The Metaverse: The Future of the Internet and Its Role in Business
The Metaverse is widely considered to be the future of the internet, especially in the tech scene. However, in the context of the German economy, the term remains largely unfamiliar. According to a recent survey, just over half of the companies (55%) have never heard of the Metaverse. Another 17% have heard the term but do not fully understand it, and 17% can at least provide a general idea of what it means. Only 6% of businesses are confident in their ability to explain the concept of the Metaverse. These findings come from a representative survey conducted among 604 companies with 20 or more employees in Germany, commissioned by the digital association Bitkom.
To bridge this knowledge gap, Bitkom has released the “Guide to the Metaverse”, which offers an overview of the Metaverse, its technologies, applications, business models, and its social impact. “We are at the very beginning of a development that promises great things,” says Dr. Sebastian Klöß, Metaverse expert at Bitkom. “The Metaverse represents the next logical evolution of the internet: a three-dimensional, real-time internet that will always surround us.”
What’s Inside the “Guide to the Metaverse”?
The 84-page guide titled “Ways into the Metaverse” explores several key aspects of the Metaverse, starting with an introduction to the term and its evolution from the early days of the internet to Web 2.0 and the emerging Web3. It delves into the various actors and business models that make up the Metaverse, highlighting its potential applications in diverse sectors, from the workplace and training to production and events.
One of the key highlights of the guide is the exploration of how real products can merge with virtual items using technologies like NFTs (Non-Fungible Tokens), providing new opportunities in virtual marketplaces.
Legal and Societal Implications of the Metaverse
The guide also addresses legal issues surrounding the Metaverse, such as determining which laws apply in an internationally connected virtual world, how virtual goods should be legally valued, and the challenges related to data protection and taxation. Moreover, the societal impact of the Metaverse is discussed, focusing on its potential to provide digital participation opportunities and tackle accessibility challenges for individuals with disabilities.
Future of the Metaverse: Predictions and Insights
As the guide concludes, its authors offer their predictions for the future of the Metaverse, projecting what it may look like in five to ten years. These insights provide valuable perspectives on the direction in which the Metaverse is heading and how it may transform industries, businesses, and societies around the world.