Why Metaverse Failed

Why Metaverse Failed

By Ticktalker | ticktalker'sblog | 28 Oct 2023


fuyez vos problèmes, the french word for run away from your problems. 

 

That is what most people want to do, with so much of life's trouble weighing on them, this lead to the development of something adventurous, the metaverse.

What is the metaverse 

A place where anyone can decide to be anything and interact with other people in a virtual word.

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The metaverse refers to a highly immersive virtual world that is supposed to be in the forefront of the decentralized internet (web3). 

The Metaverse came with a lot of hype and promises some of which promised to revolutionize business, entertainment, education and social interaction by enabling users to interact with each other and with digital content in a more realistic and engaging way.

 

But two years down the line, the metaverse is yet to pick up the pace and here we are going to be revealing some reasons why.

 

Metaverse in it's core will enable users to interact with each other and with digital content in a more realistic and engaging way, using technologies like virtual reality (VR), augmented reality (AR), artificial intelligence (AI) and blockchain. 

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Metaverse promised to create a shift in the way we create, see and monetize content.

It promised to allow creators create 3d content with haptic feedback and even spatial audio and deliver these to the viewers using augmented reality (AR) and virtual reality (VR) headsets. It also promised rewards in form of digital tokens and NFT's for creators.

Reasons for slow pace of metaverse

 

 1. No unified platform:

there are several platforms that offer metaverse experiences, with the largest being Roblox, some other companies are still competing for a fair share of the market one of which is Facebook parent company meta.

 

All these platforms are not bridgeable (interoperable), if you have people in a different metaverse you can take all your experiences and collections from one platform into the other to interact with your people in the other platform.

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This is one of the biggest challenge of the metaverse, but there is hope that with layer zero and Blockchain bridges, this would be solved.

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2. Costly equipments:

Second reason low adoption is the high cost of equipments and materials needed to land you in the virtual reality. 

In some metaverse platforms, you need to buy NFT, aside that you need VR headset, haptic suits, 3d scanners cameras. These equipments do not come cheap. Apple announced it VR headset to come at a starting price of $3499. This looks very expensive for the average and low income earners which are more than 80% of the world population. 

The cheapest one you can get is sold for $299 which is still fairly expensive.

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3. Difficulty of crafting engaging content: 

Creating content on the metaverse platforms spans beyond just picking up your phone and using the selfie camera to make video or typing a blog post. 

 

You have to ensure your content has the immersive reality feel and is still captivating with 3d modelling.

Conclusion 

So with all these pointers, does metaverse still have a potential future?

Well in my humble opinion. It does.

As with every new technology, it is bound to face challenges, and thes particular set of challenges os not unique to the metaverse alone but also applies to Blockchain. As more development come up in the blockchain sector, it will also make advancement in the metaverse. 

 

What do you think ?

Will metaverse be in the future?

How do you rate this article?

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Ticktalker
Ticktalker Verified Member

I am a comic relief content creator and web3 enthusiast, I write contents to share things I learn and research about.


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