Former Google CEO says we still don't know what the metaverse is. Do you?
Posted: Thu Dec 05, 2024 5:01 am
Erick Bernard
Jul 14, 22 | 6 min read
Metaverse: an undefined concept
Reading time: 5 minutes
I'm going to ask you a question that someone has probably already asked you or that you have even asked yourself in the last few months: What do you know about the metaverse?
If you answer without thinking too much and are pretty sure what it is and all its features, great! You're probably not in the group of 60% of respondents in a recent Axios study who responded that they weren't familiar with the idea of the metaverse . Experts aren't sure what the metaverse is all about either.
Former Google CEO Eric Schmidt has singapore email address
stated that he doesn’t know what the metaverse actually is and its real-world implications. In a talk at the Aspen Ideas Festival in Aspen, Colorado, he stated that “there is no agreement on what the metaverse is,” at least for now.
Also, according to the Axios survey, only 7% of respondents said they are excited about interacting with other people and brands in the virtual world, such as playing games, attending events, traveling, shopping, and creating their own world.
Follow us on the Rock Content LinkedIn page
Metaverse: an undefined concept
Considering the number of possibilities mentioned and the buzz created especially by Facebook (renamed Meta in October 2021), tech lovers should not be excited about the new world that everyone can experience in the current times.
That’s another tough one. The metaverse is seen as a revolution in the digital world and brands like Coca-Cola, Gucci, Disney and JP Morgan have been investing millions (or billions) to ride the VR wave. In January, Microsoft announced plans to acquire gaming company Activision Blizzard , hoping that its expertise would “provide the building blocks for the metaverse.”
Source: Microsoft
That ties in with Schmidt’s view of the first interactions with the metaverse, which he believes will be games and digital currencies. Companies invested more than $500 million in metaverse real estate sales in 2021, but for Schmidt, this will be an investment that will pay off only in the distant future.
The whole concept of the metaverse sounds pretty interesting, when you consider that a whole new world of possibilities is coming to life. However, it's important to note that it's also very intangible, where we interact with things that aren't physically near us or have never existed in the real world.
One of the problems with dealing with intangible things is that some people may not feel 100 percent safe or trustworthy. The numbers in Axios' research may also reflect this. The other point is that the core concept of the metaverse is still a paradox and quite undefined. It's something we can't touch and companies have different approaches to it.
If even the former CEO of one of the largest tech companies on the planet has his doubts, non-experts may be much more confused. Is the metaverse a game? Is it just software? Is it a bunch of artificial intelligence put together? A social network? All of these in one? It's still quite complex to discuss.
Social distancing and the buzz of the metaverse
We have mentioned in this article that the metaverse is not an idea launched in 2021. It has become part of our reality as technology evolves. Second Life , for example, was launched in 2003 with a similar idea. It experienced rapid growth in the early years but eventually became just another virtual space. It did not transform or revolutionize the way we interact online.
Second Life Commercial - Children of Creation (Director's Cut)
When we think about the recent hype surrounding the concept of the metaverse, there is one thing we can look at more deeply: timing. At the end of 2021, we were about to close our second year of the Covid-19 pandemic. In this period, the world went through many transformations very quickly.
Social distancing has caused people and businesses to interact with each other almost exclusively via the internet. Social media usage skyrocketed, as did web conferences and meetings. Facebook was one of the pioneers in bringing the idea of the metaverse to the public and turning it into the buzz it is, leading other companies to dive in as well.
Coincidence or not, the technological environment of 2021 was likely to help people enjoy new forms of virtual interaction. Living through social distancing with new possibilities to interact virtually with others sounded amazing.
As time went on, the world started to go out and return to offices. The main idea behind the metaverse remained and gained more visibility, even in movies, but it was not possible to see a constant evolution in terms of definitions and clarity about what it really is or how it connects to our daily lives.
One hypothesis is that the term and the whole concept of the metaverse emerged without being fully developed , or not clear enough to lend credibility. The pandemic may have given the trend a push as a new form of interaction, rushing it to launch, but things started to return to normal and people were already tired of physical distancing.
The intangible nature of the metaverse, plus the willingness to touch people and things again after social distancing, may help us understand why it hasn't yet become part of so many lives.
The idea of the metaverse needs to be better defined
The idea of creating a new reality, new ways of interacting with people and companies and having so many virtual possibilities sounds incredible! However, since it is something abstract, the entire message and concept must be very well worked out to better illustrate it and bring it closer to the audience.
Time will tell how we will evolve into this new universe, but looking at what we have so far, it is still blurry to see what the future holds. If (hopefully not) we need to go home for longer periods of time, we will be halfway to building new virtual interactions and then, great opportunities for metaverse investors.
In the meantime, we can enjoy the real world after so much time locked up and use the internet to share what we have been experiencing outside.
There is no denying that a new trend brings good opportunities. People and companies that are currently investing in the metaverse have a chance of being ahead of the rest who are still “living real life.” Simply learning and delving deeper into a topic that is gaining relevance but is not yet widely explored is an advantage. However, the greater the investment in an uncertain scenario, the greater the risk.
Several companies invested in Second Life at the time, opening virtual stores, promoting events, selling virtual products and having a constant presence there with their audience.
It was great for brands for a few years, but since the virtual world didn’t last long as a popular platform, we should ask ourselves if the investment was worth it. We can’t say that all current metaverse ideas will fail, but we should look at history to be aware.
The high investments of the big tech players in Metaverse can be a good excuse to make it work and insert it into our routines, as the investments must be worth it. This is another point where time will show what these key players are doing to get the best out of their ROI.
