What is the Metaverse?
If you’re curious about the concept of virtual reality and augmented reality, you’ve probably heard of the Metaverse. This network of 3D virtual worlds is a hypothetical iteration of the internet. Augmented reality and virtual reality headsets facilitate access to the metaverse, a network of virtual worlds that focuses on social interaction.
Creating your own virtual reality world using computer-generated images is an exciting prospect, but it will require a significant investment in VR headsets. The metaverse, which connects the virtual worlds, is a relatively recent development, and it could be a key component of the future of the internet. But even without a headset, large portions of the metaverse will be accessible to anyone using an internet-connected device. The future of VR is uncertain, but Facebook’s metaverse could make it more accessible to everyone and less of an exclusive niche product.
While VR is an essential ingredient in the recipe for a metaverse, there are concerns about the cost and accessibility of such a platform. Many believe that Facebook, which is now renamed as Meta, will dominate the hardware market for accessing the metaverse. This is a risk, as Facebook has carved the way for online communication. Similarly, companies like Microsoft and Apple may dominate the virtual entertainment market, but the metaverse must remain open and decentralized.
When you use online virtual worlds, you run the risk of being hacked. These hackers can make your avatar look and sound like someone else. There are also risks of self-esteem issues. Here are some common risks you’ll encounter.
Cybersecurity
The emergence of blockchain technology in the metaverse has opened the door to a new world of cybersecurity challenges. Blockchain lacks a centralized administration, moderator, or regulatory authority and despite the numerous benefits of the metaverse, it is a target for cyber criminals.
The ability to connect with a broader network is appealing to cyber criminals, who can use this data to create convincing phishing scams. The metaverse is also a convenient way for bad actors to collect valuable information about users from other channels. Hackers are already attempting to steal non-fungible tokens and sell them under the guise of legitimacy. Cybersecurity issues in the metaverse largely depend on the actions of the users.
The anonymity that is provided by the metaverse can be a linchpin for cybercriminals. Because NFTs are the epicenter of the metaverse’s economy, there is an increased risk of fraudulent NFTs. Malicious smart contracts could steal a person’s identity. Another major risk is invisible-avatar eavesdropping. If malicious actors can find a way to make their presence undetectable, they could infiltrate meetings and listen to business conversations. Cybersquatters take advantage of this anonymity to establish websites that appear to offer legitimate services or use existing business reputations of users to create fake websites.
Furthermore, transactions on the metaverse may not be secure. Companies must implement risk mitigation strategies and safeguard sensitive data, vet third-party providers, and maintain complete visibility of user access. While consensus-based reversal technology is an emerging technology, it still requires careful consideration and adoption. It is imperative that cybersecurity measures be built into the Metaverse’s framework and infrastructure. Cybersecurity platforms and safety models are essential for protecting the privacy of users on the metaverse. The implications of a lack of adequate security and privacy measures can have devastating consequences on consumer experience and the security of the entire metaverse.
Higher workloads
The metaverse is a network of interconnected, 3-D virtual worlds that are similar to the Internet. Users can interact, conduct business, and form social ties with other users. It is the virtual version of today’s Internet. However, the term carries a risk. Being on the metaverse can result in higher workloads for your employees. Here are some of the consequences:
Gamified learning technologies are an obvious way to tap into the potential of the metaverse. PixelMax, for example, has been using gamified technology to train lab technicians. In one experiment, lab technicians break into small groups and go to a virtual PCR testing machine. In each group, the lab technicians go through different learning stages and have their results recorded. This allows them to learn while playing, rather than just sitting in front of a computer.
Intel is in a great position to capitalize on this need for computing power. In December 2021, Intel’s management highlighted the benefits of this new frontier in computing. It may become necessary for Intel to provide the necessary computing power for the metaverse. Hyperscale data centers will be needed to handle inordinate workloads. It is estimated that spending on hyperscale data centers will increase 30% by 2022.
Adverse physical effects
The physical and mental effects of being on the metaverse are raising concerns among its users. According to some reports, users of the virtual world experience symptoms of motion sickness and mental illness. While research on the topic is in its early stages, health experts have expressed concern about the effect of virtual worlds. According to Dr. Susan Persky, head of health communication at the National Human Genome Research Institute, users may experience the physical effects of virtual worlds after spending too much time in them.
The effects of being on the metaverse can be comparable to those of fast-acting and extreme drugs. Some users may even lose track of time and may become accustomed to virtual worlds, failing to acknowledge reality. Similarly, the use of mobile devices may cause users to engage in a virtual world that mimics reality. In fact, the average American spends 5.4 hours per day staring at screens.
Self-esteem issues
The year 2022 is considered the year of the metaverse, and the big players in the web world see this as a gold mine. However, experts are beginning to wonder what psychological impacts this type of virtual environment can have. It is possible to feel better in a virtual world, but what is the risk? Here are some things to keep in mind if you want to avoid the pitfalls of the metaverse.
The metaverse provides a higher level of anonymity. For example, those with self-esteem issues might be less likely to experience negative consequences of their behavior. People who are trans may experience fewer issues if they can present themselves in a way that does not conform to stereotypes. It is important to remember that this type of virtual world will never be completely real. However, the metaverse can help users overcome self-esteem issues that may be hindering them from living their true potential.
Verchool and the Metaverse
Have you considered all the risks of being on the metaverse for your business? Verchool can help.
Verchool is a pioneering Virtual Extended Reality (VER) metaverse development company, spread across five continents and ten global cities, to create, develop, and launch metaverse tech communities, platforms, spaces, studios, and labs for its clients.
Verchool provides corporates, conglomerates, governments and global family offices with exponential growth and competitive advantages via a multitude of VER metaverse technology solutions. These can be integrated with employee or customer engagement digital strategies that will provide additional brand equity, new revenue streams and the creation of new bankable digital assets.
Visit us at www.verchool.com or contact us at info@verchool.com to learn more.
