Metaverse- A future or fad?
When we flip our eyes through the past, we realize that nothing was created with a blink of eyes. While there may be specific moments when certain technological advancement were created, positioned or occurred but there is no specific time for when the era began. Technological change can never be used in a singular form. It must be accompanied with several technological changes and hence derives its meaning from plural, i.e, technological changes. The era is broader and wider term, which is formed with a combination of innovation, advancement, infrastructure, readiness to adopt, accessibility, affordability, other technological advancement and certain other aspects. Thus, all these criteria do not occur in a day, but it takes a period of time to come to functioning and slowly expands itself in the mind of people. There are three major stages that makes an era happen, 1) Other technological advancement 2) Adoption in different industries 3) Expanding the idea in the mind of people There have been a number of things in the past that were considered to be a fad but worked in an amazing manner. The first example is the invention of the light bulb by Thomas Edison. Henry Morton, did not doubt the invention but he was sceptical that electricity could be carried to long distance and especially to each household. 23 years ago, the news article in Newsweek predicted that the Internet would be a passing fad. It called the Internet as "a wasteland of unfiltered data. You don't know what to ignore and what's worth reading." Another claim was opposing e-commerce. It delivered that e-commerce can never be a success and thus is a fad. But, as we see today, this industry holds a large potential. This market has extracted a huge share out of the physical market and thus pose a threat to them.
In 1902, the New York Times called automobiles with no future and claimed that it can never be that cheap for ordinary people to afford. But it did. Once Henry Ford started with the production of automobiles, it became cheaper and even the most dominant way of transportation. Even when laptops came into being, they were seen with no certain future due to the fact that they have high prices, heavy to carry and low battery life. The New York Times, stood with these claims due to the reasons mentioned above. But as we see complete contrast to that, you might be reading this through your very own laptop that discards all the backdrop mentioned above. Similar is the case with Metaverse. It might seem to many as having no future or in simple terms to be a fad. But Metaverse holds a huge potential. With Facebook changing its name as Meta, it is quiet evident that large stakeholders think of it as having a future. With this, metaverse passes the first stage of investors, infrastructure and early adoption by industries. The later stages are yet to be achieved.
As Marshall McLuhan rightly stated, “Medium is the message”. This means that the medium that carries a message holds an immense level of importance and even influences the message. The right message at the right medium is something that needs to be recognized. For example- The same message delivered through Radio and then television, would create different degrees of impact. In this relation, identifying the right message for the medium would be a great future task for industries. There is a great future of metaverse that lies ahead but identifying the right message for the right medium should be the priority for the booming industry to grab the audience through the new era of changes that have begun in today's world.
Recently, various organisations have realized this and have started to enter the spring so as to reach the higher end. One of the first metaverses of India-LOKA, recently have been approached by various organisations to start with the basics of metaverse and create their identity in this world. One of the successful events that happened recently was Boat
Floatverse, designed by the metaverse startup- LOKA.
Trends like these show that metaverse is expanding itself in the business and organisational sector, which shows positive signs for the future of Metaverse.