Jul 14, 22 | 6 min read
Metaverse: an undefined concept
Reading time: 5 minutes
I'm going to ask you a question that someone has probably already asked you or that you have even asked yourself in the last few months: What do you know about the metaverse?
If you answer without thinking too much and are pretty sure what it is and all its features, great! You're probably not in the group of 60% of respondents in a recent Axios study who responded that they weren't familiar with the idea of the metaverse . Experts aren't sure what the metaverse is all about either.
Former Google CEO Eric Schmidt has singapore email address
stated that he doesn’t know what the metaverse actually is and its real-world implications. In a talk at the Aspen Ideas Festival in Aspen, Colorado, he stated that “there is no agreement on what the metaverse is,” at least for now.
Also, according to the Axios survey, only 7% of respondents said they are excited about interacting with other people and brands in the virtual world, such as playing games, attending events, traveling, shopping, and creating their own world.
Follow us on the Rock Content LinkedIn page
Metaverse: an undefined concept
Considering the number of possibilities mentioned and the buzz created especially by Facebook (renamed Meta in October 2021), tech lovers should not be excited about the new world that everyone can experience in the current times.
That’s another tough one. The metaverse is seen as a revolution in the digital world and brands like Coca-Cola, Gucci, Disney and JP Morgan have been investing millions (or billions) to ride the VR wave. In January, Microsoft announced plans to acquire gaming company Activision Blizzard , hoping that its expertise would “provide the building blocks for the metaverse.”
Source: Microsoft
That ties in with Schmidt’s view of the first interactions with the metaverse, which he believes will be games and digital currencies. Companies invested more than $500 million in metaverse real estate sales in 2021, but for Schmidt, this will be an investment that will pay off only in the distant future.
The whole concept of the metaverse sounds pretty interesting, when you consider that a whole new world of possibilities is coming to life. However, it's important to note that it's also very intangible, where we interact with things that aren't physically near us or have never existed in the real world.
One of the problems with dealing with intangible things is that some people may not feel 100 percent safe or trustworthy. The numbers in Axios' research may also reflect this. The other point is that the core concept of the metaverse is still a paradox and quite undefined. It's something we can't touch and companies have different approaches to it.
If even the former CEO of one of the largest tech companies on the planet has his doubts, non-experts may be much more confused. Is the metaverse a game? Is it just software? Is it a bunch of artificial intelligence put together? A social network? All of these in one? It's still quite complex to discuss.
Social distancing and the buzz of the metaverse
We have mentioned in this article that the metaverse is not an idea launched in 2021. It has become part of our reality as technology evolves. Second Life , for example, was launched in 2003 with a similar idea. It experienced rapid growth in the early years but eventually became just another virtual space. It did not transform or revolutionize the way we interact online.
Second Life Commercial - Children of Creation (Director's Cut)
When we think about the recent hype surrounding the concept of the metaverse, there is one thing we can look at more deeply: timing. At the end of 2021, we were about to close our second year of the Covid-19 pandemic. In this period, the world went through many transformations very quickly.
Social distancing has caused people and businesses to interact with each other almost exclusively via the internet. Social media usage skyrocketed, as did web conferences and meetings. Facebook was one of the pioneers in bringing the idea of the metaverse to the public and turning it into the buzz it is, leading other companies to dive in as well.
Coincidence or not, the technological environment of 2021 was likely to help people enjoy new forms of virtual interaction. Living through social distancing with new possibilities to interact virtually with others sounded amazing.
As time went on, the world started to go out and return to offices. The main idea behind the metaverse remained and gained more visibility, even in movies, but it was not possible to see a constant evolution in terms of definitions and clarity about what it really is or how it connects to our daily lives.
One hypothesis is that the term and the whole concept of the metaverse emerged without being fully developed , or not clear enough to lend credibility. The pandemic may have given the trend a push as a new form of interaction, rushing it to launch, but things started to return to normal and people were already tired of physical distancing.
The intangible nature of the metaverse, plus the willingness to touch people and things again after social distancing, may help us understand why it hasn't yet become part of so many lives.
The idea of the metaverse needs to be better defined
The idea of creating a new reality, new ways of interacting with people and companies and having so many virtual possibilities sounds incredible! However, since it is something abstract, the entire message and concept must be very well worked out to better illustrate it and bring it closer to the audience.
Time will tell how we will evolve into this new universe, but looking at what we have so far, it is still blurry to see what the future holds. If (hopefully not) we need to go home for longer periods of time, we will be halfway to building new virtual interactions and then, great opportunities for metaverse investors.
In the meantime, we can enjoy the real world after so much time locked up and use the internet to share what we have been experiencing outside.
There is no denying that a new trend brings good opportunities. People and companies that are currently investing in the metaverse have a chance of being ahead of the rest who are still “living real life.” Simply learning and delving deeper into a topic that is gaining relevance but is not yet widely explored is an advantage. However, the greater the investment in an uncertain scenario, the greater the risk.
Several companies invested in Second Life at the time, opening virtual stores, promoting events, selling virtual products and having a constant presence there with their audience.
It was great for brands for a few years, but since the virtual world didn’t last long as a popular platform, we should ask ourselves if the investment was worth it. We can’t say that all current metaverse ideas will fail, but we should look at history to be aware.
The high investments of the big tech players in Metaverse can be a good excuse to make it work and insert it into our routines, as the investments must be worth it. This is another point where time will show what these key players are doing to get the best out of their ROI.