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Market Cap: $2.9387T 3.08%
Volume(24h): $232.5732B 3.08%
  • Market Cap: $2.9387T 0.250%
  • Volume(24h): $232.5732B -25.240%
  • Fear & Greed Index:
  • Market Cap: $2.9387T 0.250%

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When was the Metaverse proposed?

The Metaverse concept, first envisioned in 1992, has evolved through virtual worlds, social media, blockchain, VR, and XR technologies, now captivating industries as a platform for immersive experiences and innovative applications.

Oct 03, 2024 at 08:35 pm

1. The Proposal of the Metaverse

The concept of the Metaverse was first introduced in 1992 in the science fiction novel "Snow Crash" written by Neal Stephenson. In the novel, the Metaverse is described as a virtual shared space where people use avatars to experience a blend of the real and virtual worlds.

2. Virtual 3D Worlds and Online Games

In the early 2000s, the advent of virtual 3D worlds, such as Second Life (2003), provided an early glimpse of the Metaverse concept. These platforms allowed users to create and customize their own avatars and engage in social interactions within virtual environments.

3. Social Media and Augmented Reality

The popularization of social media in the mid-2000s further contributed to the development of the Metaverse. Platforms like Facebook (now Meta) and Twitter enabled users to connect with friends and acquaintances across physical boundaries, fostering a sense of shared online experiences. Additionally, the emergence of augmented reality technologies, such as Google Glass (2013), enhanced the possibilities of merging the real and virtual worlds.

4. Blockchain and Cryptocurrencies

The introduction of blockchain technology and cryptocurrencies, like Bitcoin (2009), laid the foundation for decentralized virtual economies within the Metaverse. Blockchain-based platforms emerged to facilitate virtual land ownership, tokenized assets, and play-to-earn games.

5. Virtual Reality and the Extended Reality (XR) Market

The advent of virtual reality (VR) headsets, such as the Oculus Rift (2016) and HTC Vive (2016), marked a significant step toward the realization of a truly immersive Metaverse experience. VR technology allows users to fully immerse themselves in virtual worlds, enhancing the sense of presence and connectivity. Collectively, VR, augmented reality (AR), and mixed reality (MR) technologies comprise the XR market, which has grown rapidly in recent years.

6. Corporate and Industry Involvement

In recent years, major corporations and industries have begun to embrace the potential of the Metaverse. Companies like Meta, Microsoft, and Nvidia have invested heavily in developing their own Metaverse platforms and applications. Industries such as gaming, finance, education, and entertainment are exploring ways to leverage the Metaverse for new user experiences and business models.

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