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A metaverse illustration | Image: theface.com
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It is undoubtedly known that the word,
METAVERSE was one of the buzzwords in the last months of 2021. We have witnessed Facebook's name change, to
Meta; Microsoft's acquisition of Activision Blizzard, because of the metaverse; as well as many other metaverse-related decisions by big tech companies like Apple, Nvidia, Roblox, and even Google, all because of the metaverse. But some of my acquaintances still ask questions like:
What is the metaverse?
Why are people so excited about it?
Why are Fortune 500 tech companies so engrossed in whatever it is?
This goes to show that most people still don't know what this metaverse means. So, without further ado, let me help my friends understand what this is all about.
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The metaverse can be referred to as the future of the internet. Wikipedia calls it a hypothesized iteration of the internet, supporting persistent online 3D virtual environments through conventional personal computing, as well as virtual and augmented reality headsets. The metaverse is a kind of activity-focused virtual world on the internet based on 3D representations of real or augmented versions of the real world, wherein users can replicate their real-life activities and experiences via the use of avatars. The metaverse is more like a form of cyberspace where you can interact with the digital world, just like you do with the physical. In it, people can be able to live their lives just like they do, or even better than they do, in the real world. And when we say avatars, we mean life-like, life-sized 3D avatars, not the stuff on mobile simulation games. Hahaha…
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A metaverse illustration | Image: nytimes.com
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Being a world, just like the physical one, it will certainly include transactions. And the transactions of this virtual world will be done with virtual currencies (crypto, specifically). It is, therefore, true to say that the metaverse will have links with the blockchain, even if it may not necessarily be built on it.
Having understood the concept behind the metaverse, what are the advantages and disadvantages this virtual world will bring? What will it improve or destroy?
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Meta Platforms and its subsidiaries
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Advantages of the metaverse
Using Mark Zuckerberg's concept of what a metaverse would look like, let's dissect the advantages and disadvantages of a metaverse
1. It could empower people to live and express better versions of their lives/their fantasies
In the metaverse, you can be whatever you want. A cripple in real-life would certainly be able to create an avatar that would walk in the metaverse. The metaverse would infinitesimally loosen the limitations of the real world.
2. It will hasten real-life processes and actions
One of the most fascinating things about the metaverse would be the speed and ease with which things will be done. Transportation will be equivalent to tapping a link on your Chrome browser tab. Learning would be as easy as swiping your phones. That's what the metaverse promises to bring.
3. It will increase productivity
In the metaverse, you are the most productive version of yourself, with the most effective tools, and in the most productive environment.
4. It is speculatively more environmentally safe than the real world
We are conversant with campaigns of how man's activities have proved harmful to the environment and the planet at large. In the metaverse, pollution will be at a minimum. For example, the production and use of cars result in carbon monoxide and carbon dioxide emissions; whereas, in the metaverse, there is no practical need for a car.
5. It will form a strong basis for the New Economy
Facebook launched a social VR called Facebook Horizon sometime ago, and this social VR has a marketplace called Horizon Marketplace. On this platform, you can sell anything: virtual clothing, virtual experiences, virtual land, etc. In addition, crypto games with metaverses like Axie Infinity, Decentraland, etc, also have their marketplaces. All these financial aspects of the metaverse including cryptocurrency, NFTs, blockchain, etc, would be crucial to the New Economy.
Disadvantages of the metaverse
1. User data security will be threatened
We know about Facebook's bad reputation when it comes to user data handling, and this is happening when we are separate from our digital selves. Now imagine what it would be like in a metaverse. You'd literally be giving Meta full access to our brain activity, now how worse can that get? Ads of course.
2. You could be surrendering your understanding of reality
It should also be noted that since you can manage what is your world, you wouldn't be able to discern what is real and what is not. This could get to the point that the metaverse tells you only what you want to hear because it's what you want. If your friend's avatar gets hacked, you could even be interacting with a cybercriminal without knowing.
3. Content moderation would be hard
One of the hardest things about social media is content moderation. Facebook has tons of people searching for sexist, racist, discriminatory, etc, keywords to enable them to make the platform safe. Now, in the metaverse, content moderation would be harder than just searching for keywords because people's views could affect all sorts of things in a digital world.
The metaverse is an inevitable future, but we must understand what we're venturing into, weigh the pros and cons while ensuring that we prepare for the problems to come.
What do you think about Meta's concept of a metaverse?
