Why the metaverse cannot be an alternative to the real world

 

Why the metaverse cannot be an alternative to the real world

If I had to pick one keyword that heated up 2021, it would definitely be 'Metaverse'.

Facebook, which went all-in on the metaverse by changing its name, Microsoft, which showed a strong will by introducing a large number of new metaverse-based products, and Tencent, which formed a team dedicated to metaverse and declared its participation in the war.

A situation in which companies rush to the point where the expression of a craze is insufficient, and when the keyword “metaverse” is added, stocks (Read more: METAVERSE STOCK CRASH, HOW SIMILAR IS IT TO THE DOT-COM BUBBLE? )  record high prices every day, showing signs of overheating.

The metaverse has become a trend beyond a fad.

What is the metaverse and could it really be the second internet revolution?

What is metaverse?

Metaverse is a compound word of 'Meta' meaning transcendence and 'Universe' meaning the real world, and refers to a three-dimensional virtual world created with Internet-based virtual reality technology.

The concept first appeared in the 1992 science fiction novel 'Snow Crash' by Neil Stevenson.

Similar concepts like cyberspace or virtual community have existed before, but Neil Stevenson (who thought the word was cool and unsexy) coined the term metaverse and became known to the world.

The metaverse is, to put it simply, a computer-implemented virtual world.

Almost all activities that can be done in real life are possible, and because the laws of physics are not applied, it is a virtual world where activities that cannot be done in real life are possible.

The Fall of Second Life Since the emergence of the concept of the metaverse, many platforms and games have been created with this motif.

If I had to pick one that was most famous, I'd say Second Life (2003).

Second Life, inspired by the novel 'Snow Crash' by Philip Rosedale, was a platform that was rated as the best online metaverse world.

Second Life was able to freely conduct commercial activities using the in-game currency, Linden Dollars, and could make money by establishing a company or getting a job at a company established by others.

 

Second Life was a place where you could experience various life experiences in the real world, such as traveling with people, having a party, or getting married.

As people flocked to Second Life, many companies entered Second Life to promote publicity.

Toyota launched a car dedicated to Second Life, and Dell and IBM opened virtual stores within Second Life.

Reuters has opened an office, and popular British group Duran Duran has even held an online concert at Second Life.

With more than 10 million users, Second Life, a leader in the Web 2.0 era and as a next-generation platform, collapsed as quickly as it grew.

There were several reasons for the downfall of Second Life.

There were technical limitations and lack of content, but the biggest reason was the growth of social media represented by Facebook and Twitter.

Users only thought of the relationship and life of Second Life as a temporary deviation, not as a tool to replace reality.

As social media services based on reality grew, people no longer felt interested in the virtual world, and this became a decisive factor in the downfall of Second Life.

https://www.youtube.com/watch?v=z3gHCupXSMs

Fake metaverse warning

When the metaverse becomes the mainstream and the company's stock price rises when only the name metaverse is given, companies rush to launch metaverse-based services.

And, as is often the case with these services, they boast of poor quality.

I think the core of the metaverse is immersion.

At the very least, it is justified to use the Metaverse platform when it provides a level of service and experience that can be provided in reality, and users can find value there.

The service that uses the keyword metaverse the most commercially is Earth 2.

'We create a virtual earth that is identical to the earth in the real world and sell the land there'

This is the basic concept of Earth 2. Earth 2, released in November 2020, is evaluated for a total land value (market cap) of $179 million at the end of December 2021.

[caption id="" align="alignnone" width="562"] Virtual Land - Join the Metaverse - Earth 2®[/caption]

The problem is that Earth 2's land can only be traded between users, and there is only ownership, and in reality, it's just useless code.

Earth 2 announced a plan to build a metaverse platform using land and make coins.

It's just a plausible blueprint that lacks feasibility.

Making a virtual land that doesn't even exist and selling it. There is no modern version of Bongi Kim Seon-dal.

Many companies create and sell goods of unclear value or substance based on metaverse and NFT, and the reason people are willing to open wallets to these goods is because of Bitcoin trauma.

Many people who watched the rice cakes of Bitcoin in front of their eyes said, "Maybe this is the second Bitcoin"

We purchase virtual goods with the same mind.

It's like fear marketing using people's anxiety, a huge cyber blockade, and a Ponzi scheme.

Why did Facebook change its name to Meta?

On October 28, 2021, Facebook CEO Mark Zuckerberg announced that the company would change its name to Meta.

Read more: “IF YOU CAN’T ACQUIRE IT, COPY IT”, HISTORY OF FACEBOOK IMITATION

What is the reason and background of Facebook's sudden name change?

