The metaverse. What even is that? A technology we disregard as an empty promise because we are skeptical of it? We tend to fall back on science fiction when we try to imagine the future of augmented reality, but was there anyone who correctly predicted the state of the current internet when it first emerged? Probably not.

The internet used to be this expensive concept that required a lot of hardware to set up; now, we can buy Wi-Fi routers in a convenience store. Ironically, we say that the present-day augmented reality (AR) and virtual reality (VR) headsets are too bulky or ugly. But just like the internet, the metaverse will probably start as a corporate solution bringing transformation to the modern-day workplace before penetrating our daily lives. The internet brought along massive change and we are almost sick of it now, coming up with similar solutions for the same problems while pondering on the idea of privacy and security. It's improbable that the metaverse will have a similar start — we are all too used to the idea of transformative apps. Still, it does not give us the right to think we have it all figured out.

The very potential of the internet propelled humanity's technological progress — we developed hardware to harness the power of hyperconnectivity, invented online games and streaming services, established the concept of remote work and outsourcing, and built communities and exchanged cultures. We call the internet a virtual world with our social media profiles, but we still share the physical world in which we live, and the way we see it. Augmented reality will give us the power to build our own individual worlds within the same space limited to our eyes only. If we simply entrust the task of engineering the next internet to visionary entrepreneurs we just might have something special again.

The metaverse also has the potential to be more sustainable and drastically reduce the need for TVs, monitors, and maybe every other screen for owners of AR and VR headsets. No need for shared physical spaces or passing remote controls, either. One case from 2021, in particular, proved this point: the filming of The Batman was simply impossible during the pandemic as the cast and crew were allowed to be on set with only a few people for a limited amount of time. The crew needed to set up props and the sets themselves, if not build a new one altogether. The director would need to choose shots, adjust lighting, positioning, and so on and so forth. Given a VR headset and a virtual environment with 3D models of all available props and assets on the actual set, the director was able to prepare everything in advance and the crew received instructions all at once. Let's face it — pictures don't do the real world justice. Would you view an apartment for rent in another city through FaceTime? Would the realtor do it for every client?

From an industrial point of view, it's an even bigger change, with every market subject to a free-for-all. Think about the freelance job market — soon enough, we will have Patreon pages for every 3D modeler to ever exist. Think about instructions and product demonstrations — no more need to place a banana next to an item to get a feel of its dimensions, and no need to have books or tablets or in-person masterclasses. Everything would be subject to reimagination. We might just have a fresh new start for everything we ever made faulty.

Real money, virtual products — the economy will have a blast. User tracking and privacy — governments will love it, too. But most evidently, investors are in for a whole new level of gambling. The projected market value of the metaverse is already at 70 billion dollars. By 2028, it's expected to be nearly one-tenth of the internet market cap, according to Statista and Stock Analysis.

Given all this potential and hype, we must also acknowledge the fact that society doesn't like radical change. It's almost contradictory for people to be flooding into the metamarket; the metaverse needs to be well-built and should account for almost every need, but at the same time, such a rapid transition would be troublesome and scary for most. We are already struggling every day in our first and only world because of all the problems we create. Parenting the globe is already hard; opening the metaverse would be like having another kid while the first one can't even walk without falling. As a society with a shaky world order, can we handle such change without falling apart in the process?