Book: metaverse

Why did I pick this book?

One fine day, I was at Gautam’s place, and suddenly, my eyes caught a new book with an attractive cover. Metaverse was its title. By this time, I knew that Metaverse has been popularised by Mark Zuckerberg by rebranding Facebook to Meta. He also announced that his company will be investing substantially into this new technology called Metaverse. Even though I knew the periphery of the term metaverse, I did not know how to answer if anyone asks me what exactly metaverse is. That is when I decided to read it.

Summary of the Book

Part I

What is Meta verse?

Satya Nadella says – “Meta Verse as a platform will turn the entire world into an app canvas.”

Zuckerberg – “Immersive virtual reality”

Author – “A massively scaled and interoperable network of 3D virtual worlds that can be experienced synchronously and persistently by an effective number of people with an individual sense of presence, with continuity of data.”

It is interesting to note that all the adjectives used in the definition are the difficulties of the metaverse realisation. Physical, legal, and business difficulties are rampant in realising the interactive 3D virtual reality – Metaverse.

One important aspect of the metaverse is the immersive reality where the user interacts with the environment and also the other users. In order to make this possible, the virtual environment has to be rendered parallelly for all users. However, it is difficult to make the real-time rendering of the virtual environment for multi-users seamless. As of 2023, google sheets can be seen lagging when multiple people work on the same sheet. The computing power of the servers is not sufficient to provide low latency multi-user workspace. Even if it can, the individual computer must be powerful enough. This is true, but quantum computing is also in full swing in laboratories. Perhaps it will assist in building the metaverse.

Metaverse as the next internet

This comparison to done to show how important changes metaverse will bring in social activities. In line with what the author says in the earlier chapters, the big changes are not brought by a single company. The Internet revolution was not brought by those companies that produced Internet cables. But by the smartphones. Gaming companies will bring a metaverse revolution. Because these companies have the most powerful technology.

PART II

Bandwidth to accommodate all the users, latency, computing power are asserted to be the major components in making of the metaverse. As of now, various techniques are used to optimise the rendering process and optimally use the computing power. For example, in a game, the user will not see an object if it is obstructed by another. The game developers take this concept, and they do not render the hidden object, thus saving computational power. This is called occlusion. There are other processes mentioned in chapter 6, if you are interested, please go for this.

In addition to the difficulties that are ahead of the Metaverse development, the author opines that companies are going to launch their own total networks. That means not only producing a gadget for a particular service, but also all the interconnected materials, including the internet, and interoperable devices.

-Facebook is planning to launch its own smartwatch, with its own wireless data plan, cameras, which are detachable and integrated with other devices.

Outside the purview of this book, Zukerberg asserts that the most important activity for internet companies and Meta is to take the internet to everyone. He also asserts that internet provides itself as an alternative to people when they do not have access to quality education, health, and opportunity. Further, states are moving towards multilateral agreements or cyber norms. Thus, the argument made by the author of the book under review is acceptable.

Wearable devices are getting smaller

Facebook’s Google contact lens, which discovers diabetics and monitors their sugar levels, Elon Musk’s Nuralink, which impacts 4-6 micrometres think chip into the skin. I think the pharma industries are investing a good number into these technologies. It is also possible that pharma+silion Valley companies become the next big thing in the global business.

Hardware required

1. Primary computing devices

2. Supporting computing devices (PC, PlayStation)

3. Tertiary devices (smart watches or tracking devices)

Payment Rail

The central battleground and the largest impediment for Meta is payment rail. In 2021 consumers spent $50 billion on digital only video games and nearly $100 billion more on in game purchases. GDP of the virtual world has quintupled from 2005 even after adjusting to the inflation. The in-app purchases are at the consumer level, the platform payments are also for the businesses. Some examples are direct sales of games on PlayStation or Nintendo, game launchers that manage updates. All the platform payments on b2b level are charged 30%. This appears to be a general practice.

In general payment rails charge maximum up to 5% but Meta could charge as much as 30%. Of course, the economic activity might be different and so the business.

Next Drivers of Growth

Teaching will be enhanced and one teacher can guide many students using the metaverse. Other areas where metaverse can be used is dating, meditation with sensors, entertainment, fashion, e commerce.

Trust matters

Regardless of who controls or develops metaverse, as the data is going to be in the servers of a few, trust plays an important role. The war is between decentralisation and centralisation. This can also be observed in digital geopolitics, China on one side and the EU on the other.

Metaverse Existence

Meta-verse can increase government surveillance. It can also aid in misinformation and election tampering.

Policy to restrict screen time: CCP began cracking down of its domestic gaming companies not long after Tencent unveiled its vision to invest in hyperreality. Minors were prohibited video games from Monday to Thursday. During the other days, they can play for one hour 8 PM to 9 PM. Companies can use facial recognition software and national id to enact the rules by design.

Conclusion

“Technology frequently produces surprises that no one predicts. But the biggest and most fantastical developments are often anticipated decades in advance.”

“The overall structure of the Metaverse is likely to be similar to those we see today – a handful of horizontally and vertically integrated companies will control a substantial share of the digital economy, with their influence even greater.”

If someone asks when the metaverse will come into reality, the answer is not available. As technological advancements are not sprouted from a single place and single discipline, it is impossible to predict the next big change. Till now the predictions related to the internet and other digital technologies are vague. Thus, it is difficult to say what metaverse life would look like. This is where the author says that we need to define metaverse.

We have the knowledge of the technologies that are used to create the metaverse, so it is the responsibility of us. Here, I take this as the responsibility of the stakeholders and the representatives. They are civil societies, companies, and state to name a few.

What are the things you like in this book?

1. I went for this book for basic understanding of Metaverse. Even though it is more technical and complex, it offered me a definition which I can share with others. Also, it makes me look knowledgeable when I discuss Metaverse with others.

2. Its analysis that the prediction of meta-verse and its nature is in the hands of stakeholders is good. I subscribe to such analysis and perspective. It is a social construction of the technology.

How does it help in understanding the society?

This book does help society. First of all, it provides a definition and a strong understanding of the much-discussed topic – Metaverse. Clarity on what entails metaverse will help businesses to take appropriate steps in making its strategy, and for all individuals, it provides knowledge with which they can make informed decisions.

Will you recommend this book?

Yes, I recommend this book to all tech enthusiasts. However, it will be a better read for those who have a little knowledge about the gaming industry. For others, it will be a complex reading.