The 'metaverse' is a perfect distraction for embattled Facebook & Epic Games

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arthurba

Let me play devils advocate then: for the MetaVerse


I remember when I got my first domain name in the 90’s and trying to tell friends how the internet would be key to communicating and shopping in the future. They looked at me much the same way we look at proponents of the metaverse today. 


I do think it’s a key technology. 


At the moment you have physical shops/events that exist in a place and time and online shops/communities which exist outside of space (but still exist in time). 


The metaverse will give a physical place to an online shop/community.  


So imagine I am wearing Apple glasses (the ones that look like spectacles but can overlay graphics and the virtual world) and I’m signed in to Facebook then when I get to a park or other open space I will ‘see’ groups of friends and some ‘food truck’ like shops there and some billboards. 


In theory - people signed in to different apps will see different things in the same spot - hence why some companies want to be first (Facebook).  (They are relying on the economic principle of scarcity to create value.)


It’s a bit like Pokémon go but for commerce and community. 


The ‘pure’ metaverse where there is no physical dimension will remain the purview of gamers and since there is no scarcity (like geography) then the value of being first is limited to the value of patents and eyeballs. 


In the same way as the internet today is not revolutionary (I could communicate and buy stuff in the 80’s without it) but it has value and has become ubiquitous; the metaverse won’t be revolutionary but it will also bring value and become ubiquitous. 


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