Metaverse: The Future of the Internet? | Qatar Economic Forum

Summary

In this discussion, industry experts delve into the burgeoning metaverse, exploring its potential as the future of the internet, underpinned by gaming technology and blockchain. They highlight the metaverse's immersive capabilities, particularly in real estate where virtual walkthroughs can revolutionize property sales. The conversation also touches on challenges like regulation, harassment, and the environmental impact of technology, emphasizing the need for standards and responsible growth as the metaverse evolves.

Takeaways

• 🌐 The metaverse is envisioned as the future of the Internet, integrating video game technology and potentially blockchain on the backend.
• 🏡 Exposure's company is involved in video game commerce, with a presence in popular platforms like Fortnite and Roblox.
• 🔗 The metaverse aims to replicate real-life experiences, including spaces, staff, and people, but in a virtual environment.
• 🏠 Russian is developing an end-to-end sales platform in the metaverse, focusing on property sales and providing immersive experiences for buyers.
• 👁️‍🗨️ The metaverse offers a new way to visualize and interact with property, allowing potential buyers to experience and customize their future homes.
• 📈 There's a current shift in focus from the metaverse to generative AI, with the latter gaining more public and investor interest due to its ease of use.
• 🏎️ The audience's interest in the metaverse leans towards using it for extreme sports experiences, indicating a preference for action and engagement.
• 🛡️ Regulation and safety within the metaverse are important, with discussions on how to mitigate risks such as harassment and disinformation.
• 🌍 The metaverse's growth is tied to advancements in technology, such as 5G and graphical chips, and the need for new standards for cross-platform interaction.
• 💡 The future of the metaverse includes the potential for digital items to interact with the physical world, creating new forms of value and interaction.

Q & A

What is the company Exposure's primary business focus?

Exposure is a company that has created a solution for video game commerce, particularly for platforms like Fortnite and Roblox.

What does the speaker envision for the metaverse in terms of its structure?

The speaker envisions the metaverse as a form of the future Internet, built with video game technology on the frontend and potentially blockchain technology on the backend, featuring virtual environments, items, and characters similar to real-life spaces.

How does the speaker describe the current state of property sales in the metaverse?

The speaker describes the current state as an end-to-end sales platform that allows for immersive experiences, enabling customers to visualize and customize their off-plan homes within the metaverse.

What is the timeframe for the launch of the metaverse sales platform MVP?

The speaker hopes to launch the first MVP of the platform later in the current year, with VR integration expected towards the end of the year or early next year.

How does the speaker view the competition between the metaverse and generative AI in terms of resources and investment?

The speaker believes that generative AI has taken the lead in the short term due to its popularity and ease of use, attracting more public and investor interest. However, the metaverse remains significant for the long term.

What are some of the future use cases the speaker is considering for the metaverse beyond property sales?

The speaker is considering various applications within the metaverse, including sporting events, retail transactions, and customer service.

What is the speaker's perspective on the importance of interoperability between different virtual worlds in the metaverse?

The speaker believes that the moment when users can move from one virtual world to another with their items will be a significant step towards the realization of the metaverse as a new form of the Internet.

How does the speaker address the issue of harassment and disinformation in the metaverse?

The speaker suggests that the same regulations and rules that apply to the current Internet should apply to the metaverse, emphasizing the need for moderation and control.

What are the speaker's thoughts on the environmental impact of new technologies like the metaverse?

The speaker acknowledges the importance of working with technology providers focused on green computing and energy efficiency, as well as considering hosting solutions that minimize waste.

What are the challenges the speaker identifies for the widespread adoption of the metaverse?

The speaker identifies the need for improved connectivity and the establishment of standards for businesses to work together within the metaverse as key challenges for its widespread adoption.

How does the speaker view the current regulations on the metaverse space, and are they sufficient?

The speaker believes that regulations for the metaverse should be similar to those for the Internet, emphasizing the need for proper regulations to address potential issues similar to those found in social networks.