{"id":44828,"date":"2022-07-13T06:21:41","date_gmt":"2022-07-13T10:21:41","guid":{"rendered":"https:\/\/www.kaspersky.com\/blog\/?post_type=emagazine&#038;p=44828"},"modified":"2022-07-26T09:51:49","modified_gmt":"2022-07-26T13:51:49","slug":"should-business-use-metaverse","status":"publish","type":"emagazine","link":"https:\/\/www.kaspersky.com\/blog\/secure-futures-magazine\/should-business-use-metaverse\/44828\/","title":{"rendered":"The Metaverse&#8217;s history shows we&#8217;re not quite ready for it"},"content":{"rendered":"<p>In October 2021, Facebook Founder and CEO Mark Zuckerberg <a href=\"https:\/\/uploadvr.com\/meta-metaverse-bosworth-zuckerberg\/\" target=\"_blank\" rel=\"noopener nofollow\">changed his company\u2019s brand name to Meta<\/a> to reflect what he sees as the importance of the metaverse to their business strategy.<\/p>\n<p>Experienced using a virtual reality (VR) headset, the three-dimensional virtual environment lets characters (called avatars) engage in social and commercial activities much like real life. Many <a href=\"https:\/\/www.nytimes.com\/2021\/12\/30\/technology\/metaverse-virtual-reality-big-tech.html\" target=\"_blank\" rel=\"noopener nofollow\">global business giants see the Metaverse as a huge commercial opportunity<\/a> that will change how we live and work.<\/p>\n<p>Should your business get involved? I believe the Metaverse\u2019s history shows while it\u2019s an environment you should get familiar with, it may not be the time to invest big. Here\u2019s why.<\/p>\n\t\t\t\t\t<div class=\"c-promo-post\">\n\t\t\t\t\t\t\t<p class=\"c-headline c-headline--primary\">Related articles<\/p>\n\t\t\t\t\t\t<div class=\"o-row\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<div class=\"o-col-6@sm\">\n\t\t\t\t\t\t\t<article class=\"c-card c-card--link c-card--hor@xs c-card--small@xs  c-card- extra--small@sm\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<div class=\"c-card__figure c-card__figure--small@xs\">\n\t\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/www.kaspersky.com\/blog\/secure-futures-magazine\/how-to-spot-hype\/36171\/\" class=\"c-card__figure-link\">\n\t\t\t\t\t\t\t\t\t\t\t<img decoding=\"async\" width=\"500\" height=\"500\" src=\"https:\/\/media.kasperskydaily.com\/wp-content\/uploads\/sites\/92\/2020\/07\/02050837\/158-how-to-spot-hype-header-500x500.jpg\" class=\"attachment-card-default size-card-default wp-post-image\" alt=\"how to spot hype\" data-src=\"https:\/\/media.kasperskydaily.com\/wp-content\/uploads\/sites\/92\/2020\/07\/02050837\/158-how-to-spot-hype-header-500x500.jpg\" data-srcset=\"\" srcset=\"\">\t\t\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<div class=\"c-card__body  \">\n\t\t\t\t\t\t\t\t\t<header class=\"c-card__header\">\n\t\t\t\t\t\t\t\t\t\t<h3 class=\"c-card__title \">\n\t\t\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/www.kaspersky.com\/blog\/secure-futures-magazine\/how-to-spot-hype\/36171\/\" class=\"c-card__link\" target=\"_blank\" rel=\"noopener nofollow\">\n\t\t\t\t\t\t\t\t\t\t\t\t<span>Many hats make light work: How to see the truth hidden by tech hype<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t<svg class=\"o-icon o-svg-icon o-svg-right\"><use xmlns:xlink=\"http:\/\/www.w3.org\/1999\/xlink\" xlink:href=\"https:\/\/www.kaspersky.com\/blog\/wp-content\/plugins\/kaspersky-emagazine\/assets\/sprite\/icons.svg#icon-arrow-long\"><\/use><\/svg>\t\t\t\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t\t<\/h3>\n\t\t\t\t\t\t\t\t\t<\/header>\n\t\t\t\t\t\t\t\t\t<footer class=\"c-card__footer\">\n\t\t\t\t\t\t\t\t\t\t<div class=\"c-card__list\">\n\t\t\t\t\t\t\t\t\t\t\t<ul class=\"c-list-labels js-has-reading-time\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<li>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<a class=\"c-list-labels__link\" href=\"https:\/\/www.kaspersky.com\/blog\/secure-futures-magazine\/category\/emerging-tech\/\" target=\"_blank\" rel=\"noopener nofollow\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span>Emerging tech<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<li><span class=\"js-reading-time\"><\/span> min read<\/li>\n\t\t\t\t\t\t\t\t\t\t\t\t<div class=\"u-hidden js-reading-content\">\n\t\t\t\t\t\t\t\t\t\t\t\t\tHype is increasingly playing a big part in the worst decisions around technology. Investors and journalists alike fell for Elizabeth Holmes' shiny pitch for her non-existent blood testing technology Theranos. Fitness tracker Jawbone, once valued at 3 billion US dollars, was among several wearable tech firms to go spectacularly belly-up as it became clear the market wasn't as expected.