Hong Kong – Tailor Insight, the Asia based market research institute, has released a report on ‘Newest Trends of Blockchain Computing 2022’. Metaverse is a virtual world based on VR and AR technologies, in which users can interact with each other. Beyond social interactions, it will also be a place for shopping, events, education, and more. The metaverse game is a game world in which users will exist as avatar versions of themselves, supported by NFT and Blockchain technologies. They can then engage in daily activities such as meeting up with friends, buying groceries and attending a work event.
The Rise of Blockchain and NFT assets
With the arrival of a new open, decentralized internet, comes an increased focused on blockchain, for the management of transparent data. Blockchains allow for convenient, trustless data exchanges, recorded histories, and decentralized authority.
Many experts believe the blockchain will play an important role in the creation of a safe and fair metaverse. The blockchain is also helping to form the creation of a new economy within the metaverse, one defined by creators being able to monetize the things they make and receive adequate compensation for their talents.
NFTs, or non-fungible tokens, for instance, are an exciting part of the metaverse, which allow people to sell everything from data to services and experiences, in a way that benefits the actual artist or creator behind each asset.
Everything on Computing
Computing power has always been increasing. But new developments on the horizon like quantum computing and biocomputing are set to blow Moore’s Law – the observation made in 1965 that computers tend to roughly double in power every two years – out of the water. The field of computing that we refer to as artificial intelligence, specifically machine learning and deep learning, has chiefly become viable in the past decade or so because computer processors have finally become available that can keep up with the background mathematics that is required. Today, Google is said to have a working quantum computer capable of operating 100 million times faster than any non-quantum computer in existence. While this will only be relevant to a very limited number of use cases (it’s unlikely you could use it to play the game 100 million times faster than on an powerful GPU, for example), it’s clear that we’re getting set for an increase in computing power, unlike anything we’ve seen before.
The roles for startups to play
Startups are emerging across the globe with their own metaverses. Furthermore, NFTs have also been a hot topic for many months now and the prospect of combining NFTs and metaverse solutions holds great potential. Numerous startups have been launching platforms in which users can create, mint and sell their own NFTs. These platforms are also working with brands and businesses who want to enter the NFT space.
Beyond creating their own metaverses, startups also develop technology to help build or support metaverses. In this sense, they play a tech enabler role. For example, they can provide businesses with the tools to create their own immersive 3D environments in the metaverse, with high quality visuals and optimal user experience. They can provide companies with the tools to launch solutions to host their meetings in the metaverse or to advertise their products at virtual events. Such tools include 3D development, virtual reality, artificial intelligence, etc.
As questions and concerns arise around user safety, regulating the metaverse and other legal matters, businesses will likely need to implement cybersecurity and compliance solutions. Startups, which are already leading in these areas for sectors like insurance, will emerge as key providers to ensure compliance with future regulations and security best practices.
About Tailor Insight
Tailor Insight offers deep insight into industry trends in the financial market. Tailor Insight provides easy and quick solutions that allow customers to capture, monitor, and audit market data from a holistic view down to an individual task on market research and industry trend insights, especially in AI, AR, VR and Blockchain & Cryptocurrency industries.
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SOURCE: Tailor Insight Market Research