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Is the Metaverse dead?
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While the initial hype surrounding the metaverse seems to have died down, its true dynamic continues to develop through the constant transformation and integration of new technologies. What once began as a vision has now become part of everyday working life. 45% of Germans have already heard of the metaverse and can categorize it.[1] Although the term no longer seems as present as it did at the peak of its popularity in 2022, is the metaverse really dead? In fact, it is currently expanding through the fusion of technologies such as WebXR, AR, VR and AI. The focus is therefore more on the individual components than on the overall concept.
Companies are increasingly recognizing the potential of the metaverse, but many are also sceptical about its future. Will the metaverse endure or is it just a temporary fad? What challenges need to be overcome to realize the full potential of this technology? And how can these obstacles be overcome?
Definition: Metaverse
The Metaverse is a virtual space that adds a third level to the Internet. All immersive technologies are combined in the digital environment. Many interactive functions enable individual exchange and create a bridge between the physical and virtual worlds.
The Metaverse on the Path to Enlightenment
The hype cycle from market research company Gartner is a model that describes the development and acceptance of new technologies. It is not always clear which phase a technical invention or new concept is in, as the boundaries between the phases are blurred. The cycle can serve as a guide; not every product follows these phases exactly. In general, the hype cycle consists of five phases, three of which the metaverse has already gone through:
1.Technological trigger: at first, nobody knew what to do with the term, yet the curiosity is there.
2. Peak of exaggerated expectations: In 2022, the metaverse was one of the top technology trends and the hype was gigantic.
3.Valley of disappointment: You ask yourself how can you use it efficiently and in the long term in your company and gain added value from it?
4.Slope of enlightenment
5. Plateau of productivity
The ongoing development of metaverse technologies and their implementation show that the metaverse is currently on its way from the valley of disappointment to the slope of enlightenment.
Typical characteristics of a technology on the "slope to enlightenment" are :
- Realistic expectations: After the hype, a technology is seen in a more realistic light. In the case of the metaverse, this means more practical assessments of implementation and impact. Companies venture into the virtual world with smaller projects and test their added value.
- Best practice: Successful application examples and user scenarios are shared and accumulate. In the metaverse, this is particularly visible in areas such as entertainment, education, e-commerce and social interaction.
- Improved products: Continuous improvement is being aimed for, here especially in the development of a more advanced platform that integrates multiple technologies such as AR, VR and AI as well as focusing more on user-friendliness.
More equality in the digital space
We are increasingly impressed by the technological developments in the virtual world. However, human needs, abilities and individuality must not be ignored despite all the technology hype. A study shows that 24% of Germans are convinced that the metaverse can promote equality on various levels. The virtual space can overcome physical boundaries. It allows for a fair and balanced exchange.
Accessibility
The metaverse not only enables participation regardless of time and place, but also of geographical origin. Global communities and international exchange can be made possible thanks to the metaverse and create a basis for people from all over the world. Physical distances no longer play a role in virtual space, everyone can participate, everyone can be given a voice! Unlike the conventional Internet, the immersive and emotional component plays an important role here, elevating the exchange to a personal level. But here as well, there is a risk that existing power structures and social inequality will be transferred from the real to the virtual world, creating gaps. To prevent this, appropriate framework conditions must be created to prevent misuse of the technology.
Equal opportunities & fewer prejudices
In the metaverse, people are primarily measured according to their abilities. In this digital environment, more value is placed on creative approaches and ideas. The adaptability of the metaverse breaks down barriers and enables a more inclusive society with more equal opportunities. The potential to reduce prejudice and discrimination lies in the emphasis on digital identities, such as digital twins in the form of avatars that can be customized. Intellect and experience count for more, which leads to more objective assessments and fairer treatment. However, manipulation and abuse cannot be ruled out, which can create new forms of discrimination. Clear structures and guidelines are needed to prevent this.
