Current Metaverse Platforms Are Losing Their Charm!
When I was a kid, my friends and I would play video games. We'd sit around on the floor in front of the TV, with our hands wrapped around controllers as we played Mario or Contra or whatever other game took our fancy for that month. It was fun, but it was limited: one or max two players at a time could control the game as they saw fit.
Then came along massively multiplayer games like World of Warcraft or Second Life - now everyone could play together at once! We used to play Counter Strike over our college LAN when we were supposed to be doing assignments.
The excitement was palpable - we couldn't wait to get home from school so we could log in and interact with each other as digital avatars inhabiting fantastical worlds and interacting with other users' digital creations.
How Did We Get Metaverse Platforms?
However, before we talk about the current state of metaverse platforms, let’s take a look at how we got here and what it is that drives the industry.
Metaverse is an immersive virtual environment where you can meet other people, create 3D objects and participate in events. Essentially, it’s like a VR version of Second Life or IMVU but on steroids: You are immersed in a full-scale world in which you can roam freely and interact with others while also controlling your avatar’s actions—and even communicate with avatars from different platforms!
The ideas behind metaverse were first presented by Neal Stephenson in his 1992 novel Snow Crash which he followed up with sequels "The Diamond Age: Or A Young Lady's Illustrated Primer" and "Anathem". In this fictional account of our future society, there are multiple layers to reality; one layer is called "the Metaverse" which consists of interconnected computer networks accessible through "avatars." Your avatar allows you to exist virtually as yourself; however, it also means that anyone can impersonate who they want online without consequences because no one knows who anyone else really is outside their avatars' masks. Interesting, right? Neal already saw it coming! xD
Did We Find Our Way?
A metaverse is a virtual world. That's the basic definition. And it's true, but not all that helpful. The word "meta" implies an essential difference in kind, so if you're thinking of a world as being real (the one outside your window) and something as being virtual (your computer screen), then maybe you can see why "metaverse" is such an appealing term for describing this new digital territory we've stumbled upon. In simple terms, metaverse means beyond our universe.
The problem with this approach is that it doesn't tell us whether we're talking about something like Second Life or The Sims Online which are indeed both metaverses or something else entirely: what about World of Warcraft? Skyrim? Grand Theft Auto V? These are also massive multi-user environments where thousands of people interact in shared spaces every day; what makes them different from each other? Can users travel from one universe to the other without compromising their privacy?
Too Many Games, Not Enough Players
I think the biggest problem with metaverse platforms is that there are too many games or experiences and not enough players. The average person knows nothing about this technology and therefore can't be bothered to learn it.
I also think it's too expensive for people who don't really like games or don't have much money (like me). It costs money each frequently just to play these games and enjoy the experiences! Some of them even require special hardware or VR Goggles to play. It's too much work and hassle.
User Acquisition & Retention
User acquisition is a constant struggle for startups, especially when you’re trying to get your product in front of the right people. But with the rise of metaverse platforms like Decentraland and Sandbox, we’re seeing a shift toward democratization and as a result, more options for acquiring users.
The trend is nothing new; it started way back when Facebook opened up to everyone. That was huge for user acquisition because it meant anyone with an internet connection could use the platform, not just those who had been invited by friends or colleagues.
The problem comes when users require more capital, knowledge, time, and resources to increase their earnings and buy game assets. In a bear market such as the current one, everyone is not capable of doing that. Volatility gets them which cuts down a ton of activity on Metverse platforms.
Conclusion
Is "Metaverse" Craze Dead Already? Yes, the craze is gone with the hype. Only a handful of people are left which is the case with all new projects. It's going to take more than just an exciting new technology for metaverse platforms to gain traction in the broader gaming industry. It's is a big concept, but it’s not enough to just have a cool idea. It will take several years for us to get around technologies like virtual reality (VR), augmented reality (AR) and mixed reality (MR). What do you guys think? Comment below!
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I think the concept of Metaverse is here to stay. The most important point for the success of a Metaverse to big successful, it needs to be easy, fun, and have a sense of progress built into it.
I think that too, metaverse is craze dead. No one is ready to put too much of money on gaming like metaverse. The reality is that they create too much of expensive games which makes players to be clueless about which one to play. Instead of creating games people will earn from it and bring a project that will beneficial through gaming world.
I think it's just getting started.
The true concept of Metaverse is one where World of Warcraft, Skyrim, Grand Theft Auto, Sims, Decentraland, Sandbox, etc, can hop between eschother, use and sell items and all other sorts of interactions.
I think of it like this: we use one internet, THE internet. We don't go around asking what internet do you like the best?
One day, I envision more and more platforms interacting with each other so that they are collectively part of THE Metaverse.
We're still early though.
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I think the biggest issue is that the games have not really delivered that much in terms of gameplay. It's fine for turn based games for crypto or metaverse games but the other ones are lacking compared to the games put out by the large gaming companies.
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Yes the bear market has left the Metaverse tech industry a bit down too, despite the same great fundamentals. Let's hope we don't have to wait until 2024 for another pump.
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