metaverse | Kozminski Techblog

21 January 2025

The Buzz and the Truth About the Metaverse – Is It Truly Our Future?

Reading Time: 5 minutes

Only a year back, the metaverse was celebrated as the next frontier in digital engagement, with major tech companies pouring billions into it and enterprises eagerly vying for their piece of virtual property. Nevertheless, worldwide curiosity regarding the concept of the “metaverse” has decreased by 90%, and the worth of virtual properties has fallen by 80%—a more significant drop compared to physical properties in the same timeframe. Many of the highly promoted decentralised virtual worlds have faced challenges in keeping users engaged, prompting critics to argue that the metaverse was simply a bubble driven by corporate advertising and overly optimistic expectations.

However, this perspective fails to recognise that we are merely transitioning past the height of the initial excitement phase. A significant number of business leaders and experts express a positive outlook regarding the long-term effects of the metaverse, as evidenced by a survey indicating that 95% of global executives anticipate it will be essential to their industries in the coming five to ten years.

This piece delves into the current landscape of the metaverse, distinguishing between exaggerated claims and actual conditions, while assessing its potential for sustained business significance.

1. The Anticipation: A Virtual Paradise That Has Yet to Materialise

Exaggerated Anticipations & Market Downturn

In the midst of the surge in digital environments, there were significant corporate investments, expectations of virtual property expansions, and forecasts of a completely immersive online economy. However, on this day:• The prices of virtual land have plummeted, leading many initial investors to reconsider their choices.• Certain virtual environments have faced challenges in attracting daily active users, resulting in vacant digital areas. • The public’s fascination with Web3 innovations such as NFTs and cryptocurrency, which were frequently associated with immersive online experiences, has diminished, impacting overall market excitement.

Some critics contend that the metaverse represents a solution in search of a problem, rather than an essential advancement in technology.

The merging of concepts surrounding Web3 and the decline of Blockchain technology.

The metaverse is frequently mistaken for blockchain, NFTs, and Web3; however, despite some overlap, they are inherently distinct concepts. The downturn in cryptocurrency and NFTs has played a significant role in the waning momentum of the metaverse, given that numerous initial projects in this space were closely linked to speculative investments in digital assets. Nonetheless, the idea of the metaverse reaches well beyond just blockchain uses.

2. The Truth: Expansion of the Metaverse in Specific Sectors

Even in the face of challenges, certain metaverse platforms are flourishing, showing that although the excitement has diminished, genuine usage continues to grow.

Gaming and virtual entertainment are at the forefront of innovation.Roblox currently has 58.8 million daily active users, reflecting ongoing user involvement.• Sky: Children of the Light organised a concert that brought together 4,000 attendees at once, showcasing the possibilities of collective digital experiences, attracting a total of 1.6 million viewers.• Fortnite and Minecraft remain incredibly popular, merging gaming, virtual social environments, and engaging experiences.

Enterprise applications are increasingly on the rise.

A growing number of companies are redirecting their attention from the buzz surrounding consumer-oriented metaverse concepts to more pragmatic business uses.• Applications utilising augmented reality are being incorporated into business tools and mobile applications, providing tangible, real-world benefits.• Platforms for virtual collaboration, such as Meta’s Horizon Workrooms and Microsoft’s Mesh, are being examined for purposes like remote work, employee training, and virtual meetings. • Nvidia’s Omniverse is pushing forward applications in the industrial realm, enabling real-world simulations in areas like manufacturing, logistics, and engineering.

These applications illustrate that although the metaverse is not completely developed at this stage, its fundamental technologies are progressing in particular areas.

3. What Lies Ahead? Significant Progress in Technology

As the metaverse transitions from its initial excitement, various significant developments will influence its trajectory:

1. Enhancements in Equipment and Decreased Expenses• The development of AR and VR hardware is progressing, leading to more accessible and comfortable immersive experiences.• The upcoming headsets from Apple and Meta are anticipated to significantly enhance consumer engagement.• Prices are steadily dropping, potentially leading to wider acceptance among the general public.

b. Open Standards for Seamless Integration

A significant obstacle facing the metaverse is the disconnection among numerous virtual worlds. This is gradually evolving:• Universal Scene Description and Graphics Language Transmission Format are increasingly being recognised as standardised formats for 3D content.• Organizations such as Niantic, Blippar, and Nvidia’s Omniverse are working on solutions to facilitate simpler content creation and enhance cross-platform compatibility.

c. The Role of AI and Automation in Producing Content

The incorporation of AI-driven content creation tools will streamline the process of producing virtual assets, environments, and interactive experiences, simplifying the path for metaverse development.

