• Sun. Jun 16th, 2024

Since the general enthusiasm of the metaverse died down, critics have said the new technology won’t have a future. They describe the hopeful’s assertions as “unrealistic” or “outlandish”.

In truth, the future of the best technologies can never be determined immediately.


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Adoption takes time.

And with integrations of similar emerging technologies, the metaverse will become a force to reckon with in the not so distant future.

At least, that’s what our team of experts think (mostly).

Here’s what they had to say.

Jack Carrere, Co-founder And CEO at Prokeep

“The future of the Metaverse looks incredibly promising, with technology rapidly advancing to create more immersive digital experiences. We’re talking about a world where virtual and physical environments merge seamlessly, transforming everything from how we play games to how we shop and connect with others. This shift is being driven by the maturation of virtual reality, augmented reality, and other cutting-edge technologies.

This transition to the Metaverse brings exciting possibilities for businesses. Imagine setting up virtual storefronts, offering unique shopping experiences, and connecting with customers in entirely new ways. However, there are challenges to address, such as data privacy and security concerns. As we move forward, the Metaverse will likely reshape industries, redefine social interactions, and even impact how we approach work and education. It’s an exciting evolution that will shape the digital landscape for years to come.”

 


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Related: The 3 Prerequisites to Enter the Metaverse

 

 

Vikas Kaushik, CEO at TechAhead

“I’m eager to share my perspective on the future of the metaverse as the CEO of TechAhead, a prominent figure in the rapidly changing technology scene. A rare opportunity for the metaverse to thrive is provided by the Web3 space’s ongoing expansion. I’ve been driving corporate growth and innovation for more than 24 years, and I’m confident that the metaverse is about to change the way we engage with digital environments.

The metaverse has enormous potential, and TechAhead, a dependable partner in digital transformation, is well aware of this. The metaverse has the potential to disrupt sectors by providing immersive, interconnected experiences, as we’ve seen in our 1500+ projects finished for a global clientele. The integration of the metaverse will raise the bar for digital interaction across web and mobile platforms.

The strategic vision is key in this trip toward the metaverse’s future. The metaverse’s evolution will demand a customer-centric strategy, much like TechAhead’s commitment to quality. Innovative solutions and a dedication to pushing limits are required by the promise of a more connected society. My emphasis on strategic foresight, as an industry leader, is in line with the metaverse’s ability to produce transformative opportunities.

The metaverse is the pinnacle of technology as it currently exists. It involves combining several parts of our digital lives, not simply virtual reality. The metaverse will use cutting-edge technologies to construct a future that once seemed science fiction, just as TechAhead uses cutting-edge solutions to keep companies ahead in the dynamic digital landscape. We are on the verge of a digital revolution together, and I do not doubt that TechAhead’s dedication to innovation will mesh well with the growth of the metaverse.”

 

Christopher Alexander, Chief Analytics Officer, Pioneer Development Group

“The metaverse is imagined as a place is single, shared, and immersive virtual space. That makes it ideal for blockchain. Blockchain can provide the massive computing power required and the security features and the fact that you truly own your data allows for ownership of the digital self. As for the future, I think predictions are premature. It is basically the internet in the late 1980s right now. The infrastructure is being built and new capabilities will lead to innovations we can’t yet imagine.”

 

Related: Will the Metaverse Change the Crypto Universe?

 

Markus Levin, Co-founder and Head of Operations at XYO

“Off the bat, I think the term “metaverse” is a bit of a trap. How will we know when we’ve achieved “the metaverse”? The reality is that the line is blurry and ever shifting. We already have digital lives – we use technology to interact with others, make purchases, create virtual experiences, and generally be citizens of the virtual world. When we talk about building the metaverse, we mean expanding on these existing frameworks and building new technology to fill in the gaps and create more cohesion between them.

I think over time you’ll see a continuation of the same progress – new technologies creating new ways to connect and share human experiences. As our digital world rapidly expands, Web3 presents an interesting opportunity to step back and ask “what is the best, fairest, and most reliable way to connect these virtual experiences?”

We’ve seen the shortcomings of Web2 infrastructure and their data gobbling, ad spamming, monopolistic practices. Web3 presents a counterpoint, an alternative way to reach end users, and do so in a fair, equitable, and future-proof way. I don’t see the demand for fairer infrastructure waning, either from developers or end users. AR in particular will bring these issues to the forefront.

As AR gains popularity, we’ll also see increased reliance on decentralized protocols designed to bridge our physical and virtual worlds while remaining immune to bad actors. As much as the mission to build Web3 and the metaverse is about building innovative new technologies, it’s also about righting the missteps of the past two decades, and building a better bedrock for the next two decades to come. It’s not just shiny new features, it’s about embracing frameworks that give people sovereignty over their digital lives. Demand for the shiny features may wane, but demand for sovereignty will not.”

 

 

Marrione Reychelle Manalo, Metaverse Developer at Asian Entertainment & Culture

The metaverse isn’t going to be a digital reality, it will be the second reality. It’s social media on crack. While social media provides the world with infinite reach and unbound freedom without no accountability, the metaverse will make our virtual personalities (aka avatars) more tangible and real. The technology of the blockchain will make our avatar’s activities fully traceable, not to mention immutable. If you do something, the blockchain will keep a record of that forever. It will change the landscape of how we communicate and how we react to messages. While current social media platforms have been proven to manipulate algorithms, the metaverse can be fully trustless. No bots. Not spammers, No multiple accounts. If your message doesn’t gain ground, no amount of coding can make it appear so.

