Metaverse. A term you must have heard a lot recently. This all began when Facebook launched its idea of a virtual reality space where users can create avatars and experience a virtual world with their friends and family, and do similar things they do in the present real world.
While this idea is far-fetched right now, and may take a good decade before it actually comes to life, other companies saw its potential too. Hence, after Facebook, Microsoft jumped on the bandwagon as well and announced their Metaverse universe but more on the corporate end.
However, while many companies believe that this Metaverse has a lot of potential to capture the interest of many, in return generating trillions of dollars. There is one specific group which is questioning its authenticity and safety.
Brian Nowak and his colleagues at Morgan Stanley have questioned that will Metaverse live up to the hype that has been created about it.
There troubles aren’t wrong though. For the longest times, companies create products or form applications which are hyped beyond words. However, once they are released, they do not serve as efficiently as they were talked about. Hence, offering a few good reasons for people to hope on the new virtual space may not be enough and Metaverse would really need to outlive the expectations people have from it and be a lot better in terms of usage ad functionality compared to the currently existing internet.
Apart from this, the questions of the privacy were also raised.
Privacy seems to be a big factor in the currently existing social media world, but the statistics show that only a few people actually care about it. With so many people using internet, giving their data without caring where it goes stands as proof that if Metaverse asks for more detailed information, the users will not be hesitant to give it.
According to Mark Zuckerberg he at least expects about 1 billion people to immediately hop on Metaverse, so the company generating hefty sums from a virtual space is for sure.
However, while technology is advancing and the idea of Metaverse seems really cool, Facebook, Microsoft and other companies who are planning on working towards such technology should really keep the above two factors in check. User privacy should always be the main focus. When someone is trusting your app enough to use it, it falls on the company to protect their data and not exploit it.
However, it’s still a good few years till we see this technology making its way, so let’s see what factors the companies do work on and what other introductory it makes in the meanwhile.
Photo: AP images
H/T: Insider.
Read next: Facebook Published A Report Detailing How Much Technology Needs To Be Incorporated Into Online Retail For The Best User Experience
While this idea is far-fetched right now, and may take a good decade before it actually comes to life, other companies saw its potential too. Hence, after Facebook, Microsoft jumped on the bandwagon as well and announced their Metaverse universe but more on the corporate end.
However, while many companies believe that this Metaverse has a lot of potential to capture the interest of many, in return generating trillions of dollars. There is one specific group which is questioning its authenticity and safety.
Brian Nowak and his colleagues at Morgan Stanley have questioned that will Metaverse live up to the hype that has been created about it.
There troubles aren’t wrong though. For the longest times, companies create products or form applications which are hyped beyond words. However, once they are released, they do not serve as efficiently as they were talked about. Hence, offering a few good reasons for people to hope on the new virtual space may not be enough and Metaverse would really need to outlive the expectations people have from it and be a lot better in terms of usage ad functionality compared to the currently existing internet.
Apart from this, the questions of the privacy were also raised.
Privacy seems to be a big factor in the currently existing social media world, but the statistics show that only a few people actually care about it. With so many people using internet, giving their data without caring where it goes stands as proof that if Metaverse asks for more detailed information, the users will not be hesitant to give it.
According to Mark Zuckerberg he at least expects about 1 billion people to immediately hop on Metaverse, so the company generating hefty sums from a virtual space is for sure.
However, while technology is advancing and the idea of Metaverse seems really cool, Facebook, Microsoft and other companies who are planning on working towards such technology should really keep the above two factors in check. User privacy should always be the main focus. When someone is trusting your app enough to use it, it falls on the company to protect their data and not exploit it.
However, it’s still a good few years till we see this technology making its way, so let’s see what factors the companies do work on and what other introductory it makes in the meanwhile.
H/T: Insider.
Read next: Facebook Published A Report Detailing How Much Technology Needs To Be Incorporated Into Online Retail For The Best User Experience