đ”âđ« Is The Metaverse The Future Of Our World?
Issue 29 - Technology
Facebook is one of the top 10 most valuable companies in the world, and it decided to change its whole business model into a new technology. About a year ago, Facebook changed its name to Meta and announced that it would be investing 10 billion dollars into the Metaverse, but what is all this? Why is it happening? In this article, weâll take a deep dive into the insane world of Metaverse! Make sure to like, share, subscribe, and follow me on LinkedIn! Iâm still running my monthly giveaway so make sure to take a look at the below!
What is the Metaverse?
The concept of the Metaverse is based on this simple idea: Weâve always been evolving towards a more engaging way of doing things. We used to read books, then look at pictures, watch videos, and the Metaverse is the next generation of this. Now, imagine something that youâre doing, like playing a card game with friends, but imagine doing it as quickly as snapping your fingers. The environment could be wherever and whatever you want in a living, shared virtual universe. This is Metaâs vision for the Metaverse, which is done with a combination of Augmented Reality (AR) and Virtual Reality (VR). The company aims to get as many people as they can on board this idea by reducing the cost of some of its existing products, such as the Oculus Quest 2.
Now all of this begs the questionâ why is Meta/Facebook doing all of this? The answer is, for one overarching reason. Meta has acquired different companies over the years like WhatsApp and Instagram. Facebook is Mark Zuckerbergâs baby that started it all, and the problem is that the younger generations are opting for platforms like TikTok, Snapchat, and Instagram (which Zuckerberg doesnât care about too much). So as a result, Meta announced that they would be devoting most of their resources towards the Metaverse, and said they would be investing ten billion dollars into the industry.
The Benefits
There are seven different ways that I think the Metaverse will benefit us.
Live Your Dreams - The Metaverse will allow us to do many fun activities while being in the comfort of our homes. In a couple of hours in real-time, we could be going snowboarding, then exploring a tropical resort in the Bahamas, and then doing fun activities at the beach. On top of this, transportation will be easier than ever. Since we wonât have to physically drive anywhere, we could simply just press a couple of buttons or click a link to get somewhere.
Self-Expression - The technology will also allow us to express ourselves however we want. We will be able to create a 3D avatar of ourselves and customize our appearance. For example, we could be three inches taller, have a smaller head, have a different eye color, etc. With the Metaverse, it wonât feel like you are constrained by your physical body because you can customize your appearance in every aspect.
Education - The way we learn things will be completely different from the way we do now. Instead of googling things and reading about them, we will simply be able to tap/touch and display information at a glance. Not to mention the fact that it will be more interactive than ever. In the Metaverse, we will be able to use our hands to spin around the planet Mars to observe it, or maybe even do a virtual science experiment. The possibilities are endless.
Productivity - Our efficiency will also level up because we will be able to work in our personalized optimal work environment. Whether that be on the beach, in the jungle, outer space, or anywhere else, with Metaverse it will all be possible. Meta is also currently on EMG (electromyographic) Devices which detect and intercept impulses in your nerves. You could send text messages to people by just thinking about what you want to say. So in the Metaverse, we would be using our voices and making simple gestures as opposed to tapping or pushing things.
Environment - The Metaverse will also have a huge positive impact on the planet. Producing a car already results in a lot of carbon emissions and that doesnât even factor in using it. To create a virtual car, carbon emissions would be close to zero. However, we wouldnât even be using cars in the Metaverse unless we specifically wanted to drive a car, because otherwise, we could teleport everyone we wanted to go.
Virtual Economy - With this technology comes a new economy. Meta is developing a store within the Metaverse called the âHorizon Marketplace,â which not only allows them to sell goods to consumers, but also allows people like us to sell things to others. We could be selling virtual clothing for our avatars, an experience, a virtual world, or almost anything! Plus weâre not restricted to the physical materials we can use, but only by our imagination and coding skills. If youâre wondering if people could just make duplicates of other peoplesâ creations and sell them as their own, I highly recommend you check out my article on Cryptocurrencies (link here). Most likely, products being sold will be secured using Blockchain technology. I go into more detail about this in the linked article, but essentially this will allow people to authenticate virtual goods.
By the way, if you are enjoying this article, please be sure to share and subscribe. I have a promotion going on which allows new and existing subscribers to get a 1-month free trial to Skillshare (the best place to learn any new skill). Youâll also be entered into a monthly giveaway. This month we have free custom coasters, free Starbucks coffee/tea, a free mini tea box, and a 50% off coupon for an Xbox Series S! Winners will be drawn on the last edition in March!
3 Key Downsides
The Metaverse sounds very exciting and cool at first glance, but there are three key downsides worth considering as well.
Data Collection - With the Metaverse comes immense data collection which is used to personalize your experience. Pretty much everybody has heard of the horror stories that Facebook has had with data collection, and if we are supposed to be in this virtual universe for lots of time in a day, it certainly needs a high level of trust. By the way, this isnât just data collection for what you do while youâre in the Metaverse, but also data about how your brain functions. You most likely wouldnât give your family this data, but youâre willing to give it to Meta??? The point here is that with the Metaverse, comes a whole layer of trust that we need to put into the company, and most people probably arenât very fond of that. In the Metaverse, users will have their own world where the algorithm may be finding out what users like and donât like. Additionally, users will constantly be fed information that they like. This may cause users to lose touch with the real world, something I will discuss more in the 3rd bullet point.
Security - Meta already has entire departments of their company moderating their website for terrorism, hate speech, and more. With the Metaverse, this sort of moderation would have to rise exponentially. Literally every action would have to be moderated, for example, the kinds of tattoos people have on their avatars, the clothes they wear, the type of person they are trying to simulate, and so much more.
What About Us? - My main question about the Metaverse is: what happens to us? At the end of the day, weâre still humans. We need to eat, stay hydrated, exercise, have a family, and do normal human things. If weâre in the Metaverse, we will be so invested in our virtual selves that we may forget about who we are. I could imagine this creating a lot of mental health problems because, in the virtual world, we could be this very handsome-looking person, but when we take the headset off and look at ourselves and remember we arenât that person, it could potentially hurt our mental health.
So in conclusion, I have a couple of thoughts. Ultimately if the Metaverse is going to succeed, there will need to be lots of trust in Meta. For example, instead of Meta saying âyour data is safe with usâ, most people would probably want everything to be an open source so they know where their data is going. This applies not just to data collection, but to moderations, restrictions, and so much more. At the end of the day, if Meta wants to be successful, I think it mainly comes down to trust.
Thanks for reading this weekâs article and I hope you learned something new about the Metaverse and how it will (hopefully) revolutionize our world for the better. Iâll talk to you next week!
â Luke Rapaka
Acknowledgments: Thank you to my friend Sharvi Shah for helping me edit this article! (LinkedIn Profile)
One must never forget that Meta was formedâand continues to operateâas a commercial entity whose primary objective is to increase value for investors. As such, the interests of âthe rest of usâ will always be second.