Metaverse

French poet and playwright Antonin Artaud introduces the term virtual reality in his collection of essays, The Theater and its Double, envisioning the orchestration of characters, objects, and images to create immersive worlds.

Morton Heilig created the Sensorama, the first VR machine, which simulated all the senses to immerse individuals in a film using scent producers, a vibrating chair, stereo speakers, and a stereoscopic 3D screen.

The official birthday of the Internet is considered to be January 1, 1983, when Transfer Control Protocol/Internetwork Protocol (TCP/IP) was released, enabling computer networks to 'talk' to each other.

The concept of back-to-the-future has spurred a revolution in product lifecycle management.

In 1992, American sci-fi writer Neal Stephenson introduces the term metaverse in his book Snow Crash, portraying a dystopian future where wealthy individuals seek refuge in an alternative 3D, interconnected reality. This alternative reality initially begins as a single 65,536 km road encircling an artificial globe and expands as people purchase, construct, and renovate virtual real estate. The vision entails a unified world where everyone connects, and individuals are accountable for their own avatars, ranging from highly artistic customized creations to more affordable options like 'Clints' and 'Brandys' from Walmart.

In 1993, the first web-browser, Mesh, was released, marking a significant milestone in the development of the Internet and the Metaverse.

Active Worlds, the first proto-metaworld, was created in 1995, allowing users to explore virtual worlds and environments, create custom content, and engage in web browsing, voice chat, and instant messaging.

Habbo Hotel was one of the first attempts at creating a metaverse, establishing virtual communities for players to design, build, play games, and trade in.

Linden Labs launches the first iteration of Second Life, a massive, web-based, online community taking place in 3D space with player avatars and currency.

Roblox introduced disruptive innovation in the gaming industry with its user-generated content and virtual world.

In 2006, Roblox introduced a platform where users could create and play massively multiplayer games developed by other users. The platform also enabled users to create and sell new items, leading to rapid adoption and a current user base of over 200 million.

In 2007, Google augmented its Maps with Street View, allowing users to explore a virtual representation of the real world at scale. This innovation demonstrated the potential for creating large, complex digital twins of physical environments for users to explore.

In 2009, Bitcoin, the world's first cryptocurrency and blockchain protocol, was created, laying the foundation for the development of the metaverse.

The Sandbox metaverse started in 2011, but it did not have a token until 2020.

Oculus crowdfunded US$2.5mn in 2012, taking a big step towards enabling the metaverse. The company was later acquired by Facebook and released the Rift, the world’s first widely available virtual reality headset, in 2016.

In 2014, Americans Kevin McCoy and Anil Dash created the first non-fungible token (NFT), a unique cryptographically secured virtual asset. This innovation paved the way for virtual art, concert tickets, and play-to-earn experiences, leading to significant developments in the metaverse.

Decentraland is a metaverse, a social 3D world with a native economic network. The goal of Founder Esteban Ordanois is to have a self-contained economy where people can rent land, place billboards, and create gathering places.

In 2016, Pokemon Go became a cultural phenomenon by popularizing the use of augmented reality (AR) in gaming. The game utilized GPS on mobile devices to allow players to capture, train, and battle virtual creatures in real-world locations.

In November 2017, CryptoKitties became the first widely recognized blockchain game, using ERC-721 tokens. However, oversupply of kitties and decreased player income led to its initial collapse, followed by a redemption later on.

In March 2018, Axie Infinity was launched as the first play-to-earn blockchain game, gaining viral popularity with over 1.8 million active users logged into the platform as of August 2021.

Fortnite's first ever virtual concert by Marshmello attracted 10.7 million in-game attendees and garnered over 27 million views on YouTube for its official recap.

The COVID-19 pandemic led to a global shift towards remote routines and virtual interaction, driving more people to turn to the metaverse for social engagement.

A 20-year old Minecraft designer founded Varuna, a Minecraft design studio that offered custom work for up to $90k.

In September 2021, BMW introduced Joytopia, a virtual world featuring an exclusive concert from Coldplay, demonstrating the automotive industry's foray into the metaverse and virtual experiences.

In October 2021, Facebook underwent a significant name and direction change, with CEO Mark Zuckerberg announcing the company's rebranding to Meta Platforms Inc. or Meta for short, signifying a major shift towards the metaverse and virtual experiences.

NIKELAND launches on Roblox, creating a space for Nike fans to create, share experiences, and compete.

Nike acquires RTFKT, a maker of sneaker NFTs, to create a leading brand that merges culture and gaming through next generation collectibles.

A report speculating on the evolution and impact of the metaverse by the year 2040.

Exploration of how companies leverage the metaverse for various purposes.

Facebook rebranded itself as Meta, sparking a buzz around the metaverse and leading to an increase in companies marketing their own version of a metaverse experience.

Ben Williams discussed how Takeda utilized the metaverse to create a positive impact on humanity.

Content predicting the future of the metaverse, specifically focusing on 2030.

By 2030, the metaverse is projected to have a substantial economic value, estimated to be between $8 trillion to $13 trillion, indicating its immense potential and impact on various sectors.