thesis metaverse a comprehensive analysis topic select and present a new it issue of current interest technology activities and applications

The metaverse 1s a massively scalable, persistent network of interconnected virtual worlds focused on real-time interaction where people can work, socially interact, transact, play and e

MINISTRY OF EDUCATION AND TRAINING UNIVERSITY OF ECONOMICS HO CHI MINH CITY THE SCHOOL OF BUSINESS INFORMATION TECHNOLOGY

Topic : Select and present a new IT issue of current

interest (technology, activities and applications) Course ID : 23D1INF50909501

Lecturer : ME Tran Le Phuc Thinh Group : 1

3

Leader Information: Tran Minh Nhat

nhattran.3 1221020888 @st.ueh.edu.vn

ACKNOWLEDGEMENTS First of all, we would like to express our sincere thanks to the University of Economics Ho Chi Minh City for including Computing Essentials in the curriculum In particular, we would like to express our deep gratitude to the subject lecturer - Mr Tran Le Phuc Thinh for teaching and imparting useful knowledge to us during the past study period During the time attending the Computing Essentials class, we have acquired more basic knowledge about computer skills, which is to arouse the spirit of effective and serious study and acquire relevant skills to group work He inspired us through his passionate, engaging and witty but practical teaching style

Computing Essentials is a course designed to provide a good all round introduction to computers and computing, also seeks to promote an understanding of the impact of information technology on people, privacy, ethics, and the environment, hence providing a foundation for developing the necessary skill set to flourish in the twenty- first century

We have put a lot of effort into this essay, but it is inevitable that we will encounter errors due to our limitations in knowledge, so we hope to receive your comments to help us adjust and improve our work, and become more aware of ourselves in the upcoming journey in this university environment

TABLE OF CONTENTS

I, Introduction 2

2, Importance and relevance of Metaverse in the future of technology 2

II Literature Review 3

1 Virtual Reality (VR), Augmented Reality (AR) and Mixed Reality (MR)

2, Artificial Intelligence (AI) and Machine Learning (ML) applications 14

Conclusion 16

ABSTRACT The speed and relevance of digital transformation have changed significantly since the 1990s with the introduction of the Internet The Metaverse has been altered to meet the continued development in digital change in several spheres of public life The metaverse 1s a massively scalable, persistent network of interconnected virtual worlds focused on real-time interaction where people can work, socially interact, transact, play and even create Realizing the potential of Metaverse in the age of technology, we decided to choose the topic "Metaverse: A Comprehensive Analysis" The research objective is to analyze the emerging concept of the Metaverse and explore its potential future trends and implications

This thesis includes 6 sections aiming to identify the key drivers and challenges of the Metaverse: Introduction, Literature Review, Methodology, Application of Metaverse, Challenges and Risk and Future Trends of Metaverse We look further to understand its potential impact on various industries such as gaming, education, and healthcare, and explore its potential for social and economic transformation The research will provide a comprehensive analysis of the Metaverse, highlighting its opportunities and challenges, and providing insights for stakeholders to navigate this emerging landscape

I INTRODUCTION 1 Definition of Metaverse The phrase "metaverse" is composed of two words: A prefix “Meta” that means "more

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Consequently, the term "metaverse" means “beyond the actual world" or, to put it simply, "virtual universe

The metaverse is a vision of what many in the computer industry believe is the next iteration of the internet: a single, shared, immersive, persistent, 3D virtual space where humans experience life in ways they could not in the physical world

The term "metaverse" (also known as a "virtual world") refers to the idea of a digital universe developed using 3R (VR, AR, MR), multi-dimensional visuals, artificial intelligence (AJ), algorithmic systems, software, and hardware to build a unique social platform We will take use of internet connectivity, cryptocurrency, and virtual social Interactions in a way that is more real than ever before thanks to the metaverse

2 Importance and relevance of Metaverse in the future of technology The metaverse's virtual worlds, according to their proponents, have the potential to boost cooperation, accelerate training, decrease the need for physical office space, and generally make work a more enjoyable experience The Metaverse is becoming increasingly relevant in the future of technology for several reasons

Firstly, it has the potential to become the next major computing platform, just like the internet is today As more and more people spend time in virtual spaces, businesses and organizations are likely to follow and start setting up shop in the Metaverse This could lead to an entirely new economy based on virtual goods and services In the Metaverse, you may set up stores and showrooms where customers can display your products if you have the opportunity to rent or own commercial real estate Consumers continue to eagerly buy virtual clothes and accessories nowadays, demonstrating that digital fashion is currently in style For instance, a vehicle buyer may visit an auto dealer on a completely immersive spatial web, look at automobile models, and test drive them just like they would in real life

