What happened to the metaverse?

The metaverse was one of the technological ideas that excited people the most until generative AI stole its spotlight. Opinions about the metaverse have been divided, with some dismissing it as a mere gimmick while others view it as the next revolutionary development. Despite its potential to reshape internet usage, concerns have been raised by users and developers regarding the significant investments required and the slow growth rate of user adoption. And still, many people remain uncertain about the precise meaning of this concept.

The reality is that ambitious initiatives aimed at transforming the world on a large scale often struggle to materialize due to the inherent challenges involved. Take the examples of the PC and smartphone, which have undeniably changed our lives. However, these transformations occurred gradually over time rather than in one monumental leap. Even after forty years of PC existence, we still deal with paperwork, and our smartphone usage for communication resembles that of the basic phones from the 1980s.

These inventions didn't revolutionize our way of life overnight. The PC provided a means for us to connect with others, share resources, and exchange ideas. The smartphone gave us a persistent and reliable mobile internet connection, enabling us to perform PC-like tasks from any location.

Most people are more comfortable with incremental change rather than sudden exponential shifts. We prefer to improve upon what we already know rather than completely embrace an entirely new way of existence. As creatures of habit, we tend to cling to familiar routines. Therefore, the question arises: Are we truly prepared to abandon the physical world and venture into an uncharted virtual realm?

What, exactly, is the metaverse?

The metaverse is a computing platform that aims to provide digital experiences that can serve as an alternative or replica of the real world. Within a virtual environment, it encompasses various aspects of our civilization, such as social interactions, currency, trade, economy, and property ownership.

However, if you were to ask an average person to define the metaverse, they might struggle to provide a clear answer. Many people envision it as a three-dimensional virtual world where users can interact with each other through their avatars.

Due to the lack of a universally accepted definition, there are numerous interpretations of the metaverse, and no single interpretation is considered incorrect. This has contributed to the enthusiastic but ambiguous discussions surrounding the concept. Any digital experience can be associated with the metaverse, making it a topic open to even more diverse interpretations and discussions.

How did the Metaverse become a buzzword?

The popularity of the metaverse experienced a groundswell during the COVID-19 era when many people sought alternative ways to communicate and engage with others. Virtual meetings became commonplace, with avatars sitting at conference tables within virtual offices. People also explored virtual travel, visiting destinations like the Cappadocia and Hagia Sophia. Even popular musical performers like Justin Bieber and Travis Scott held concerts in the metaverse.

However, now that the pandemic is over, there is a noticeable shift in people's preferences. Many individuals have grown tired of endless virtual meetings and are eager to experience the physical world in person. Travelers seeking real-life experiences and major musical acts focus on performing in front of physical audiences rather than offering metaverse concerts. People have even returned to movie theaters to enjoy the latest film releases. This shift indicates that while the idea of the metaverse gained traction during a time of necessity and limited physical interactions, people's desire for real-world experiences remains strong, and they are actively seeking opportunities to engage with the physical world again.

What to expect from the metaverse in the future?

While the initial hype surrounding the metaverse may have subsided, it is unlikely that the industry will abandon it entirely. Companies across various sectors continue to invest significantly in the metaverse, showcasing its potential in different domains. For example, at automotive trade shows, many vendors utilize the metaverse in their presentations to demonstrate the ease and functionality of their digital solutions. Attendees can use virtual reality (VR) glasses to try the technology solutions firsthand, providing a tangible and immersive experience.

In the automotive industry, augmented reality (AR) is employed by manufacturers to accelerate product development and prototyping. Customers can visualize and customize their desired car by viewing it in different colors and variations. Similarly, architects leverage AR to create virtual prototypes, enabling clients to review and approve every detail before construction begins.

The metaverse also finds practical applications in healthcare. For instance, it allows young surgeons to repeatedly practice complex procedures like open-heart surgery in a virtual environment until they attain proficiency. This concept extends to other training opportunities in fields such as rescue, law enforcement, and firefighting. Firefighters can now experience the challenges of battling flames within a commercial building, simulating the conditions of a blazing inferno.

These examples highlight how the metaverse offers practical applications beyond entertainment through technologies like VR and AR. Industries recognize the potential for enhanced training, product development, and customer engagement. While the metaverse may not have lived up to the initial hype, its continued adoption and utilization in various sectors demonstrate its lasting impact and value in specific use cases. And this is just the tip of the iceberg...