The Metaverse

[Chadstudsky]

Morning gents,

I'm curious to hear your medium to long term thoughts on the Metaverse. Let me preface by saying I'm not much of a tech guy. I play one or two video games a year and I do not own any social media accounts outside of HF and occasionally browsing Reddit.

I recently watched Ready Player One with my wife, and although I didn't read the book yet, it really peaked my curiosity. Although a big part of me (and my wife) says 'no one will ever choose virtual reality over real life', I can't help but think that kids are increasingly living online lives, and the threat of economic collapse, future pandemics, generalized social anxiety among Gen Z etc. may amplify the need to live fulfilling lives online.

To be completely honest, I'm looking for investment opportunities, and META'S recent stock price collapse has pushed me to start the research process, so this is all very preliminary.

It is my understanding that there will be multiple metaverses competing with each other. Google, Microsoft, Meta (facebook), all seem to want to get into the space. META is bleeding money right now, but building something so massive does take a huge amount of investment. I suspect these big players that have the money are going to be the front runners to build something that users will want to join. I also suspect there will be a gaming or MMORPG aspect to it. I also suspect there will be a 18+ or pornographic aspect to it. I suspect blockchain and/or crypto will be a part of it. I read there will be a real estate aspect to it.

This is all confusing to me and my wife thinks no one will choose to spend real dollars to buy digital land, and go to a virtual bar where they can 'hookup' with a 55 year old man pretending to be a 21 year old model. But I also don't understand how my stepdaughter can spend 8 hours a day on tiktok so here we are.

What are your general thoughts on the metaverse? Will the idea succeed? Will it fail? Who are the main players developing something resembling Ready Player One? Will we ever get there? Would you say the metaverse is already here based on how immersive online games are these days? Have you invested in any metaverse focused companies? What do you think the timeline is until we see fully immersive online virtual reality?

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[Dolemite]

Facebook will fail. They have no clue what they’re doing, it’s not moderated, staffed by incompetence, and when a new version of their VR headset is released, the previous version immediately becomes unusable.

 

[Chadstudsky]

Facebook will fail. They have no clue what they’re doing, it’s not moderated, staffed by incompetence, and when a new version of their VR headset is released, the previous version immediately becomes unusable.

You believe Facebook's metaverse will fail, do you think that the concept of a metaverse will as well, or will someone get it right?

 

[Dolemite]

You believe Facebook's metaverse will fail, do you think that the concept of a metaverse will as well, or will someone get it right?

Facebook. People can do whatever they want but if it's not accepted, it's a moot issue.

 

[x Tame Impala]

I listened to Mark Zuckerberg talk about it on Lex Fridman’s podcast. Zuckerberg sounded like an out of touch mad man.

I think if this tech is going to be anything worthwhile we need leaps and bounds of improvements in AR/VR capabilities. If/when that happens then of course Meta verse or something like it will take off. People spend more time in front of a screen than they do sleeping. Humanity would eat up a fake existence where they get to be awesome as opposed to working hard for something real.

I think we’re many years out from this being a world changer however. Many many years.

 

[beowulf]

This is the metaverse that people are paying for fake Gucci clothes etc. This does not interest me in the least bit and I don't think it will interest most people.

Meta to sell virtual clothes for real money as it preps avatars for the metaverse

Facebook owner Meta Platforms is launching a digital clothing store where users can purchase designer outfits for their avatars.

techinformed.com

 

[Chadstudsky]

This is the metaverse that people are paying for fake Gucci clothes etc. This does not interest me in the least bit and I don't think it will interest most people.

Meta to sell virtual clothes for real money as it preps avatars for the metaverse

Facebook owner Meta Platforms is launching a digital clothing store where users can purchase designer outfits for their avatars.

techinformed.com

I thought similarly to you, but then I witnessed my buddy's kid have a freakout because he needed some limited edition 'skin' on fortnite and my buddy wouldn't get it for him. Kids are weird, man.

I think people who are down on their luck may gravitate towards something like the metaverse and find meaning, fulfillment, and buy/experience things they cant afford in real life

I listened to Mark Zuckerberg talk about it on Lex Fridman’s podcast. Zuckerberg sounded like an out of touch mad man.

I think if this tech is going to be anything worthwhile we need leaps and bounds of improvements in AR/VR capabilities. If/when that happens then of course Meta verse or something like it will take off. People spend more time in front of a screen than they do sleeping. Humanity would eat up a fake existence where they get to be awesome as opposed to working hard for something real.

I think we’re many years out from this being a world changer however. Many many years.

Do you know of anyone other than Zuckerberg trying to have a first mover advantage?

 

[Ceremony]

This is the only person you should listen to about the Metaverse:

 

[beowulf]

This is the only person you should listen to about the Metaverse:

Do you still hate Joe Sakic after a Cup win?

 

[Ceremony]

Do you still hate Joe Sakic after a Cup win?

Sometimes I cry myself to sleep thinking about how I would have felt seeing Matthew Duchene lift the Stanley Cup while wearing an Avalanche jersey.

 

[beowulf]

Sometimes I cry myself to sleep thinking about how I would have felt seeing Matthew Duchene lift the Stanley Cup while wearing an Avalanche jersey.

Write a story about it to get it off your mind!

 

[x Tame Impala]

I thought similarly to you, but then I witnessed my buddy's kid have a freakout because he needed some limited edition 'skin' on fortnite and my buddy wouldn't get it for him. Kids are weird, man.

I think people who are down on their luck may gravitate towards something like the metaverse and find meaning, fulfillment, and buy/experience things they cant afford in real life



Do you know of anyone other than Zuckerberg trying to have a first mover advantage?