Secondly, the Metaverse has the potential to revolutionize how we socialize and interact with one another People could create virtual versions of themselves and interact with others in ways that are not possible in the physical world This could have significant implications for how we work, learn, and even date

Example: Many people may not have the means to go to a professional conference or lecture, but that 1s no justification for not attending Thanks to VR and the Metaverse, viewers will feel more involved and engaged in the experience, easily grasp the body language and emotions of the other person to maintain a long-term cooperative relationship even if in the actual world they weren't in the same conference room In summary, Metaverse has had a significant influence on how people use and engage with technology For example: by default interfaces like a keyboard or mouse will progressively disappear as we spend more time in a virtual environment and rapidly become out of date Instead, it will encourage engagement with the 3-D Metaverse through gestures, voice instructions, and possibly brain interfaces In the electronic and technological world we live in, the possibilities that the Metaverse offers are clear to perceive It has the potential to become the next major computing platform, revolutionize how we socialize and interact with one another, transform entertainment and media, and change how we use and interact with technology We believe the examples provided will help you gain a better understanding of the importance of Metaverse and the likelihood that they will gain popularity soon

The Matrix, a virtual reality cyberspace from William Gibson's 1984 science fiction book Neuromancer, is a literary example of the Metaverse In Neal Stevenson's science fiction book Snow Crash from 1992, the phrase "metaverse" was created and first used It represented a second, computer-generated virtual reality world that individuals from all around the world could connect to and access using goggles and earbuds

After Facebook officially changed its name to Meta in October 2021, the metaverse has attracted more public and media attention than ever before The metaverse is the next stage of digital evolution and expands the range of services available beyond the

usual systems with online access Consumers are actually expecting immersive and tactile features for their digital interfaces, and these features can only be achieved with the burgeoning fields of virtual reality (VR), augmented reality (AR), mixed reality (MR), and extended reality (XR) The answer that unifies all these relevant technologies in a global setting is the metaverse

The COVID-19 epidemic has made the world really realize how important interaction is since it fulfills a fundamental human need and highlights the Metaverse's crucial function in the modern day This increase in the intensity of a new race is anticipated in the future with the participation of many major technological businesses in the world that have joined this Metaverse such as Microsoft, Facebook, Nvidia, Epic

Bloomberg News reports that the market value of Metaverse was close to 500 billion USD in 2020 and may rise to 800 billion USD by 2024 By the end of March 2022, there were ten times as many users of virtual universe platforms as there were at the beginning of 2020, and there were over 28 million users of virtual reality devices Aware of the Metaverse trend that will soon be the general trend of the Internet Especially in Viet Nam, for the first time, Vietnamese start-ups pay much attention to the birth of Metaverse Technology Many experts say that humanity is facing a convergence point of technology for digital transformation and Metaverse is the intersection and convergence of digital technologies

The term "Metaverse" refers to a hypothetical future internet-based world that is a fully immersive virtual reality experience, similar to what you might see in movies such as "The Matrix" or "Ready Player One" Currently, there are various virtual worlds and platforms that offer partial aspects of a Metaverse, such as Second Life, VRChat, Roblox, and more recently, Facebook's Horizon Workrooms and the popular game Minecraft

Users can log into these virtual worlds using a compatible device such as a VR headset, a gaming console, or a computer with a stable internet connection They would typically create an account with the platform, choose an avatar or character to

represent themselves in the virtual world, and interact with other users through their

avatars

Once inside the Metaverse, users can explore the virtual world, socialize with other users, participate in activities, play games, and even conduct business Some Metaverse platforms also offer tools and resources for creating and customizing virtual objects, buildings, and environments, allowing users to personalize their experience

In general, the Metaverse is still a developing concept, and there is no one definitive way that it works As more companies and developers invest in the technology, we can expect to see further innovation in how users can log in, interact with others, and use the Metaverse

1 Gaming industry In the metaverse, users will be given a whole new gaming experience via AR and VR headsets Gaming is one of the major sectors that make use of Metaverse to provide gamers with an uplifting experience in a world of combative gaming People will engage in games in a way they have never seen before More specifically, with Metaverse, an immersive virtual world is replicated, just like the real world setting with outstanding effects Metaverse games aim to attract users and offer them a once- in-a-lifetime experience Metaverse plays a crucial role in expanding a higher-level, three-dimensional environment in which gaming elements and user’s interactions are more customized than in that of two-dimensional Metaverse has changed the gaming industry considerably, it has been more appealing to human-kind in a way that many people are aware of its popularity