These advancements indicate that although widespread consumer acceptance of the metaverse may still be some time off, the technology is progressing in ways that will enhance its sustainability in the long run.

4. Transitioning from Initial Excitement – Prioritising Business Value

The primary takeaway from the early excitement surrounding the metaverse is that companies ought to shift their focus from “What can we do in the metaverse?” to asking: • “How does the metaverse enhance our business growth and innovation strategy?”• “Is it more beneficial than the current digital platforms?”• “What are the distinct advantages of incorporating the metaverse?”

For example: • Retail brands ought to evaluate the metaverse as a platform for marketing and engaging with consumers, measuring its effectiveness in relation to social media and e-commerce.• Organisations ought to assess their capacity for training, teamwork, and operational enhancements, measuring it against conventional tools such as Zoom and Microsoft Teams.• Companies in the gaming and digital entertainment sectors ought to prioritise user retention, engaging virtual experiences, and genuine value creation, rather than pursuing fleeting trends.

By concentrating on enduring business effects, organisations can distinguish genuine opportunities from mere speculative trials.

5. The Future of the Metaverse: Focused Development Beyond the Hype

The metaverse is not a total failure; instead, it is experiencing an essential period of adjustment. Emerging technologies often experience cycles of excitement and disillusionment, much like what occurred during the dot-com boom, the rise of social media, and the adoption of cloud computing before they became widely accepted.

Anticipating Future Developments:1. A slow integration expected in the coming 5-10 years, especially within gaming, business applications, and industrial simulations.2. Enhanced accessibility and cost-effective AR/VR devices to lower entry barriers.The emergence of a more interconnected and interoperable digital landscape, often referred to as the “open metaverse.”A transition from flashy experiments to enduring business frameworks, propelled by practical applications.

One Last Challenge: Are You Considering the Metaverse in the Right Way?

Here’s a thought-provoking approach to evaluate the genuine worth of a metaverse project:• Attempt to articulate your virtual environment initiative without employing the term “metaverse.”• Should the value proposition continue to hold relevance, it suggests that the initiative probably possesses genuine business value.• When the absence of a word renders the concept insubstantial, it suggests that the idea was probably fuelled more by excitement than by a solid plan.

This change in perspective will be essential in distinguishing genuine innovation from temporary fads.

Concluding Remarks: The Metaverse Is Alive and Adapting

While the initial excitement may have diminished, the metaverse remains very much alive. Instead, it is transitioning into a more pragmatic, business-oriented stage, where organisations need to assess its genuine effects rather than pursuing unattainable hopes.

The main point to remember? The metaverse represents a gradual progression rather than an instantaneous transformation. Companies that adopt a thoughtful, value-driven strategy will be the ones to genuinely reap the rewards of its possibilities in the future.

Generative AI: LLama

https://www.mckinsey.com/~/media/mckinsey/email/rethink/2023/01/2023-02-01d.html

https://www.yahoo.com/news/beyond-hype-metaverse-future-reality-105001297.html?guccounter=1&guce_referrer=aHR0cHM6Ly93d3cuZ29vZ2xlLmNvbS8&guce_referrer_sig=AQAAAEX0eZSPsOKUd3_CFMkme-IvT8ou3xHuyC6iDAgQoj1uGqQnn8UTvgF5KcfBsVpNVx1yjO7FOxi95auah_MarmCFjbe_q0X15K4UcYTfTFspOXUiWGkM9CLOxon-mL8VpM4nuLWLhzRM4Hf_YjlkgRy5yyKPtAOJakdaOOIpDzyZ

https://nomadx.foundation/blog/metaverse-is-it-really-the-future-or-just-a-scam

https://www.db.com/what-next/digital-disruption/Metaverse/intro/index?language_id=1

https://www.spiceworks.com/tech/innovation/articles/is-metaverse-for-real/

Tagged AI, future, meta, metaverse

23 October 2023

2 Comments

Exploring the Metaverse : A Glimpse Into the Future

Reading Time: 3 minutes

Tolgart/Getty images, retrieved from https://www.wired.com/story/what-is-the-metaverse/

Introduction

Imagine stepping into a digital realm that transcends the boundaries of reality, where you can socialize, work, play, and create without limitations. This concept, known as the “Metaverse,” is rapidly gaining traction in the world of technology and is destined to reshape the way we live and interact. In this brief post, rise of the Metaverse, its potential, and the key drivers behind its development will be discussed.

So what the “Metaverse” really is?

