What would it be like to have a jacket like Superman’s that you could wear almost any place in the world?
To the point that you would go to great lengths to get it.
You no longer have to fight Peter Parker to get the Spider-Man jacket. Mark Zuckerberg wants to make sure that teleportation is a real possibility in the future. This is the genuine metaverse.
A 3D world without borders that would provide an immersive experience and allow us to do everything thrilling (from socializing to gaming to partying) as lovable avatars in a virtual environment would be ideal.
However, despite the fact that this sounds awe-inspiring, the concept has been received with a great deal of criticism.
Many call it a dystopian dream. Some people feel that Mark is making the correct move ahead and is in the proper position to herald in the future of the internet, while others say that he is making an insane effort to salvage the meta community that is sinking.
But with the odds stacked against him, do you think that Mark Zuckerberg will be successful in this quest? Which tempests would he have to endure in order to paddle the boat from the metaverse to the shore?
Grab a cup of coffee and settle back as we delve into the narrative of the metaverse and discuss the opportunities and obstacles we will face.
Before we begin let’s look at:
What kinds of technologies are needed in order to actualize the metaverse?
In order to make the metaverse project a reality, a significant amount of ground-breaking technology will have to be included in it. First, let’s take a look at the three primary pillars that serve as the foundation for its growth.
1) Virtual Reality: If the metaverse may be thought of as a reflection of our own world, then virtual reality can be thought of as a doorway into that realm. It is a technique that creates an immersive, three-dimensional environment by using modeling and computer simulations. People can experience this world with the help of interactive tools like virtual reality headsets. Because your senses are also engaged in the virtual environment, you may experience what it’s like to move, respond, and even feel afraid of doing things like falling down from a height.
2) Augmented reality (AR) is a technology that superimposes elements of the digital world on top of the actual environment. Imagine that you had a set of glasses that enabled you to see the way to the most desirable hotel room in a city where you had just arrived. You won’t have to worry about the tension of having to check your phone at random now, which is a huge relief.
3) What would it take to be able to conduct transactions and keep track of information in the metaverse? – The goal of the blockchain is to make a decentralized ecosystem where everyone has full control over their own data and users can run parts of the virtual world by exchanging NFTs or using cryptocurrencies to make financial transactions. This is the role that the blockchain is intended to play.
The use of all of these technologies together will provide users with the most satisfying experience possible in the metaverse.
Now that we have that out of the way, let’s find out what roles Mark is playing in the metaverse, as well as the true reason he’s going all in on the project. (Is it truly due to the fact that he is preoccupied with the future, or is there anything else?)
You would probably agree that Mark Zuckerberg is doing a brave thing by taking the lead in today’s perilous metaverse journey. A journey that started with Facebook’s acquisition of Oculus for $1 billion in 2014, a business that dramatically revolutionized the virtual reality (VR) and gaming industries in every way possible for the better.
However, the most courageous action that Mark took was when he declared in the year 2020 that the family of social applications would be renaming themselves as Meta.
Mark took us on a tour through a fiction-enhanced tale about what the metaverse will be like and why anybody should consider going along for the merry ride. The tour was reminiscent of a teaser for an Iron Man movie ( turns out later even Meta employees would think of it as the last place to spend some good time).
What exactly is the story behind Facebook changing its name to Meta?
Without a shadow of a doubt, Facebook was going through a difficult patch at the time of the rebranding (the conflict hasn’t finished yet), fighting against the negative press and legal action over users’ privacy.
At the same time, the massive social media platform was still working hard to recover from the damage it took when the dark lord “Tiktok” stole a sizeable percentage of its Genz user base.
Not only that, but Apple also pretended to be a privacy advocate on one side, giving people the chance to stop a social media giant from collecting their information. Not only that, but Apple did this (iin a way that subtly poses Facebook as a data theft company).
At this time, the only options available to captain Mark were to either watch the ship drown or bet everything on a lifeboat, which was the metaverse. He chose to watch the ship sink.
There has been a range of opinions expressed on the long-term effects that might have on the firm. People like Raj B. Shroff, founder and Chief Executive Officer of PINE, believe that the rebranding would help Facebook achieve its broader ambition. On the other hand, people like Ryan Matthews, Chief Executive Officer of Monk Consulting, believe that the rebranding is nothing more than a ruthlessly ambitious and unconscionably self-serving move.