\r\n\r\n\r\n\r\nSeeing past puffed-up narratives and getting to the core of claims means making more informed decisions around technology, investing in the most promising next steps and building a business strategy with concrete foundations.\r\n\r\nYou needn't necessarily wade through the mountains of information we're faced with every day to spot hype.\r\n\r\nAs a science and tech journalist and advisor for Innovate UK and the European Commission on start-up funding, my job is to work out what's hype and what's not.\r\n\r\nHere are six ways to hone your critical thinking and better understand the complexity, adapted from my recent book, Smoke and mirrors: How hype obscures the future and how to see past it.\r\n1. Understand what hype is for\r\nMost people think hype is a bad thing, and it can be a problem in that it sends us along the wrong path. But there's more to it.\r\n\r\nIf 'consensual' fooling is what magicians do (you go to a magic show to be fooled,) 'non-consensual' fooling is lying. Hype could be considered 'accidental fooling' \u2013 the messages are not intended to misinform, but the person receiving them can easily get the wrong end of the stick.\r\n\r\nHype is powerful. People use it because they're keen to get out what they think are important messages. They want to grab your attention. For example, government health guidelines intend to inform society. They might use hype to ensure people receive the message loud and clear.\r\n\r\nWhen you remember what hype is for, you may see a message differently. Ask yourself why the communicator might use hype. Are they trying to sell something, convince you to change your behavior or to expose a problem? Think about why and how the message got in front of you when interpreting it.\r\n2. Find the nuance\r\nMany headlines and start-up pitches include absolute statements, like \"AI will revolutionize health\" or \"robots will replace farmers.\" Statements like these are shortcuts to establish a jumping-off point. They're not necessarily false and normally contain a trace of truth, but they miss out a lot in their simplicity.\r\n\r\nTo find the nuance, say to yourself, \"Well, it depends.\" You're not denying another's expertise but getting yourself into a questioning state. When you start from a place of \"Well, it depends,\" your mind can better explore scenarios that test the statement. For example, \"It depends what kind of job I have as to whether a robot will replace me.\" Just three words can open your mind to nuance in absolute statements.\r\n3. Look for your fanaticism\r\nIf you work in tech, you're probably a techno-optimist: Someone who believes technology is a force for good. We wouldn't have much innovation without this excitement and optimism, but we need to be conscious of where our excitement turns into fanaticism.\r\n\r\nEmotional desire can blind us to the reality of societal impact. We can build and promote things that may be harmful to those unlike us. It's more than putting ourselves into other people's shoes; it's taking a step back and asking, \"Do we need this?\" We know technologies can evolve and lead to related industries, becoming a problem over time. We should ask ourselves these questions in the development process to prevent unintended consequences down the line.\r\n\r\nAnother question to prompt this thinking is, \"If this technology were to grow in mainstream adoption, what would be the dystopian science fiction novel written about it?\"\r\n4. Wear more hats\r\n\r\n\r\nSearching for the right or wrong answer is hard when faced with a complex question like, \"Is AI good or bad?