According to David Needle’s article published on TechTarget,
“The metaverse is a vision of what many in the computer industry believe is the next iteration of the internet: a single, shared, immersive, persistent, 3D virtual space where humans experience life in ways they could not in the physical world.”

The Technology Behind It

The Metaverse relies on a combination of technologies, most notably VR headsets, AR glasses, 5G, Blockchain and advanced Artificial Intelligence. These technologies are converging to create a seamless and interactive digital space.

Each of those technologies serves its own, unique purpose which in combination give the experience of being a part of this impressive virtual world:

1. VR/AR tools are used by users to actually perceive what’s happening in Metaverse
2. 5G Is used to establish strong flow of connection between the server and users.
3. Blockchain allows the whole system to be as decentralized as possible, giving the users a chance to trade and interract freely online.
4. AI is mostly used for chatbots inside of the Metaverse, giving any user in need of help assistance 24/7

Industry Applications

The potential applications of the Metaverse are limitless. Not bound to just gaming; it has the potential to disrupt multiple industries. For instance:

Gaming: Virtual worlds are already popular, but the Metaverse takes it to a whole new level. Companies like Epic Games are heavily investing in this concept.
Education: Imagine immersive virtual classrooms and collaborative learning environments.
Social Interaction: Social platforms could become fully immersive and three-dimensional, enabling realistic interactions with friends and colleagues.
Business: Virtual meetings, conferences, and even remote workspaces can be recreated in a virtual setting.

Challenges and Concerns

As the Metaverse grows in popularity, there are various challenges and concerns to consider:

Privacy: The Metaverse will collect a vast amount of personal data, raising concerns about privacy and security. In my point of view, considering already existing controversies surrounding Meta’s users data leaks, they have to be extremely cautious not to let any bit of data slip as it most likely will ruin their reputation even more than it already is.
Inclusivity: Not everyone has access to the necessary technology, which could create digital divides.
Content Moderation: With user-generated content, ensuring safety and compliance with laws will be a significant challenge.
Addiction : A made-up world where any person can live and experience once-in-a-lifetime events, (e.g. A hologram concert of passed away musicians) may lead some people to choose this polished imaginary reality instead of the real world.

The Road Ahead

The Metaverse is still in its infancy, but it’s evolving rapidly. Companies like Meta, Epic Games, and others are investing heavily in its development. Expect to see more innovations, new startups, and a growing ecosystem around the Metaverse in the coming years.

Personally, i believe that we haven’t even scratched the surface of what concepts such as Metaverse have to offer. The sole idea of a virtual world, where each and every human may create an avatar to represent themselves however they want and participate in errands and ventures from the comfort of their home, scratches my brain in the best way possible.
The possibilities are endless, both positive and negative.

To get a broad understanding of what may come out of such project, I suggest reading a book called “Ready Player One”

To delve deeper into this fascinating topics surrounding the Metaverse, explore the following sources I used while preparing this post:

https://www.techtarget.com/whatis/feature/The-metaverse-explained-Everything-you-need-to-know

https://www.encora.com/insights/5-technologies-that-are-powering-the-metaverse

https://www.wired.com/story/what-is-the-metaverse/

https://about.fb.com/news/2023/05/economic-potential-of-the-metaverse/

https://www.emerald.com/insight/content/doi/10.1108/JEBDE-09-2022-0036/full/html

As the Metaverse continues to expand and evolve, it promises to revolutionize the way we live, work, and interact in the digital age. Embrace the journey into this exciting new frontier

AI model used :
ChatGPT 3.5

Prompt used :
“I got a task to pass a course, which states that i need to make a post in university’s blog that should reflect on current trends in tech, new technology sharing economy, peer production, e-economy, or more general issues. Can you suggest a topic i can write about and what info to look for during my work?”

Tagged AI, facebook, meta, metaverse

14 October 2023

2 Comments

AI, Blockchain, Games, Software

Living in the Metaverse: A Virtual Revolution

Reading Time: 5 minutes

Introduction to the Metaverse

In a world where technology is rapidly advancing, the metaverse is emerging as the next frontier. The metaverse is a digital universe, a collective virtual shared space, where people from all over the globe can interact, explore, work, and play. It’s an exciting concept that’s gaining attention for its potential to transform the way we live and connect.

The metaverse isn’t a new idea. It has deep roots in science fiction, with authors like Neal Stephenson and Ernest Cline envisioning immersive digital worlds. However, today’s metaverse is no longer just science fiction. It’s evolving from the virtual worlds of the past into a tangible digital reality. From early virtual communities like Second Life to the present-day developments, the concept has come a long way.

