Currently, the Metaverse and the Web3 are topics of interest to many. If the two concepts for some are a big ambiguity, the big names of Silicon Valley, for their part, invest more and more in the matter. What are the challenges of these technologies? What binds them together? We are taking stock.
Metaverse and Web3: what are we talking about?
Let’s start by defining these two elements. The Metaverse is a term coined in 1992 by Neal Stephenson in his science fiction novel “Snow Crash”. In his book, he describes a futuristic world based on virtual reality. Today, the Metaverse is often defined as a fully immersive 3D environment where individuals interact with each other, but also with avatars as if they were real. The goal is to allow users to play, socialize, meet new people and even work in dedicated 3D spaces.
The Web3 concept is newer. It refers to a decentralized version of the Internet, after Web 1.0 and Web 2.0. Through this, Internet users have the possibility to control their data without intermediaries, to protect them and therefore to process information more intelligently.
Web 3.0 and Metaverse: two complementary ideas
The two concepts are closely related. At one point, they were even the subject of a common name, that of Web 3.0, which designates the third major version of the Internet. These two technologies, combined with artificial intelligence and Big Data, will be the pillars of tomorrow’s Internet. In fact, they can offer users the opportunity to enjoy more authentic interactions and access online services in a completely autonomous way.
Take the example of travel. Metaverse and Web3 make it possible to go to the other side of the world without having to leave home. Besides that, the entertainment industry will become more interactive. The size of a concert hall no longer matters. Fans can move freely there and grow closer to the artists. Movies and TV series can be a form of Metaverse in themselves. Individuals can immerse themselves in it virtually and live extraordinary experiences.
And the French companies in all this?
Faced with the media excitement experienced by Metaverse and Web3, it is interesting to ask what French companies think about it. A study by Sortlist looks at the topic in March 2022. Of the 200 companies that have been surveyed and have already invested in Metaverse, it shows that, in its current state, the technology seems to focus mainly on men ( 64%), high-growth companies (60%) and Generation Z (55%). If not, 26% of brands expect to make a return on investment with Metaverse, while 17% expect to collect data. 68% of the brands questioned think that the device will experience a development in the next 5 years, and 55% believe that it is a risky investment that is worth it.
In addition, 92% of companies revealed that the pandemic has accelerated their investment in Metaverse. It should be noted that a second study conducted at this time with the general public revealed that 54% of individuals are not yet ready to trust a possible virtual world. True, the economic model is promising on paper, but doubts remain, especially in terms of cybersecurity, personal data protection or even the loss of mental health value. Continue…
(Image credit: iStock)
Article written by
This text is published under the responsibility of its author. Its content is not in any way associated with the editorial staff of Les Echos Solutions.