\" There's a lot to consider. You need to 'map' the full system of ideas somehow, know the different scenarios in which the question must be answered and draw a conclusion.\r\n\r\nA simple way to start gathering the nodes is to wear different hats, one by one. Put on your own hat. What does the question mean in your personal life or business? Then put on your supplier or your management team's hats: What does it mean in theirs? Then consider working in a country not your own, in a different industry or being someone working 50 years in the future. This is a way to remove your blinkers and so, see past the hype.\r\n5. Work out what's curbing action\r\nHype can make people think someone else is solving things, so they don't need to do anything. For example, in the food industry, hype around vertical farms and lab-grown meat lets us 'off the hook' of changing their habits. The 'tech will save us' mentality stops us making more considered decisions about what we eat today.\r\n\r\nWe can also work out, beyond the narratives laid in front of us, what fears or cultural tendencies build ideas in peoples' minds they're unwilling to confront. For example, the phrase \"We'll find a cure for cancer\" exudes hope, tenacity and courage. But it also shields fear that we still have far to go, and, of course, fear of death. This fear and, in some cultures, the taboo against talking about death, means it's become anathema to question those working in this field. It feels like doubting those on the front lines. Our trust rarely wavers. It's not necessarily a bad thing \u2013 many efforts in cancer therapeutics are successful \u2013 but when anything is culturally sacred and immune to criticism, much-needed constructive ideas are stifled. Consider the culture and public sentiment around the topic you're investigating.\r\n6. Work out who is responsible right now\r\nHype can sometimes give us narratives that relinquish our responsibility around technology. For example, \"Robots will steal our jobs.\" It's an easily spread and understood idea, with an element of truth, but lacks important detail.\r\n\r\nIf you take away the hyped narrative, realize it's a comment on the future of automation and rephrase it to \"Company executives are going to choose to replace human jobs with robotic machinery,\" another element becomes clear. Instead of talking about Terminator storming in to claim your job or the technological singularity and when it might be achieved, immediate discussions around responsibility, decision-making and societal economics come to the fore. We need to work out who is involved in the technology's development right now and ensure their responsibility isn't hidden beneath simplified, hyped narratives.\r\n\r\nWhile decision-making in business is often the hardest part of the job, spotting hype in technology \u2013 and so preventing yourself and your business from succumbing to it \u2013 needn't be difficult. When you next come across a headline you think may be hyped, following these steps will help you make better decisions.\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t\t<\/ul>\n\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t<\/footer>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t<\/article>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<div class=\"o-col-6@sm\">\n\t\t\t\t\t\t\t<article class=\"c-card c-card--link c-card--hor@xs c-card--small@xs  c-card- extra--small@sm\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<div class=\"c-card__figure c-card__figure--small@xs\">\n\t\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/www.kaspersky.com\/blog\/secure-futures-magazine\/tech-innovation-history\/40226\/\" class=\"c-card__figure-link\">\n\t\t\t\t\t\t\t\t\t\t\t<img decoding=\"async\" width=\"500\" height=\"500\" src=\"https:\/\/media.kasperskydaily.com\/wp-content\/uploads\/sites\/92\/2021\/06\/10070518\/240_fast_forward_article-500x500.jpg\" class=\"attachment-card-default size-card-default wp-post-image\" alt=\"fast