How it works

Key technologies are the building blocks of the metaverse. Virtual reality (VR), augmented reality (AR), blockchain, and artificial intelligence (AI) are the pillars that make the metaverse possible. VR and AR provide immersive experiences, while blockchain ensures security and trust, and AI powers intelligent interactions within this digital realm.The metaverse has an array of applications, making it incredibly versatile. It’s not just about gaming; it’s about reimagining how we work, learn, socialize, and entertain ourselves. Imagine attending virtual concerts, exploring historical sites in VR, or conducting business meetings from your own digital office.

Several companies are actively working to shape the metaverse. Meta, formerly known as Facebook, is a frontrunner with its ambitious plans to create a shared metaverse. Roblox, a user-generated gaming platform, has already taken significant strides in the metaverse realm, proving the potential for user-created content.

In the metaverse, your digital identity takes center stage. You can be whoever you want, create avatars that reflect your personality, and express yourself in new ways. However, this digital openness also raises questions about privacy and personal expression.The metaverse is not just about fun; it’s also a place for business. The digital economy within the metaverse is growing, with the rise of non-fungible tokens (NFTs) enabling virtual ownership and trade. It’s a fascinating intersection of the real and digital worlds. The metaverse is changing the way we interact socially. Virtual meetups, immersive events, and even dating are taking place within this digital realm. It’s an exciting new way to connect with people from around the world. The metaverse’s potential extends to education and work. It offers opportunities for remote work, virtual classrooms, and collaborative projects in an engaging digital environment.

Applications

The metaverse, a term coined to describe a vast digital universe where reality and imagination seamlessly coexist, has given rise to a multitude of applications that promise to transform how we interact, work, and entertain ourselves. Education, for one, stands to undergo a profound evolution within the metaverse. Traditional classrooms are making way for immersive virtual environments where students can embark on educational journeys that transcend the limitations of physical geography. They can attend lectures, participate in interactive simulations, and collaborate with peers from across the globe, all within the metaverse’s virtual classrooms. Moreover, the metaverse serves as a stage for creativity and entertainment. It’s the realm where gaming takes on a new dimension, blurring the lines between reality and the virtual world. It’s a space where artists can showcase their work in stunning virtual galleries, and where music lovers can attend virtual concerts, united by a shared passion regardless of their geographical location. Beyond leisure, the metaverse offers innovative solutions for work. Remote teams can meet in digital boardrooms, architects can design complex structures through collaborative virtual platforms, and professionals from diverse fields can access a digital workspace that defies the constraints of a traditional office. As the metaverse continues to expand, the range of its applications is limited only by our imagination, offering a glimpse into a future where the digital realm knows no bounds.

Downsides

The metaverse, an exciting digital frontier, also brings forth a set of challenges and concerns that demand our attention. Digital addiction is a growing concern, as the immersive and always-connected nature of the metaverse may lead to excessive screen time and detachment from the real world. Privacy is another prominent issue. In this interconnected digital realm, personal data security becomes paramount, and safeguarding users’ privacy is essential. The potential for misinformation and digital manipulation, which have already plagued social media, also extends to the metaverse, raising concerns about trust and authenticity within this virtual world. Additionally, the metaverse could introduce a new dimension to socioeconomic disparities, creating a “digital divide” where not everyone has equal access to this emerging space. These challenges underscore the need for responsible development and ethical considerations as we navigate the evolving landscape of the metaverse.

Navigating the legal and regulatory landscape of the metaverse is akin to charting uncharted waters. The metaverse transcends geographical boundaries, making jurisdictional issues complex. Intellectual property rights in this digital realm raise intriguing questions. Who owns the virtual real estate, digital assets, or creative content within the metaverse? Establishing a robust legal framework to address these concerns is imperative. Additionally, protecting users from fraud, scams, and malicious activities calls for a comprehensive regulatory approach. Data privacy, already a critical issue in our digital age, takes on new dimensions within the metaverse. Ensuring the responsible handling of personal data and safeguarding user privacy is central to the regulatory conversation. As this digital universe continues to expand, the legal and regulatory aspects of the metaverse must evolve alongside, providing a secure and equitable environment for all participants.

Ethical considerations in the metaverse are paramount as we venture into this uncharted digital terrain. With immersive experiences and digital personas at the forefront, questions surrounding identity and authenticity arise. The responsible use of avatars and digital identities is a critical ethical concern. The metaverse can also be a breeding ground for cyberbullying and harassment, making it imperative to establish guidelines and policies that ensure a respectful and safe environment for all participants. Moreover, the digital divide is a looming ethical issue, as not everyone may have equal access to the metaverse. Bridging this gap to ensure inclusivity and fairness is a collective responsibility. As we explore this fascinating digital realm, ethical considerations must guide our actions, creating a metaverse that’s not only technologically advanced but also socially responsible and just.

