Mark Zuckerberg, CEO of Facebook, announced last October that the company would change its name to Meta and become a “metaverse company.”

He envisioned a utopian future in which billions of individuals would occupy integrated virtual environments for hours working, and playing games in virtual and augmented worlds.

What Is The Meta Metaverse?

Following Facebook’s recent redesign, the term “meta” has been widely discussed.

Meta’s Metaverse will use A.V. and M.R. technology to create a completely interactive online experience, or “encapsulated internet.” In which users do more than browse, publish, and comment; instead, they engage in a fully realized computer-generated environment.

Zuckerberg detailed how Meta would use an A.I. model to anticipate and display the user’s whole body’s movements. The live-streamed debut of Horizon Worlds’ legs was exciting, but it looks to have been a case of “screen pictures faked.”

At least Zuckerberg’s comments about adding legs demonstrate the difficulty involved. In hindsight, he may have been implying that Meta hasn’t yet conquered this obstacle.

While his avatar leaped and danced on the screen, he continued, “Actually, legs are tricky, which is the reason other systems in virtual reality do not even have them either.”

Digging Deeper Into Meta

Let’s explore these mysteries by first posing a more basic lexical query (a meta-question). What does the word meta imply, and precisely what does it represent? And how does this relate to Facebook’s plans under its new moniker?

In his theoretical epic Snow Crash, published in 1992, Neil Stephenson popularized the term “metaverse” to describe a parallel universe where the story’s events occurred. One in which “Reality” was the principal physical world and the other in which “Metaverse” existed as a network of virtual social worlds. The Metaverse is rife with peril, mystery, and deception, while the real world is ruled by evil mega-corporations that have privatized every aspect of human existence.

One can ponder if this reality had a role in Meta’s rebranding effort. Given that the notion with which they have been associated has a history steeped in science fiction gloom and the specter of the global corporatocracy. In that case, the issue for Meta and any other firm trying to lure us into an apparent metaverse would be, what meaning of the term “meta” do you imply?

Does the Metaverse have redeeming qualities that might help our reality and existence? Or are you suggesting we go somewhere else entirely? As though we urgently need to get away from what we have right now? Is it “beyond” or “with, besides” that you have in mind?

The “beyond” we seek, spurred by the illusion of the insufficiency of the here and now, is related to a more general technical (and philosophical) problem of whether progress comprises “going further than” the square one of primal reality. How do our answers to this question shape our interactions with the world, and how do we utilize the internet?

Zuckerberg said to Fridman during an interview, “A lot of people assume that perhaps the Metaverse refers to a location. But one interpretation of this is about a period when really integrated virtual worlds become the main way that we live and spend our time.” That’s a perfectly fair model, in my opinion. He said that many people currently spend most of their time in the digital realm, although not in virtual reality.

Meta’s Latest Moves In The Space

Last year, Meta changed its name from Facebook to better represent its aspirations outside the social media industry. Mark Zuckerberg, the CEO, has shown a keen interest in expanding the Metaverse, a collaborative virtual environment. In response, Meta built Horizon Worlds, an online community where digital personas interact. To access Horizon, users must first put on one of Meta’s Quest V.R. headsets.

At Meta’s Connect event on Tuesday, Zuckerberg introduced his company’s latest virtual reality headgear, the Meta Quest Pro, to increase interest in the Metaverse. The gadget has cutting-edge features, including a sophisticated mobile Snapdragon computer processor, but it will set you back $1,500.

The Wall Street Journal said that a spokesperson for Meta confirmed that the business is still working on the Metaverse, which has been originally planned as a multiyear endeavor. Meta promised that a Horizon website would be available this year for smartphones and P.C.s, although the company representative did not provide any specific release dates.

Pros Of Meta

V.R. will be Common

Users of the Metaverse have previously held out hope that Facebook’s involvement would boost public awareness of the virtual world. More individuals would be interested in joining, which would be good for the overall growth of the virtual world industry.

The World Improved

By 2021, V.R. will be integrated into all facets of online life, from smart homes to vehicles. The internet marketplace will continue to expand, as with every other technology. It isn’t limited to the game industry, either. Virtual reality technology has the potential to revolutionize not just the gaming and entertainment sectors but also other fields, such as medicine and education.

Cons Of a Meta Metaverse

Social Media Competition

Meta mimics or buys out rivals. 2012 was Instagram’s $1 billion year. In 2014, Facebook bought WhatsApp for $17 billion. Strategically, such a purchase made sense. Those applications may have lured Facebook users away.

Potential Dangers in the Market

The greatest threat to any stock is generally a general one, not an individual one. In the financial crisis of 2007-2008, no corporation, particularly those in the housing or banking sectors, had much wiggle room.

Risk regulation

Regulatory risk exists. Meta is a new technology in an uncontrolled market. Since American sectors tend to grow more controlled over time, Uncle Sam may regulate social media corporations. Investors are likely to say rules are unfavorable if asked.

Centralization

Blockchain technology is the foundation of many metaverse systems, and the industry widely values decentralization, open-source code and true digital ownership. Facebook already instills very large fees and centralized control over all of its social platforms, is that really how we want the metaverse to be?

Final Thoughts

Many critics of the metaverse believe it can never replace our physical reality. It won’t and it’s not supposed too. Will some people spend majority of their time in there, similar to how people already spend a majority of time on laptops, video games and smart phones? Absolutely. 

The metaverse will only replace the tasks and actions that is can enhance or make more convenient. Imagine instead of FaceTime, feeling like you are truly next to your friend or loved one. Imagine instead of watching a movie on TV, you enter a metaverse theatre with your friends to watch together. What about the popularity  of games like Sims, GTA, and similar lifestyle applications many people became obsessed with? How about education and work? Bringing these two to the metaverse is a major step toward equal opportunity around the world. 

So many different use cases that are truly hard for anyone to imagine right now and the biggest aspect of this technology is mainstream adoption. Meta boasts nearly half the population of the world as active users on its current platforms with an excellent social media status. This gives the company a major advantage over any possible competition as they work on creating serious value.

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