The Reality of the Metaverse
The idea of a virtual universe is not new, yet we are arguably closer to making it a reality than we ever have been. The Metaverse is likely a term you’ve been hearing of recently - but what does it mean and why are people paying attention to it? Today, let’s dive into the world of the virtual and unpack its potential implications.
While the metaverse has yet to exist, there is already excitement from people anticipating its possibilities. The metaverse is a virtual world which makes use of elements such as Augmented Reality, Virtual Reality, virtual currencies and existing elements of social media. With the metaverse, the possibilities are endless. One can participate in activities in the virtual world the same way they would in reality and be able to make friends and purchases in an identical manner. The line between the virtual and physical is likely to blur, with actions in reality, such as buying a product, translating to ownership of a virtual replica. There are many opportunities associated with the metaverse, one of the most significant being the creation of a new digital economy and thousands of new jobs. These are a few reasons why the metaverse is a hot topic.
1. New Means of Interaction
The virtual world is already affecting the way we have traditionally networked and expanded our social circles. The pandemic has been arguably the largest driving factor for our move onto the digital space, with virtual meetings and social catch-ups now moving online. The creation of the Metaverse would translate to an even greater immersion into the digital, one that mirrors the physical experience even more than before. At the moment, most digital activity which resembles that of our reality comes in the form of games and their universes. In these gaming worlds, players get to customise their identities, their appearances, purchase products, residences and make friends. However, the impact of the Metaverse would be far greater - it would be a highly more inclusive, integrated system in which people would almost truly be living in it. It is therefore interesting to monitor such developments and to consider how differently relationships would be forged in the near future. Making friends online has been a concept that has existed since the start of the internet–but the Metaverse may truly take that a step further. If one were to be able to live their ideal lives in their ideal selves in an all-encompassing virtual world, what would that mean for one’s identity and therefore the identity of others? Who are the friends we truly make and how much of the truth will we truly see?
2. Increased Accessibility
The global internet penetration rate stands at around 60% at the moment. As this number goes up, so will the world’s access to many things online including goods, services and jobs. Remote working is already being implemented, and even while measures have eased and offices are allowed to welcome its staff again, there have been people who have expressed their preference for fully remote roles. While remote working still comes with some obstacles to overcome, the Metaverse has the potential to streamline the process of remote working and allow one’s digital presence to increase their access to various economic opportunities around the world. With the Metaverse, people will be able to access a myriad of facilities, be it libraries or schools, completely unlimited by geography. With such potential to increase access, the power of the Metaverse can be harnessed for good to level the playing field in the world and to increase productivity and efficiency.
3. Increased Social Pressure
The pervasiveness of social media has been linked to a growing social problem - that of insecurity and stress stemming from the constant comparisons of our lives to curated, perfect digital renditions of life online. The Metaverse as a world unchartered, is abound with possibilities and also potential sources of social concerns. In a world where anyone can practically be anything and not just look like something, there might be an increased peer-pressure that affects the mental health of all involved. The ability to create a version of ourselves which we truly live and feel that we are may also have implications on our identities and self-esteems. Our social presence is almost always tailored, edited and curated. With The Metaverse, stepping into the role of our ideal selves may create excessive dissatisfaction with our physical selves we still know to be the “real” us.
The Metaverse is an exciting concept which pushes the boundaries of reality as we know it, especially since innovation and technology have come such a long way that it could well be a reality. While the metaverse is still in the works, the human spirit of innovation and hunger for untapped possibilities continue to grow. At BCD, innovation and an openness to new ways of doing things are at the core of what we do. We seize opportunities and are constantly on the look-out to find ways to improve the customer experience. If constant growth is what you’re looking for, feel free to contact us. At BCD, our focus is YOU.
