"If one question has dominated debates among marketers this year, it's 'metaverse: snake oil or savior?' Alice Regester, co-founder and chief exec at 33Seconds, cautions against either extreme position as web3 continues to develop. A year ago, Facebook became Meta and offered a new vision of a virtual future. Since that decisive moment, the topic of the metaverse and its role in the next evolutionary phase of the internet, web3, has been a prominent part of the news agenda."
"Like other web3-associated innovations (such as cryptocurrencies or NFTs), the conversation around the metaverse has swung from excitement and curiosity to alarm, confusion and outright cynicism. A virtual world (or worlds) where people regularly interact as avatars: is this the dystopian fever dream of a tech billionaire or an obvious next step in how we spend our time online? As with any big change, there will always be concerns voiced and questions raised."
The metaverse has become a prominent topic since Facebook rebranded as Meta, presenting a virtual future where people interact as avatars. Public reaction has oscillated from excitement to alarm and cynicism, mirroring earlier swings around cryptocurrencies and NFTs. Concerns include data security and potential psychological impacts, and healthy skepticism is warranted. Historical parallels with the early web2 era, such as MySpace's rapid rise and transformation of online communication, suggest that substantial change is possible. The ways people interact, communicate and engage with brands online will evolve, creating both risks and new opportunities that merit realistic assessment rather than polarised dismissal.
Read at The Drum
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