The metaverse platform has three essential elements.

Immersion, winner-take-all, community. A key element of the metaverse is immersion.

Can the virtual world provide an experience similar to or better than reality?

How immersive can the user be in the virtual world?

That is the core of the metaverse. There are two main ways to maximize immersion.

It's a direct connection.

And Metaverse is a winner-take-all market with the largest share of the market.

It is difficult to use multiple metaverses at the same time, as in the case of mobile games, the metaverse divides the genre into A metaverse for shopping, B metaverse for education, and C metaverse for community.

A metaverse that is technically good but has few users
Vs.
Although technically a bit inferior, the metaverse used by many users

Which platform will people choose?

If the metaverse is a small society and country, then society and the state are maintained, economic activities are carried out, and relationships with the community are formed when there are many members.

So, Metaverse is a platform that has a very important preemptive effect.

If I had to pick one company that best understands the three essentials of the Metaverse platform, is the most prepared, and has the highest chance of success, it would be Facebook.

As explained earlier, of the two technologies (VR, neural network access) that can maximize the immersion of the metaverse, neural network access is an early research stage, so it will take a long time to commercialize.

VR is the only thing that can be used right now.

For VR devices, a company called Oculus, which accounts for 70% of the global market share, is a subsidiary of Facebook, which Facebook acquired in 2014.

[caption id="" align="alignleft" width="506"] Facebook's Oculus Quest will soon be called the Meta Quest[/caption]

In terms of immersion, Facebook has as an ally a VR device manufacturer that boasts an overwhelming share in the global VR market.

We didn't know it, but Facebook has been preparing for the metaverse transition for quite some time.

It acquired Oculus, a VR device maker, and increased the VR penetration rate by distributing VR devices at prices close to the original cost. I have built up

The cryptocurrency Libra, which Facebook was trying to issue, was also one of the paving stones for metaverse conversion.

Libra was not just a coin, but an independent currency to be used on the Metaverse platform created by Facebook.

From a community point of view, Metaverse cannot be free from the influence of big tech companies.

Big tech companies with a large number of users have an advantage in attracting early users than new companies.

If you think of Metaverse as a small society, SNS services connected through social networks can be said to be the platform optimized for attracting early users and forming communities of the Metaverse platform.

Now, let's put the puzzle together, shall we?

Facebook builds a giant virtual world called meta.

200 million Facebook and Instagram users show interest in and start accessing the Metaverse created by Facebook.

To enter here, they use VR devices made by Oculus, consume various contents made by subsidiaries in the metaverse world, and conduct commerce activities with virtual currency created by Facebook.

As the number of content provided by users and platforms increases in a winner-take-all fashion, content manufacturers and service providers fall into subcontractors that supply content or services to the virtual world created by Facebook.

In the end, a world in which Facebook's metaverse platform dominates the Internet world.

This is Zuckerberg's vision of the future of Facebook.

The Metaverse Paradox

The concept of the metaverse appeared 30 years ago, and several metaverse-themed games, such as Second Life, were released and were once hugely successful.

But the metaverse didn't get the world's attention as it is now.

The biggest reason why Metaverse has recently received a lot of attention.

It's the corona pandemic.

People who have been restricted from moving and meeting due to Corona are starting to seek communication and meeting in cyberspace as an alternative

Conversely, 'If the corona pandemic is over and a world where people can meet freely comes, will people still meet in the metaverse space?' question remains.

In order for the metaverse to become a new trend, it must have a unique value that can only be provided by the metaverse, which cannot be provided in the real world meeting.

The metaverse feeds on the gloomy reality and the future.

A world dominated by the metaverse means that the real world becomes a bleak world without hope.

A principled question about the only real metaverse and NFT in reality.

Can the virtual world be an alternative to the real world, and can cyber goods be an alternative to the real world?

[caption id="" align="alignnone" width="616"] Ready Player One: OASIS beta on Steam[/caption]

In the movie 'Ready Player One', the protagonist, who took over the operating rights of Oasis, a virtual world, decides to close Oasis on two Tuesdays and Thursdays every week.

It was a decision to get people out of the virtual world and spend more time in the real world, and that was the wish of Holiday, who created Oasis.

“I created Oasis because I couldn’t adapt to the real world.”
"I didn't know how to communicate. I've been afraid all my life."
"Until the end of my life"
"That's when I realized"
"The reality is that it's a scary and painful place, and at the same time, it's the only place where you can have a warm meal."
"Because reality is the only real thing"
(From the monologue of the movie 'Ready Player One' Oasis founder Holiday)