The metaverse already moves millions, but it can take 10 years to mature

The chart leaves no doubt: it is the first upward curve to look very sharp, illustrating the public’s expectations of the new technology, and soon after is a steep downward curve that reflects the disappointment of the same population as the technologies begin to debut.

The graphics are suitable for all technologies, but Charles Fink, a columnist and industry expert at Forbes, re-presented them to illustrate the future of metaverseos at the Business Digital Congress (APDC) of the Portuguese Telecommunication Development Association in Lisbon on Wednesday and Thursday.

“I would say it will take 10 years before we have a consolidated metaverse,” the expert predicted in a lecture given at the APDC Congress.

Charles Fink, author of Charles Fink’s Metaverse (2017), may seem pessimistic given the media’s current appreciation of the metaverse, but the chart he used to describe the technology adoption curve also helps to understand what’s at stake. : After a disappointing phase, the audience begins to use new tools and eventually incorporates them into their daily lives as they evolve. And it is technological development that may take some time before several metaverseuses appear on this Internet.

Charles Fink recalls that the metaverse still lacks a real technological layer that guarantees the interoperability of avatars, digital artifacts, data, and cryptocurrencies between different virtual “worlds.”

Luís Bravo Martins, Marketing Director of AR-Kit, recalled the potential of metaverse to transform companies

Despite technological challenges and consumer reluctance, opportunities exist. Fink recalls estimates that point to more than 1,000 metaverse worlds and more than 300 million virtual reality glasses that allow you to “travel” in immersive environments without leaving your place after 2030.

The expert even admits that we should just say that the metaverse has penetrated the market when people stop using it applications and video games. But he also acknowledges the ability of this new technological wave to change other industries: “Film producers will become the creators of the worlds,” he says, not forgetting that regulation is essential.

“The second stage in the development of the Internet”

“There is also corruption (in the metaverse),” the expert rebukes, recalling cases where the creators of these virtual worlds filled with avatars and digital objects reserve some of the virtual lands they offer to the public. for friends or acquaintances.

Charles Fink also has no doubt that the identity gap has yet to be filled. “Whether it’s a robot or a human, it has to be responsible for its actions,” the American expert reiterates.

Despite these gaps, there is no shortage of people investing in the metaverse. The best-known case refers to a company that manages Facebook, which changed its name to Meta and set aside more than $ 10 billion in investment to change the paradigm.

Pedro Pombo, head of Accenture Song, adds another illuminating figure: more than $ 300 billion is currently being handled in metaverse-related activities. This also includes augmented reality environments that use glasses or cell phones and place icons, tips, information, advertisements, or digital objects on top of reality images.

This prediction of the metaverse of the augmented reality version makes Pedro Pombo believe that one day we will walk down the street, see the apartment we would like to buy, and show the cell phone camera it finds. icons on the screen. , “price and I spread loan ’.

“We believe the metaverse is the second step in the evolution of the Internet,” the director emphasizes.

In this new phase of evolution, purpose and interoperability must be ensured and tools must be put in place to ensure social interaction. “We see many companies playing the metaverse without defining their purpose well,” warns Pedro Pombo, citing the lack of a strategic goal for a supermarket chain that wanted to replicate itself in the metaverse, forgetting that it is easier for the consumer to shop a application or on the website.

Also in lectures dedicated to metaverse, Luís Bravo Martins, responsible for marketing Kit-AR, praised NFT as one of the funding engines for metaverse to enable the sale of digital products on various platforms, but failed. to mention the potential for change in business environments. “If a condominium has a drilling machine and associated NFT, you quickly know where it is, who used it and when the maintenance was done, and so on,” says Luís Bravo Martins.

So far, according to the International Association of Virtual Reality Professionals, which suggests there will already be 130 companies in the country working directly or indirectly on metaverse-related activities, he said.

Pedro Pombo, head of Accenture Song, recalls that the metaverse has already begun to move millions of dollars and euros, but the plan must have a well-defined purpose.

Pedro Pombo, head of Accenture Song, recalls that the metaverse has already begun to move millions of dollars and euros, but the plan must have a well-defined purpose.

EDP ​​also recognizes the benefits of moving to the digital world. Margarida Azevedo, head of EDP University, recalled the idea of ​​the company’s investment in technologies that bring different people together in the same virtual space with the aim of creating a sense of togetherness. which was also mentioned by other speakers on Wednesday afternoon.

“Avatar allows you to project the best possible image of a person,” recalls Margarida Azevedo, not forgetting the benefits of “team dynamics”. Are avatars really the people they represent “or do we just personalize reality?” It will take a long time to get an answer.

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