Conclusion

In conclusion, the metaverse is a dynamic and evolving digital realm that promises to transform the way we live, work, and interact. It’s a space of limitless potential and exciting opportunities. As it continues to develop, we encourage you to explore the metaverse, stay informed about its growth, and consider how it might become a part of your digital life. The future is digital, and the metaverse is the next destination.

Made with chat gpt.

Some of the prompts I used: “give me some topics to write a techblog about” , “what can I contain in a blog post about metaverse?” , “write a blog post about the metaverse” , “write the first paragraph of a blog post containing introduction to the metaverse and history and evolution of it ” , “write me a long paragraph of a blog post containing applications of the metaverse” , “write me a blog paragraph containing challenges and concerns about metaverse” , “write me a blog paragraph containing legal and regulatory aspects of the metaverse” , “write me a blog paragraph containing ethical consideration of the metaverse” , “give me some titles for a blog post about a metaverse”

image source : https://www.freepik.com/free-photo/medium-shot-man-wearing-vr-glasses_19265130.htm#query=metaverse&position=0&from_view=keyword&track=sph#position=0&query=metaverse

https://time.com/6197849/metaverse-future-matthew-ball/

https://www.forbes.com/sites/digital-assets/article/the-metaverse-explained/?sh=7ced9a3e48bd

https://hbr.org/2022/07/exploring-the-metaverse

https://www.wired.com/story/what-is-the-metaverse/

https://www.google.com/url?sa=t&rct=j&q=&esrc=s&source=web&cd=&cad=rja&uact=8&ved=2ahUKEwjl3seo9o6CAxWawAIHHYJvB74QFnoECA8QAQ&url=https%3A%2F%2Fwww.nytimes.com%2F2022%2F10%2F07%2Ftechnology%2Fmetaverse-facebook-horizon-worlds.html&usg=AOvVaw0zvFo-7_heYLlactKzduxO&opi=89978449

Tagged metaverse

7 January 2023

2 Comments

Bez kategorii

Sky’s the limit

Reading Time: < 1 minute

On 16 December 2022, there was an amazing event in Metaverse. Notorious B.I.G aka Biggie Smalls- one of the greatest American rappers who was shot in 1997- was performing a concert on Meta’s Horizon World. Actually, it wasn’t him but his avatar created for the show. He seemed very much alive and fans have the possibility to see their favorite rapper one more time at a live event. What came to my mind after this musical entertainment is that it might bring to life many famous artists. It would give their admirers a new amazing way to interact with their favorite performers. I consider it a new way to experience and discover music. But here comes a question, is making money on dead artists ethical? The idea of transmitting music in this way is beautiful, it gives life to artists and makes their creativity immortal. But on the other hand, no one should make a profit out of it. What do you think about it? You can watch how the concert looked like here: https://fb.watch/hs_xLy3K1X/.

Sources:

I just watched Biggie Smalls perform ‘live’ in the metaverse | MIT Technology Review

Tagged metaverse, music

23 November 2022

Leave a comment

AI, Apps, Business

Walmart’s Terrifying Metaverse Experience

Reading Time: 3 minutes

Do you hate going outside? Are you an introvert who prefers to avoid human contact? Do you wish to stay at home but miss the experience of doing groceries? Worry not because Walmart is on it.

Walmart, Inc., was founded in 1962 and focused its early growth in rural areas, avoiding direct competition with retail giants such as Sears and Kmart. Walmart became one of the largest grocers in the United States within a decade of opening the combination of grocery and merchandise Supercenters. Emphasizing customer attention by implementing direct mail advertising, low-cost imports, and focusing on the efficiency of its distribution networks through regional warehousing allowed Walmart to become the largest retailer in the United States in 1990. Walmart’s revenues doubled by 1995 after the owner’s passing, and by 1999 the company had become the largest private employer in the world, as well as the largest corporation in the world.

The company’s development has reached its peak, and now to stay at the top, they are trying to come up with more innovative and shocking customer-gaining solutions. While researching this topic, I have met with a question: “Walmart is joining the metaverse. Are we ready?” – Are we ready for what? Does Walmart’s marketing team think that people do groceries for fun? Is this really where this world is headed? It’s not progress; it’s regress. All this makes me wonder what the Walmart shopper wants to buy in a virtual world anyway?

