The Promise of Metaverse

Computers, phones, wireless devices, the Internet. Nowadays, it is difficult to think how our lives would function without such appliances. The truth is, technology has influenced our daily routines for decades now, evolving along with us – and it continues to evolve even more so.

From machines that took hours or days to operate, we can now perform different tasks in a matter of seconds and, the faster, the better. The clearer we see what we are doing online, the more realistic we crave it to be. One of the many advancements technology has done for us is the creation of virtual reality .

Once a distant idea that was then incorporated in videogames and pop culture, virtual reality is in the spotlight now more than ever, since Facebook’s CEO, Mark Zuckerberg, rebranded the company and changed its name to Meta Platforms. His goal is to focus on developing and expanding what he has called the Metaverse.

Image from: H-Blogger

Metaverse is a 3-dimensional virtual world for social connections, delivering a mixture of virtual reality with what videogames already do. It will take years, maybe even a decade , for Metaverse to be given to us. And yet, some of its characteristics are already here with us.

Meta wants to connect people through avatars that are able to be seen with the use of headsets. Zuckerberg believes the Metaverse will substitute the Internet we are familiar with – it will be an extension of it. Travels and entertainment will be able to happen through virtual reality.

The focus of such project is on socialization, business, retail and even real estate. Investors already expressed interest in NFTs and crypto, envisioning the money of the future to be in the Metaverse rather than physically with us.

Image from: The World Economic Forum

And not just them. Big companies like Nike, Microsoft, Walmart, Gucci and others have already voiced the projects they plan to develop in the Metaverse – Nike is developing Nikeland, an online world where Roblox (yet another videogame giant) avatars use Nike sneakers.

With Walmart, people will be able to do more than just shopping. The company wants to evolve and study how technology shapes the future of shopping, and is working on developing their own cryptocurrency. With time, it is believed other retail brands will join the Metaverse and develop their own currencies as well.

Real estate is another market that has gained interest in the virtual universe – people will be able to invest in virtual housing if they so wish. In fact, investors in different industry sectors have placed their bets on Metaverse. And the same goes for businesses. On Metaverse, organizations will be able to close new deals, create new opportunities, and even hold virtual meetings with the use of avatars.

However, many point out that Metaverse is not going to fix the issues we already face with the Internet – harassment, hackers, cyberbullying, depression, addiction or sedentarism. It will also not fix our problems related to world hunger or health care access. Having retail brands promising services already offered in the physical world is going to make access to such basic needs even harder.

Image from: Forbes

Metaverse was created with the intention of making interactions easier, as a way for us to stay close to those who are far – a function the Internet as we know it already offers. But the Metaverse wants to change that – the Internet that we are so familiar with.

The Metaverse is the future of itself – of technology and social issues alike. The problems we face as a society will not be resolved with the Internet, but with technology itself. And, perhaps, Metaverse is one step closer to doing so.

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