We've come to a very interesting point in the billions of years of the history of the world. Sir Tim Berners-Lee, the inventor of the World Wide Web, have recently said the internet is being used for goals outside his design; however, he once defined the future by saying, “The future will be much more interesting and powerful than the past.” How is this going to come about? That’s what we need to figure out by understanding the general context. How did we end up here?
Let’s briefly draw the framework for this context by going on a journey a few centuries back. Beginning in the 1700s, the atmosphere of change had become a revolution with the advances in energy and electronics in the 1800s. One of the prominent characteristics of this era was that the global population reached billions. In the 1900s, humanity managed to travel beyond Earth and was also introduced to nuclear energy. The late 20th century laid the foundation for the rupture we see today. In order for us to arrive where we are, the walls of the world needed to come down. Hence began globalisation. As per its definition, we entered a period of international consolidation through an exchange of products, ideas, cultures, and worldviews. Computers and the internet were invented. Technology started coming to the foreground. The iPhone revolution in 2007 changed the meaning of the concept of digital as it was soon followed by social media. New screens needed new content, which gave rise to platforms. Then came new technologies such as artificial intelligence, virtual reality, and augmented reality. However, these tended to be “mega-trends” so we didn’t really understand what they were about in the early years. Today, we see these technologies gaining new dimensions, and we’re introduced to new concepts such as Web 3.0, Blockchain, DeFi, NFT, DAO, IoT, Digital Twin, and Teleporting.
My intention in presenting this brief review was this: Everything changes, albeit in time. For us to arrive somewhere, some things need to happen. To give an example, the concept of digital is a reason while social media is an outcome. The world has lived through various times, and what is to come will mean different things for humanity.
METAVERSE FOR THE INDIVIDUAL
So, where does Metaverse fall within this story? In my speeches, I talk about what Metaverse means for technology, commerce, and the user. In this article, I intend to focus entirely on the users, i.e., the individuals. First of all, let's give a general definition. Metaverse is the umbrella concept that includes platforms where you can have an experience that is part real, part virtual. Here’s a simple comparison: You create a digital profile via social media and can express yourself using images, words, and voice via platforms. It’s like posting a story on Instagram or tweeting your thoughts on Twitter. Similar to the way social media encompasses hundreds of companies under its roof, Metaverse represents a general concept, established by a number of companies. For those who wish to learn more about the topic, I recommend watching Mark Zuckerberg’s presentation at Connect 2021.
Now, let’s see what Metaverse means and for whom. In terms of technology, Metaverse is the next big thing, in a way, the future of the internet. Commercially, it means a new economy worth trillions of dollars and an opportunity for leadership. For users, it means augmented lives and new identities, hence needs. Now that the tech world has found its next big thing, we, new users of this technology, will be making a new effort—to differentiate physical life from the virtual. We need to understand this endeavour because we’re in the infancy of a great struggle for humanity. What will happen to people and individuals?
When it comes to individuals, I believe we need to take a more sociological, psychological, and philosophical approach to the matter at hand. What awaits us is not a scenario in which we can “pay $300-400 to buy a virtual headset and to enter this new world, host meetings, watch concerts, and shop via NFTs, before taking off the headset and moving on with our normal lives.” Representing yourself with your avatar instead of your real “self” is a moment of rediscovering oneself. Metaverse is, so to speak, the very thrilling tip of the iceberg for most of us. In actuality, we’re talking about the destructive change of all concepts and systems.
IT’S CERTAIN WE’RE WITNESSING THE BIRTH OF SOMETHING. WHAT REMAINS UNCERTAIN IS WHETHER WHAT AWAITS US IS A DREAM OR A NIGHTMARE?
REDEFINING REALITY
What is reality? This concept needs to be redefined in the current century. Let’s take a look at the terminology of new realities that await us. XR (Extended Reality), AR (Artificial Reality) which comprised XR, VR (Virtual Reality) which came with AR, and MR (Mixed Reality). The question: What will the world look like when all these realities exist simultaneously and everyone is entitled to their own?
The norms of this world are so deeply embedded in our minds that we have a long journey ahead of us before achieving artificial minds. It seems that the concepts of this world will not let us off that easily. Have you ever thought about what will come of concepts such as freedom, identity, citizenship, ethics, and faith? Are we going to be left alone by our anxieties? “Am I beautiful, successful, attractive? Will I get the promotion?” Let’s believe for a second and say that they have, in fact, disappeared. What do you think will replace them? Will our existential struggle gain meaning? What will our lives look like? Are we going to feel lonely? What will happen to our relationships, family ties?
There are a lot of questions to ask. On an individual level, we need to understand the flow, reasons, and results of these events and to prepare ourselves for the future. By 2025, we need to renew and improve our abilities. This is called “reskilling.” The World Economic Forum offers useful information on this topic. Here are some of the new abilities that I find strategically important: self-learning, abstract thinking, creativity, innovation, entrepreneurship, endurance, flexibility. In the future, we will be working for ourselves instead of companies. We need to be equipped enough to bid farewell to everything that is traditional. Otherwise, we will be forced to face the risk of redundancy.
AN OPPORTUNITY TO SHAPE THE FUTURE
Everything that is being discussed and explained today amounts to food for pop-culture. Metaverse will start having a shape as early as the next decade. Currently, it’s what we call an “early market,” that is, on the entry level. Everything is in its initial, foundational stage. There are various layers to it that will develop over time and bear vital importance. One is infrastructure. We need to remember the need for intense efforts to improve fibre infrastructure, satellite communication, data centres, and internet exchange points to achieve the low latency and high data transfer speed required by Metaverse. The most critical topic, following infrastructure, is the need for creators and developers, now more than ever, to establish these virtual universes. Zuckerberg also emphasised this aspect at Connect 2021.
In our hands, we hold the opportunity to design and shape the future. Everything will unfold according to our design at this stage. We need to be aware of this significant fact. Zuckerberg is right in stating that we need more creators and developers; I believe we need more dreamers and innovators. Additionally, we need to preserve the link between technology and humanity. This indicates the rising value of social sciences in the future. Sociologists, psychologists, philosophers—prepare. Tech philosophers may have already started looking for answers to the questions I have asked above. Another thing to remember is the legal aspect of Metaverse, and we need to be making preparations in that field as well. Are we going to have a new social contract? What will happen to our rights? Like everything else, the law needs to be redefined.
Immense responsibility falls on the shoulders of pioneers and innovators during this period. My team and I respond to these rising needs with our products and services. It’s imperative to determine strategies both on a corporate and individual level for the emerging world. Brands and enterprises need to decide on their positioning during individuals’ rediscovery of self. So, what do you think? Do you agree with Sir Tim Berners-Lee in that the future will be much more interesting and powerful than the past?