The Immersive Wire

I believe a key issue is that we are not telling the story of the metaverse clearly or well enough. The lack of direction confuses media reports time and time again, as people spin it into a more negative incarnation. (Unhelpfully, the word “metaverse” primarily comes from dystopian novels). Our lack of clarity hurts outside awareness – and perhaps leads to business hesitancy. One survey found that 41% of UK citizens have “no understanding whatsoever” of the metaverse. The same was shown in a YouGov poll in the US. Yes, the survey showed regional differences; twice as many people in China would take part in metaverse experiences compared to Brits and Americans. Yet it still demonstrates that a passive dismissal permeates across the UK and US, and likely beyond the two. Why the cynicism? I cover a few reasons in the newsletter, but what ties them together is a lack of a cohesive narrative. A good story is important in the business world because it maps out where we are going with our work. It’s intangible but important. I’ve seen immersive healthtech companies short-sell their services; some dryly label themselves as “integrated services companies,” rather than pioneers that help companies to save lives. One phrase stays on PowerPoint decks, while the other is more likely to leave a human impact after the meeting. Most importantly, it provides a horizon to build towards. As Mary Bateson said, “the human species thinks in metaphors and learns through stories.” I do not want the metaverse to be packaged into a negative parable. I believe that we need to better tell how the metaverse will develop or grow – or risk its history being shelved in a dusty corner of the library. How we get there is opaque, but I have a story in mind. - Tom Ffiske writes about immersive technologies at the Immersive Wire, a newsletter and website dedicated to all things VR, AR, and the metaverse. His goal is to bring a curated digest of the analysis that matters, helping professionals interested in immersive to reach new heights. https://www.immersivewire.com/

Is the cynicism for the metaverse justified? It is tempting to say yes, and the wider media landscape would agree. The Wall Street Journal discussed the “meh-taverse” as a transitory trend, while The Times talks about “harsh reality” crashing into it. Funding is falling alongside stock values. We are seeing companies who previously labelled themselves as XR companies slap a metaverse sticker on their slide decks – and now AI is slapped on top of that sticker, too. The lights of the metaverse dim darker as virtual streets lose their bustle. I do not share the same views. I believe the fundamental promise of the metaverse remains strong, as we continue the development of spatial technologies. I believe that the internet will become more immersive, collaborative, and impactful over time, and that AI plays a role in shaping its future too. I also believe that the fixation on AI does not detract one from the other; they pair together, and the more established player will continue their hard work to develop the digital future. - Tom Ffiske writes about immersive technologies at the Immersive Wire, a newsletter and website dedicated to all things VR, AR, and the metaverse. His goal is to bring a curated digest of the analysis that matters, helping professionals interested in immersive to reach new heights. https://www.immersivewire.com/

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In this episode, we explore immersive events (such as VRDays Europe, VR Awards, AWE), and think about what the best approaches are when it comes to running them.  If you like to level up your knowledge on the metaverse, VR and AR, then consider subscribing to the highly-praised Immersive Wire newsletter: www.immersivewire.com

Marek Polčák is the Co-Founder of VRgineers. We explore what it takes to build a VR company, and how it has grown over time.