Nothing is permanent except the change. With the change, the future of social media is also changing… today beyond. And as such, the future of social media is also connected with the future of the Metaverse. Metaverse is now the social media that is intrinsically linked with our future. Facebook has changed to Meta. The social media conglomerate has changed its name… officially to Meta. But the parent company that owns Whatsapp, Instagram, and Messenger will have a new name – Meta has been derived from a Greek word, Meta means after or next evolution of social media. Today, with the development of Metaverse, new opportunities, new innovations, and new challenges have bloomed. The name change from Facebook to Meta brings out a big transformation from a social media giant to a multifaceted conglomerate.
Instagram is adding NFTs whereas Twitter is adding avatars verified on the blockchain. Do all these indicate a shift? Yes, there’s a definite shift. A shift to crypto and VR where businesses are required to pay close attention.
And this shift is very vital. However, to keep up with the swing and know which of these new trends will stay or rule is really challenging.
Is the Metaverse the future of social media?
In this fast-paced world, social platforms are advancing more than we can imagine. It’s not possible for Meta to ward off every social platform and so they are ready for what comes NEXT!
However, this doesn’t mean that consumer behavior will switch over to other platforms from traditional social platforms. We still enjoy the services of primary social media platforms such as Facebook, Instagram, and TikTok; while Twitter and LinkedIn are gaining in popularity as strong marketing platforms.
These social platforms will continue to be the trustworthy as well as primary social media platforms even if the internet evolves into new platforms in the next 5-10 years.
Over the past 20 years or so, social media has become an important theme for all of us. Communication, transaction, and sharing interests have slowly increased, and that too without physical interactions. But today, social media companies are bound to think of a new line, and design an innovative strategy because they need something DIFFERENT!
The Metaverse is an extension of social media and offers new experiences to users like live events, and collaboration which are based on VR & AR. Though it will take some time, as the Meta is conceptual and the technologies are in a nascent stage.
Further, regulations will be a key issue in the near future as the Metaverse can also be plagued by ads, misinformation, data privacy concerns, etc.
Why does Metaverse matter?
In a virtual world, Metaverse is an online space where people spend more time than in the physical world. In the Metaverse the features and functionalities have all become accustomed to – ‘liking’, ‘sharing’, and ‘for you’ pages which are no longer confined to only social applications. While gaming, learning, working, or doing other activities, these are there when connected to the virtual world. In brief, Meta creates a VR-enabled social network.
The Meta combines digital reality and physical reality and offers enhanced immersive experiences. The Meta is the home of varied activities like buying digital land, constructing virtual homes, or participating in different virtual social experiences. Therefore, we can state it’s an independent device and operates independently.
Social media companies have the potential to earn a lot from the Metaverse, as it enables them to grow their user base, particularly among Generation Hashtags, because they have the ability to invest in new technologies to expand online activities.
Additionally, the Metaverse is a virtual shared space that combines the Internet, and AR. This will make a shift in social media marketing. Interactive 3-D models and new strategies will take on the old marketing forms. For example, Bluemoon allows people to create VR spaces where they can showcase their products in a new way.
Virtual Search in Metaverse offers users the to search for a distinct product by focusing on a specific item in a virtual space. This will enable marketers to unfold new opportunities.
Users can also customize their Metaverse avatars with unique outfits & accessories. For example creation of Snapchat’s 3D avatar tool helps brands to make profits.
The Metaverse is a combination of multiple trends and technologies. Some of these include:
- Augmented reality (AR)
- Virtual reality (VR)
- Internet of Things
- AR cloud
- Artificial Intelligence (AI)
- Non-fungible Tokens (NFT)
- Spatial technologies
Let’s see how Metaverse works
According to the framework, the Metaverse is made up of seven layers. These are:
- Experience – The Metaverse will offer us three-dimensional (3D) and two-dimensional (2D) experiences that we are unable to experience at present.
- Discovery – The Meta has both inbound and outbound discovery systems. Inbound discovery is when people search for real information and outbound discovery is sending messages to people whether they have requested them or not.
- Creator economy – In previous internet versions, programming knowledge was required to design & build tools. However, with Meta, web applications can be created without knowledge of programming.
- Spatial computing – Spatial computing combines AR and VR, and users can use face filters on Instagram for spatial computing.
- Decentralization – Decentralized Metaverse has one key feature – all assets and user activity are recorded in Blockchains, allowing the user to create their avatars and monetize them in the Metaverse.
- Human interface – A user can get info about surroundings, create maps or even share AR experiences by just having a look at the physical world. This amalgamation of spatial computing, human interface, and AR allows to receive and use of maps,
- Infrastructure – The technological infrastructure including the 5G network is essential for other layers to exist that help reduces congestion and increase bandwidth.
However, it’s not possible to predict when exactly the Metaverse will replace social media networks, but it’s sure that it’ll open up new social benefits and unlock new financial opportunities that would help users in the near future.
The Metaverse will have an intense impact on social media. Exploring new opportunities, and unfolding new possibilities would help the users to venture into new social media activities. The Meta would certainly revolutionize the world in the upcoming days, and that’s for sure! The fundamental behavioral changes will add to the changes in technologies, from 2-D it’ll change to 3-D and online interaction will become more immersive thereby allowing users to communicate across the globe in an entirely new way.
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