Introduction
The first-ever public gaming equipment started in the form of Karuta playing cards. Kurata playing cards were introduced in Japan by Portuguese merchants in the 16th Century. However, these gaming cards gained massive popularity.
Some companies that made a fortune from Kurata distribution eventually transformed into some of the biggest digital gaming platforms in Japan, such as Nintendo. A Kurata designer Fusajiro Yamauchi founded Nintendo in 1889 and made digital games a trillion-dollar industry. Today, the latest gaming consoles are inspired and powered by cryptocurrencies and Blockchain.
What is Web 3.0?
Web 3.0 is the third evolved version of the World Wide Web. Web 1.0 allowed developers to create read-only websites that were accessible to every user in the world with an internet connection. Web 2.0 added the ability for these users to create accounts, make comments, store data, and access thousands of web pages.
In the same vein, Web 3.0 is a theoretical web upgrade that will allow users to gain full control of their online data. It means that the data for a website is not going to be under the control of big corporations and free from the regulations of centralized governments. Web 3.0 can make the next leap by adopting the technology of blockchains that enables decentralization.
What is Metaverse?
Metaverse is a type of tech platform based on Web 3.0 technology. A Metaverse project is any tech website or application that is decentralized and grants full data ownership to its users. Metaverse also plans to advance the 2D social media interaction to 3D with the integration of Augmented and Virtual Reality features.
Rather than using a tech platform on a computer screen, the Metaverse users will be able to enter into the 3D universe. The users can create custom avatars and sell or purchase them as NFTs. At the same time, users can also interact with each other using their virtual avatars and purchase virtual land, which is also highly customizable.
Origin of Metaverse
The idea behind Metaverse was adopted from a fiction book called Snow Crash, authored by Neal Stephenson in 1992. The CEO and Founder of the biggest social media platform in the world, Facebook, announced the creation of Meta.
It is worth noting that Facebook was able to become one of the biggest Tech Companies in the world alongside names like Apple and Alphabet Inc. (Google). During its reign, Facebook acquired other social media platforms such as WhatsApp and Instagram as well. However, everything changed after the leak of Facebook papers in 2014 by a former employee Frances Haugen.
Haugen became the whistleblower backed by the Wall Street Journal and revealed the negative impact of social media sites. She highlighted the adverse psychological toll that Facebook users were facing.
At the same time, she also alleged that Facebook was conducting mental experiments, collecting behavioral data without consent or knowledge, and influencing political narratives in many countries. The Facebook paper leaks resulted in a massive backlash from users. To change the brand image and make big changes, Facebook CEO Mark Zuckerberg announced Metaverse in October 2021.
How Does Metaverse Work?
Metaverse creation also allowed him to gather all social media companies acquired by Facebook under one title. The company has already made changes in its public listing and other legal documentation. Metaverse has also arrived with a new logo and aims to transform social media platforms. Zuckerberg claimed that Metaverse would use Web 3.0 technology to make user data completely autonomous.
At the same time, he also claimed that social media websites are going to morph into a very different platform with AR/VR technology integration, allowing users to have an avatar and granting them the freedom to design a very personalized online space within the Metaverse.
Thus far, big brands and high net-worth individuals can purchase virtual land within the Metaverse that allows them to display their products and advertise for the users. Thus far, the Metaverse is a very exclusive platform that requires permission or approval for access.
However, the exclusivity of Metaverse clashes with its Web 3.0 and decentralized ideology. While social media sites like Facebook were able to allow users to create free accounts, likely, Metaverse will only grant paid access to its users as per its description in the Metaverse conception book Snow Crash.
Layers of Metaverse
There is a misconception that only companies under Meta are included in Metaverse. However, it is important to note that Metaverse is a new standard for upgrading for any and every tech company. Therefore, the reader needs to learn about the Layers of Metaverse to understand which tech platforms exist under this purview. Here are some important tech subsidiaries that make up the Metaverse:
- Digital Gaming, social media sites, E-commerce platforms, OTT cinemas, E-sports, etc.
- Exhibitions, public displays, digital adverts, virtual agents, and online stores.
- A new inflow of content creators working on design tools, asset markets, and commercial workflows.
