The concept of the metaverse is not new, with the term first being coined in the 1992 novel Snow Crash. Further, while pilots have used a form of virtual reality (VR) as part of their training for decades, many 90s gamers would be familiar with games such as Second Life and Sims that involved a the metaverse.

With advances in VR technology, such as the greater development of the Oculus Rift and Meta’s Meta Quest, the possibility of a functioning metaverse has become increasingly real. We have seen the introduction of mixed reality functions, initially through recently released games such as Pokemon Go, but more practically through Ikea’s use of this technology for furniture placement.

In 2021, Forrester Research found that only 17% of those surveyed in the UK would like to spend time in the metaverse, and 36% reporting they have no need for the metaverse in their life.

The Covid-19 pandemic has arguably pushed the idea of the metaverse further along, but questions remain over what it actually is, what it’s for, what benefits it might offer, and if this is a development we even need.

Speakers:

• Níamh Curran - Reporter, Finextra [Moderator]
• Dr. Jochem Hummel - Assistant Professor of Digital Innovation & Collaboration, Warwick Business School - The University of Warwick
• Rohit Talwar - CEO, Fast Future
• Ben Hall - Product Manager - Digital Assets, Solaris
• Tom Ffiske - Editor, Immersive Wire