Where Will The Metaverse Be in 5 Years?

We asked two cutting-edge Metaverse teams this question VRium Creative Team and Reach XR. The responses come from the people building the Metaverse today. The Metaverse hype says that we will all spend part of our lives within the digitally enhanced environment in the future, and the Metaverse will have a far-reaching effect on our everyday lives. In five years, it’s believed, we will work, shop and play in digitally simulated worlds. So what do the developers of the Metaverse think?

“Well, the Metaverse is just an evolution of the internet. Right now, brands are developing their Metaverse strategies leveraging the various virtual spaces that exist today. What makes a metaverse is the interaction between the virtual spaces, and today, there is barely any interoperability between these virtual spaces. Over the next five years, I expect the acceleration of the brand’s metaverse strategies to increase. And I expect some universal standards to allow for a more seamless experience going from one virtual space to another. In short, as it stands today, there is no metaverse, and in 5 years from now, I expect us to be at the true beginning of this evolution. What we’ve seen is just a teaser for the future.”

BoredApe – Reach XR, Metaverse Consultant

Interoperability is key to moving from the siloed platform to a true Metaverse where users can seamlessly travel through media. One group working on a universal Metaverse is the Metaverse Interoperability Community Group. Working in the same field, Microsoft, Epic Games, Meta, and many other organisations have formed a standards group called The Metaverse Standards Forum.

“I also don’t think (or at least I hope) that larger monopolies like Facebook will have the largest market share and dominate the space. Instead, I think the Metaverse will be a composite of smaller, more independent platforms, each offering a unique experience and functionality. We are, in fact, already seeing that, and I think people are starting to gravitate toward them. What I wouldn’t want to see is an entirely homogenised Metaverse, but rather it is an emergent space, imbued with the idiosyncrasies of its many creators: a place where creative output, as well as being immersive, is no longer beholden to the algorithms of a singular monolithic company that dictates and shapes the way we think, the way we express ourselves and what we create, how we create.”

Hazel -Reach XR, Metaverse Builder

The Metaverse embraces Web3.0 ideology with decentralised ownership and digital assets purchased through NFTs. Decentralised platforms compete for users with Gaming and Corporate owned centralised Metaverses led by Meta and Microsoft.

“The world is witnessing one of the greatest social revolutions of all times – the Metaverse, where the unimaginable comes into life, and the unreal becomes the new reality. Nevertheless, we live in a very primitive period in the Metaverse. We are in the “prehistoric” era of the Metaverse. We know how much we can achieve, yet the technological possibilities are restricted. We can achieve a lot, though. We need to learn how to use our imagination and creativity. Humanity is not yet ready to comprehend the Metaverse’s deepest essence and incredible potential. Eventually, they will all immerse themselves in this second reality. They will have no other choice.”

VRium Shushu, Metaverse Artist

Shushu Added.

“We are the pioneers of this revolution. And we are moving ahead like a rocket. So much is going on that it is hard to imagine what the Metaverse will be. One thing is sure – the technology we have at the moment existed five years ago in military training. And so, I guess they know well what is waiting for us. I believe this technology will become much more accessible, and I predict that at least 10% of the world’s population will exist in the Metaverse. And I know that the technology will allow us to get even more “physical” in VR. I hope new investors learn to open their minds and get the best out of the Metaverse. Sometimes I feel that they want to create a cheap replica of the reality they know in the physical world instead of dreaming about what is impossible in the physical world but is possible in the Metaverse. And finally, will we manage to use the Metaverse to create a better world? I do profoundly and honestly hope so. Yet the truth is: I am not so sure about that.”

Shushu is not alone in pointing to improved technology making the Metaverse more accessible and hopes this new reality will improve the world. Tech leaders such as Elon Musk have pointed to the improvements in interfaces with the Metaverse as key to popularity. Musk highlighted Neurolink, co-founding the company, as the future of Transhumanism (where the brain is hardwired to communicate digitally). Suppose all this sounds like an episode of “Black Mirror”, you are not alone. The Metaverse offers the opportunity to create a new reality full of dreams of idealism or a dystopian nightmare. 

We are literally at the creation of a new world, and we get to write the rules of this simulation. But are we creating a dream within a dream? The idea that we live in a simulated world is widely debated, with astrophysicist Neil deGrasse Tyson placing the chances at 50/50 that we could be virtual beings living in a computer simulation. The Metaverse is the creation of another simulated world. Its rules and its realm are yet to be defined, and where interaction with AI will become a seamless part of life. Only time will tell if the Metaverse is the birth of “The Matrix” or a “Digital Paradise”.