Metaverse: Expectations vs Reality

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The metaverse is described as the inevitable evolution of the internet.

Imagine a virtual world where billions of people live, work, shop, learn and interact with each other -- all from the comfort of their couches in the physical world.

In this world, the computer screens we use today to connect to a worldwide web of information have become portals to a 3D virtual realm that's palpable -- like real life, only bigger and better. Digital facsimiles of ourselves, or avatars, move freely from one experience to another, taking our identities and our money with us. The metaverse doesn’t exist - at least not yet. As of today, there isn’t anything that could legitimately be identified as a metaverse. A useful parallel for understanding its maturity – with a hat-tip to technology analyst Benedict Evans for the reference – may be the story of when telecoms entrepreneur Craig McCaw first heard about the internet. Reputedly, it was Apple Chief Executive Steve Jobs who described the implications that a globally distributed network of interconnected computers could have on communications, commerce and information. When Jobs had finished, McCaw’s reaction was: “Let’s buy it!”

Just as you can't invest in the internet, so, too, can you not identify the metaverse as a unique product, technology or service. A better question might be: what could become the metaverse?.

1.Increased investment in the metaverse With the increasing popularity of virtual experiences, it is likely that there will be more investment in metaverse technologies and platforms.

2.Growth of the metaverse economy

3.Integration with existing technologies

Growing User Base

And so far in 2022, more than $120 billion has flowed into the metaverse. The latest McKinsey research shows that the metaverse has the potential to generate up to $5 trillion in value by 2030. It’s an opportunity that is too big to ignore. The metaverse means different things to different people: Will the internet companies be funding the mainframe of the metaverse, or will big data companies like Meta be controlling it?

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  • The internet companies will be funding the mainframe of the meta verse because it is believed or considered by many to be the next face of progression for the internet,and I think big companies would like meta to control it because already Facebook, Google,Apple, Amazon etc.... Are already meta which means that other big companies would like meta to control it.