The Metaverse Era Is Just Getting Started

22 Jun 2024

The metaverse had a massive cultural moment a few years back, with a ton of media attention and serious interest from some of the biggest corporations in the world. 

This wave of hype sparked a boom in metaverse development that has continued to this day, but the human attention span is very limited, so nothing can stay front-and-center in the headlines for very long. As time went on, other trending topics like AI have taken center stage, leaving many to think that the metaverse has already peaked, but this couldn’t be farther from the truth, the metaverse is just getting started. 

Technological Hype Waves

If you look back at the history of technological development you can see that many revolutionary technologies had similar hype cycles. Imagination typically moves a lot faster than progress. When we get our first look at a new technology, imaginations run wild with all of the things that it can make possible, but the capabilities to turn these ideas into reality are rarely there in the first hype cycle.

After the “dot-com bubble” popped in the early 2000s, there were many people who felt that the internet had peaked, but as we know that moment in time was just the first hype cycle that began years of innovation. The same thing happened with blockchain and crypto after the ICO boom of 2017, attention left the industry for a while, but building continued in the background and we now have a thriving industry that is far more advanced and consumer-ready than it was 7 years ago.

  • Technologies that are first seen as passing fads, often become important pieces of our economic infrastructure. For people watching from the outside, it seems like these transitions happen overnight, but they are always the result of many years of work and research.

A very similar scenario has been playing out with the metaverse. There was a lot of excitement for a short amount of time, but the technology wasn’t entirely ready yet, and there wasn’t much of an ecosystem for people to explore, outside of a few small standalone platforms. Media headlines and speculative attention shifted in other directions, but the metaverse didn’t stop growing. In fact, the technology has come a very long way in just a few years, and the vision that many of us had of a true virtual society is finally coming into view. 

It’s Time For The Metaverse

We have passed the phase where the metaverse is a trend and we are now beginning to enter an era where the metaverse is a part of everyday life. Games, concerts, sporting events or experiences with celebrities and influencers will increasingly become metaverse-ready, giving fans the ability to join these gatherings remotely from anywhere in the world, using AR, VR and even more common devices like phones and laptops. Social media platforms and interactions with friends will soon be metaverse experiences. The metaverse will also become a source of income for millions of creators, who now have the ability to establish unique businesses in virtual worlds.

Somnia’s omni-chain protocols and upcoming Layer 1 blockchain will play a vital role in this process of bringing the metaverse to the masses. With Somnia, separate metaverse worlds and experiences will be connected into a cohesive virtual society. Creators will govern the system, and will have new opportunities for collaboration that were once impossible. 

See how the metaverse has evolved and find the opportunities waiting for you in Somnia