According to William White, Walmart’s marketing chief, the company will use Roblox as a testing ground as it considers other moves in the metaverse. The experiences, according to him, were created with the next generation of consumers in mind, notably Gen Z, who is widely seen as being between the ages of 25 and under. White stated that the business hopes to gain knowledge from the collaboration.

Currently, Walmart Land and Walmart’s Universe of Play are the two primary game experiences available on the Roblox platform. The store is also experimenting with new methods of customer contact, especially in light of how the pandemic has altered consumer purchasing patterns and increased their use of social media, apps, and gaming websites. Walmart is attempting to bridge the gap between the online and offline worlds. A music festival featuring Madison Beer, Kane Brown, and Yungblud will perform during the virtual event “Electric Fest” in October on Walmart Land; a ton of different games and a shop of virtual goods, or “verch,” that mirrors what customers could find in Walmart’s physical stores and on its website are all part of the retail giant’s first excursion into the virtual world. The big-box store has also held live events that were shoppable and streamed on TikTok, Twitter, and YouTube. Additionally, it has launched a service on Pinterest that uses augmented reality to let customers envision how furniture or other decors might appear in their homes.

For the time being, Walmart won’t profit from its immersive experiences. Instead, players may use tokens and other prizes from Roblox to purchase virtual goods. National brands, such as Skullcandy headphones and the toy company L.O.L. Surprise!, were integrated into the experiences based on demand from the younger gaming demographic of Roblox. However, White suggested that in the future, Walmart may profit from it by charging a brand for inclusion or by attempting to convert users’ virtual experiences into in-person or online shop visits.

Walmart Land has a virtual changing room featuring clothing from its exclusive fashion lines, such as Free Assembly, as well as an obstacle course made up of gigantic goods from the retailer’s Gen Z-focused cosmetic brands, such as Bubble skin care products and Uoma by Sharon C makeup.

During the Covid epidemic, Roblox attracted a lot of new users and made its stock market debut. The gaming platform reportedly saw an increase in daily active players from 32.6 million in 2020 to over 52 million. Although the firm claims it is drawing users of all ages, traditionally, it has attracted more young children and teenagers. Although Roblox has a market cap of roughly $21.2 billion, its shares have fallen by about 66% so far this year.

We constantly risk becoming lost in the future race, especially when the newest technological revolution is powering it. We can get caught up in designing these next-generation products and experiences, as we have all seen before, only to find that no one actually wants them. It appears that no one wants to be left behind – but are we really clear about where we are going with the metaverse?

Sources:

https://www.britannica.com/topic/Walmart

https://www.forbes.com/sites/phillempert/2022/01/26/walmart-is-joining-the-metaverse-are-we-ready/

https://www.cnbc.com/2022/09/26/walmart-enters-the-metaverse-with-roblox.html

Tagged metaverse, vr, Walmart

30 October 2022

Leave a comment

Business

Is Mark Zuckerberg’s grand vision going to be the biggest flop in tech history?

Reading Time: 3 minutes

Thomas Edison. Nikola Tesla. The Wright Brothers. Alexander Graham Bell.

What do all these visionaries have in common?

Well, they all changed the course of humanity and our civilization’s technological development.

From inventing the lightbulb (Edison) to the creation of the telephone (Bell), they were undoubtedly figures that played key roles in getting to where we, as humans, have come so far.

But why am I mentioning them?

They were all ridiculed at first.^[1]

In 1903, just nine weeks before the first manned flight, The New York Times stated that it would take at least a million years for humanity to create a functional airplane.^[2] A million years.

And how are they relevant to Mark Zuckerberg?

As you might have read, the Meta (formerly known as Facebook) founder has come into great criticism recently over his vision of the Metaverse. With a 2021 loss of 10 billion dollars^[3] and being over 300 000 users short of Meta’s year-end goal,^[4] the Metaverse has already been branded as a massive flop by major media outlets.

The major feedback points were that:

The users’ avatars were ‘soulless’ and had no legs;
The virtual world felt empty and lonely.

The issue doesn’t seem to be only existent in Meta’s creation, as another metaverse, Decentraland (valued at over 1.1 billion USD^[5]), reportedly had only 38 daily active users.^[6]

Mark Zuckerberg showcasing his Metaverse avatar
Source: https://qz.com/2081426/facebooks-meta-company-wants-control-of-the-metaverse

The metaverse was supposed to serve as an “alternate reality” to our real world, with limitless possibilities. In fact, the idea seemed quite appealing, as you could travel to any place in the virtual world instantly. Of course, there are also dystopian visions of a Matrix-like scenario, where, in the distant future, a person would be constantly hooked up to a headset and haptic pads that would produce a fully immersive experience, essentially replacing actual reality.