Centralized vs. Decentralized Metaverse
The future structure of the metaverse still seems to be controversial. Which path the concept will take depends on several components. The discussion as to whether a centralized or decentralized model will prevail is now slowly getting started.
Centralized metaverse | Decentralized metaverse |
| The idea of a centralized metaverse is characterized by a hierarchical structure in which a central entity such as a company controls the platform and the virtual environment. This centralized control brings several advantages, such as a seamless user experience and easy enforcement of rules and regulations. Clear governance ensures a consistent user experience. But this approach also carries risks: The danger of a monopoly with non-transparent structures and potential for abuse is a key problem of this model. | This concept is based on decentralized databases and tokens and focuses on user ownership and control. Users have a greater influence on decisions and developments - the virtual world is shaped by the community. This transparency and security through independent structures leads to a more democratic and fairer digital world. However, decentralization also brings challenges: consistent guidelines and a balanced distribution of power are difficult to scale, which can lead to more complex administration. |
In order to protect the principles and goals of a democratic and fair metaverse, a decentralized structure is the only option. Platforms such as rooom are already pursuing this approach - not only for more transparency and individual user control, but also to create more equality and justice. Nevertheless, this requires some centralized approaches that ensure a consistent and high-quality experience. These guidelines should be democratically adopted and implemented. Associations and organizations such as the Khronos Group and the Metaverse Standards Forum are currently working on such guidelines and standards.
Metaverse Best Practice: successful application in practice
Recruiting & Employer Branding
Using the rooom platform, the Blum Group designed a "metaverse of Apprenticeships" to address the lack of skilled workers and appeal to digitally affine young people. The interactive 3D environment enables potential apprentices to get to know eleven different high-tech professions in a fun and interactive way. The campaign led to 93 new apprentices and 793,754 digital-out-of-home contacts.
E-commerce & digital showrooms for product presentation
The German bicycle manufacturer PUKY has created a virtual showroom with digital 3D twins of its products that customers can project into their real environment to get a more realistic picture of the color and size of the bikes. This showroom simplifies size selection, reduces logistical effort, increases demand and is directly integrated into the online store.
Collaboration & Training
With rooom, Vodafone has developed an innovative coaching and collaboration platform to offer virtual training and workshops across multiple locations. The platform offers various 3D training environments that can be accessed in the browser and in virtual reality. The Metaverse includes interactive features such as personalized avatars, voice chat and virtual whiteboards for brainstorming.
The project led to an expanded training spectrum and increased learning motivation among employees and was successfully presented at the OMR Festival, where it received a high level of interest.
The door to new virtual worlds
is open to you - try it out!
Discover a wide variety of virtual environments and easily customize them yourself with individual content.
Opportunities and Challenges
In a Bitkom study, 18% of the companies questioned currently see the metaverse as an opportunity, while 15% see it as a risk. This divergence can be explained by the current uncertainty of meaningful implementation. Many companies lack the bridge between theoretical benefits and real application. According to Gartner, around 25% of people are expected to spend at least one hour a day in the metaverse by 2026.5 The best practice examples already show how versatile the metaverse is in a wide range of industries. As it develops further, it will continue to expand into numerous other areas over the next few years, such as Industry 4.0. Let's now take a closer look at the opportunities, challenges and how these can be overcome.
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Now is the time to become part of the change!
According to the Bitkom study, most companies currently see the challenges in the fact that the metaverse is not yet sufficiently established and practical applications are missing. But is the metaverse dead? Not at all! The enthusiasm is noticeable. 32% of companies across Germany have already invested in it or plan to do so. The metaverse is a young world and is no longer in its nursery stages; it has developed enormously in the last two years. To establish itself, it needs courageous pioneers and early adopters to explore its potential. Our best practice examples were just a few of the many applications already being used by innovation-driven companies. The widespread happiness of users speaks for the Metaverse's path to enlightenment.
[1] Source: Die Zukunft der Consumer Technology
[2] Source: The Digital Markets Act
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