Undoubtedly, it is almost a need of humanity to abstract from reality, escape from their environment, get out of the routine or simply seek entertainment. Perhaps it has been the genesis of inventions such as the Internet, video games, and many entertainment scenarios. However, this need poses the existence of an alternate reality to our own, of a virtual world, such as the metaverse.
What is the Metaverse? This term is being heard more and more after a talk by Facebook CEO Mark Zuckerberg in the podcast of the American publication The Verge and because Zuckerberg assured, in his Facebook account, that the metaverse would be the new direction of the company.
It is not a new term. It was created by the writer Neal Stephenson in the science fiction novel “Snow Crash,” a novel that is now almost three decades old. In “Snow Crash,” a metaverse was a virtual world, a collective space parallel to and amplifying external reality. It was a distorted metaphor for the real world, a place where it was possible to escape human limitations.
As it is conceived today, the metaverse is a virtual and collective space in which specific environments are recreated in which people can interact with each other, carry out multiple activities and, in addition, elude the limitations imposed by the real world.
It is a concept that is not new to video games and science fiction lovers. For decades video games have allowed us to transform ourselves into “avatars,” as in the case of “The Sims,” “Second-life,” and “Fortnite.” In addition, movies like “Ready Player One” by Steven Spielberg recreate the concept of a metaverse in a world called Oasis. The Oasis was a continuous environment in which each person had an avatar with a surrealistic presence and where they could interact with others, dance, attend concerts, play, and go to the library. In short, carry out any activity.
Facebook is betting on this new world and intends to stop being a social networking company and become a “metaverse” company in 5 years. And with this, the 2.5 billion users of the social network will have access to a new world. In fact, Facebook had already been betting on this for quite some time. For example, in 2014, it bought Oculus, a virtual reality technology company.
A new world generates a universe of opportunities, a virtual space in which, in addition to choosing your ‘identity or avatar, you can play, work, enter meetings, meet friends, shop, and many other daily activities. Such a place at the time we live in seems to be very timely. It would be a virtual reality that would allow us to exist together, whenever and wherever, without the risks of physical contact.
The growth of the ‘metaverse’ could transform all industries, just as the Internet once did. It would be a world of infinite presence, unlimited concurrency, and high accessibility in real-time, which opens up a range of possibilities.
New e-commerce would emerge; the entertainment business would have a perspective without limits, only the imagination; the metaverse would be a solution for all the activities that today are limited by the impossibility of accessing the experience. For example, for industries such as education that have been so affected by the forced migration to online education, perhaps attending 3D classrooms would be the solution to the limitations of the learning experience. The metaverse may allow us to address many of the challenges posed by the now somewhat trite term “the new normal.” Still, it certainly encapsulates the changes in our environment that will be permanent.
For this alternate world to exist, many things will have to happen: new protocols, standards, devices, processors, software, and even payment systems will be necessary. The latter, in continuous evolution, the non-fungible tokens or NFTs make sense in the virtual world and suggest the existence of a new economy.
The economy is not the only thing that would change. The possibility of doing “anything” raises important ethical dilemmas about the good and bad that can be done in a virtual world, in theory, without consequences in the real world, an aspect that is not so true considering that it would have an impact on our behavior, human relations and, in general, on society.
The metaverse poses many benefits but also risks, such as dehumanization. This is indeed a risk that is run with all technologies; however, it is potentially more complex in this case since it not only replaces man in an activity but, in a way, suppresses human interaction. If we mention some other complex aspects that the metaverse brings, we can highlight the potential addiction that could arise from an immersive experience such as the one proposed. Let us not forget another important point: the use and security of information on the Internet is a complicated issue to handle in a virtual, concurrent, and accessible world. It would be an enormous challenge.
Undoubtedly, the metaverse is not something we will soon be able to access, but it is not as far away as many think. Even though there is no certainty that it will be a reality, companies are working on this alternate universe. There is even a metaverse fund listed on the New York Stock Exchange, which makes it very possible.
The metaverse would be perhaps the most disruptive creation when it becomes a reality. It would come to change everything and will pose dilemmas that will put society to the test and the very concept of humanity. Are we prepared for a change of this magnitude?
Writed by Omar Otalvaro
Consulting Manager
BPS
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