History of The Metaverse Infographic

By 2030, The Metaverse market could grow to more than $5 trillion as reported by consulting firm McKinsey. As a result, many companies are already making an effort to establish their presence there.

In this infographic, we look at key events that led to the development of the metaverse as we know it today.

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Timeline

1983 – Birth of The Internet

TCP/IP, the Internet protocol that enables computers to communicate over long distances is adopted as the protocol standard for ARPANET (the predecessor to the Internet).

1992- Snow Crash

The term Metaverse is first coined to describe a virtual-reality based Internet resembling a massively multiplayer online game.

2003- Launch of Second Life

Dubbed as an early version of a metaverse, Second Life launches as an adults-only virtual world with a robust economy.

2006- Launch of Roblox

Roblox launches as online platform where users can create their own games as well as play ones made by others. In 2018, it becomes the biggest entertainment platform for kids under 13.

2009- Invention of Bitcoin

Bitcoin becomes the first cryptocurrency, enabling digital scarcity.

2012- Invention of NFTs (Non-fungible Tokens)

Colored Coins launches on the Bitcoin network and becomes the first ever NFT created.

2015- Invention of Ethereum

Ethereum becomes the first blockchain with smart contract capability, allowing apps to be created without being controlled by a centralized entity.

2016 – Launch of Oculus Rift

Facebook launches the first consumer virtual reality headset of the modern era after acquiring Oculus 2 years prior for $2B.

2018- Ready Player One Movie

Grossing $582M worldwide, Ready Player One depicts the concept of a virtual world to mainstream audiences.

2020- Launch of Decentraland

The first decentralized virtual world launches on Ethereum.

2020- COVID-19

COVID-19 lockdowns increases the number of hours spent in front of screens.

2021- NFTs Go Mainstream

CryptoPunks, Bored Apes Yacht Club and others launch NFTs into the mainstream. Monthly volume on OpenSea grows to $3.4B in August from just $328M the month before.

2021- Facebook rebrands to Meta

The term metaverse becomes an international buzzword. Searches for the term peaks on Google Trends worldwide coinciding with the keynote.

Sources:

• https://www.matthewball.vc/all/themetaverse
• https://www.datasciencecentral.com/history-of-the-metaverse-in-one-picture/
• https://www.britannica.com/technology/TCP-IP
• https://www.boxofficemojo.com/release/rl2977793537/
• https://www2.deloitte.com/us/en/insights/industry/technology/video-game-industry-trends.html
• https://www.oculus.com/blog/five-years-of-vr-a-look-at-the-greatest-moments-from-oculus-rift-to-quest-2/
• https://dune.com/rchen8/opensea