forward\" data-src=\"https:\/\/media.kasperskydaily.com\/wp-content\/uploads\/sites\/92\/2021\/06\/10070518\/240_fast_forward_article-500x500.jpg\" data-srcset=\"\" srcset=\"\">\t\t\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<div class=\"c-card__body  \">\n\t\t\t\t\t\t\t\t\t<header class=\"c-card__header\">\n\t\t\t\t\t\t\t\t\t\t<h3 class=\"c-card__title \">\n\t\t\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/www.kaspersky.com\/blog\/secure-futures-magazine\/tech-innovation-history\/40226\/\" class=\"c-card__link\" target=\"_blank\" rel=\"noopener nofollow\">\n\t\t\t\t\t\t\t\t\t\t\t\t<span>To succeed in tech innovation, take these lessons from the past<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t<svg class=\"o-icon o-svg-icon o-svg-right\"><use xmlns:xlink=\"http:\/\/www.w3.org\/1999\/xlink\" xlink:href=\"https:\/\/www.kaspersky.com\/blog\/wp-content\/plugins\/kaspersky-emagazine\/assets\/sprite\/icons.svg#icon-arrow-long\"><\/use><\/svg>\t\t\t\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t\t<\/h3>\n\t\t\t\t\t\t\t\t\t<\/header>\n\t\t\t\t\t\t\t\t\t<footer class=\"c-card__footer\">\n\t\t\t\t\t\t\t\t\t\t<div class=\"c-card__list\">\n\t\t\t\t\t\t\t\t\t\t\t<ul class=\"c-list-labels js-has-reading-time\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<li>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<a class=\"c-list-labels__link\" href=\"https:\/\/www.kaspersky.com\/blog\/secure-futures-magazine\/category\/fast-forward\/\" target=\"_blank\" rel=\"noopener nofollow\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span>Fast Forward<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<li><span class=\"js-reading-time\"><\/span> min read<\/li>\n\t\t\t\t\t\t\t\t\t\t\t\t<div class=\"u-hidden js-reading-content\">\n\t\t\t\t\t\t\t\t\t\t\t\t\tInventor of the audiocassette Lou Ottens' death at age 94 in early 2021 gave the media and technology world a chance to stop and think. In the age of Musks and Zuckerbergs, it's easy to forget how much Ottens changed the game.\r\n\r\nThe home and studio standard of the time, open-reel tape, didn't travel nearly so well. Reels and playback machines were heavy, bulky and easily damaged. Ottens started with the idea of something conveniently carried. He cut a piece of wood to the size of his pocket as a template.\r\n\r\n\r\n\r\n\r\nFrom the pocket to the world\r\nBy the 1980s, we were connecting cassette players to early home computers and telephone answering machines. Before cassettes receded into obsolescence around the late 1990s, the penetration of Lou Ottens' innovation was total.\r\n\r\nBut the audiocassette stayed influential beyond its popularity. Ottens also helped develop the Compact Disc, which stored more data and was more durable. But its use and distribution patterns followed those established by its predecessor, the cassette. Symbols on PlayStation, other game controllers and almost all audio-visual players mimic those introduced with the audiocassette.\r\nPast lessons invaluable for future success\r\nFrantic pace can distract us from learning from the past. The influence of Ottens' audiocassette beyond its seeming obsolescence is a case in point.\r\n\r\nNew audio documentary series Fast Forward, presented by me for Tomorrow Unlocked by Kaspersky, is devoted to examining trends from the recent past shaping today's technology. It distills practical lessons that might otherwise have been lost in our rapid forward momentum.\r\n\r\nClayton M. Christensen and Joseph Bower coined the term 'disruptive' to describe game-changing technologies in their 1995 article, Disruptive technologies: Catching the wave. Although 'disruptive' has since been overused, Bower and Christensen first identified the idea of disruptive technologies by taking the long view of innovation's history.\r\n\r\nOveruse tends to stretch meaning to the point where the original definition is all but lost. Disruptive technologies, often come from outside an existing system of established firms and products, create new markets that eventually displace that system. The concept can be crushed down to Mark Zuckerberg's infamous (former) motto for Facebook: Move fast and break things.