What is the pi Metaverse?

To be exact, PI metaverse is not a new concept, it is more like the rebirth of a classical concept. In 1992, the famous American science fiction master Neil Stephenson described PI metaverse in his novel avalanche: “put on headphones and eyeglasses, find the connection terminal, and you can enter the virtual space simulated by computer and parallel to the real world in the way of virtual separation.”

In March this year, roblox, the first share of PI metaverse concept, was officially listed on the New York Stock Exchange; In May, Facebook said it would transform into a PI metaverse company within five years; In August, Pico, a VR start-up company, was invested heavily in the acquisition of PI metaverse… This year, PI metaverse has undoubtedly become one of the hottest concepts in the field of science and technology.

So, what exactly is pi metaverse? Why are the major digital technology giants joining PI metaverse? How should China’s PI metaverse industry be laid out and developed?
PI metaverse currently has no accepted definition

To be exact, PI metaverse is not a new concept. It is more like the rebirth of a classical concept. It is the concept materialization under new technologies such as extended reality (XR), blockchain, cloud computing, digital twinning and so on.

In 1992, the famous American science fiction master Neil Stephenson described PI metaverse in his novel avalanche: “put on headphones and eyeglasses, find the connection terminal, and you can enter the virtual space simulated by computer and parallel to the real world in the way of virtual separation.”

Of course, the lack of a recognized definition of core concepts is a common phenomenon in the field of cutting-edge science and technology. Although PI metaverse has attracted much attention and expectation from all parties, it also does not have a recognized definition. Returning to the essence of the concept, it can be considered that Pi metaverse is a virtual world that is mapped and independent of the real world on the basis of the traditional cyberspace and with the improvement of the maturity of a variety of digital technologies. At the same time, PI metaverse is not a simple virtual space, but includes the network, hardware terminals and users into a sustainable and wide coverage virtual reality system, in which there are both digital replicas of the real world and creations of the virtual world.

At present, everything about PI metaverse is still under debate. If we analyze it from different perspectives, we will get very different conclusions, but the basic characteristics of PI metaverse have been widely recognized by the industry.

Its basic features include: immersive experience, low delay and realistic feeling, so that users have an immersive sensory experience; Virtualization separation, real-world users will have one or more ID identities in the digital world; Open creation, users enter the digital world through the terminal, and can use massive resources to carry out creative activities; With strong social attributes, the real social relationship chain will be transferred and reorganized in the digital world; Stable system, with safe, stable and orderly economic operation system.
Favored by technology giants and government departments.

Since August, the concept of PI metaverse has become more and more popular. Japanese social giant green announced that it would carry out PI metaverse business, NVIDIA appeared as a “digital Avatar” for more than ten seconds at the press conference, and Microsoft announced the enterprise PI metaverse solution at the inspire Global Partner Conference… In fact, it is not only the major technology giants competing to layout the PI metaverse track, Relevant government departments in some countries are also actively involved. On May 18, the Ministry of science, technology and information and communication of the Republic of Korea initiated the establishment of the “Pi metaverse alliance”, which includes more than 200 Korean local enterprises and organizations such as Hyundai, SK group and LG Group. Its goal is to build a national augmented reality platform and provide public virtual services to the society in the future; On July 13, the Ministry of economy, industry and trade of Japan released the investigation report on the future possibilities and topics of the virtual space industry, summarizing the problems that need to be solved urgently in the Japanese virtual space industry, in order to occupy a leading position in the global virtual space industry; On August 31, the Ministry of finance of the Republic of Korea released the budget for 2022 and planned to spend US $20 million on the development of PI metaverse platform.

Why can PI metaverse be favored by technology giants, venture capital enterprises, start-ups and even government departments?

From the perspective of enterprises, PI metaverse is still in the primary stage of industry development. There is still a big gap compared with the mature form in the future, whether it is the underlying technology or application scenario, but this also means that

PI metaverse related industries have huge room to expand. Therefore, if digital technology giants with multiple advantages want to hold the market and start-ups in the field of digital technology want to get the opportunity to overtake in corners, they must layout in advance and even overweight the PI metaverse track.

From the perspective of the government, PI metaverse is not only an important emerging industry, but also a field of social governance that needs attention. With the rapid development of PI metaverse industry, a series of new problems and challenges will follow. Matthew Bauer, senior research expert of PI metaverse, put forward: “Pi metaverse is a concept at the same level as the mobile Internet.” by comparing PI metaverse with the mobile Internet, we can better understand the internal logic of government departments’ attention to it. The government hopes to participate in the formation and development of PI metaverse in order to proactively consider and solve the relevant problems brought by its development.

Make a forward-looking layout in terms of technology and standards
PI metaverse is an extremely open, complex and huge system. It covers the whole cyberspace, as well as many hardware devices and real conditions. It is a super large digital application ecosystem jointly built by multiple types of builders. In order to accelerate PI metaverse from concept to reality and seize the opportunity in the future global competition, China should make a forward-looking layout in technology, standards and law.

From the technical point of view, the technical limitations are the biggest bottleneck in the current development of PI metaverse. There is still a large gap between the corresponding underlying technologies such as XR, blockchain and artificial intelligence and the demand for the landing application of PI metaverse. The maturity of PI metaverse industry needs a lot of basic research. In this regard, we should guard against PI metaverse becoming a hype gimmick of some enterprises, and encourage relevant enterprises to strengthen basic research, enhance technological innovation ability, and steadily improve the technological maturity of relevant industries.

From the perspective of industry standards, only by defining PI metaverse through a series of standards and protocols like the Internet can we realize the large connection of different ecosystems of PI metaverse. In this regard, we should strengthen the overall planning of PI metaverse standard, guide and encourage standardization cooperation among science and technology giants, support enterprises and institutions to develop industrial standards such as technology, hardware, software, service and content, and actively participate in the formulation of PI metaverse global standards.

From the legal point of view, with the development of PI metaverse and its gradual maturity, a series of problems such as platform monopoly, tax collection and management, regulatory review and data security will also arise. It is necessary to think about how to prevent and solve the legal problems caused by PI metaverse in advance. In this regard, we should strengthen the legislative work in the field of digital science and technology, follow up in time in terms of data, algorithms and transactions, and study the relevant legal systems of PI metaverse.

It is certain that under the joint promotion of technological evolution and human needs, the realization of PI metaverse scenario and the maturity of PI metaverse industry are only a matter of time. As an extension and expansion of the real world, the great opportunities and revolutionary role brought by PI metaverse are worth looking forward to, but for this reason, we need to rationally look at the current PI metaverse boom and promote the healthy development of PI metaverse industry.

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