Numerous businesses in the Middle East and the rest of the world are putting forth efforts to advance the metaverse and better serve its users by creating greater, more integrated digital spaces. For instance, Dubai has made its metaverse ambitions public, with the declared objective of becoming a prominent worldwide metaverse centre. It did this by announcing plans to develop a US$4bn metaverse economy in five years, potentially adding 42,000 virtual work opportunities. Despite the exciting new opportunities it brings, the metaverse has its concerns, and we must be aware of them if we are to embrace this innovative technology fully.
Is The Metaverse Feasible?
To begin, the uncertainty of the standards of the metaverse causes concerns. The internet has a credible creator who also presides over the World Wide Web Consortium, which is an organization responsible for establishing and maintaining the present internet’s standards. Unfortunately, the metaverse doesn’t have either.
There is another concern regarding the frequency of the review of metaverse standards. Unlike today’s predominantly 2D online environments, 3D virtual spaces represent a significant technological leap forward. Current web standards call for moderate and steady upgrades, which will slow innovation but promote adoption and quality of implementation. However, while frequent updates benefit innovation in some areas, they will be expensive in terms of time and money, leading to fragmentation and low uptake.
Some other issues take on even more immense proportions due to the metaverse’s inherent interconnectedness. They are privacy invasion, unhealthy competitiveness in the marketplace, and erroneous information. Risks to personal information and safety could also arise in the metaverse. The metaverse, as an online-enabled place, can present additional challenges in terms of security and privacy for both individuals and companies.
The metaverse aims to introduce consumers to immersive experiences by fuzzing the lines between the real and digital worlds. Addiction to virtual worlds can cause people to avoid engaging with the actual world, even if this is viewed as a benefit. One of the negative aspects of the metaverse is that it may alter how people view their relationships and the world around them.
When asked if the metaverse is feasible, Meta and its contemporaries will confidently respond: “Yes, and they say it’s just a matter of time.” No doubt its problems are enormous, yet technology can solve them. This could be the case with many of the metaverse’s issues pertaining to displays or sensors. However, despite state-of-the-art technological advancements, not all issues can be fixed. The metaverse may hit a wall of technical difficulties that we cannot overcome by throwing money at the problem.