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What's Happening with the Metaverse?

Jun 30, 2022
What's Happening with the Metaverse?

The Metaverse. We’ve heard so much about it, yet its real impact on the future remains unclear.

We all remember when Facebook rebranded as ‘Meta’ in October 2021, signalling its intent to build this new world.

Almost a year on, for Social Media Day, we want to explore the ever-evolving landscape of social media and the wider digital atmosphere.

First, let’s recap. What exactly is the metaverse?

The metaverse is simply a virtual environment, made up of different spaces and apps. Deloitte described it as ‘A form of digital interaction where connected, virtual experiences can either simulate the real world or imagine worlds beyond it.’

These experiences will be built by a host of different companies, says the Product Marketing Director of VR at Meta, Meaghan Fitzgerald, (according to the Wall Street Journal on YouTube), and the race to capitalise on the metaverse’s potential is underway. 

As Forbes put it, ‘If there’s one thing CIOs love, it’s to be on the ground floor of the next big thing,’ and Bloomberg expects the metaverse to be worth $80 billion by 2024.

There’s also an element of the creator economy to all this. Meta states on its website that ‘the metaverse will be built by everyone, with creative ideas and practical applications being developed every day by all sorts of imaginative people.’

Users can build their own digital surroundings through Meta’s ‘Horizon Worlds’ application, jump in, and invite friends to join them, no matter where they might be in the real world.

In the metaverse, you appear and interact as an avatar, complete with movements and your real voice. Meta is even reportedly working on a glove that would allow us to reach out and feel things that only exist in the virtual.

That’s the concept, but there’s some debate whether the metaverse is in fact ‘here yet’.

Mark Zuckerberg expressed at the Connect 2021 conference that “We have years before the metaverse is fully realized” but it will become “mainstream in the next five to ten years,” as reported by TechRepublic.

Is it social media or a video game on steroids?

Many have compared the metaverse to open-world computer games, which are nothing new. In a way, you could describe it like that, but in time the metaverse is expected to outgrow this definition. 

Imagine if everyone in the world could occupy one virtual environment and live there. That would mean whole economies supporting an expansive environment, complete with its own society (or at least a different version of ours).

Equipped with the existing hardware, you can already engage in games, avatar work meetings, and go to virtual venues such as comedy clubs and NFT art galleries. You’ll even have your own ‘home space’ within Horizon Home, created by Meta.

Essentially, if the internet is something we look at, the metaverse is something you can live in.

Bringing your identity, interactions and elements of your real life to the metaverse make it much more like social media than a video game. Unlike static profiles, though, this is on a completely immersive level.

After two years of lockdowns, with disconnection from others and the physical outdoors, many think we may reject this new frontier. However, COVID also made us more accustomed to virtual interactions, especially the convenience of connecting from anywhere, globally.

As with most technological marvels that quickly become the norm, we may see a snowball effect.

How will the metaverse affect the workplace?

In essence, it might become the workplace. The metaverse proposes to be a truly functional part of our lives, instead of simply a source of entertainment, through virtual workspaces.

You’ll get all the convenience of working from home in the physical sense, but as well as the tools and programs you need, you’ll also get the feeling of an office environment.

You might be at your dining table or on your sofa, but your avatar can be in a virtual room with co-worker avatars to chat with, just like the real office.

All this, without having to change out of your pyjamas… though we’re uncertain if that’s such a good thing.

Alongside virtual reality, there’s mixed or augmented reality, in which your real environment blends with virtual additions. This can include a digital ‘dashboard’ providing access to everything at once, against the background of your actual desk.

The tech required to enable this is still in the works. At Connect 2021, Meta teased Project Nazare, which is developing the first “fully-fledged augmented reality glasses.” As stated by RoadtoVR, this will no longer become available to customers, but its successor, codenamed Artemis, eventually should.

What will this mean for well-being?

Could all this make us more productive? Probably.

Will it be good for us, though? The jury is out.

First, is having your entire office literally strapped to your face in the form of a headset really the best idea for work-life balance?

There are also health concerns associated with using headsets for long periods, with users already reporting ‘headaches, eye strain, dizziness and nausea’ according to Science Focus.

Going a bit deeper, virtual working changes the game of workplace authenticity. 

Sure, it’s convenient not to get dressed up for video meetings, but if your avatar can look however you want it to, are you bringing your real self to work?

Meta also stated at the conference that they are working on a way for users to enter the meta workspace using a separate account from their personal Facebook one. This would mean that the virtual professional doesn’t have to be associated with our other experiences in the metaverse.

On the face of it, this seems prudent in aid of privacy, but also brings an unsettling new meaning to having distinct professional and personal ‘personas’.

Overall, what we’ll be taking note of for Social Media day, is this:

The digital world continues to evolve, and with it, our interactions as people are transformed. 

As long as we are focused on connecting, collaborating and innovating, it’s all well and good. We have to remain mindful that new environments must be inclusive, fair, and safe for our physical and mental health, just as we do with our real environments.

Get talking in the comments. Would you embrace virtual workspaces in your business?

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