Vegavid Technology

Vegavid Technology is on a mission to transform the world into future technology. We are the most trusted and fastest-growing company, helping millions with our products and services across the globe – from individuals to the largest institutions, with our sheer expertise in blockchain technology (DApps, Defi, crypto-currency exchanges, NFT marketplace), cryptocurrency, data analytics, artificial intelligence, machine learning, IoT, smart contracts, OCR solution, image processing, oracle enterprise solution etc.

The R&D division at Vegavid is led by a diverse group of highly talented individuals working to innovate new technologies in the Blockchain and ML/AI space.

Vegavid, your reliable technology partner, is fully established to offer you an integrated portfolio of products, solutions, digital marketing, and strategic and technology consultation services.

Our product portfolio includes:

1. Crypto-Currency Exchange: With our expertise in enterprise-grade architecture solutions, we have created the fastest and most secure infrastructure and application layer for Crypto-Currency Exchange with feature-full and customizable capabilities.

2. ICO Launchpad: The most secure and customizable Launchpad for private sales to investors with integrated KYC, AML, Payment gateways, and social media marketing modules.

3. Crypto-trade Bot: Smart trading platform powered by Machine learning and market sentiments.

4. NFT platform: White-label solution for NFT marketplace for non-fungible and partially-fungible tokens.

5. OCR system: Extract information from images and videos in real-time.

6. Smart Customer Behaviour engine for banks: Reduce NPAs, improve the quality of loans and identify good customers for the second line of credit or Top Up loans.

7. Metaverse: We solve complex problems in AR and VR using emerging visuals and interactive metaverse technology.

In today’s time, the term Metaverse is everywhere. It is considered to be the next big technological platform, that is attracting online game developers, social networks and other technology leaders.

Two of the most popular organizations, Microsoft and Facebook, have recently entered into the universe of Metaverse. They are focused on utilizing the concept of Metaverse technology to the fullest.

Even Google has been working on metaverse-related technology for years.

However, many people are still skeptical regarding this Metaverse Technology, they don’t know what it really means, its characteristics and what all myths are related to it? Here’s what you need to know.

What is Metaverse?

Metaverse is an augmented reality platform that allows users to create interactive experiences that merge the digital world with the physical world.

The platforms enable people to perform iterations of day-to-day activities in the virtual space, creating a virtual economy that runs parallel to our real one.

The term Metaverse was first used by Neal Stephenson in his 1992 novel Snow Crash. In his book, Stephenson described Metaverse as the ultimate evolution of the internet. His novel sums up pretty much everything about Metaverse Technology.

Snow Crash is not the only book that talked about Metaverse Technology, after that several other books, movies and television shows were released, that were dabbled with the concept to varying degrees.

Currently, the technology is not in its full existence, but there are some platforms that contain metaverse-like elements, Video Games Industry is one of those platforms. The industry offers the closest metaverse experience to the people. Developers have pushed the boundaries of what a game is through hosting in-game events and creating virtual economies.

Besides supporting gaming or social media, the metaverse combines economies, digital identity, decentralized governance, and other applications.

Future Of Metaverse

Several technological-driven companies preemptively claiming to be integrating with Metaverse technology, are the reason behind the increasing popularity of the solution.

Currently, there are several activities that take place in a siloed environment, but soon these activities can take place on a single metaverse platform. These activities are:

• Purchasing gifts for online avatars
• Buying digital lands and constructing virtual homes
• Participating in a virtual social experience
• Shopping in virtual malls
• Virtual classrooms

In today’s time, we can find many individual use cases of Metaverse. The organizations are creating their own version of the technology that is being adopted, globally. However, the adoption of the technology is still nascent and fragmented, currently.

Features Of Metaverse

• Boundless- As a 3D virtual space, the metaverse eliminates all types of barriers, physical or otherwise.
• Persistent- Metaverse can't be unplugged, reboot or reset. Users can enter the Metaverse universe from anywhere and at any time.
• Decentralized- The metaverse isn't owned by a corporation or a single platform, but by all of its users.
• Immersive- Whether you're using a VR headset, AR glasses or just a smartphone, you'll be able to enter a new level of immersion and interactivity, where all human senses are fully engaged and users feel more present in their experiences.
• Virtual Economies- Metaverse participants are able to engage in decentralized virtual economies powered by cryptocurrency like Sensorium Galaxy's very own SENSO.
• Social Experience- Every participant in a virtual world takes part in co-experiences and helps co-create the future of the metaverse through user-generated content, from virtual creations to personal stories and interactions with AI-driven avatars.

Even though the technology is being accepted globally, all this interest is generating a lot of myths around Metaverse. Let’s bust some myths:

• Metaverse Is New- When Marc Zukerberg rebranded Facebook to Meta, many people thought it is a new technology and appreciated him for his futuristic idea. However, the fact is that the concept was first introduced in 1992 by Neal Stephenson, and Zukerberg was inspired by his idea. He capitalized on a trend that was started a decade earlier Stephenson in his novel Snow Crash.
• Concept Become Real Today- Virtual worlds that we enter through advanced VR and AR glasses or Hololens are indeed nothing new. Yet these immersive worlds are not the Metaverse everyone is suddenly talking about.
• Metaverse Platforms Are Not Real- Virbela has been around since 2012, an impressive feat, but there are other platforms that have lasted even longer. Second Life is probably the best example of an early metaverse platform that's still in operation and has active users who buy, lease, and sell metaverse real estate.

Blockchains are decentralized peer-to-peer networks with a shared append-only ledger maintaining a consensus through a protocol. The unique characteristics of blockchains make them potentially transformative for a variety of industries requiring secure online transactions. They have the potential to solve a fundamental problem of digital trust whereby two individuals can perform almost any arbitrary transaction without a centralized trusted authority approving their transaction. Financial transactions are a natural starting place for blockchain technology, however, with the development of smart contract technology numerous applications can be adopted such as voting, supply chain, electronic health records, estate and property records, and much moremorre.