Industry News

Is the Metaverse dead?

Imtiyaz Mohamed 16 March 2023

In recent years, the Metaverse has emerged as one of the most promising frontiers for technology and innovation. This virtual world, which is essentially a vast and interconnected network of immersive environments, has captured the imagination of people around the world, promising a future where we can live, work, and play in entirely digital spaces.

While there has been a lot of hype around the Metaverse over the last few years, and some may argue that it has subsided somewhat, this does not necessarily mean that the Metaverse is dead. In fact, many experts and industry leaders believe it is still a viable and exciting concept with significant potential.

No one seems to be talking about it

One reason why some may think that the Metaverse is dead is that there has been less talk about it in the media and popular culture. However, this does not necessarily mean that progress has stalled or that it is no longer a focus of research and development in various industries. Many companies still see the Metaverse as a potentially significant growth area and are investing in developing the infrastructure, tools, and services needed to make it a reality.

The Metaverse is still evolving

Another reason why some may think that the Metaverse is dead is that there is still a lot of confusion about what it is and how it will work. The concept of the Metaverse is still evolving, and there is no one-size-fits-all approach to creating it. As a result, there are many different ideas about what the Metaverse could be and how it could be used.

In fact, it is precisely because the concept is still evolving that there is so much potential for innovation and growth in this area. As technology continues to advance and new use cases for the Metaverse emerge, we are likely to see renewed interest and excitement in this exciting new frontier.

The barrier to entry remains high

As mentioned in my previous metaverse article, another key reason for the slow uptake is the high cost of entry. The hardware and software requirements necessary to access the Metaverse can be prohibitively expensive for many people and organisations. Additionally, there are still issues with the user experience that make it difficult for people to fully immerse themselves in virtual worlds.

However, it is important to note that these challenges are not insurmountable. As technology continues to evolve, we may see advancements that make the Metaverse more accessible and appealing to a wider range of people. It is also worth remembering that new technologies often take time to catch on, and the Metaverse may simply be in a period of slow growth before eventually taking off.

Don’t write the Metaverse off too quickly

While it’s true that the hype may have subsided somewhat in recent years, it is still a concept with significant potential. As technology continues to advance and new use cases for the Metaverse emerge, we are likely to see renewed excitement and interest in this exciting new frontier.

However, as the Metaverse continues to evolve and grow, it is becoming increasingly clear that Artificial Intelligence (AI) will play a crucial role in its development. AI technologies, such as machine learning and natural language processing, are already being used to create more realistic and engaging virtual environments, and they will only become more critical in the future. So it’s only natural that the focus will be on other more practically implementable technologies that will eventually feed into some sort of Metaverse in the future.

Where to from here?

In conclusion, while it is true that the media frenzy has died down, behind-the-scenes companies are still actively investing in the metaverse, and it’s still very much something to keep a close eye on. The immediate highlighting focus, however, has shifted towards more practical applications, such as AI, that have already demonstrated their value in various fields.

It is important to note that advancements in other areas of technology will likely feed into the development of the Metaverse, whatever form it may take. As such, it would be premature to write off the Metaverse entirely. Instead, we can expect to see continued development and refinement of the concept in the years to come as technology continues to evolve and new possibilities emerge.

If you are interested in understanding more about the Metaverse and AI to stay ahead of the pack, try to define a need and then see how the tech can be bent to meet that need – rather than simply plugging in to see what it offers.

If that’s a conversation you feel you would like to have… LET’S TALK!