A few years ago, the Metaverse was all the craze. People were talking about how it was the next big thing.
Of course, it was a major hype cycle, one that ended with Zuckerberg's Meta losing billions of dollars. This does not mean, however, that it is dead.
What is going on with this?
Like with most things technological, it is a convoluted answer. There are many pieces to consider and we are in the early phases of what this will be.
So let us take a look at the Metaverse and how it is progressing.
Image generated by Ideogram
It is always best to define what we are talking about. Unfortunately, as with most things technological, there is not a clear cut answer to the question "what is the Metaverse".
The answers will vary as we are dealing with forecasts and projects.
That said, we can narrow down some parameters. Essentially, we are dealing with The Spatial Web. This is a 3D realm as opposed to the present 2D iteration. How this is accessed is still a mystery. Nevertheless, we are going to watch "the Internet come to life".
Here is where people's opinions can enter. What is involved is still up for debate. Many are working on solutions, albeit with less publicity (and zeal) as before. Meta is still in the game although generative AI has taken centerstage at that company.
Ultimately, we are looking at a mixed reality, multi-world. Think of this like websites coming to life. Basically, they will be moved from our screens and exist in a 3D form.
For example, shopping at a site like Amazon or Walmart will not be 2D. Instead, we will be moving down the rows, with items present as 3D images. Depending upon the scope of things, we might have a digital twin which will allow us to try on things such as clothes or shoes.
In other words, this is much bigger than just gaming.
This is going to be an interesting situation.
Some of the most dedicated companies to this concept come from the gaming arena. This is not surprising since we are dealing with something that transitions very easily.
However, as noted, this is just the tip of the iceberg. The Metaverse is going to incorporate everything. It will be where we works, shop, play, and are entertained.
All of this is going to radically alter society.
One of the keys is how we access this. Many companies are working on headset, glasses, and contact lenses. Which of these replaces the smartphone is anyone's guess. This is just one sign that we are nowhere close to this concept being a reality.
Many like to say that "life is but a game". This might end up being closer to the experience of most than we think.
As we dive into this realm, especially if it is deep into the Age of Abundance, then we will see how this is going to affect how people engage. We will see life as a game, experimenting and investigating different worlds. If we arrive at a state where major economic productivity is realized, then we can see how time will be valued differently.
Breaking the time for money paradigm is crucial for the success of the Metaverse.
While the discussion around the Metaverse has waned (a new hype cycle might be starting), the advancement is steady. Few companies are working on the Metaverse. On the contrary, we see development taking place in areas such as AI, mixed reality, compute, and other components necessary. It is akin to the Internet. That was not a single development.
We are going to see individual advancement throughout the rest of the decade. What this looks like at the end of that time will depend upon how things converge. Forecasting them might help although things tend to move in directions we did not anticipate.
Nevertheless, the Metaverse, aka spatial web, is still a thing. It will just take a while to develop.