Marrione’s Bio

Marrione Reychelle Manalo is a rare breed, a perfect mix of art and technology. She is a comic book illustrator, animator, graphic designer, and metaverse developer. She started printing her art on t-shirts which she sells from her own garage. While she still maintains that business, she has evolved to develop metaverse spaces to bring to life Asian mythological, historical, and literary characters. She finds joy in the possibility of eventually allowing the world to experience Asian mythology, literature, and history.

 

 

Lars Seier Christensen, Chairman and Founder at Concordium

“The metaverse market size is predicted to be worth between $8 trillion to $13 trillion by 2030, according to research from Citi. The sector has huge potential in industries such as entertainment, offering new ways to interact with people. However, even though these sectors are consumer-focused, I foretell serious growth potential for enterprise adoption of the metaverse.

In the future, organizations might look very different after adopting the metaverse. For example, widespread use of ‘digital twins’ can transform various assets into digital versions for use in these metaverse ecosystems. This would enable data-driven and optimized decision-making, leading to more efficient supply chains and increased channels for marketing and advertising.

If this development follows the Web2 blueprint, new waves of privacy issues arise, including identity theft and online fraud. It is essential that metaverse users are verified and they are who they say they are. This can only truly be realized by enterprise metaverses being built upon the bedrock of blockchain. As big tech is exploring biometrics, such as fingerprints for user authentication, decentralized identity solutions are worthy of exploration. If metaverse users can be authenticated through blockchain, they are able to use their own data and be confident that they are interacting safely in the virtual world. This will be imperative should enterprise metaverses rise in use and dominance.”

 

 

Alok Joshi, Co-Founder at Lepasa Metaverse

The Metaverse, It’s not just something from science fiction anymore; it’s becoming real. This is changing how we interact, learn, work, and hang out with friends. It’s not just about cool virtual places – it’s also about new ways to do things, like attending meetings, working together on projects, and enjoying events in a digital world that feels almost as real as the one outside.

Thanks to better technology for virtual and augmented reality, we’re getting really close to a big change that can connect our real lives with the digital world. This means we could move between these two worlds easily. But, there are important things we need to think about, like keeping our digital stuff private, making sure everyone can join, and staying safe.

In the years to come, the Metaverse could become a big part of many fields, not just games. It might help doctors, teachers, and architects, too. If we mix blockchain technology with the Metaverse, we might truly own the things we have there. Also, smart computers could make our time online even cooler and more personal.

To sum it up, the future of the Metaverse looks incredibly exciting! It’s like a canvas where we’re painting our most creative tech ideas. It’s a world where the lines between what’s real and what’s not start to get blurry. But, as we keep exploring, we need to work together and think about what’s right and fair. This will help the Metaverse become a place that’s awesome for everyone.

 

 

Quynh Mai CEO & Founder of Qulture

“The Metaverse represents a virtual universe that allows users to immerse themselves in a fully interactive and immersive digital world, all in real time. The Metaverse has been gaining traction over the years, and the future looks bright for this technology as it becomes more useful to users.

The metaverse is the love child of video games and social media, where users can immerse themselves in another world, meet new “people” and socialize. The technology is nascent now, but continues to evolve and will eventually offer a much more collaborative and engaging environment than chat rooms or Zooms.

The metaverse is quickly morphing into a virtual event space. Whether public (concerts in Decentraland) or private (invite only virtual penthouses), it provides an immersive and interactive, gamified event experience. Creators must be very careful to create a magical world, not a replica of our real one in order to engage users.

The metaverse will become a natural extension of landmark and cultural institutions of the future, so that tourist and scholars can visit and experience history, design and architecture in a multi-dimensional way. The much anticipated Apple Spatial Computing headset may be the simple solution to be the entry point for these multi-dimensional tours.

There is a lot of excitement around Apple’s new AR glasses because it will help make entering the metverse more user friendly. I predict a new wave of metaverses being developed – virtual showrooms, events and meeting places – all spurned by Apple’s new user friendly headset.”

Aarti Dhapte, Senior Analyst, ICT at Market Research Future

“The metaverse represents a convergence of technologies that transcend traditional boundaries. It’s not confined to virtual reality or augmented reality; rather, it’s a holistic ecosystem where digital and physical realities seamlessly merge. This evolution holds transformative potential across industries, creating immersive spaces for collaboration, education, commerce, and entertainment.

As blockchain technology gains prominence, the metaverse’s promise of true digital ownership and decentralized economies becomes more tangible. NFTs (Non-Fungible Tokens) are unlocking the concept of digital scarcity, enabling users to own unique virtual assets. This, coupled with advancements in spatial computing, is driving the creation of user-generated content and interactive environments, fostering a sense of agency and participation in the metaverse.

However, while the metaverse presents boundless opportunities, challenges must be met head-on. Privacy concerns, data security, and ensuring inclusivity remain paramount. As we delve deeper into this interconnected digital universe, careful consideration of ethical frameworks and user rights is essential to ensure a metaverse that benefits everyone equitably.

In essence, the metaverse’s future is one of innovation, disruption, and transformative experiences. As technologies continue to mature, we’ll witness the metaverse becoming an integral part of our daily lives, redefining how we communicate, create, and explore in ways that were once the realm of science fiction.”

 

Related: The Metaverse: What Is It And Why Does It Matter?


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Kevin Moore - E-Crypto News Editor

Kevin Moore - E-Crypto News Editor

Kevin Moore is the main author and editor for E-Crypto News.