Metaverse… NFTs… Web 3.0…
All of these things seem like a trend that we kind of got used to hearing back in April, yet we weren’t even paying attention to it by May.
And of course, why should we? After all, you are looking at an ‘asset’ that is in development and still has no utility whatsoever.
But do you know who contradicts your opinion? Mark Zuckerberg and his $100 billion investment in the metaverse over the last few years.
Clowning on the metaverse is indeed fun right now. After all, it seems like a concept that’s far from reality. In a country that’s still struggling to popularize 4G in most parts, how can we dive into the metaverse and augmented reality, right?
But there’s a plan at play here, something that all of us have been overlooking for a while now.
The plan with the metaverse
You see all of us own smartphones. Some of us even own the latest iPhone or Google models that are considered the best in the market right now.
However, when you take a look at the fundamentals of a smartphone, every upgrade is limited to either a better performance, a better camera, or a better battery. That’s where it peaks. The use of these devices for work purposes isn’t exactly ideal. Hence desktops and laptops.
You see these desktops and laptops are also trying their best to get handy. Somebody that needs multiple workspaces, they have to purchase multiple desktops, which is an extra cost, not to mention the space it takes up.
But when you eliminate the need for a phone or a desktop, you have a small device that can do it all for you. This device is considered to be an oculus for now.
Understanding the metaverse
The phone or computer that you are reading this newsletter on right now is a mere device, a piece of hardware. But how you can use this hardware is by having an operating system within, a software.
Oculus is your hardware too while the metaverse is your operating system.
Now, this operating system is what is in development right now.
The economics
When a company spends a million dollars on something, it’s more of an experiment. When a tech veteran like Mark Zuckerberg spends $100 billion on the development of the metaverse, you need to know that something’s up. Something big is in motion.
“But have you seen how pathetic and tacky these devices and the metaverse look now?”
True.
But do you remember the first iPhone ever?
Sure it was a touchscreen phone, but it looked so alienated.
Fast forward to now, Apple is the largest tech company in the world.
When metaverse gets introduced properly, the first few variants won’t make sense, especially to critiques. But with further developments, there seems to be something in the store, something all of us might have to adopt in the coming years.
For now, sure the meta stocks might not look the best. But who knows how huge they are going to grow in the future?
Till then, you can stay updated with us at MoneyIsle to stay up to date with the latest fintech information and updates.
