The Confusion Around the Metaverse

in LeoFinancelast year

We are seeing a lot written about the Metaverse these days. A lot of the articles in the crypto world are saying that we are already in the Metaverse. They use the term in the present tense.

It is not wrong per se. What we have is a situation that is really hard to distinguish since there is no clear definition of the Metaverse. Personally, it seems premature to use the phrase in the present tense although a lot of what we are seeing is certainly going to be standard in that realm.

We are dealing with a concept that is virtual in nature. Many feel that it will be non-controlled. Hence, what Facebook is proposing is NOT the Metaverse.

This realm will more advanced than gaming yet no as much as reality. It will tie all realms together through VR, AR, and holographic technology. We are going to train, learn, socialize, meet, and conduct business on there.

In short, it will be far beyond something that we have considered now.

Virtual Meetings

Many state that the Zoom™ is the Metaverse. The idea that virtual calls certainly comes into play. However, as just explained, it is far beyond it.

One thing we are going to see is more tools provided for the Remote Work shift that is taking place. Here is where Facebook is progressing in a way that will likely catch on.


Teleconferencing is in its infancy. The next generation tools will not only improve the remote work environment, it will also provide some foundation for the Metaverse.

Notice the above picture. This is something that is being developed by Facebook, along with others. Since many companies foresee having at least a portion of their workforce spread out, virtual meetings are going to increase in necessity.

Here we can see that, even in these early stages, the meeting feels more "lifelike" than a Zoom™ call. There is dimension to the room and people can interact in a manner they are accustomed to. We are dealing with 3-D as opposed to 2-D.

Of course, we are also operating using avatars. This is something that will take some getting use to but it is an entry point for the Metaverse. That is going to be a world where people have many different avatars, probably driven by AI for the most part.

Improved Technology

For the Metaverse to be built out, we are going to require much better technology. We came a long way in the last 15 years but nowhere near the level things need to be at.

Graphics are much improved, to the point they are getting near lifelike. That will be needed for avatar management as all these different ones are running around engaging on our behalf.

We also need to see our communication systems advance. There is still too much latency, on average, for things to be even close to what we are going to consider virtually "real".

All of this will take place over the coming decades. Even with NFTs which are going to be an important part of the Metaverse, we see that is in its infancy. A lot more infrastructure is required before we can consider that something significant.

What this means is that we are a long way away from having something that is near useful for the Metaverse. In fact, what we are dealing with is not much advanced from today's Internet. A lot of what is taking place is nothing more than a slight improvement over Second Life™. To truly be near Metaverse, we are going to have to see radical improvements.

We are not there yet.

Gaming Will Drive Things

While the business applications are going to be incredible, the march towards the Metaverse will be driven by gaming. This is too big a market to overlook and it is ripe for disruption.

Gamers are already accustomed to handling in-game currencies as well as digital assets. Thus, the learning curve is a lot lower. They buy weapons, skins, and other assets required for the game. However, all are tied to a particular game since it is a closed system.

The Metaverse will be driven by the opening up of things. NFTs that are universal in nature, ie the value is retained no matter what the game, is going to be a large component. Again, we do not see that today so be on the lookout for it.

Imagine have $100K in @splinterland cards. Upon deciding to stop playing the game, one opts to start on another. Now consider the ability to move that value in a NFT over to the second game. The cards could be "transformed" into something else that is pertinent to that game.

Of course, this too is going to require a great deal more infrastructure. We will need mechanisms that can swap out what is needed from what is held. This is going to require some diverse platforms that concentrate on this issue.

This is just one example of what needs to be done. Hence, if you hear people talking about the Metaverse in the present term, do not buy into it. That is like saying three computer nodes in 1975 were the Internet. While it would not be technically wrong, it was a far cry from anything useful.

The same is true today. Virtual worlds that are in existence are just components for what is to come. We will see a lot more development moving us in the direction of where the Metaverse is truly something to be amazed by.

Nothing today is truly amazing. It is nice progress yet still has a lot of holes to fill. This is going to have to occur over a couple decades.

If you found this article informative, please give an upvote and rehive.

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Each one of us contributing directly or indirectly to the metaverse. Web 3.0 has enabled us to create virtual environments that will be interlinked to each other in the future. People (in their digital avatars) will interact with each other while sitting in a virtual cafe, sipping virtual coffee, and eating virtual energy bars to get enough boost for daily missions. At least this is how I imagined this. 😁

Full 'Ready Player One' vibe.

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When i hear metaverse, the first thing come in mind is Second Life. Users will be able to do almost every thing digitally. This is also alarming especially if environment deteriorates too much and we can't enhale if, Metaverse will be the way only. But that's a bit far for now.

It is a part of the concept, without a doubt. Of course, that is just a piece of it all.

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This is pretty cool, especially this…


I think your point about the third dimension is spot on and very useful to do a whiteboard presentation.
Pretty Cool

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It is moving in that direction. We will see the technology improve. The work from home situation is pushing things in this direction.

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I would love to work from home with peace of mind and also will be able to spend more time with my family

I wonder if there will be places that make transferring of assets much easier. As in they will place some minimum value and allow trades in both directions for games. It just seems like it might be fairly good incase people change games often.

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I am not sure I follow what you are asking.

What do you mean?

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I am saying that a service where someone could liquidate their assets for a set value would be nice. Since people tend to have low attention spans and they move around quite a bit.

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This is something I have been hearing for a long time but never comes to an end. I wish for a metaverse-based chain to happen soon.

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It is a long process and going to keep being that way.

This will take decades to unfold.

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I think that metaverse would make us do more in digital form and its already started. I like the concept that you share which Facebook is working on and this will change the way we work now. Thanks for sharing this learning-ful post.

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I think you can count on a lot more tools coming out of Facebook, Microsoft, and Salesforce over the next couple years. The remote work movement is going to really take off.

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I think in 5 to 10 years in the future we will achieve more than the past 20 years of inversion and open a whole new posibiles

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The cards could be "transformed" into something else that is pertinent to that game.

When talking about the metaverse this aspect is the one everyone overlooks. You will be able to move assets to different games and worlds and I can only imagine what that would mean for the gaming industry.

For example, Hearthstone and Splinterlands could collaborate on an event that would benefit both games and communities. The possibilities are endless imo, we just need to give it time.

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Thanks for this post! I think I just stumbled with this term "metaverse" a week ago either while reading one of your articles or perhaps watching from one of your videos. You mentioned about "Web 3.0, metaverse, and Industrial Revolution 4.0" I actually posted it on my Facebook account as a reply to its question, "what is on your mind?"

Now compiling links on the subject to serve as my future reference.

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Agree with your points, my good sir.

The main thing I don't see, is gaming adopting NFTs in an in-game item way. The problem I see, is regulators are gonna take one look at that concept and go "How is this different from micro-purchases in-game that we've already said are illegal?"

Obviously, not having your legal identity and personal information tied to you wallets helps with protecting consumer privacy, but then that creates an entirely different (and bigger) problem. Children access the internet all day, it's an accepted reality. As far as I know, there are no legitimate ways to prohibit children (especially those under the age of 13) from obtaining cryptocurrencies, obtaining leverage (something you cannot legally do in fiat - at least in the US), and essentially, operating with zero oversight, especially from their parents, who are ultimately responsible for their kids' actions, as their legal guardians.

The gambling issue will need to be resolved before any mass adoption of NFT-infused gaming really catches on, especially in countries that already have pretty lax banking standards.

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