METAVERSE – The Change to Come - Prometheus IP

March 10, 2022by Avanthi

Everyone must have heard lately about the “Metaverse”, if so, it is something that you will be doing it right from the same place where you are; you will be entering a digital world that looks so real, your brain will not be able to identify whether it is a digital world or reality.

Moreover, the Metaverse, is about to change everything in the coming future.

The term “Metaverse” was first coined in a science Fiction Novel named, Snow Crash, which was published in 1992 in which the author imagines a virtual world, where humans interact with each other in the same virtual world.

The Metaverse has an endless number of possibilities. Just like, how World Wide Web; later the social media apps (Facebook, Instagram, WhatsApp, etc.) have changed the way of interaction across the world; the Metaverse will also change the way we interact in future. With Metaverse, one could host a meeting in a physical representation of their office where each one looks like a digital version of themselves.

Metaverse is something that we are talking about now; but if you have, kids at home who are into gaming, then you must have already seen them playing games that have metaverse-like worlds. Like, Minecraft and Roblox, which are the most downloaded games across the world. These games have their own-metaverse world where kids create block-like games with its own currency. During the pandemic, both have become a huge craze among the kids.

 

Metaverse, is being considered are the next step for the evolution of social interaction. Due to the Covid-19 Pandemic, the communication with each other has become lesser. The Pandemic has compelled the businesses from all sectors to choose digital technologies. Even educational institutions have chosen technologies to enable distance learning due to Pandemic but these kind of technologies have restrictions towards face-to-face interactions. They are restricted only screen-to-screen interactions. But, Metaverse would enable you to be in a virtual office or a lecture hall, and be able to move around the virtual environment and inteact with the participants.

Metaverse, makes you feel, being with your colleagues in the same room. Business, Purchasing, Communication, etc. will take place with Metaverse.

Soon, Metaverse will take over in every aspect and there could be something like- Hanging a painting bought through NFT in your metaverse virtual world. Metaverse is powdered by AI which will help in building relationships which don’t exist in real world. It might sound bizarre at first but are we not used to all the social media now, which sounded bizarre in the beginning. So, even Metaverse would be the same.

But, as we talk about Metaverse, like every social media platform, also has some pros and cons, as well.

 

PROS:

Looking into the pros first, the novel application would revolutionize the way we use and interact with each other.

Innovative Communication: Metaverse, as mentioned earlier, enables face-to-face interaction with each person in virtual world, be it, for office or classroom.

New Opportunities for Business: Marketers can create a digital version of their products and place them in the virtual world so that users can view them easily.

 

CONS:

Advanced Digital Technologies: Metaverse requires additional investments for developing newer technologies. Well, of course, any technology would require the same but Metaverse would require more when it comes to internet availability, accessibility to people around the world, might also require next-generation digital communication tools or gadgetries.

Human Relationship: As social media might enable communication in virtual world, but it will also have effect on the Human relations in current world.

Privacy and Security Issues: There could be lot of controversies with respect to privacy and security, just like the way we have with the existing social media platforms. These platforms collect a lot of personal data that create privacy and security risks.

The Metaverse is an online experience that will allow each other to interact in virtual world. But, how do you assess its effect over the society based on its pros and cons. Well, as I mentioned earlier, every social media platform has pros and cons. It’s all about how we utilize it for our better being.

Avanthi

Avanthi is a Registered Patent Agent with Indian Patent Office. Working as a IP Group Administrator & Business Development professional at Prometheus Patent Services, She deals with clients and helps in coordinating meetings and managing sales growth. Having extreme communication skills and expertise in Intellectual Property, She manages the business relationship with leading IP Attorneys & Illustrators based in US, Europe and Japan. She closely works with some of the Fortune 500 companies in maintaining the IP portfolio.

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