Meta's commitment to the metaverse remains steadfast, even as the full realization of Mark Zuckerberg's 2021 vision remains years away. That’s because the company has doubled down on virtual reality. Vice President of Metaverse, Vishal Shah, is spearheading this effort to transport users into immersive spaces that break the barriers of the physical world. While the metaverse's ultimate form is still developing, Meta maintains that virtual reality is already impacting daily life and holds immense potential for the future.
In 2014, Meta, then known as Facebook, made a significant bet on virtual reality by acquiring Oculus, a startup company, for $2 billion. This acquisition is indicative of the company’s immense faith in the transformative possibilities that VR can bring. It has the potential to radically change how people relate to machines and one another. Oculus founder Palmer Luckey is all-in on building next-gen VR headset technology, too.
Though he didn’t invent the concept, Mark Zuckerberg painted a pretty persuasive picture of the metaverse back in 2021. He pitched a grander vision, of a future in which users would be able to naturally navigate the immersive content online, shifting from passively watching to actively engaging. Zuckerberg wants the metaverse to be a beautiful space where people can come together. Beyond these changes, it will present brand new and exciting opportunities for collaboration and exploration.
The fundamental idea of the metaverse is allowing users to live within digital media instead of just experiencing it. This change in experience from passive consumption to active engagement is at the heart of why the metaverse is so potentially powerful. Users can potentially interact with digital environments and other users in real-time, fostering a sense of presence and shared experience.
Even though the metaverse is still in its infancy, when it comes to virtual reality technology it’s a case of been there, done that. So far, only about 20 million virtual reality headsets have been sold—and mostly for gaming applications. But no matter how you look at it, this surging adoption rate signals a new era of immersive digital experiences.
Vishal Shah, Meta's Vice President of Metaverse, emphasizes the ways in which virtual reality is already changing people's daily lives. Above all, he underscores the beauty of VR in how it brings people into shared experiences. It’s not important where they’re actually located. These activities could be anything from going to the movies, playing video games, going to a concert or even going to a game.
Mark Zuckerberg envisions a future where individuals can instantly transport themselves to their home space using glasses or a headset. This future would be a state of equity, where the digital and physical worlds no longer separate opportunity. It allows us to move effortlessly between different spaces and sensory worlds.
Vishal Shah, VP of Metaverse at Epic Games, offers a very interesting, inclusive definition of the metaverse. He calls it an antidote to the immutability of the real world. So, for example, he argues that the metaverse offers a chance to transcend the laws of physics and flee your real-world environment. This counterargument, while restrained in its optimism, points to the real potential of the metaverse to grant users new creative freedoms and worlds to explore.
While there’s plenty of excitement about the potential that the metaverse offers, for now, Meta is still losing money on its virtual reality projects. This new financial reality reflects how far down the road Meta’s metaverse vision really is. All of this will require a significant investment in research, development, and infrastructure to make the metaverse a reality.
Elsewhere, Meta continues to portray the development of the metaverse as a long-term initiative. Such a timeline speaks to the profound technological and societal challenges at play in developing what would be a truly pervasive and seamless immersive interconnected digital environment. As with any industry, the full potential of the metaverse can only be realized through continued innovation and refinement.
All of these experiences serve to underscore the unique power of virtual reality, which can transport users to different places and allow them to embody different characters. This new capability creates thrilling new opportunities for transformative experiences. It empowers individuals—their aspirations, dreams, whims—to discover and be whoever, do whatever, go wherever they cannot in real life. Being able to embody a different character opens up specific opportunities for different modes of self-expression and experimentation.
Very few of them, says Vishal Shah, Vice President of Metaverse at Epic Games, are aware just how fast the metaverse is developing. In so doing, he takes stock of the major improvements in VR hardware and software. The increasing demand for immersive experiences is further evidence of this rapid expansion. Though the metaverse itself may still be a few years off, its evolution is moving forward inch by inch.
The promise of the metaverse that Mark Zuckerberg was selling in 2021 hasn’t even scratched the surface. Most of the anticipated tools and functionalities are still in development. Establishing a truly seamless and interconnected metaverse will be no easy task, with plenty of technological and logistical hurdles to clear first.
Meta’s vision for the metaverse is indeed ambitious and expansive. Though the road to achieving this vision will certainly be neither short nor straightforward, the company is dedicated to the journey ahead. It’s time to prioritize inclusion as the metaverse has the potential to change everything about how people connect, communicate, and engage with their physical and virtual environments.
Four major factors are the driving forces behind building the metaverse. Three factors in particular have created a perfect storm — rapid technological advancements, growing user adoption, and shifting social norms. Technology is changing so quickly and more people are trying virtual reality. Consequently, the metaverse will continue to be more immersive, more accessible, and more integrated into our everyday lives.
The promised uses of the metaverse reach well beyond virtual concerts and amusement parks. The metaverse has the potential to be transformative across education, healthcare, commerce, and virtually every other sector. For example, VR might fuel high-stakes training simulations for medical professionals or allow online retailers to establish virtual storefronts.
The ultimate success of the metaverse will depend on how well we address these five major challenges. In doing so, we need to value accessibility, safety and security, and inclusivity. We can’t get the metaverse we want unless we create a metaverse that includes all of us. It must be accessible to all users, regardless of age or mobility. Addressing these challenges will be critical if we are to unlock the metaverse’s maximum potential.
Meta’s massive, ongoing investment in virtual reality is a clear vote of confidence in the long-term potential of the metaverse. The company still has many challenges ahead and much uncertainty. None of that would be possible without the council’s fierce dedication to breaking new ground in the digital space. This tech utopia, known as the metaverse, is a daring new frontier that promises to fundamentally transform how we live, work and communicate.
Like any new technology frontier in development, the creation of the connected metaverse is a shared initiative, with amazing contributions from researchers, developers, creators, and users across the planet. These stakeholders all have a seat at the table to collectively define the future of the metaverse. Together, they can help determine how it will best serve society as a whole. Ongoing collaboration and open innovation will be key to unlocking the full potential of the metaverse.
The metaverse is set to open up swathes of new economic opportunities, allowing people to earn a life—and live a life—in online communities. Virtual economies would open new income streams, such as having residents create and sell virtual goods, offer virtual services, or take part in virtual events. The metaverse would offer more opportunities for entrepreneurs and innovators of all kinds.
Lastly, ethical implications of the metaverse are key. Resolving privacy, security, and content moderation must be paramount. These steps will go a long way toward building a safe and responsible metaverse. Therefore, tackling these ethical implications will be critical for establishing user trust and ensuring an overall successful user experience.
The metaverse is not meant to be a replacement for the physical world. The aspiration is to design a digital world that adds to our offline lives. With it come all sorts of new exciting possibilities for collaboration, connection, creativity – the whole nine yards! Our in-person relationships and responsibilities have to come first, over anything else.
Though the future of the metaverse may still be in question, its possibilities are anything but. As technology continues to evolve and more people embrace virtual reality, the metaverse is likely to become an increasingly important part of our lives. The metaverse has the potential to change the way we connect, communicate, and engage with our communities in entirely new, immersive ways.