But what is actually going on in the Metaverse?

For now, the main purpose of this virtual world seems to be entertainment, with virtual concerts making headlines.^[7] Other such virtual experiences include art exhibitions, movie showings and gambling.

As crazy as it may seem, there are going to be Subway franchises in the Metaverse – the company has filed for a trademark earlier this year.^[8] So, worry not, you’ll be able to order a sandwich that you cannot actually eat soon enough.

While some of the ideas (such as virtual food and drinks) are ridiculous, if implemented properly, a virtual world could serve well for business and educational ventures. It could replace Zoom for virtual conferences and add at least a touch of reality to remote calls and work.

Zuckerberg seems confident enough in his strives to popularize the Metaverse and there is no sign of him backing down anytime soon. For one, as he recently stated on his Joe Rogan Experience appearance, he wants VR to ‘eat TV’, so that people could spend time socializing inside of his creation instead of sitting in front of a TV.^[9]

Mark Zuckerberg
Source: https://www.vanityfair.com/style/2020/12/mark-zuckerberg-surfing-again-electric-board-sunscreen

So where is this alternate reality headed? It is hard to say for sure, but it doesn’t seem to be replacing actual life anytime soon. There is major money to be made in the technology, and perhaps we could see a Metaverse boom after we come out of the upcoming recession.

In the distant future, we might hold business meetings virtually by default. It is not impossible that we are headed into a Matrix-like world. Or maybe, in 50 years’ time, we might remember the Metaverse as the biggest flop in tech history.

If the Meta founder fulfills his ambitions, perhaps a future Kozminski student will start his October 2053 tech blog entry with the words:

Thomas Edison. Nikola Tesla. The Wright Brothers. Alexander Graham Bell. Mark Zuckerberg.

Where do you think is the Metaverse headed? Would you prefer to hold your classes and business meetings in such a virtual world, or do you think that the venture is going to fail miserably? Feel free to reply in the comments.

Until next time,
Jan

^[1] https://scienceinfo.net/7-famous-inventions-were-initially-badly-criticized.html

^[2] https://bigthink.com/pessimists-archive/air-space-flight-impossible/

^[3] https://stealthoptional.com/news/facebooks-metaverse-lost-10-billion/

^[4] https://www.dailymail.co.uk/news/article-11319449/Mark-Zuckerbergs-Metaverse-FLOP-users-complain-lonely.html

^[5] https://coinmarketcap.com/currencies/decentraland/

^[6] https://insidebitcoins.com/news/is-it-that-lonely-in-the-metaverse-platforms-speak-out-about-daily-active-users

^[7] https://www.forbes.com/sites/bernardmarr/2022/07/27/the-world-of-metaverse-entertainment-concerts-theme-parks-and-movies/?sh=53f366136531

^[8] https://www.todaynftnews.com/subway-files-2-trademark-applications-to-enter-the-metaverse/

^[9] https://open.spotify.com/episode/51gxrAActH18RGhKNza598?si=TSH3vCOcQP6NOddq3a_XIg

Tagged mark-zuckerberg, metaverse, technology

26 October 2022

Leave a comment

Bez kategorii

VR technology

Reading Time: 2 minutes

The virtual reality concept was created in the mid-1950s with a device called sensorama. Since then VR became one of the technologies with the highest potential growth. Most forecasts believe that the Metaverse by the end of the decade will be worth between 6-13 trillion dollars. No wonder tech giants are following this trend. The most interesting usage of this technology is in the Metaverse.

What the Metaverse is?

It is a concept developed by Neal Stephenson in his novel “Snow Crash” 1992. Matthew Ball defines it as “A massively-scaled and interoperable network of real-time-rendered 3D virtual worlds that can be experienced synchronously and persistently by an unlimited number of users with an individual sense of presence while supporting the continuity of data.” But what does it mean? It is a virtual world with the ability to link independently-operated simulations and give us cyberspace where everyone is coexisting.

How do we use VR/AR technology nowadays?

The biggest part of the market uses this technology for entertainment purposes- mostly video games, but this technology has much more to offer. Surgeons are trained using simulations of complex operations and this method is more efficient than traditional one- scientists from Harvard University have done the research and the result of it showed that surgeons trained in VR technology had a 230% growth in efficiency. U.S and British militaries are using Unreal Engine for simulation training of active combat. Even cities are being designed with graphics-based computing. This technology is opening a huge amount of opportunities and I am curious about what it will look like in the next ten years.

What do you think about this piece of technology?

