Chapter 1: Understanding the Metaverse

If you're curious about the Metaverse, welcome to the 21st century, where we construct virtual realms from our living rooms and trade assets that feel tangible yet are digital.

In recent news, it was reported that "Meta Platforms CEO Mark Zuckerberg has experienced a $71 billion decline in his wealth this year, as reported by Bloomberg, noting that 'even amid a challenging year for nearly every tech titan in the U.S., the wealth lost by [Zuckerberg] is particularly notable.' This billionaire's net worth soared to $142 billion in September 2021 when his company's stock peaked at $382, but he has since fallen 14 places in Bloomberg's Billionaire Index. The entire tech sector has faced significant challenges due to economic downturns, with Facebook, which rebranded as Meta in 2021, seeing a 57% drop in stock value this year, compared to lesser declines of 14% for Apple and 29% for Alphabet." — sourced from LinkedIn. Many are quick to label this as a failure of the Metaverse, but can we truly dismiss it?

I believe this is merely a dip in an otherwise upward trajectory, and I will outline four key reasons below:

1. The Testing Phase of the Metaverse: The Metaverse is relatively new, and with the introduction of enhanced VR features, virtual environments, and new creators joining the platform, it continues to evolve. As it generates vast amounts of data, learning from this information takes time. With further investment, the Metaverse is poised to improve and establish new standards in Web 3.0 and VR/AR technologies.
2. Attention Span Challenges: Younger generations, particularly Millennials and Gen Z, are heavily engaged with platforms like Instagram and WhatsApp. The introduction of Reels on Instagram has drastically reduced the attention spans of individuals under 30. Consequently, the Metaverse needs to develop a more impactful approach to address this issue.

4. Captive Audience: Meta boasts the largest number of active users across its three platforms, making it relatively easy for the company to transition this downturn into an upturn swiftly.

The future of the Metaverse is undoubtedly worth the investment, especially as new generations emerge and challenges like COVID-19 persist. The Metaverse is likely to become a significant space for various forms of entertainment, virtual meetings, and social interactions before meeting face-to-face.

I remain hopeful that the Metaverse will flourish over time, ushering in a new technological wave that transforms the traditional societal landscape.

Chapter 2: Exploring the Future of the Metaverse

This video titled "Roblox CEO's Metaverse Expansion Vision" sheds light on the aspirations and plans for the future of the Metaverse, as envisioned by industry leaders.

In this presentation titled "The Metaverse and How We'll Build It Together -- Connect 2021," experts discuss collaborative strategies for building an inclusive and expansive Metaverse.