What the Metaverse is not

There’s so much hype about the metaverse. Companies sharing news about solutions they are building. People talking and arguing what the metaverse really is. We’ve also chimed in with an article exploring the topic. But with all this talk comes a lot of confusion. Let’s debunk some of the myths about the metaverse, shall we?

Reading time: 3 mins | Published on: 1/17/2022

Metaverse is not
10 Misconceptions: Debunked

⭕ It’s not owned by Meta (formerly Facebook). They are just one of the companies building their own metaverse. This is a very important point. Since there isn’t a single metaverse, there isn’t a single owner of it, too. If history and economic theories are any guide, there will be quite a few instances before the market saturation point and the logical consolidation afterwards.

💰 It’s not yet another crypto. Although many of the solutions offer coins or tokens, crypto is not a mandatory part of the metaverse. Indeed, some solutions have their crypto coins listed. While others have only issued tokens as a means of internal payments.

🎮 Believe it or not, it’s not a game. True, games were the first use case, but but we’re well beyond just games now.

🥳 There’re a lot more opportunities in the metaverse than just entertainment. True, its immersive experience is great for events, conferences, job fairs, etc. But looking at the companies announcing metaverse solutions, we’re talking serious business here.

3️⃣ It’s not necessarily a 3D-only experience. You can enjoy the 2D as well.

🥽 VR/AR/MR headsets are great to have but not mandatory. Neither are goggles but an XR emoji doesn’t exist yet. 😊

🧒 It’s not only suited for Gen Z and after. Adults are also welcome.

😱 For all Snow Crash fans and regular skeptics, the metaverse is not a bad thing. Neither is it the beginning of the end. By the way, the word ‘metaverse’ was coined by Snow Crash’s author – Neal Stephenson. He envisioned the metaverse as the successor to the internet.

🆕 It’s not even that new! Remember Second Life? That game came out in 2003! Another, more recent example, is Roblox, which was released in 2006. A note for the younger readers: Second Life was a platform where people, using an avatar for themselves, would lead a second life in a virtual world.

🌐 And last but not least, it’s not a replacement of the web but an evolution, rather.

The Change is Happening

How we work and interact with each other and with technology has been changing for some time. The pandemic pushed us a few years (decades) forward. Obviously, we need to meet, collaborate, and socialize in new ways. And the metaverse promises to solve exactly that – to enable immersive, next-to-real, and productive interactions. Cannot wait to see what the future holds!