Metaverses outrun virtual reality in terms of functionality and prospects – these are entire universes with their own laws, economics, and social structure | Lado Okhotnikov.

Metaverses are virtual worlds where people can communicate, have fun and work. It is important to understand them so as not to find yourself in a rocking chair after 10 years, surrounded by children in VR headsets and feeling backward. 

As shown by a study of the LinkedIn platform, reported by the Axios portal, among different generations of our time, the so-called “zoomers” show the greatest interest in studying artificial intelligence technologies. Compared to Baby Boomers, Gen Z is 1.6 times more likely to want to learn AI skills. And in comparison with “generation X” this figure is 1.1 times higher.

Last year marked a breakthrough in the fields of artificial intelligence, augmented and virtual reality. Despite this, the spread of innovation is still limited, and available apps do not provide the level of immersive experiences that humanity expects.

The leading experts such as Dr. Hao Li, have called for a next-generation metaverse where artificial intelligence will play a key role in overcoming the shortcomings of traditional technology.

“Using AI to generate realistic avatars from photographs could be a revolutionary shift in the development of virtual interaction. But this requires a growth driver,” emphasizes Hao Li, an Associate Professor of Computer Vision and Director of the Metaverse Center.

In turn, Lado Okhotnikov, the ideological inspirer of Meta Force, noted: “…The market is not in hibernation. Yes, there has been a slowdown in development, but this can probably be associated with the general situation in the crypto market, which was observed in the first quarter of 2023. Now things are different, new players have begun to appear, ready to compete…”

 I share Mr. Lado’s view that the decline in the cryptocurrency market has slowed down the growth of the industry. The outflow of capital that we observed is quite understandable. At the same time, the funds withdrawn from the market did not disappear, but were invested, which made it possible to progress in other areas.

You can’t call AI smart — it’s only a dataset so far

In 2023, we learned how AI and generative methods are rapidly solving multitasking problems. For example, Professor Hao Li’s group at Abu Dhabi’s Mohamed bin Zayed University of Artificial Intelligence (MBZUAI) was able to create photorealistic digital avatars from photographs using neural networks.

“Tasks that previously took a lot of time are now completed much faster – in a matter of minutes,” Dr. Hao Li commented on the results of his work.

I agree that collaboration in academia stimulates the development of new ideas. For example, Mr. Hao Li did not mention, but I know that on his initiative, promising methods of displaying a dynamic environment are being explored so that in the future these developments can be used for entertainment, education and urban planning.

I also learned that major brands like Nike, Walmart and others continue to actively invest in virtual reality. Just recently, Meta Force announced a major update. The company will spend over a million dollars over the next few years to build a strong foundation for its metaverse.

This could revolutionize virtual communication and collaboration. Therefore, Lado Okhotnikov, CEO of Meta Force, is making every effort to ensure that his company does not lag behind such technology giants as Microsoft, Apple and Meta.

According to Mr. Okhotnikov, the integration of AI and augmented reality technologies in 2024 will open a new era of virtual research. However, it is too early to say that artificial intelligence is such.

“…More like the accumulation and analysis of data than the manifestation of any intelligence. It is not yet possible to say that the machine has intelligence. It only arranges symbols in certain sequences based on accumulated statistics and algorithms,” emphasized Lado Okhotnikov.

I believe that this year and next we can expect a sharp increase in the use of game mechanics and elements in brand marketing strategies.

But first the privacy issue needs to be resolved. As the source states, “until regulators see the need to change the approach to regulating the metaverse, significant changes in this area are unlikely to occur.”

Harrison Hayne, The Review of Banking and Financial Law (RBFL) Editor believes that one of the main problems is uncertainty in the use of personal data of users by service providers.

In the article “How Regulation Will Apply To The Metaverse”,  published by Forbes Nisa Amoils says that “…the metaverse will face a wave of regulation similar to what is happening in the field of cryptocurrencies.”

Still, people are not deterred by the fact that they don’t yet know what to do with virtual reality. According to Deloitte Digital’s 2023 Digital Media Trends Study, virtual space is already an integral part of users’ daily lives.

The report states that approximately a third of American respondents believe that virtual interaction could well replace personal communication. In addition, half of Generation Z and Millennial respondents shared this opinion.

Lado Okhotnikov: Gamification is the key to routine

Top startups in terms of developer activity since January 2024 – a GameFi-based project has entered the top five, which indicates growing interest in gamification.

The creators of Minecraft were among the first to use gamification. This is the most famous game in the world. She has a large number of fans, especially school-age children.

The developers did their best, because the virtual constructor is entertainment that children can understand from an early age. By playing it, teenagers develop logical and spatial thinking, train memory and imagination. The skills that a child acquires by creating buildings from ordinary cubes or Lego constructors are easily transferred to the virtual world of Minecraft.

The Sandbox is an equally popular voxel metaverse, reminiscent of Minecraft in style. Users buy plots of virtual land there for cryptocurrency and create various gaming content on them – quests, simulators and other entertainment.

Decentraland, like The Sandbox, allows you to buy plots of virtual land, but the audience here is a little older and more serious. Users open galleries, shops, brand offices, and other establishments on their properties. However, the game attracts most by collecting resources and exchanging them for valuable rewards.

According to statistics, more than half of American teenagers under the age of 14 regularly play Roblox – there are hundreds of thousands of different games in a variety of genres. Therefore, the platform is now the undisputed leader.

Of the metaverses presented, Meta Force looks promising and interesting for several reasons. Firstly, the project has a strong development team with great authority in the field of NFTs and virtual reality. Secondly, users are allowed to passively earn money on digital assets – Royalty is regularly awarded. Since the beginning of 2023 alone, about two million dollars in bonuses have been paid out in cryptocurrency. In addition, asset values have been steadily increasing and will continue to do so as the ecosystem matures.

It may seem that such an ideal project does not exist. However, if you look at the real facts, the company is constantly investing in marketing, attracting new users, as well as announcing updates and developing its own products like a social network integrated into the metaverse. So the prospects for Meta Force are very positive.

To sum it up, despite the slowdown in the rate of adaptation of the metaverse after the boom two years ago, the growth rate remains high. Investments from major brands continue, and technological barriers to realism are being actively removed thanks to AI.

I believe that as regulation and technology mature, we can expect to see metaverses fully integrated into the lives of all of us over the next few years.