Studies and investments in metaverse technologies are gaining momentum, especially after Facebook changed its company to Meta and drew a new path for the future of the company. Considering that Nike created NIKELAND in the Roblox game, more and more international companies are shifting to this new reality.
Well, how much do we know about this metaverse? What are the advantages or is there anything that we need to worry about? We have consulted angel investor and entrepreneur Irfan Coban, founder of ICOB Technology LLC.
Metaverse Is the New Reality of Future
When we asked what he was thinking about the metaverse concept, Coban noted that “Metaverse will bring together new emerging technologies and add meaning to them. As a result, it is going to be the new reality of the future. Just like social media dominated our social behavior, the metaverse will dominate our reality.
For example, cryptocurrencies can be the main currency in this virtual universe. Similarly, people want to customize their avatars in these virtual universes. We all want to be appreciated by others. This is why men shave every morning and women wear makeup.
We also modify our cars, do our hair, purchase the latest smartphones, wear the best clothes. These are all a way of expressing and we are going to do the same in the metaverse.
As people get used to the metaverse, our assets in this universe will be just as important and valuable as what we have in real life.
As more and more companies will start to take part in this universe, we are going to have a hard time distinguishing that digital universe from the real. In this regard, one of the recent technologies, NFT, will guarantee that what we get in this virtual world belongs to us.
Virtual Reality and Augmented Reality Investments Will Boom
Coban also noted that virtual reality and augmented reality will be the main technologies in the development and future of the metaverse. As an angel investor, I already shifted my focus and mindset to these technologies.
As far as I see, many angel investors and entrepreneurs also have an increasing interest in these areas. I cannot blame them; they have a point.
We should not forget that you do not have to completely disconnect from the real world for the metaverse. In this regard, augmented reality will have great importance. Soon, people can learn plenty of information through their augmented reality-supported virtual glasses while they are visiting a tourist attraction in Italy.
The number of museums that offer virtual reality tours is increasing every passing day. Italy is the leading country in this respect, and we can expect more adoptions in the near future. Moreover, these augmented reality-supported virtual glasses can also provide information about traffic and pollution. In this way, they can easily become indispensable parts of our lives.
“Early Birds Will Get the Largest Share in Metaverse”
Coban also provided detailed information about our current standing in metaverse technologies. He noted, “Although the metaverse has already become a thing, it is safe to say that these are just baby steps. Just like all innovations, early birds will get the largest share in Metaverse.
Today, many technology giants such as Google and Facebook want to realize the metaverse. However, we still lack some of the technological capabilities to make this possible.
In my opinion, it will take at least a decade to build the required infrastructure and computing power to reach the true potential of the metaverse.
Today, the virtual reality industry is significantly small compared to the smartphone and computer industries. It will take some time for the virtual reality industry to catch up with these industries in terms of experience and market size.
Besides, virtual reality and augmented reality technologies must be stylish enough to attract more people’s attention. They also need to be offered at minimum costs. Unfortunately, we have not reached this point yet.
On the other hand, the COVID-19 pandemic can be an advantage for new emerging metaverse technologies. People are living an isolated life for almost two years and most of them are craving social interaction.
Without a doubt, the recent investments accelerate the process, and we may truly experience the metaverse sooner than I predict. Investors and entrepreneurs willing to make a quick profit should shift their focus on these industries.
People were hesitant to invest in cryptocurrencies a decade ago but today, they all feel nothing but regret. I personally believe that metaverse will have a similar course. If you do not want to feel regret for a second time, investors must learn from their mistakes.