So, what are the other obstacles that stand in the way of the Metaverse?
After discussing the elusive meaning of the term “Metaverse” and reviewing four barriers hindering its development, allow me to guide you through four more challenges the Metaverse faces.
Time & Space
The Metaverse brings up one of the most fundamental questions: how will time be incorporated into the Metaverse? Assuming we will be able to travel through the Metaverse in seconds, time zones might seem somewhat useless. Moreover, if a unified time is adopted across the Metaverse, different countries around the globe will experience diverse time gaps between their real-world clocks and the Metaverse clock, potentially causing a lot of confusion.
Metaverse Clock
Apart from establishing a Metaverse clock, time perception can differ significantly between the real world and the virtual environment. Specifically, studies indicate that users tend to perceive time less accurately while immersed in virtual reality. Given the potential for a distorted sense of time, it is crucial to develop mechanisms that keep users synchronized with the real world.
Another aspect to consider is space. Given that the Metaverse is expected to offer infinite space, it might initially overwhelm users trying to navigate this new world. Both time and space perception in the Metaverse will necessitate guidance, especially during the early stages, to ensure users remain aware and comfortable within the virtual environment.
Health Concerns
A “VR hangover” is a well-known phenomenon, and some individuals experience post-VR sadness. It is understandable that returning to the real world after immersing oneself in a vibrant, virtual environment can evoke feelings of emptiness and sadness. The deeper the divide between reality and the virtual world, the more challenging the transition back to reality can be.
Moreover, internet and gaming addiction are already significant issues globally. Becoming engrossed in the Metaverse and spending considerable time there could exacerbate these problems in the future.
Ownership & Property
While we don’t fully grasp the future Metaverse’s nature, it is certain that a market will exist. In this future space, individuals will have opportunities to purchase and own various items and assets.
NFTs (Non-Fungible Tokens) have garnered significant attention over the past two years, drawing more investors and users to digital assets and tokens. This sector faces a regulatory void, with no entity or ecosystem overseeing NFT matters. Consequently, it is imperative for the future Metaverse to establish a unified system to regulate virtual asset ownership.
Usage & Ease of Use
The Metaverse’s value to users hinges on the worth they assign to their experiences within it — whether they find it worthwhile to invest time and money in engaging with its content and community. Given the current high setup costs and the inconvenience of AR/VR equipment, Metaverse usage is confined to a small segment of consumers. To broaden the user base, content created in Metaverse must become more appealing to consumers.
The future Metaverse presents both challenges and opportunities. It is vitally important to ensure that the Metaverse complements, rather than replaces, our real world. Above all, we must prioritize safety and security in this expansive new universe, addressing these concerns collectively as a community of Metaverse operators.
To sum up, these eight challenges pose serious difficulties for Metaverse’s foundation. Each issue requires careful consideration to realize the Metaverse’s full potential for everyone. While we have a long journey ahead to create a space as magnificent as Spielberg’s “Oasis,” addressing these challenges will bring us closer to making the Metaverse as real as possible.
Stay tuned for next week when we will discuss why the Metaverse’s launch is inevitable.
More than welcome to share and be sure to stay tuned,
Yigal