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Meta is betting on the success of metaverse and is heading to establish the largest virtual space network in the world!

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Many people are confused about virtual reality technology, and despite the proliferation of 3D cinemas that insert the spectator into the framework of events, what happens with virtual reality technology is completely different, as you can almost forget that you are wearing a headset and live in an imaginary world, where you have modern copies. One of this technology is the ability to replace the real reality to completely immerse you in the experience that you are living, which you will not imagine unless you experience it.

Meta is looking to create the largest virtual space network in the world, by harnessing the technologies of Virtual Reality (VR), Augmented Reality (AR) and Mixed Reality (MR).

Given the promising potential of virtual reality technology in the worlds of marketing, gaming, sports and concerts as well as education, and the promise of profits amounting to trillions for the global economy, the company that owns Facebook, Instagram and WhatsApp decided to build the largest virtual space network ever.

metavirs

The term was coined by American novelist Neil Stevenson in his novel “Snow Crash”, where he discusses the idea of ​​humans resorting to living in a virtual anthropomorphic world. Thus it is a term to describe the digital world, which many users can interact with in a 3D environment. The  virtual world  is the future of the Internet, which draws the attention of companies to invest in and develop this field.

How META started its project to launch the largest virtual space network in the world

Statistics show that 26% of teens own a virtual reality headset, but only 5% of them use this technology regularly, and regardless of the cost, this weak participation is mainly due to the lack of enough fun and attractive applications for a small audience, as it is limited in Mostly on industrial and commercial applications.

In terms of gaming with annual revenues of $200 billion which is also a very promising market for virtual reality, only 3% of users on the popular gaming platform Steam own a VR headset, which is where Meta intends to break into.

The company has already opened a store and a showroom to showcase its Quest 2 headset technology, and is preparing to launch a more advanced headset called Project Cambria later in 2022. And because Meta isn’t a hardware company in the first place, the developers confirm opening the door wide to their virtual reality world. With devices from other competing companies such as Google , Apple, and others, the user may not need a headset at some point to enjoy the virtual reality experience, whether in games, education, concerts, or even work.

Quest 2 Headphone Technology Showroom - Virtual Space

Is virtual space just a way to grab money?

Opponents of metaverse technology point out that it’s just a way to get more money into advertisers’ pockets, increase clicks and ad revenue, and that it’s just a business model that sounds all too familiar, referring to the Facebook, Instagram, and other apps.

Meta has already received negative feedback due to the high fees on virtual asset transactions, as Meta intends to charge 47.5% of any transaction made in metaverses, and this percentage includes 30% “hardware platform tax”, and an additional 17.5% in the event of those transactions Inside the company’s Horizon worlds. 

But the company’s analysts confirm that its history speaks of it in the field of major successful transformations, referring to the shift from fixed computers to mobile devices and the emergence of Instagram stories and others, stressing that the real success and integrated use of Metaverse will appear after a few years.

Meta has dedicated about $10 billion to building its virtual space platform, and Mark Zuckerberg says that revenue growth in this project to be profitable enough will be over a very long chain, especially with the losses in the virtual world in the first quarter of 2022 which amounted to $ $2.96 billion compared to losses in the first quarter of 2021, which was $1.83 billion, but the company continues to adopt the project in the hope of achieving another technical leap to be reckoned with.

What do people actually benefit from a virtual reality network?

Many question the importance of virtual reality technology, thinking that it may serve marketers of goods and services only in increasing the temptation of buyers, but as happened in the questioning of the importance of the Internet in the nineties and the feasibility of the mobile phone, the advocates of the technology confirm its huge advantages in various fields, and we even saw the head of global affairs In Meta, Nick Clegg publishes an article asserting that Metaverse is worth the huge investment that Meta is investing in, and that its value in the future will exceed 3 trillion dollars, and it will be like smart phones at the beginning of its spread when no one believed that it would replace laptops one day.

Presence and interaction

The main factor that makes metaverses a successful project with an increase in demand for it is the actual presence and interaction. In the ordinary Internet world, you cannot be visible and present in a holographic form, just like, write a comment or share, but in virtual reality, once you enter it, it is even just Exploration is active and interactive through your avatar, as if you are in a world simulating reality in one of the episodes of the Black Mirror series .

This can be an absolute advantage for marketing professionals, during education, and more, but if you don’t want to be always visible, you may be a little late to embrace this technology.

Remove any geo-restrictions

There are no geographic restrictions within the metavirs, you can visit anywhere at any time, you can work while you are on the other side of the world, and even go to school can be a reality, useful and interactive in the world of metaverses with an integrated sense of belonging and interaction.

Getting rid of the climate crisis

Proponents of virtual reality technology assert that if it spreads effectively and at least half of the people on the globe work, learn, go to parties and watch football through metaverses, this will of course reduce travel and gradually eliminate any energy crisis and get rid of the problem of climate, congestion and others.

Finally, we can only wait and see what the future holds for us. We cannot be certain that metavirus will be the new technical shout, as many assure him, especially since companies did not speak with the same confidence about smartphones at the beginning of their appearance, but it was a surprise to everyone, so let us wait Let’s see if Meta’s virtual network will bear fruit or be the company’s major slip, and a way for Zuckerberg to erase his legacy himself.

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