5 challenges that the Metaverse can and must overcome

The metaverse is gaining more and more popularity as the new digital way to engage people and companies, where we mix our physical and digital lives not only to work collaboratively, but to live new ways to shop, play, entertain and create unique experiences.

However, despite being a revolutionary trend and proposal, there are challenges that the metaverse must face to deploy its full potential, especially to be a profitable virtual space for companies and enjoyable for people.

• New themes: It is not new that the metaverse has “gaming” as part of its core value proposition, and the video game industry had already oriented its strategy towards the multiplayer online mode. Therefore, it is important to propose new content themes (such as sports, entertainment, industrial, etc.) that diversify this audience.

• Economic transactions: The metaverse involves the interaction of millions of users from different parts of the world, so it is essential that they all share a common economy, either through one or several virtual currencies that facilitate payments and transactions.

• Security: A large amount of data sharing will be required to immerse ourselves in the metaverse; after all, it is built on the identity of its users. Therefore, new methods of privacy and personal data protection will have to be developed.

• Laws: Will there be any jurisdiction in the metaverse? That is, who or what entity defines what is or is not allowed to do in it and, in case it is not respected, what consequences will there be. It is important to consider the diversity of cultures that will be immersed, how will legal certainty be granted to all users?.

• Cultural change: Getting users to accept to immerse themselves for a few hours a day in a virtual world, leaving aside our daily reality, is not an easy task. The user experience (UX) and content will be key at this point, as it must provide experiences that are interesting enough to get us hooked.

In conclusion, existing metaverses are proving to be profitable in their own way and, to improve everyone’s experience, most, if not all, of these challenges must be addressed. This makes it more feasible to ensure an economically profitable, safe and entertaining space for all its users. Let’s remember that for companies, the metaverse is the means to achieve their strategic objectives, so there should be no loose ends in its system and operation.