METAVERSE PPT-111111111111111111111.pptx

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1. Presented by Prachi,Tititksa,Trisha,Sneha and Sanjana

2. WHAT IS IT? META = Greek word meaning “Beyond” VERSE = Universe METAVERSE is virtual world i.e., the next phase of the Internet. Its Most basic definition refers to “the concept of a fully immersive virtual world where people gather to socialize, play and work”. The Metaverse is a confluence of multiple enabling technologies such as artificial intelligence, virtual reality, augmented reality, internet of medical devices, robotics, quantum computing, etc through which new directions for providing quality healthcare treatment and services can be explored.

3. NFT One of the most used terms in the metaverse is NFTs. The Non-Fungible Tokens (NFTs) are unique cryptographic tokens and cannot be duplicated on a blockchain. NFTs can be used to represent real-world items that are collectible digital assets that hold value in the same way that physical assets do; For example, you can create unique digital artwork and convert it into an NFT. The artwork would stay on a blockchain network with access privileges specified by the owner. Today, most Metaverse games are decentralized with an integrated economic model to support play-to-earn gaming. Such games allow users to buy, sell, and trade in-game assets in the form of NFTs.

4. DISADVANTAGES IN METAVERSE…. it may take much time to fulfill basic needs(should give clear benefit to become more popular) privacy issue and data theft Increased costs for individuals buying the technologies needed to participate lower battery power(high consumption) eye strain and health issues Metaverse addictiveness for those looking to escape reality.

5. HISTORY OF METAVERSE The term “metaverse” first appeared in the 1992 science fiction novel “Snow Crash” by Neal Stephenson. The story is set on a futuristic backdrop wherein humans interact with each other and software agents as avatars in an internet-like and online-enabled virtual space The first Metaverse Roadmap Summit held in May 2007 envisioned that the internet in 2016 would evolve into an all-encompassing digital playground that would immerse people in a myriad of highly accessible and on-demand digital information.

6. Big Tech has set their eyes on developing and deploying their version of the metaverse. Companies such as Microsoft and Meta have recognized the fact that the future of the internet and digital communication is headed toward a more immersive digital realm that reduces the boundaries between the physical world and the virtual world.