Rant

Is the Metaverse Worth the Hype

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Metaverse

Metaverse brings a shift that will change most business models just like the internet did decades ago. Thinking that metaverse is just hype will make you lose opportunities for early participation. Metaverse is more than the hype. Top company CEOs like Mark Zuckerberg has announced their mission with metaverse. If Zuckerberg makes it a success, most social media will soon be happening in the metaverse.

From the use of technological advancements like virtual reality and artificial intelligence, the metaverse is the future, and we have to accept it. The COVID-19 pandemic changed the world significantly. Remote working became more dominant after the pandemic. People have embraced it and love working remotely. The future generations may never have to go to the office and could work remotely in a virtual space. Several factors will play a role in the success of the metaverse; how people respond to the opportunity and the laws and regulations set by the governments.

Many of us are already living our lives online. Metaverse intends to give a platform that will add a human-social element by creating virtual worlds using AI, Virtual reality, and Blockchain. Gamification and interoperability are the main factors that will foresee success in the execution of the metaverse. Just like people will physically go to various places metaverse users need to experience consistency. If Metaverse is what it seems to be, then it is undoubtedly more than hype.

According to joystickgaming.io metaverse has gone beyond the hype and has started monetizing virtual games like Axie Infinity, the Sandbox, and Illuviam, and is also creating other income-generating projects. It is possible to move digital assets from one to the other without any constraints. Companies that will be able to emulate this interoperable model will be the metaverse bosses in the future.

In the near future, virtual reality technology will enable you to visit places while seated at home. Just some headsets and one can virtually transverse the world. I love how technology brings such experiences to people who wouldn’t get the opportunity to experience different places. But will the virtual experience feel like a real experience? People might forget real experiences and miss out on authentically experiencing things.  

The goal of moving into a virtual world is to improve our digital environment, which is close to reality. With more interconnected virtual worlds, metaverse users will be able to move around and enjoy the benefits. Metaverse technologies are only getting better due to the available advanced technology. 

From visiting places to buying real estate, there are a lot of things people will be able to do in the metaverse. Companies are establishing their work around the metaverse, and new startups have made use of innovation which yields a lot of possibilities. Another good example is, the metaverse can replace an online marketplace. People can start businesses, shop, and socialize in a virtual world. 

Metaverse is more than a publicity wave; companies who are using virtual realities should unite and develop an approach around the concept. The issues of data privacy and security should be looked into to ensure that users trust the idea. As technology advances positively, more negative advances are evolving. It is essential to be vigilant in protecting the user’s data.

Metaverse value is rising rapidly, with top companies investing in it. So, the biggest question is; do we want to watch the opportunity grow or dip our toes into it? Remember; do not invest more than you can afford to lose.

Image courtesy of Depositphotos

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