Metaverse has another shot in the foot – the Observer

Metaverse has another shot in the foot – the Observer

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Mr Zuckerberg’s bombing announcements are nothing new. From time to time another appears, the results of which are reminiscent of the mountain parable that gave birth to the rat. This happened with Facebook Places, Facebook Deals, Messenger Pay, Libra, Dam, WhatsApp Pay and Facebook Pay, just to mention the ones that have the most memory.

Facebook as a platform, in addition to commendable financial results at the expense of ethical behavior, was, and still is, an undeniable success. Because it seems that Mr. Zuckerberg wants to spread his ethics to all elements of our lives, digital or not. Welcome to Metaverse.

Metaverse’s goal is to develop digital technologies in such an attractive way that users will not be able to avoid using them on a daily basis, in all aspects of communication, including social networks, phone calls, meetings, or even That purchase. We’re talking about virtual reality and augmented reality that are part of our daily lives. Will Metaverse make a life mistake for us for a game? Even so, owning one is still beyond the reach of the average person, including Zuckerberg. But then why is she shooting at her own feet?

Facebook has achieved its economic success by taking advantage of the interface between users and businesses, which is why there is always a debate about content control and feedback manipulation. In fact, it is a platform that is willing to do anything to enrich itself at the cost of (almost) advertising, as we are discovering through various whistleblowers, the latest of which is Is viral (Francis Hogan). In fact, the 10 10 billion investment announced in Metaverse for the first year alone reflects its expansion intentions.

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At first glance, Metaverse looks like a new look for Facebook and the like (read Instagram and WhatsApp), which makes sense. This integrative vision may be successful, but it is not a bullet in the foot. Utopia is the way Metaverse wants companies.

The announcement of the new platform was very clear in terms of integration between the virtual world and the real world, which naturally includes companies. Reminiscent of Metaverse, in a fully digital context. Second life (See, probably built on top of NFTs (Non-fungal tokens), Which can represent all types of digital assets. Whether or not this new virtual world is attractive will be decided by consumers. However, there is life beyond the purely digital world. Will real-world companies also be able to communicate through Metaverse, as advertised, using it to support business transactions?

In fact, integration between the virtual and the real world already exists in China in the form of a super app, as in the case of WeChat or AliPay. In these super apps, users can interact with each other, and participate in virtual games. In addition, consumers can negotiate, purchase, and make payments with companies. And most interestingly, we’re talking about all the companies that have an open door in the real world, for example a taxi, a parking lot, buying a newspaper, or a pair of shoes, all with the same application. I. This is actually a very simple communication model compared to the western world, where we have to use different applications to communicate with different companies. From this point of view, Metaverse would be a very significant technological evolution of a concept that has existed in China for almost five years now.

However, super apps are not possible in our economic space, because that would mean, for example, a uniform form of payment, a type of monopoly, across the entire geographical area. Incidentally, monopolies of any kind in Western economies are completely out of the question (enough) Big technologies). Therefore, it is unlikely that the Western world will pass regulations that allow even a super app to be displayed. In fact, Mr. Zuckerberg has been trying to move in that direction with various proposals for the payment system outlined above, but they have all failed. Therefore, it is unlikely that virtual tentacles on Facebook will spread in everyday business with or without Metavers.

So, Metaverse is just a new attempt to get an integration like a super app, but with more convenience. The idea would be to make the pricing proposal so attractive to consumers, that the regulation would also force them to leave Facebook and, in the form of Metaverse, take over the monopoly of communication, thus allowing these transactions. The economy itself, which will be controlled. Will not Well, enough control over the content already used by Facebook. And that’s why Metaverse has a bullet in the foot.

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