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Still doesn’t exist • The Register

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Mark Zuckerberg’s metaverse push is getting a little sad. Just seeing an ad pumped into his Facebook by his parent company Meta is pushing this concept down people’s throats. The comments left on each strongly suggest that there is little appetite for fictional technology, whether in business or leisure.

Of course, you need a Facebook presence in the first place, but fortunately Forrester analysts have captured the zeitgeist with a short paper titled “Predictions 2023: The Metaverse And NFTs.” angry investors.

Forrester suggests that the metaverse is the concept of “good times.” You may not realize it, but now is not a “good time.”

“The Metaverse, which didn’t exist yet, has become the ‘next big thing’ in 2021 and 2022,” the analyst wrote. “However, the end of lockdowns outside of China has left consumers less willing to spend time in the online space, and economic headwinds have already exposed the vulnerabilities of the supposed experience revolution, and there is still much to be done. It has not attracted large-scale consumer interest.

“For example, between April and June 2022, the number of job openings with ‘metaverse’ in the description decreased by 81%. As the economy slows further in 2023, irrational metaverse frenzy will give way to a focus on core infrastructure, outdated product features. , and improving immersive experiences on existing platforms – which will lay the groundwork for the future Metaverse. “

Moment of “Pokemon GO”

From this perspective, Forrester makes five predictions for the 2023 metaverse and tangentially related NFTs. That first prediction is that the Metaverse still doesn’t have a “Pokémon GO” moment.

This means that nothing Metaverse-related has ever been released that would make even the most believable consumers go “wow, I need to get that.” First popped up in 1968, it took nearly 50 years before it became mainstream in Niantic’s successful mobile game. It might be nice to hear that a useful “metaverse” could still be decades away.

“According to Forrester’s Media And Marketing Benchmark Recontact Survey 2022, the majority of online adults in the US (65%), UK (73%), France (67%), and Germany (65%) said, ‘Smart brands are , must avoid simple repackaging of old immersive media experiences and innovate, including rethinking hybrid experiences to explore new revenue streams, insights and customer engagement. .”

Splinter Bath

Forrester also believes that as companies steer their vision of the metaverse in different directions, no one will ever settle for standards, which will hinder growth. Analysts point to a survey by the Metaverse Standards Forum that asked members what their priorities should be. The answers, in order of voting, were 3D assets. Privacy, Safety, Security, Inclusiveness. avatars and apparel; user identities; integration of real and virtual worlds.

Funnily enough, Forrester predicts that “neither of these will see a viable standard emerge in 2023 due to the ‘split’ of competing metaverse standards.” Brands that stick to tinkering with the Metaverse simply “lean” on big platforms like Meta’s Horizon Worlds and Roblox for a never-ending eye-catcher chase.

It’s a feature, not a product

Forrester sees the 2023 metaverse as: Department This suggests that Zoom, Slack, Webex, or Google Apps could add “3D metaverse-style functionality.” Also, “Microsoft is adding a 3D mesh component directly to Teams, which allows a user to use an avatar to navigate his 3D virtual space and collaborate on a whiteboard.”

That could be tens of millions of users, of which “only 5%” could be active users, the report estimates. There may be a few consumer brands following the Fortune 500, but “most consumers will still be in 2023 because they lack the scale and accessibility of pure metaverse leading platforms. There is no way to discover them.”

NFT Stunt is dead

Forrester says in a prediction that may be pleasing to your ears: Analyst surveys show that a surprising majority of adults in the US, UK and France have never owned or plan to own an NFT. They will start using NFTs as a way to build ‘sustained customer engagement’ through ‘deepening customer relationships’. It cites how Louis Vuitton and Starbucks are “using NFTs to enable access to exclusive customer experiences and rewards.”

China is special

As China moans under COVID-19 restrictions heading into 2023, Forrester sees an opportunity for the metaverse to thrive. This indicates that “63% of China are keen to explore the metaverse and 47% prefer to interact/transact with brands in the ‘metaverse'” compared to the rest of the online world. Part looks at the concept with skepticism. “The economic downturn will force B2C companies to use affordable solutions like digital idols (human-like virtual entertainers). 5G, VR.” /AR, and advances in 3D engine technology will make digital savvy and novel digital idol experiences more appealing to Gen Z consumers,” the report said.

This new study is in line with previous work by analysts this year who basically said Metaverse does not exist yet, fueled only by hype and corporate fear of being left behind.And guess what, it still doesn’t For real At least not a grand vision of a connected 3D virtual reality world where people can communicate, work and play.

This fact has not been overlooked by Meta’s investors who urged megacorps to do so. “Stay in shape and stay focused” Reduced staff by 20% and reduced annual capex and metaverse investments by $5 billion.

So far, the best thing to come out of the Metaverse craze is watching Zack perform mental gymnastics onscreen, trying to convince the world that it will now become an integral aspect of humanity. There is Facebook also has this kind of emoji. ®

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