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Last Updated:
2024-09-22 08:21:10

Metaverse

Virtual world for social and economic interaction.
Virtual world for social and economic interaction.

The metaverse is a virtual world where users interact through avatars, often in 3D. Originating from a 1992 novel, it envisions an immersive online space using VR and AR technology. Companies use the term as a buzzword for PR, but concerns about privacy and safety persist.

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1938
Antonin Artaud coins the term virtual reality

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.

1952
Sensorama VR machine created by Morton Heilig

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.

1983-01-01
Birth of the Internet

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.

1985
Back-to-the-Future Concept

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

1992
Snow Crash novel by Neal Stephenson

Neal Stephenson's novel 'Snow Crash' introduced the concept of the Metaverse, a virtual realm accessed through VR goggles, laying the foundation for the development of immersive virtual worlds.

1993
Release of the first web-browser, Mesh

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

1995
Creation of Active Worlds

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.

2000
Habbo Hotel Launch

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.

2003-06
Launch of Second Life

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.

2004
Roblox

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

2006
Roblox Launches User-Created Massively Multiplayer Games

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.

2007
Google Introduces Street View to Maps

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.

2009
Creation of Bitcoin and blockchain protocol

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

2011
Kickoff of The Sandbox Metaverse

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

2012
Oculus Crowdfunding

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.

2014
Creation of the First Non-Fungible Token (NFT)

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.

2015
Decentraland Released

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.

2016
Pokemon Go popularizes AR

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.

2017-11
CryptoKitties launches as blockchain game

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.

2018-03
First play-to-earn blockchain game Axie Infinity released

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.

2019-02
Marshmello's Fortnite Virtual Concert

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.

2020-03
COVID-19 Pandemic and the Metaverse

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.

2020-05
Launch of Minecraft Design Studio

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

2021-09
BMW Launches Joytopia

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.

2021-10
Facebook Rebrands to Meta

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.

2021-11
NIKELAND Launches on Roblox

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

2021-12
Nike acquires RTFKT

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

2022-02-07
The Metaverse in 2040

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

2022-05-23
Utilization of the Metaverse by Companies

Exploration of how companies leverage the metaverse for various purposes.

2022-11-18
Facebook rebranding as Meta

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.

2023-07-13
Ben Williams in Metaverse

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

2024
12 top metaverse predictions for 2030

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

2030
Projected value of the metaverse to reach $8tr to $13tr

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.

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