I think the videogame industry will wedge him out eventually

 

[Dolemite]

You believe Facebook's metaverse will fail, do you think that the concept of a metaverse will as well, or will someone get it right?

Correction. It’s failing.

Meta prepares to layoff thousands of employees this week: WSJ

Meta, whose metaverse arm Reality Labs lost billions of dollars, joins other crypto-focused firms reducing head counts.

www.theblock.co

 

[Gardner McKay]

The Metaverse as a concept will likely not fail entirely, although I doubt it will be the raging success it was once predicted to be.

I think the Metaverse build by META (facebook) will fail horrendously. It is becoming increasingly clear that META as an organization is failing to understand what made them popular in the first place.

 

[Dogewow]

I think one day, in the future, technology may advance far enough to where a Ready Player One type experience is a possibility (in terms of ease of use, accessibility and mechanics). With that said, we are a long ways away from that. Technology would have to make quite the jump in a short period of time for us to see that in the near future.

I've had some fun playing around with my VR headset, but there's also limitations with the experience. Seeing something in VR is cool, but the novelty fades fairly fast after enough hours playing. I've also found the movement and controls to be cumbersome/awkward (at least with the games I've played) and experienced some vertigo and nausea.

META seems to be marketed as not just a linear gaming experience, but also of a world that anyone can explore, "live in" and for professionals to operate and work out of (also lets not forget spend some money ). Right now, there's far too many people who struggle with the lower level technological aspects of their lives for me to think the average person could jump into the Metaverse and find value in it/not struggle with the mechanics. As a gamer, I'm unimpressed with what I've seen so far and do not see why I'd have any motivation to play it, let alone spend money on virtual items/real estate.

It seems like Zuckerberg has become very distant from the average human experience and what people want/are capable of technologically.

 

[Dogewow]

I thought similarly to you, but then I witnessed my buddy's kid have a freakout because he needed some limited edition 'skin' on fortnite and my buddy wouldn't get it for him. Kids are weird, man.

The difference is that people enjoy playing video games like Fortnite and see value in having a cool looking, exclusive skin within that game. It isn't really the skin itself or the fact that its "in a video game" that makes it valuable. It's the context of having the exclusive skin in a game that you care about and have fun with.

Right now there is nothing of interest within the Metaverse to bring you there in the first place, let alone spend money on.

 

[Chadstudsky]

The difference is that people enjoy playing video games like Fortnite and see value in having a cool looking, exclusive skin within that game. It isn't really the skin itself or the fact that its "in a video game" that makes it valuable. It's the context of having the exclusive skin in a game that you care about and have fun with.

Right now there is nothing of interest within the Metaverse to bring you there in the first place, let alone spend money on.

Yeah, see I think paying real money for a skin in a video game is stupid AF but people are doing it, I can see people wanting to show off in the virtual metaverse too

 

[Seedtype]

To me the concept of the metaverse doesn't make sense until VR becomes something more like the Matrix or Sword Art Online(which I am all for except having implants or a big hole in the back of my head, and uh lethality potential).

However current VR headsets are definitely great for the vehicle enthusiast, whether air, space or land. I definitely see it replacing triple-screen setups completely as the the tech matures.

I definitely don't see the point just for people to have meetings.

 

[Dogewow]

Yeah, see I think paying real money for a skin in a video game is stupid AF but people are doing it, I can see people wanting to show off in the virtual metaverse too

I'm sure one day it may be a possibility that more people start spending on virtual items (if this specific iteration of the Metaverse evolves does not fail). But like I said, there has to be a fun, interesting, practical reason to go to the Metaverse in the first place for people to justify spending money.

Right now there is none and the only people spending money on it are those who've been duped by Zuck.

 

[Chadstudsky]

I'm sure one day it may be a possibility that more people start spending on virtual items (if this specific iteration of the Metaverse evolves does not fail). But like I said, there has to be a fun, interesting, practical reason to go to the Metaverse in the first place for people to justify spending money.

Right now there is none and the only people spending money on it are those who've been duped by Zuck.

I'm just trying to figure out who's gonna make that world. That world will come to be IMO, there will be sex, ego, videogame, consumerism, live sports, meetings, live concerts, etc to it, and that world will monetize itself and become one of the most powerful and influential companies in the world, again IMO. Figuring this out early means life changing money for you and me.

 

[GreytWun]

I have a VR headset and I enjoy shutting down for a few hours a week and play some games however headsets are far away from being anywhere close to comfortable, clarity and battery life is horrible. I cannot see myself in a fake world spending real money especially in todays world where everything costs so damn much.

We are talking 5+ years before coming close to see if the Meta world will evolve or fizzle.

 

[Dogewow]

I'm just trying to figure out who's gonna make that world. That world will come to be IMO, there will be sex, ego, videogame, consumerism, live sports, meetings, live concerts, etc to it, and that world will monetize itself and become one of the most powerful and influential companies in the world, again IMO. Figuring this out early means life changing money for you and me.

I mean I don't disagree. I think eventually something like that will come to fruition in the far future and its certainly an exciting thing to think about (but also a troubling at the same time given issues previously brought up).

I just think that the technology that will get us to a world similar to Ready Player One, is currently within the realm of science fiction.

I also am not seeing any technology out right now that is "on track" towards getting us there anytime soon. Off the top of my head (maybe there's more out there I'm unaware of) all I can really think of is NeuraLink? Even that has its problems (both efficacy and ethically wise) and isn't being used to trick your brain into thinking you're in another world. It's more transmitting information to and from your brain to other devices.