\r\n\r\n\r\nLaunching unfinished business\r\nThe current rush to disrupt in tech industries condemns customers and producers to live in a 'beta' universe where bugs become features to be dealt with later. . But as entrepreneur Andy Budd observed in a recent blog post,\" Without a clear picture of what you're building, it's almost impossible to predict problems. We're encouraged to learn about the future not by thinking, imagining or researching outcomes, but by launching products and learning from the results.\"\r\n\r\nThe law of unintended consequences tends to govern the 'beta' universe. Taking the long view can help swing those consequences from negative to positive. It's unlikely Lou Ottens foresaw the deep, long-term impact of the audiocassette while he cut that block of wood to fit in his pocket.\r\nMaking time for failure a success\r\nOttens was only five in 1926 when Thomas Edison died. Edison invented the phonograph, which made mechanical sound recording and playback possible for the first time.\r\n\r\nEdison first tried to market the phonograph by putting it inside a doll that recited nursery rhymes and wished its owner a happy Christmas. The doll was a dismal failure, withdrawn from shelves after most were unsold or returned by disturbed customers.\r\n\r\n\r\n\r\nMaybe his customers didn't want a talking doll, but they did want to hear a famous operatic tenor like Enrico Caruso in their parlors.\r\n\r\n\"I have not failed,\" Edison said about his repeated setbacks while inventing the lightbulb. \"I've just found 10,000 ways that won't work.\" Edison's profound commitment to try and try again shows, in times when 'ever beta' doesn't seem to equal 'ever better,' innovators and entrepreneurs may still find the long view offers the most useful lessons.\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t\t<\/ul>\n\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t<\/footer>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t<\/article>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\n<p>MMOGs have been around since the 1990s. Their popularity has risen fast worldwide with improved internet connectivity, computer power and immersive graphics. One such game, <a href=\"https:\/\/en.wikipedia.org\/wiki\/Eve_Online\" target=\"_blank\" rel=\"noopener nofollow\">space simulator EVE Online<\/a>, has seen over 60,000 players simultaneously playing. And like in the Metaverse, <a href=\"https:\/\/medium.com\/wax-io\/how-on-earth-is-trading-virtual-items-in-video-games-a-50-billion-industry-5972c211d621\" target=\"_blank\" rel=\"noopener nofollow\">trading virtual items for real-world money in MMOGs has become big business<\/a>.<\/p>\n<h2>What\u2019s the Metaverse\u2019s attraction?<\/h2>\n<p>The Metaverse has business potential because of our willingness to invest so much time and money in playing games online.<\/p>\n<p>In a <a href=\"https:\/\/assets.website-files.com\/5e0cb9d41520076bc8738265\/624bdb96f04372595d2249e7_AIB_Webinar_EDM_2022_3-compressed.pdf\" target=\"_blank\" rel=\"noopener nofollow\">2022 virtual conference on the Metaverse<\/a>, Datin Lorela Chia, CEO of Haus of Stylo, Malaysia, gave examples of the fashion and games industry collaborating, like creating and selling virtual garments for avatars.<\/p>\n<p>But it\u2019s not just about buying and selling things \u2013 the Metaverse offers a way to meet, discuss or learn that\u2019s more immersive than other online communication tools. <a href=\"https:\/\/stealthoptional.com\/metaverse\/bill-gates-metaverse\/\" target=\"_blank\" rel=\"noopener nofollow\">Bill Gates said in 2021<\/a>, \u201cWithin two to three years, I predict most virtual meetings will move from 2D camera image grids\u2026 to the Metaverse \u2013 a 3D space with digital avatars.\u201d<\/p>\n<h2>Metaverse follows in Second Life\u2019s footsteps<\/h2>\n<p>In almost every way except the VR headsets, there was a Metaverse from 2003, when Linden Labs launched virtual world <a href=\"https:\/\/en.wikipedia.org\/wiki\/Second_Life\" target=\"_blank\" rel=\"noopener nofollow\">Second Life<\/a>. Second Life is a virtual world that lets users create avatars and settings, and teleport from one place to another in seconds.