“The Metaverse is just a one-person chimera.”

In this tone, critics often get very creative when it comes to seeing only something negative behind a new industry. But it would be too easy to look at only one side of the coin. The term “metaverse” has become part of public debate, sometimes even in the Bundestag.

There are a variety of topics covered in relation to the metaverse, from potential applications to privacy implications and legal issues. Proponents claim it could revolutionize industries by creating new ways to interact. Other critical voices, on the other hand, mainly see the dangers, because the American company Meta behind it is understood to be synonymous with Metaverse.

Is a man born a thief?

The idea that a child is born with a clean slate and that what affects them later can be both positive and negative is widely accepted. It is the responsibility of parents, guardians and society to ensure that the child’s environment helps him realize his full potential by providing support, care and guidance. It’s the same with technology. Initially, it is neither positive nor negative.

But the question comes from who you How? ‘Or’ What used for this and why it’s finally done. “Web3” technology, a generic term describing a set of emerging technologies and protocols related to decentralization. This includes interconnected virtual worlds, blockchain and other sub-technologies such as NFTs or coins. What’s interesting is that these aren’t even interdependent.

If you want to use virtual worlds in your business, you are not dependent on blockchain. If you want to accept payments with a blockchain-based digital currency, you don’t need to create a metaverse first. Each of these aspects is sufficient in itself. But they have a common goal: to focus on people as individuals: independent of location (decentralized) and independent of time (always available).

This creates a sense of unease in many companies with highly centralized business models. Because where change happens, a business model can also be at risk. This creates an understandable heightened alertness.

So ignore it?

Let’s look at the resulting opportunities using the example of a human resources department that arise from the use of virtual rooms.

With the growing world of connected virtual spaces, companies are able to take advantage of digital spaces in their HR strategies. Virtual spaces help companies create a unique sales experience for candidates and prospects to learn about company culture in a way that a phone call or video conference never could.

The representation of the company headquarters (digital twin) in a virtual world shows how people work there. For applicants who live hundreds of miles away, this is a positive trait like innovative the new company is For a later onboarding process, it’s much more exciting than reading Word, PDF or other documents.

Virtual worlds offer businesses a range of opportunities to promote inclusion and corporate culture. On the one hand, employees can experience an environment in which all people are equal, regardless of background or physical ability; without judgmental attitudes. This promotes diversity and self-determination in collaboration, with digital avatars representing each team member. For businesses, these are cultural values ​​to which virtual worlds make a decisive contribution.

MyVerse GmbH as a full-scale replica in the Metaverse Framevr.io

Web3 and all its facets affect not only businesses, but also our political systems. Politicians discuss possible application scenarios that create completely new possibilities with this form of digitization. The consequences for our economy, our society and our environment are significant. There is a lot of discussion about what needs to be regulated in terms of data protection or privacy in digitized processes. Adoption of Web3.0 technology must be accompanied by appropriate legal policies that protect both the user and the business.

These rules should ensure that digital markets are fair for all parties involved and that privacy is respected by the companies that use them. Moreover, such guidelines would clarify how people use this new technology.

Germany now has the chance to use the Web3.0 milestone to succeed in the new digital era. And we want to do our best to make sure that all use cases are used in a reasonable way by people. Ultimately, all parties agree that digital technology has great potential. But as in all areas, we can “use the opportunities” and “weigh and reduce the risks”.

About the Author:

Stefan Spelter is the Managing Director of MyVerse GmbH.

MyVerse GmbH is a consulting company since 2022, which has made it its mission to promote digitization as well as the dissemination and implementation of innovative software solutions for decentralization and Web 3.0. In this context, the core competences of MyVerse GmbH include change management and the involvement of people in the integration of new solutions, as well as the overcoming of regulatory obstacles in the context of data protection and IT security. . It develops software and services, as well as corresponding use cases in the fields of computing, augmented reality, virtual reality, artificial intelligence and mixed reality.

MyVerse GmbH is a partner of Mission Top 5 and TheGrow, as well as a strategic partner in Europe for Virbela and FRAME.

Statements by the author and interview partner do not necessarily reflect the opinion of the editors and publisher.

“The Metaverse is just a one-person chimera.”

Cover photo and photo: MyVerse GmbH

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