The term metaverse was put before many ordinary people in Turkey alongside other trending words like “rent.” As a natural consequence of the interest in rent in the country, the term metaverse and rising land were banded together by opportunists and became some of the most sought-after words.
Let us set these discussions aside and look closely at the full and empty sides of the glass while seeking answers to questions that perplex our minds when it comes to this idea of a shared virtual platform, which people can access through different devices and where they can move through digital environments.
On the empty side, a wave was created consciously and unconsciously, while on the full side, the coronavirus increased the prevalence of digital life.
However, just because the steps seem right doesn’t mean that the place where you jump will be right.
Let us look at the full side of the glass first.
Thanks to the pandemic, people got their first experience of remote working, distance learning, video calling, mobile payment and selling via e-commerce.
Especially for those focused on technology, the concept of Web 3.0, the third generation of the internet, was beckoning.
Over 200 operators are using the 5G network in the world, there are more than 1,200 5G-compatible devices, and 5G usage scenarios continue to increase. Fiber infrastructure has also become widespread.
In other words, digitization is preparing the internet infrastructure for the data world of the future. Moreover, due to the pandemic, we had millions of self-confident programmers and cryptocurrency enthusiasts wondering about blockchain and crypto coins.
The cryptocurrencies found more investors than ever before for the first time during the pandemic. So, an appropriate groundwork has been achieved in the digital world, enough to create the metaverse wave.
The use of digital trade, digital education, digital office and digital money all boomed, paving the way for a proper climate for the metaverse.
The term can refer to digital spaces that are made more lifelike via the use of virtual reality (VR) or augmented reality (AR).
How did the balloon burst?
For this, let’s look at the echo chambers of the digital world. Those who are part of the tech world love to pump each other up. Facebook and Google in particular seem to have an unwritten agreement.
The term “metaverse” first came forward on Facebook, then on Instagram and its stories, before exuberating on other platforms such as Google and Twitter.
The word continued to be exaggerated in the echo chamber of the digital world, namely Google Trends.
What grows here is not reputation, but the marketable value of the term. Regardless of whether the concept is abundant or not, what becomes important is the monetary power behind it.
Here is the most striking example of recent history: The metaverse.
Many of the most prominent brands are offering services and/or are making sales over the metaverse. But why are they making these investments?
Here is an inside peek at the wave-by-wave metaverse concept.
Facebook Meta Wave: Everything started when Facebook announced in October it was rebranding itself and changing its name to Meta Platforms to signal its focus on the metaverse, which it thinks will be mobile internet’s successor.
The concept could be more than a decade away from being fully realized, and Facebook may have had thought of the move for the longer term but brought it forward after coming under fire from regulators and lawmakers over its business practices.
While saying this, my most important argument of this point is the absence of any service and products under the communication project since the announcement. It has been stressing digital twin, augmented and virtual reality, but there has not been any noteworthy product or service yet.
Meta and its fellows: Press releases started pouring in the first week of October. After Facebook pressed the button, all its business partners collectively started sending metaverse newsletters in the country they operate in.
Even startups developing virtual reality and augmented reality applications instantly started defining themselves as metaverse platforms. The value of the word metaverse increased on meta platforms.
SEO monsters on duty: The fact that the word metaverse attracted attention caused search engine optimization (SEO), that is, news sites that are hunting for online traffic, to take action.
All of them started entering metaverse news of Facebook business partners. And there were no institutions left that did not send a metaverse newsletter.
Spread to all sectors: The fear of missing out on something spread beyond the sector. The fact that the word entered Google Trends caused the brands’ digital marketing teams to catch the line.
This made banks, electronic goods makers and politicians pursue the concept that has been so widely sought after in Turkey.
After all, no one cares if the end of that line is empty or full. Yet, every institution spends its precious time on a hollow grip. Thus, the metaverse effect has also spread outside the technology sector.
Catch the wave
When we look at it together with the data, everyone is trying to grab a share of the wave.
Although the lion’s share belongs to Facebook, everyone wants to say, “I didn’t miss it” and “I didn’t miss it this time” in their predictions for the future.
Here’s where this wave we are riding will take us. Sometimes we see that an entire industry wants to believe a lie around an empty concept. However, it is certain that reputation is not measured by Google Trends or Google Analytics.
Of course, Facebook does not own the metaverse concept. It seems that the concept will be filled with more corporate applications.
Metaverse’s cost for meta
The bubble was not the only thing that was created. The hollow communication as well comes with a price. And this is reflected in the time-based chart of the situation on the stock market.
After all, it is imperative that the company finds a bright product or partner in the summer. It seems that the historical loss that it suffered on March 3 will become permanent.
The giant technology institutions are looking to the future to continue increasing the richness of personal data they have and to overcome communication crises.
While trying to be up to date, it would be best for you to create your own agenda without getting stuck in six- or 45-second-long stories.