- 3D engines with an ability to create multilateral User Interfaces, spatial geological mapping, AR/VR/XR extensions, and spatial computation.
- Decentralization of public sites by integration of blockchain, AI, Machine Learning, edge algorithms, and microservices structure.
- Assurance for digital interaction of human beings using personalized interfaces using input devices such as smartphones, headsets, neural, voice commands, and other sensors.
- Global connectivity infrastructure that is compatible with upscale hardware and software requirements and grants users an uninterrupted and smooth interactive experience.
What is Roblox?
Roblox is an online tech company that is one of the pioneering platforms for introducing 3D gaming universes. Roblox has introduced gaming devices such as virtual reality headsets. Using these headsets, the users can go into a virtual gaming universe where they can adopt a 3D avatar and exist in a 3D-modeled gaming world around them.
Traditionally, gaming platforms allow users to create a readymade character that is present on their screens. However, with Roblox, the gamers can get inside a 3-dimensional gaming arena that acts like real-world mimicry. In this manner, the gaming experience for the users can be made very real.
Metaverse and Roblox
It is worth noting that the 3D gaming programs created by Roblox are very immersive and interactive. However, most of these platforms do not have the same features as the Metaverse. Most of these platforms do not have any online plugins. It means that one game user cannot interact or connect with the other gamers using an online connection. At the same time, gamers also have to make all purchases using fiat currencies, and there is no concept of earning or making trades with cryptocurrencies or built-in tokens in the game.
On the other hand, by aiming to become a Metaverse platform, Roblox is planning to create a virtual reality gaming world that allows users to connect. At the same time, the gamers will be able to purchase, sell, or create skins and themes as NFTs. Furthermore, there is also an option for earning gaming tokens or trading them with other cryptocurrencies.
Another important feature of Roblox Metaverse is that all tokens, NFTs, and virtual real estate will become accessible for any user present on any Metaverse platform. The main reason that Roblox has been very popular in its Metaverse transition is that it is a gaming platform that offers immediate UI experience upgrades.
Impact of the Roblox Metaverse
Another driving force that has confirmed Roblox as the torch bearer platform for Metaverse is its rapidly increasing global adoption. Roblox first announced its mission to become a Metaverse platform in 2019.
After the announcement, the interest of gamers and cryptocurrency investors has increased in Roblox products by leaps and bounds. At present, Roblox enjoys around 47 million users around the world. Keeping in view its increasing adoption and popularity, Roblox recently filed for a public listing. After its public listing, the company became a tech company with a 38 billion euros market cap.
It is also worth noting that tech experts have predicted that around 57% of the Metaverse and VR adoption stake will be taken up by gaming platforms such as Roblox. Keeping in view the rise of Metaverse gaming ventures, Microsoft has recently acquired gaming companies like Activision Blizzard.
Roblox Metaverse and Cryptocurrencies
While gamers have always helped tech companies gain worldwide popularity, it is important to note that Metaverse heavily depends on blockchain. Without the introduction of technologies like decentralization and cryptocurrencies, it would be impossible for the Metaverse gaming platforms to gain global adoption.
Metaverse gaming platforms such as Roblox must have a strong connection with the DeFi ecosystem. It will allow the users to make sales and purchases of NFTs, virtual real estate, other digital products, and gaming tokens or privileges with each other. To become more appealing to users around the globe, Roblox recently organized a new event called Roblox Metaverse Champions. The event was geared toward introducing the Roblox gaming gadgets, more popular among Gen-Z.
The promotional event allowed Roblox to emphasize its dependency on the availability of creator communities. It is worth noting that rather than issuing readymade gaming arenas and setups, Roblox is providing content creators with the tools that will allow them to generate different types of gaming universes for their users.
In addition to a vast range of personalized customization options, content creators will also have the liberty to generate exclusive virtual communities that are private and permissioned gaming arenas.
On the whole, Roblox gaming universes are free of cost other than hardware and software costs. However, content creators can build private gaming platforms that are paid or require special access approval using options such as Robux.
Adoption of the Roblox Metaverse
One important factor to weigh before learning about Roblox Metaverse is that the platform has managed to amass a user network of 47 million around the globe. Such a number is very impressive and requires a lot of work and expertise.
