Is the Metaverse dead? Are companies strategically gearing up for if use cases arrive or putting efforts on hold?
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Analyst, Corporate Development7 months ago
The term 'metaverse' has been poisoned in my view, but that doesn't mean the overall vision of what it represents is dead. One point of common confusion is whether the metaverse will replace the internet. It will not, and that's one of the issues I have with the term. The internet is evolving into a increasingly 3D/immersive and synchronous. Personally, I don't think a jazzy, vague, and now stigmatized term is required to describe whatever the internet looks like in 5-10 years. How we interact with the digital world in the future is going to look different, but in my view the metaverse is impossible to build strategy around. It's like trying to train a team of athletes to play a game that hasn't been created.
I agree with Kate, the best thing you can do to strategically prepare yourself for the metaverse is to focus on the constituent 'building block' technologies that are driving the evolution of the internet and how we interact with it. Think spatial computing, AI, digital twins, virtual experiences, and of course the hardware interfaces (Mobile, AR/VR/XR). If you have gaps in a particular area, pilot a small project-- slowly build the muscle. Very few companies need to be placing big bets on the 'metaverse' right now. It's just too early. Just continue to monitor the space and keep up to date on what startups & incumbents are up to.
Vision Pro is likely an inflection point in all of this, so keep an eye on the creative apps developers start building and the ways people being to use the device/apps. At the end of the day, it's the developers and consumers who will decide what the next iteration of the internet looks like and how we use it.
Hope this helps, good luck!
I think companies are still exploring the potential of the Metaverse and investing in related technologies, but the pace and focus of these efforts usually vary depending on factors such as technological advancements, market trends, regulatory considerations, and consumer demand.
I believe our focus now is completely on GenAI.