Economics of Metaverse: A Game-Changer Or Just Another USD100 Billion Passing Fancy

Reminiscing on the digital revolution which transformed the tech industry, it is not early to say that the metaverse will usher in a plethora of opportunities. Estimates predict a landslide victory for the metaverse which will rake in more than 3 trillion USD by 2031. “Metaverse continuum” is slated to be the next buzzword in the industry encompassing the digital world et al.

However, the going-for metaverse is not without its share of pitfalls. Data privacy is one such roadblock where the metaverse- a virtual world where people as avatars, a coined term in metaverse terminology, can jump into the fray with no hold-barred situation. This needs huge data tranches, extensive data clusters, and ownership details. 

Privacy details have to be upped on the run which could expose the user data points in the bargain. For eg: Blockchain technology with non-fungible tokens (NFT), which narrates to mass adoption of the metaverse across the industry spectrum. In simpler terms, AR and VR technologies on a veritable platform called Metaverse to cradle the interactive, immersive and collaborative 3D world. So real-world experiences translate into a virtual world where mixed reality and finally AR (augmented reality) stake their claim. 

Its immersive, irreversible and boundless nature puts to test new-found technologies such as AR and VR on an endless platform called Metaverse. Furthermore, 5G connectivity has transitioned into Metaverse a reality with lots of promise and relevance, in the tech-intensive world we live in. Since it has dawned on the user that with everything including all transactions, payments, and identifications using multifactor authentication (MFA) and more, there is mindboggling potential lurking amid Metaverse.

The race between Google and Meta to build deceptive AI

Cicero, an AI model named after the roman statesman who had formidable qualities of negotiations, cunningness, and forethought is akin to what the metaverse holds. 

It resembles Diplomacy a game that zeroes in on strategy and killer instincts to win over Europe. This scenario wherein cheating lays credentials with its mastery over the English language, to jump paces ahead of the human brain could signify kaput to tech trends; as this could lay a canvas for bigger cyber scams and introduce deep imposters into the envisioned realm of the metaverse.

Subsea cabling collaboration:

Last year saw the longest subsea cable from Meta (37,000 km) connecting 23 countries come into existence vis a vis the 2 Africa Pearls. It has translated into a mammoth subsea cable system and promises to deliver speedy internet services to almost 3 billion people. It covers countries in Asia, Africa, and Europe. With the installation of this cabling system, fixed-line broadband connectivity will enhance for the better in India.

VIP users are given special privilege:

Meta-special content to VIPs created an unequal system that favored VIPs over common citizens, thus allowing offensive content to remain life for days together.