However, it is worth noting that around 14% of the Roblox users are above 25 years old, while the majority of the user base i.e., 67%, hails from users within 16 years. It is not wrong to say that Roblox and other Metaverse platforms are the most popular among GenZ users.
It seems like that despite having strong ties with blockchain, Web 3.0, and cryptocurrencies, most Millennials lack interest. It is important to understand that, at present, the defined description for a Metaverse platform is not present. There are no specified parameters or standards that qualify a tech project as a Metaverse assignment.
At the same time, there is also the issue with the Web 3.0 concept that many adults find lacks reality and authenticity. At present, there is no way for tech companies to grant full data independence to their users.
Future of the Roblox Metaverse
At present, the growth and adoption of Roblox as a Metaverse platform warrants its future growth and adoption. It can eventually morph into a massive global adoption that can result in the creation of a whole new World Wide Web structure.
It also means that the users will start to go into Metaverse platforms for everyday needs such as workplace interactions or social gatherings without any national or international boundaries. It can create a very different virtual reality economy in the future in the same manner that was created with the introduction of Web 2.0 interactive websites.
In addition to Meta and Roblox, companies like Microsoft are also invested in creating a Virtual Reality platform that enables official and commercial interactions for its users. That entails that Metaverse applications have the potential to gain massive adoption in the future.
However, at the same time, people may reject the whole idea since wearing a headset and existing in a VR world cuts them off from reality altogether. For many people, a world where people are spending most of their time inside a virtually constructed universe can become a dystopian place.
Therefore, it seems like the most successful Metaverse platforms will be limited to gaming platforms such as Roblox. There are already many techs and financial experts who are opposing the mass adoption of VR headsets raising concerns like adverse psychological and physiological impacts on human beings.
Key Features of the Roblox Metaverse
At present, there is no rule of thumb when it comes to defining a Metaverse application. Therefore, most blockchain enthusiasts can’t distinguish themselves from the crowd. However, here are some of the rudimentary Metaverse features that are present in all existing Web 3.0 projects, such as Roblox. Here are some of the most visible and universal Metaverse features:
Creativity
One of the most important features of a Metaverse gaming platform such as Roblox is its freedom of creativity for the users. For now, the users can create a new gaming account and follow the storyline provided by the developers.
However, in Roblox and other Metaverse applications, the users have a lot of personalization and customization independence. The users can create unique avatar skins and also design their virtual estate as per their taste.
Users with a little knowledge of programming languages can tap into the advanced customization themes. At the same time, designated content creators can also put together a privatized virtual section that requires exclusive entry approval. The users can also earn money by creating avatars, themes, and game designs and selling them as NFTs across all Metaverse platforms.
At the same time, users can find innovative methods of utilizing Metaverse NFTs on different platforms that can interest other players.
Social Interactions
With the introduction of Metaverse applications, the meanings of social media platforms are going to change forever. Rather than having to watch selected content of a user in the form of videos, images, or mp3 files, the users can watch the users in action in real-time.
It means that a person can view the other users reacting in real time when faced with new content. In many ways, the Metaverse Roblox social interactions are more immersive and personalized.
Virtual Events
Metaverse Roblox can host virtual events like never before. It will allow the users to attend the event very much in the fashion of a real occasion. The users can choose to talk with other users like in real life and jump from one speaker to another without having to waste their time. At the same time, it is also possible for the users to make transactions or contributions depending on their interests and standing.
Blockchain Commerce
Web 2.0 gave rise to an entirely new commercial economy. Jobs like social media operators, marketers, SEO experts, and E-commerce platforms emerged for the first time in history. Many people today can work from home and order products from any corner of the world.
In the same manner, the Metaverse Roblox platforms can also result in the creation of a wholly new economic infrastructure, such as Blockchain commerce, that is decentralized and grants data autonomy.
Conclusion
Metaverse is a new concept taking inspiration from DeFi and blockchain. There are concerns around the Roblox Metaverse platform on account of its real-world implications. At the same time, it is also very likely that users would not shy away from enjoying an interactive virtual gaming platform with the ability to generate income for them.
Gaming companies such as Nintendo have proved in the past their financial potential for them. However, despite all the massive upgrades of gaming with Metaverse Roblox, it seems that thus far, it is only the most popular among GenZ users.
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