Let’s have a look at the following things before we investigate the current condition of Meta’s metaverse:
What would take place in the event that the metaverse was a huge success?
The metaverse is being promoted as the internet of the future because it is said to be more immersive and addicting than anything else that has come before it. What this entails is the opening of a door to a market that is worth countless billions of dollars. A once-in-a-lifetime chance for anybody who will be taking the lead, similar to what Google did with the internet and what Apple’s iPhone did to make a significant break in the smartphone sector.
If substantial expenditures were made in infrastructure by the year 2030, Citibank predicted that the value of the Metaverse would reach around $13 trillion by that year. This vision and promise is not concealed from any of the major participants in the technology industry.
Sony, Microsoft, Google, and Apple are all making massive investments in a variety of augmented and virtual reality technologies, and at the same time, they are rushing to acquire any smaller business that resembles a possible competitor.
Even so, Mark Zuckerberg is willing to change Facebook and spend billions of dollars on research, which are both high-risk moves. His objective is very clear: the metaverse is the future, and Meta will be the big brother who ushers in this new era by setting the pace and controlling the infrastructure.
How far along is Meta in the process of constructing the exciting new universe that is the metaverse?
Mark is hoping for nothing less than a billion users for the metaverse by the end of the decade. He believes that these people would collectively eagerly spend billions of dollars acquiring virtual lands and properties as well as creating their own one-of-a-kind 3D spaces and objects if they had the opportunity.
Do you foresee yourself being a part of the mass of individuals who will be more preoccupied with a virtual reality place than the real world?
At this time, Meta’s Horizon universe has an average of 200,000 visitors each and every month; yet, a large percentage of these individuals do not return after their first visit. The following is what a member of Generation Z who wished to remain anonymous had to say about it:
“A desolate landscape dotted here and there with lonesome, legless humans walking about aimlessly.” A universe in which McDonald’s exists, but there is no such thing as French fries and a world in which romantic partners are unable to ever kiss. This is a digital version of…”
The media is doing a great job of making it appear as though the $15 billion that was poured into it was wasted by comparing it with a crappier version of Omniverse that was built a decade ago. The internet is full of negative reviews about Horizon world, and the media is doing a great job of making this happen.
However, Horizon world is just a virtual reality (VR) application; it is not the totality of what the Metaverse is about, nor is it the purpose of the $15 billion investment that was made in it.
The truth is that the metaverse that Meta is now building is still in its formative years. The introduction of a disruptive technology of that magnitude almost never goes off without a hitch, as shown by the megaphones and the internet, respectively.
However, in order for Meta to survive the loss of nearly 70 percent of its stock value, there is a lot more work that has to be done beyond making the legless avatars of Horizon world.
Who are some of the other major players besides Meta who are investing in the metaverse?
Mark’s name is constantly brought up in conversations about the metaverse (albeit maybe not always for positive reasons), but the other major players, particularly Apple and Microsoft, aren’t going to stand by and let him hog all of the attention.
In the action that the FTC now has pending against Meta, the FTC claims that Meta is trying to acquire Within Unlimited because it is concerned that Apple may also attempt to acquire the firm. If Microsoft prevails in its fight against the FTC in the courts, the software giant is prepared to take on Activision Blizzard for an astounding $69 billion.
Apple has pledged to introduce its very first range of virtual reality (VR) and augmented reality (AR) headsets within the next few weeks. This has stimulated a great deal of interest and inquiry. Everyone is curious about two things: the first is whether it will be a revolutionary gadget like the iPhone, and the second is how it will sync with other Apple goods already on the market.
A diverse range of activities is now taking place across a variety of business sectors in metaverse hatcheries. It’s important to acknowledge how much Nintendo, Activision Blizzard, Roblox, and Epic Games have already helped the virtual reality gaming industry.
Just as Herman Narula, the Chief Executive Officer of Improbable World, said, the competition has just begun, and the victors will be the companies that place a greater emphasis on the creation of experiences than equipment.
It is not about immersion or virtual reality gear; rather, it is about being present. It’s the notion that there are more intriguing ways to connect with the environment, and that these interactions lead to experiences that are satisfying in and of themselves.