<\/p>\n<p>Second Life has an estimated 800,000 users and many of the characteristics of a real-world civilization \u2013 rules, citizen rights, homes, shops, universities and events. It has many business applications like hybrid conferences, virtual project meetings and data visualization for education and collaboration.<\/p>\n<p>IBM has used Second Life for internal meetings. BP for graduate recruitment and Imperial College London for virtual hospital tours.<\/p>\n<blockquote><p>With its functionality, maturity and alignment with business, Second Life still leads over the Metaverse. It has already delivered all the business applications envisaged for the Metaverse.<\/p>\n<\/blockquote>\n<p>But with all its functionality and experience, Second Life hasn\u2019t gained mainstream commercial success. So why does Mark Zuckerberg believe his Metaverse has massive disruptive potential?<\/p>\n<h2>What\u2019s enabling today\u2019s Metaverse?<\/h2>\n<p>The answer lies in how the internet evolved since its birth in 1983. The power of 5G and fibre, smartphones and social media have all played a role. Today\u2019s advanced internet technologies make the Metaverse possible, but the devices and applications we use daily will determine whether it has significant commercial potential.<\/p>\n<p>Second Life runs on a desktop computer and connects to a network of Linden Lab servers. It\u2019s a security risk for businesses with network firewalls.<\/p>\n<p>Second Life is also \u2018synchronous:\u2019 users only get value from being online at the same time as other users. So there are no users in most Second Life locations most of the time. To use a real-world retail analogy, there\u2019s a lack of footfall.<\/p>\n<p>This is also true for the Metaverse. Its commercial potential will depend on user numbers and where they spend time. It\u2019s critical there\u2019s on-demand universal access across computers, laptops and mobile devices. Perhaps \u2018Web 3.0\u2019 will be the technology that delivers on making Metaverse experiences securely accessible to a global marketplace across different devices, but especially mobile devices like smartphones.<\/p>\n<h2>What is Web 3.0 and why does it matter?<\/h2>\n<p>IT industry analyst Robin Bloor recently said, \u201c<a href=\"https:\/\/en.wikipedia.org\/wiki\/Web3\" target=\"_blank\" rel=\"noopener nofollow\">Web 3.0<\/a> is the third generation of the internet \u2014 a global network that permits intelligent interactions between all its users and devices.\u201d<\/p>\n<p>Web 3.0 is a theoretical new blockchain-based iteration of the web. It could provide increased data security, scalability and privacy for users. It would let users publish rich media content to a global audience and make a Metaverse more commercially viable than Second Life.<\/p>\n<p>By making the web more powerful, intuitive and secure, Web 3.0 could mean the volume of online users accessing and creating content grows faster. One major difference, most relevant to the Metaverse, is better handling of the 3D graphics needed for virtual worlds.<\/p>\n<h2>Blockchain important to Metaverse commerce<\/h2>\n<p>Metaverse settings are computer-generated environments or 360-degree photos and videos captured by consumer or professional cameras. These digital images and videos are now traded on the internet. Blockchain can validate ownership of these digital assets, enabling the <a href=\"https:\/\/www.fastcompany.com\/90639443\/everyone-from-gucci-to-louis-vuitton-is-betting-big-on-digital-fashion-heres-why-they-should-proceed-with-caution\" target=\"_blank\" rel=\"noopener nofollow\">fashion industry to sell digital garments<\/a>.<\/p>\n<p>In Second Life from 2005, you could create digital assets and trade them for the digital currency Linden dollars. Today, the same thing is happening in the Metaverse using blockchain and cryptocurrencies like Bitcoin. These latest developments, alongside artificial intelligence that connects buyers with sellers, will add to the growth of the Metaverse.