Stephenson optimistic about metaverse

 

Neal Stephenson, the "Snow Crash" author who coined the term "metaverse," sees recent advancements in VR, AR, and XR as prerequisites for building the metaverse.  Stephenson broadened the metaverse definition to include a three-dimensional shared environment encompassing AR. Analyst Olivier Blanchard doubts the mainstream adoption of VR, AR, and XR without clear benefits for users. Meta and Apple are investing in metaverse-related products, but the 2021 metaverse hype has reportedly faded.  The Web3 movement faces challenges like scams and vulnerabilities. Lamina1 aims to enhance metaverse tooling through partnerships and blockchain technology. BlackRock believes the metaverse will take years to come to fruition but sees potential now for investments in companies that build the underlying technologies. According to a McKinsey report, more than $120B was invested in building metaverse-related technologies during 2022, more than double the previous year.