Is the Metaverse still our future?

Release time:2022-02-27 source: 1757 views Trending Copy link share

Since the beginning of this year, the popularity of the metaverse has plummeted. Meta reported earnings in early February, and its Metaverse division, Reality Labs, lost more than $10 billion. Meta shares have fallen sharply since then, falling more than 48% from their September highs. In addition, Roblox has not developed as well as expected.

The developmental predicament of the Metaverse is influenced by many factors. First, expectations of Federal Reserve Board tightening are gradually increasing, and as interest rates rise in the future, growth companies that rely on loans will be hindered from expanding. Second, risks such as war hit market sentiment, and funds tend to flow into safe-haven varieties such as gold. At the same time, companies pioneering the metaverse will not be able to achieve profitability in the short term.

But the metaverse remains the hottest future of our time. Although technological development is still flawed, the Metaverse already has substantial technological support. In addition, there are many application scenarios for the Metaverse. People have explored a large number of metaverse application scenarios, including work, study, entertainment, social interaction, etc.

Device updates for the Metaverse are also on the agenda of big companies. According to  reports, Apple has completed the second phase of engineering verification testing (EVT2) for its AR/VR device, which is expected to be available by the end of this year. Meta Platforms CEO Mark Zuckerberg also said that the company is developing a voice assistant for the Metaverse. Manchester City football team has begun construction of the world's first metaverse football stadium with the help of Sony's virtual reality (VR) experts.

The future metaverse will be an open, decentralized world. People are no longer limited by identity labels in this world, which requires the cooperation of large global companies. Therefore, the Metaverse is still quite a long way from actually landing. In terms of technology, VR, AR, blockchain, 5G, AI and other technologies are also not perfect.

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