<\/p>\n<h2>How will the Metaverse affect business?<\/h2>\n<p>The future shape and commercial potential of the Metaverse go beyond numbers of users. It also depends on how often they visit, for how long, where and why.<\/p>\n<p>With pandemics and climate change restricting face-to-face contact and travel, applications that enable remote communication and collaboration have grown fast. Online meeting app <a href=\"https:\/\/www.businessofapps.com\/data\/zoom-statistics\/\" target=\"_blank\" rel=\"noopener nofollow\">Zoom saw daily meeting participants grow<\/a> from 10 million to 300 million between 2019 and 2020, mostly from small business and personal use.<\/p>\n<p>Will the Metaverse become the new virtual meeting space Bill Gates predicted? It seems unlikely for now, with the convenience and ease of use of Zoom and other online meeting platforms. More likely, the commercial potential of the Metaverse will be unlocked by applications that benefit more from immersive experiences.<\/p>\n<blockquote><p>The Metaverse\u2019s business value is likely to be in virtual tours for marketing and brand development, training simulations that use virtual or augmented reality and large-scale conferences and entertainment events. <\/p>\n<\/blockquote>\n<p>It could also be useful in mental and physical health therapies that use virtual reality and for complex 3D data visualization.<\/p>\n<p>Facebook (Meta) has invested hugely in strategy based on VR headsets as the gateway to their Metaverse platform. Unlike the browsers found on every smartphone and laptop, <a href=\"https:\/\/financesonline.com\/virtual-reality-statistics\" target=\"_blank\" rel=\"noopener nofollow\">few own or have access to a VR headset<\/a>. At the moment, Metaverse suffers from the same problem that restricted Second Life \u2013 a limited marketplace, until the technology evolves to the point where VR headsets or glasses are affordable and ubiquitous.<\/p>\n<p>Unlike recent disruptions like cryptocurrency, the Metaverse relies on mass adoption to be profitable for business. Several factors in the market today make mass Metaverse adoption unlikely, like low VR headset ownership and lack of systems to access the Metaverse with commonly owned devices. While businesses should closely follow the Metaverse\u2019s development, it may be premature to invest heavily at this time. In any case, watch this space.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Events leading up to Facebook\u2019s Metaverse show business should wait for technology to catch up before investing heavily in the space.<\/p>\n","protected":false},"author":2660,"featured_media":44829,"template":"","coauthors":[4149],"class_list":{"0":"post-44828","1":"emagazine","2":"type-emagazine","3":"status-publish","4":"has-post-thumbnail","6":"emagazine-category-digital-transformation","7":"emagazine-category-future-tech","8":"emagazine-category-opinions","9":"emagazine-category-tech-for-business","10":"emagazine-tag-metaverse","11":"emagazine-tag-retail","12":"emagazine-tag-virtual-reality"},"hreflang":[{"hreflang":"x-default","url":"https:\/\/www.kaspersky.com\/blog\/secure-futures-magazine\/tech-innovation-history\/40226\/"}],"acf":[],"_links":{"self":[{"href":"https:\/\/www.kaspersky.com\/blog\/wp-json\/wp\/v2\/emagazine\/44828","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.kaspersky.com\/blog\/wp-json\/wp\/v2\/emagazine"}],"about":[{"href":"https:\/\/www.kaspersky.com\/blog\/wp-json\/wp\/v2\/types\/emagazine"}],"author":[{"embeddable":true,"href":"https:\/\/www.kaspersky.com\/blog\/wp-json\/wp\/v2\/users\/2660"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.kaspersky.com\/blog\/wp-json\/wp\/v2\/media\/44829"}],"wp:attachment":[{"href":"https:\/\/www.kaspersky.com\/blog\/wp-json\/wp\/v2\/media?parent=44828"}],"wp:term":[{"taxonomy":"author","embeddable":true,"href":"https:\/\/www.kaspersky.com\/blog\/wp-json\/wp\/v2\/coauthors?post=44828"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}