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CES Fresh Take #3: Metaverse 

Today we shall continue our series of CES fresh takes and now the Metaverse takes the immersive stage! 

The metaverse, a term coined by sci-fi author Neal Stephenson to describe a virtual world that is fully immersive and interconnected, is starting to move from science fiction to reality and that was apparent in CES by multiple sessions, panel discussions and also companies presenting their new portfolios related to virtual platforms, gaming but also industrial applications.  

One particularly interesting panel session focused on metaverse’s development and barriers. The participants in the panel were Partick Cozzi from Cesium, Edwina Fitzmaurice from EY Client technology, Peggy Johnson from Magic leap, Brian Markwalter from Consumer technology association and Neil Trevett from Nvidia. 

According to panelists, as a variety of disruptive technologies, including blockchain, web3, and AI, come together to enable new levels of immersion and interaction in virtual worlds, the potential applications for the metaverse are almost limitless. From gaming and events to education and manufacturing, the metaverse has the potential to revolutionize how we live, work, and play. 

But achieving the vision of a metaverse for all will require unprecedented cooperation across a range of industries and stakeholders. As leaders in this space share their views and visions, it’s clear that there is value in these new platforms, but businesses still lack the capabilities to monetize them in a meaningful way. Consumers, in turn, are waiting to see how the metaverse can benefit them before fully embracing it. 

Panel emphasized the use cases and one of the most obvious applications for the metaverse is gaming, and it’s no surprise that games like Fortnite and others have already started to incorporate virtual worlds and avatars. But the metaverse has the potential to be so much more than just a gaming platform. Landlords, for example, could use it to show potential tenants virtual walkthroughs of properties. Concert and other events could be held in the metaverse, giving attendees a fully immersive experience. The key to monetizing these kinds of experiences will be the use of digital assets and tokenization. 

Another area where the metaverse could have a significant impact is in manufacturing and other industries. Digital twins, which are virtual replicas of physical assets, can be used for training, simulation, and design purposes, saving time and money and improving safety. The healthcare industry could also benefit from the use of virtual worlds for training and recruitment. Schools and hospitals are also areas where the metaverse could potentially be used to deliver services. 

But there are still obstacles to mainstream adoption of the metaverse. For one, the hardware required for fully immersive experiences, such as VR headsets, is still relatively expensive and can be uncomfortable to wear for extended periods. Haptics, which add the sense of touch to virtual experiences, and other technologies are also in the early stages of development. In addition, the ecosystem for the metaverse is still partially missing, as people don’t yet fully understand all of the things that can be done in these virtual worlds. 

As the metaverse continues to evolve, it’s important to consider the ethical implications of these new technologies. The metaverse has the potential to bring people together in ways that were previously unimaginable, but it also has the potential to exclude those who don’t have access to the necessary hardware or who may be visually impaired. It’s important to have a discussion about these issues now, as the metaverse is being built, so that we can learn from the mistakes of web2 and create a more inclusive and open virtual world. 

The professionals were sure that the metaverse is not something that will be launched one day, but rather it will be incrementally integrated onto the internet as the necessary technologies and platforms come together. As this happens, it’s important to have a clear vision for the kind of world we want to build and to ensure that it is open and accessible to all. By bringing together the diverse technologies and platforms that will enable the metaverse, and by building on the foundations of web2, we can create a new and exciting virtual world that brings value to businesses, consumers, and society as a whole.