Examples: Roblox, The Sims, Minecraft are clear examples of how well metaverse is applied in the gaming industry, these games are phenomenal all over the world as they use the system that helps connect people and interact with objects in games just like in the real world

2 Education and training 2.1 Education

The outburst of Covid-19 pandemic changed the way humans teach and learn One of the changes was the application of Metaverse in education and it has been declared the future trend with really high potential So what makes people indicate that the metaverse will change everything? As mentioned, metaverse can be applied effectively in education aspects It is believed that metaverse can be used as a new educational environment It allows students to utilize wearable devices to enter the educational setting anytime, anywhere without being limited Digital identities are created when students get access to Metaverse which help interact with one thing or another through items (avatars, virtual learning resources, ¢.g.) When Mark Zuckerberg first rebranded Facebook into a virtual way, we can realize that this can be instantly applied in the education field Both learners and teachers will be served with a lot of amazing learning activities, which assist students to explore and create a whole new world Moreover, metaverse can open a whole new window for education, there are some possible applications that maybe assisted through metaverse:

e@ Blended learning: A term refers to a fusion between traditional direct and online learning Especially in the pandemic area, learning platforms such as Zoom, Meet, Teams have become a norm Though the pandemic is now off, blended learning is still expected to be an alternative for in-person learning e Language learning: In the metaverse, students can join various bilingual

activities, such as dialogue practices or role-plays In this case, metaverse could locate learners in an intense and simulated learning context, which helps upgrade not only language but also social skills

2.2 Training Innovative technologies nowadays require a certain range of skills but also offer a lot of learning opportunities Metaverse training ensures the best rewards for both employers and employees Metaverse training could be a breakthrough as it is fast and beneficial in a moving milieu of work training The metaverse is proficient in creating an effective training method which creating the following benefits:

® Increase training efficiency up to four times: VR can be a great help in metaverse working training With VR training, it’s probable that workers can be trained through some online platforms with time productivity

e VR content is emotionally dynamic: Emotions are apparent during the VR experience VR-based training helps individuals feel like they have a more proper experience than in the class, especially with reluctant students In other ways, it helps shy students gain confidence because the VR-training can be used in a low-stress, isolated environment As a result, it allows learners to gain greater confidence and the ability to apply practical experience

3 Healthcare Just like the above aspects, metaverse have the potential to revolutionize medical healthcare system in various ways:

e Virtual medical consultations: The metaverse makes it possible for health experts to provide virtual medical consultations to patients Patients are able to interact with doctors, experts in a completely virtual environment which help reduce the need for physical appointments, minimize travel time, and increase availability of healthcare services

@ Mental health therapy: A safe and anonymous space will be provided for individuals through metaverse Patients can interact with therapists in a virtual atmosphere, which can reduce the disgrace associated with mental health issues and may provide access to therapy for those who don’t have it

e Disease management: Many people make use of metaverse in order to monitor and manage their healthcare situation Patients can track healthcare metrics such as blood pressure, blood glucose level and weight in a virtual environment Moreover, users will be provided with personalized coaching and

support

® Fitness: Through virtual exercise class, fitness enthusiasts are much more encouraged to do physical activities and healthy behaviors They can track their progress and receive feedback from virtual personal trainers

Those are just a few examples of how the metaverse can contribute to the development of healthcare As the technology continues to advance, we might witness some more interesting applications that metaverse can bring about for healthcare

4 Real estate and architecture The metaverse real estate market is on its way to become a major industry Several world’s largest businesses and retailers are buying virtual land and building virtual properties on it It proves that the metaverse will become an upward trend in the future Here are some aspects that metaverse can get involve in real estate and architecture:

Virtual building tours: Real estate companies can fabricate virtual properties which can be discovered by buyers or renters Virtual visit allows people to experience construction without having to physically visit it, which is really convenient for customers who live far away

Virtual staging: Virtual staging involves creating a virtual version of a property and then adding scheme and furniture to make architecture look more appealing This may be a cost-effective alternative to physical staging and can help buyers visualize the potential of a property

Virtual real estate investment: Investors can purchase virtual real estate within the metaverse and release it to individuals or companies who want to create their own virtual experience or businesses Even some real estate auctions can be created through metaverse so that real estate trade can be implemented properly

Virtual design: Architects can use the metaverse to create virtual 3D models of infrastructures, allowing them to explore different building materials and design options so that they can finish the models in an exact way This can do wonder for architects and clients as it assures the quality of a building

Overall, the metaverse has the potential to transform the way real estate and architect design, collaborate and connect with clients and stakeholders By leveraging this technology, people and businesses can create more engaging and immersive experiences, while also improving the effectiveness of these industries