Elon Musk, the CEO of Tesla and SpaceX, has stated that the Metaverse is more a marketing gimmick than a viable notion.
Musk recently told conservative satirical site ‘The Babylon’ that Facebook’s Metaverse idea, initially announced in October and focused on augmented virtual reality (VR) experiences, was more hype than substance.
“I don’t see someone wearing a screen on their face all day.” I’m not sure if I believe in the Metaverse, even if it’s something that many people talk over. A sophisticated Neuralink might immerse you completely in virtual reality in the long run. I don’t believe we’re on the verge of slipping into the Metaverse. Musk commented, “This seems like jargon during the video debate.”
As digital titans like Meta (previously Facebook) aim big on VR/AR-based technologies to deliver richer immersive experiences to billions in the future, the Metaverse transaction industry is estimated to reach $6.1 billion this year.
According to research company Strategy Analytics, the worldwide Metaverse market is expected to reach about $42 billion by 2026.
Facebook has announced that it will invest more than $10 billion to realise its Metaverse goal.
“It’ll obliterate your vision.” I’m not seeing a compelling metaverse situation right now, and Web 3 sounds more like marketing than reality. “I don’t get it,” Elon Musk said, “and maybe I will,” but “I don’t get it yet.”
Metaverse has come to represent a utopian convergence of digital experiences fuelled by Moore’s Law – an aspiration to enable rich, real-time, globally interconnected virtual- and augmented-reality environments that will enable billions of people to work, play, collaborate, and socialise in entirely new ways.
According to top chipmaker Intel, building Metaverse at scale and accessible by billions of users in real-time will necessitate a 1,000-fold boost in processing efficiency over what we now have.
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