Sources:

Top 5 Virtual Reality Trends of 2022: The Future of VR – Program-Ace

2. VR w medycynie. Nadchodzi rewolucja? (chip.pl)

3.Virtual Reality, the technology of the future – Iberdrola

Tagged metaverse, technology, Virtual Reality

11 October 2022

Leave a comment

Bez kategorii

Will Zuckerberg’s metaverse succeed or it’s going to be a huge flop?

Reading Time: < 1 minute

The idea of creating metaverse, by Zuckerberg’s company, was officially announced almost a year ago. From that moment thousands of people have been working in that project and billions of dollars have been spent. It is a huge futuristic enterprise that has a lot of potential.

However, not everything is going as planned. With around 20,000 thousands of engineers working on that project Meta has spent hundreds thousands of dollars but until now the outcome of the enterprise wasn’t as positively received as Zuckerberg had planned. The current appearance of the project and decreasing number of Facebook’s users don’t speak well about Mark’s idea.

Nevertheless, Mark and his board haven’t stopped believing. Just a few days ago Financial Times published an article in which it is said that Zuckerberg and his team had used more than one hundred high-resolutions cameras to create a brand-new avatar of Meta’s CEO. I guess they did it due to massive criticism from the public to prove them wrong. However, I cannot imagine the dissemination of this idea on a larger scale. Simply the project still needs improvements.

How about you? Do you think that Mark Zuckerberg and his company have any chance of succeeding? Or it’s gonna be a huge flop which will made Meta to back out of that futuristic idea?

Source: https://www.ft.com/content/dc1f4240-dffa-4e28-ae4a-d31398d9bd7a

Tagged meta, metaverse

5 April 2022

2 Comments

Bez kategorii

Metaverse fashion week- a potential future of fashion shows?

Reading Time: 2 minutes

Metaverse has and will in the future influence many aspects of our lives. Focusing on fashion retail and fashion shows we are beginning to witness it.

We have recently become familiar with the term metaverse – now what does it mean?

The term metaverse refers to an interactive, simulated, and virtual space. Hypothetically speaking any open-world game in which users can interact with each other and are free from themselves physically is considered a metaverse. Examples include Sandbox, Second life, AXE infinity, Decentraland, and many more.

Coming back to the fashion aspect and especially talking about the Metaverse Fashion Week that premiered on 24th to 27th March this year showcased phenomenal remakes of iconic dresses and pieces of famous brands. Hosted by Decentraland, this four-day blockchain-based experience enlisted popular brands such as Hugo, Dolce & Gabbana, and Estée Lauder.

The event was hyped but the reactions were mixed but mostly positive, participants commented about glitches such as server overload issues with black screens of code and basic graphics and even compared them to previous digital fashion shows such as Gucci Roblox Garden in 2021. Specialists in the field of digital fashion such as Kerry Murphy who created the first NFT dress ever sold said that “The future looks like the past,” and while the user experience is “from the ’90s”, development is speeding up and will be better next year. Giovanna Graziosi Casimiro, the head of MVFW also commented that as browsers become more powerful the quality will improve and meet the expectations of the fashion community.

Max Vedel, co-founder and creative director at Swipe Back, a metaverse creative agency that has worked with Gucci, Nike, and Swarovski commented that MVFW is a start in digital fashion and has a lot of places for improvement. He also commented that “You don’t just want to recreate real life in the metaverse; you want to be pushing boundaries and going crazy with your designs, show spectacles, and the experience,”. An example of this includes cats walking instead of models on Dolce & Gabbana catwalk.

Scenes from the Decentraland’s MVfW (Photo Credit: WWD)

For me, the cherry on the top of this event was the in-avatar performance by Grimes. She was dressed in a ‘mystique’ inspired dress by AUROBOROS which is a fashion house with futuristic otherworldly designed dresses.

References:

Tagged fashion, metaverse, Virtual Reality

Kozminski Techblog

A blog on technology, run by Kozminski University students and supervised by NeRDS

Tag Archives: metaverse

The Buzz and the Truth About the Metaverse – Is It Truly Our Future?

Exploring the Metaverse : A Glimpse Into the Future

Introduction

The Technology Behind It

Industry Applications

Challenges and Concerns

The Road Ahead

Living in the Metaverse: A Virtual Revolution

Sky’s the limit

Walmart’s Terrifying Metaverse Experience

Is Mark Zuckerberg’s grand vision going to be the biggest flop in tech history?

VR technology

Will Zuckerberg’s metaverse succeed or it’s going to be a huge flop?

Metaverse fashion week- a potential future of fashion shows?