Last month, I met a friend for the first time since Q2 2019 before Kovid. We celebrated on the terrace of the London West End Restaurant, before the show began in neighboring theaters, around which the patrons ate their steak and fry. With the arrival of new friends, the overwhelmed waiter quickly set up another table to join us, but he slipped off an uneven tile and spilled wine on my pants.
To compete with this solid dose of real-world fun and comedy – the heat of reunion and a bath of cold wine, with salty laundry bills – Metavers will have to work hard to get it. Dip Control of the $ 13 trillion economy that many predict. The current hype about the new market – at least so far – could prove to be an epidemic-related phenomenon.
The $ 13 trillion figure, at the end of this decade, is the high point of the fictitious economic range for a broader definition of metavers, according to a report published this week by Citi Research. The term is increasingly being used to cover all future avenues and to cover every company, organization and individual involved. The manager of a large international investment fund tells me that he likes the idea of Metavers, but is unable to point to a single stock in his portfolio from a company operating in Metavers only.
However, in the eight months since Facebook announced its bet on Metavers, a number of similar predictions have surfaced on fund managers’ desks – including renaming and deleting. Inevitably, when idea-hungry customers ask them how to handle it, stock traders tend to spread the package of corporate names associated with metavers as long as possible and so their reach has become astronomical, almost incomprehensible. . For now, the best bets in terms of investment are companies that work with shovels and pickaxes (that is, handling digital infrastructure and hardware) and theoretically build a platform on which the user base of Metavers will expand to billions. Of the people. The corporate world (especially in Asia with intensity) has met these expectations with grand strategies for metavers, which have so far cost close to zero and have not forced companies to make any commitments.
This scope extension was facilitated by the complexity of defining metavars. Participants excelled when a panel of eminent international experts tried to tackle the challenge at the Global Boardroom, organized by the Financial Times on Tuesday. But they recognize that the basic story – the convergence of physical and digital life – is a mixture of genuine migration of work and the digital world (which is already underway to some extent) and speculative ideas. We’re talking, remember, about an investment theme that allowed JPMorgan to tell investors in January that “the next generation financial company could turn to digital clothing as collateral for mortgages on land and real estate.” Virtual “, otherwise the statement seems complete nonsense.
The Citi report, like its other previous studies, describes Metavers as “a three-dimensional virtual space that interacts with the physical world, and represents a step change from current Internet content, based on the two-dimensional web.” Streaming, gaming and shopping “expressed a narrow view of the platform.
The Internet is clearly on its way to a new phase in which most of what you now think of as “online” will be presented as a virtual world. Some parts of the game, entertainment, and workplace will be the first to transition, but technology will evolve to attract everything else, and ultimately, the risk of staying away from metavers will outweigh the risk for companies to join.
But all this talk of a $ 13 trillion market is a serious matter of time. The concepts of metavers and a specific transition to a new phase of the Internet may have been around for a while, but the really explosive speculation on the subject peaked at a time when the world found the idea uniquely acceptable. Life. In the virtual world.
Facebook’s announcement in October and the events that followed in the months leading up to the epidemic forced a change in the rules of the social world and a change in working life with their digital versions. The possibility of finally getting out of this phase, at that moment, seemed to be in serious danger from the omicron type. Therefore, the moment was particularly conducive to the idea that this forced transition from the real world to digital would be a regular cycle and that millions or even billions of people would be able to logically decide that this virtual world is a haven. .
It is not an inevitable conclusion that the world will be completely free of epidemics, but one of the most distant places to return to normalcy is the memory that the real world – with all its glory and calamities – will always be a fierce rival. For the world. Virtual world
Translated by Paulo Miglia