The metaverse is a virtual world where users can explore, interact, learn, transact, create, and experience in a fully rendered 3D immersive space. As digital innovation advances, the metaverse is one of the most talked-about use cases of Web3 technologies. Facebook's rebranding to Meta is evidence of the importance of the metaverse. In this article, we will explore why the metaverse is the future, and we need to get ready for it.
New Era of Social Media
Social media is at an inflection point, with platforms now only differing in their format. Since the proliferation of smartphones, the way people interact with social media has remained unchanged. The metaverse could introduce a new era of social media and offer more immersive experiences than what smartphones can provide.
Smartphones are at a Terminal State
The metaverse's success is dependent on the devices used to access it. Although smartphones are the dominant way to access the internet, they have reached a dead end in terms of innovation. This situation presents an opportunity for something new, an alternative input terminal that could transform the way we interact with the internet.
Wearable Technology at a Maturation Point
Smartwatches have gained massive popularity, and the VR headset market is becoming more affordable. For instance, a $5 headset loaded with a smartphone and tethered with a $2 Bluetooth controller can offer an entry point into the metaverse. Apple is expected to enter the wearable headset space in 2023, which could spur mass adoption.
Education: The Commerce of the 21st Century
Experiential learning is highly effective, and the science of education is still not fully understood. A Fortune study revealed that VR training had an 80% knowledge retention rate a year later, while traditional AV training only had 20% retention. This disparity in knowledge retention between traditional AV and VR training could have a significant impact on the workforce and the economy.
Video Conference Education a Band-Aid
Virtual education during the pandemic was not popular. Although video conferencing filled the gap, it is far from an adequate solution for experiential learning. Virtual reality could provide students with more immersive and experiential learning opportunities, boosting knowledge retention and making education more effective.
Increased Career Opportunities
The metaverse's growth could lead to an increase in job opportunities in different sectors, including tech, design, and content creation. New job opportunities in the metaverse could create a new job market, with a potential economic impact.
The metaverse offers more immersive experiences and opportunities than the internet or smartphones can provide. As wearable technology becomes more affordable, virtual reality could be the new way to access the internet. Education, social media, and job markets are all set to transform in the metaverse. Therefore, it is crucial to start getting ready for the metaverse now.