collective virtual shared space that merges aspects of physical and digital realities, is rapidly evolving as a transformative concept in the realm of technology. This interconnected digital universe goes beyond traditional virtual reality, offering a seamless integration of immersive experiences, social interactions, and economic activities. As technology advances and connectivity deepens, the metaverse holds the promise of redefining how people work, socialize, and engage with the digital landscape, presenting both opportunities and challenges that resonate across various sectors of the interconnected world. The chapter will examine the idea of the metaverse through a thorough analysis of the literature and an examination of some of the fundamental elements of the metaverse, such as awareness and expectation levels and the expected domains to be covered in the metaverse in Indian culture along the extent of the metaverse awareness among Indians.
TopThere could be numerous ways to assimilate metaverse in everyday lives of people in the coming future, starting from childhood needs to geriatric pedestal. Some of the possibilities are given below and depicted further through Figure 1:
Key Terms in this Chapter
Virtual Reality (VR): It refers to a computer-generated simulation of an immersive, three-dimensional environment that can be interacted with and explored by an individual through electronic devices, typically with the aid of specialized headsets and input devices.
Work From Home (WFH): It refers to the practice of performing one’s job or tasks remotely, typically from one’s residence, using digital communication tools and technology to connect with colleagues and employers. This arrangement allows individuals to carry out their professional responsibilities without being physically present at a traditional office location.
Virtual Space: It refers to a computer-generated environment that simulates aspects of the real world or creates entirely imaginary settings. It is commonly experienced through virtual reality (VR) or augmented reality (AR) technologies.
Blockchain: It is a decentralized and distributed ledger technology that records transactions across a network of computers in a secure and transparent manner. Each block in the chain contains a list of transactions, and once a block is completed, it is linked to the previous one, forming a chain. This creates a tamper-resistant and transparent record of transactions, commonly associated with cryptocurrencies like Bitcoin, but with potential applications in various industries.
Technological simulations: It refers to computer-based models or representations that mimic real-world processes, systems, or scenarios. These simulations are designed to imitate the behavior of specific technologies, allowing users to explore, analyze, or learn about them in a virtual environment.
Augmented Reality (AR): It is a technology that combines computer-generated information or imagery with the user's real-world environment in real-time, enhancing their perception and interaction with the surroundings.
Bitcoin: It is a decentralized digital currency that operates on a peer-to-peer network, utilizing blockchain technology to secure and verify transactions. Introduced in 2009 by an unknown person or group using the pseudonym Satoshi Nakamoto, Bitcoin is not controlled by any central authority, such as a government or financial institution. It relies on a public ledger, the blockchain, to record and validate all transactions. Bitcoin can be used for various online transactions and is often considered a store of value or a form of digital gold. Its underlying technology, blockchain, ensures transparency, security, and immutability of the transaction history.
Artificial Intelligence (AI): It refers to the development of computer systems that can perform tasks that typically require human intelligence. These tasks include learning, reasoning, problem-solving, understanding natural language, and perception. AI technologies aim to replicate or simulate human cognitive functions, enabling machines to analyze data, adapt to new situations, and improve their performance over time.