Metaverse Observations and Beliefs
This article contains a listing of some metaverse observations and beliefs.
There do not appear to be any similar lists to compare this to, so your feedback on this list (and what is missing) is appreciated. I know that many of you can be tough critics, but constructive criticism is welcome. On the other hand, if this list strikes you as boring and unchallenging, that’s welcome news for me.
VR hardware and software is evolving rapidly.
- Hardware and software solutions are not stable
- Large investments can quickly become irrelevant
- Poor solutions are quickly replaced by better ones
- Continued investment is needed to stay current
There are limited rules for deciding what a metaverse is or how it should behave.
- Many definitions exist
- Fundamental definition is the ability to experience and perform actions with others in shared virtual spaces
- Guided by previous attempts at metaverse implementation
- Guided by current metaverse implementations
- Guided by existing virtual worlds
- Guided by science fiction
It is difficult to create a metaverse.
- Barrier to entry is high
- Expectations are high
- Investment period is long
- Significant investment required in money, people, and resources
- VR ecosystem is rapidly evolving, adding to risk
- Return on investment is unproven and uncertain
Competition already exists. There will more than one metaverse.
- Stranded content
- Fragmented userbase
- Increased innovation
- Increases risk for metaverse providers, developers, investors
- Increased choice for users, developers, advertisers, investors
There will be many different possible sources of revenue for a metaverse provider to choose from.
- Transactional advertising (“click here for our store”)
- Brand advertising (long-term exposure to brand “Nike!” “Nike!” “Nike!”)
- Connection or usage fees by users
- Connection or usage fees by commercial developers
- Premium content (models, features, events)
- Premium services
- Special placement of content/locations/events
- Rent, building or land ownership, and development
- In-world currency and in-world transactions
- Cloud storage services
- Cloud hosting services
- Consulting services
- For most companies, the metaverse will be used as an opportunity to extend their existing business models.
- In the short term, major metaverse platforms which intend to use surveillance or data mining of their clients are less likely to fully disclose that information for fear of backlash and reduced adoption rates.
- In the long term, major companies which are currently engaging surveillance and data mining of their clients are expected to continue that practice on a metaverse platform.
- A metaverse does not need to limit itself to real-world constraints just for the sake of closely simulating reality.
- The more complex and integrated a platform is, the slower that innovation becomes.
- Users and developers are dependent on platform providers for technological innovation.
- While competition can result in waste, it still remains a net positive for metaverse development. A competitive market is good.
- The choices made in the initial design of a metaverse are critical to its character and its success.
- A general-purpose metaverse cannot succeed inside of a self-contained bubble. It must interface with the real world to be successful. (Novelty will bring the users in, but utility will keep them.)
- A metaverse could be embodied in different forms which have yet to be demonstrated.
- A metaverse is most likely to be created and maintained by a small team effort, web-based company, or gaming company (rather than the telco or an organzied non-profit model as given in science fiction).
- Augmented reality
- Data Collection
- Intellectual Property
- Science Fiction
- Second Life
- Virtual home