Metaverse: The Potentials

My visit to the Metaverse has been a thrilling exploration of its transformative potential in law and technology. The dynamic possibilities it offers in operating blockchain systems and smart contracts are truly fascinating. 

Access to the Metaverse is possible through Facebook's "Oculus Quest 2" headset. The headset is wireless, and the "apps" are displayed directly on the lenses. The headset is controlled by light and user-friendly wireless joysticks. You can also control the headset by moving your hands. 

As soon as the headset is turned on and connected to the Internet, you will enter the Metaverse. 

The Metaverse is a world of wonders. I can travel and explore cities worldwide in the blink of an eye. I've even ventured into space, floating in a space shuttle and gazing at Earth through its windows. The sheer immersion and wonder of these experiences are truly jaw-dropping!

I went to the cinema to watch a Sci-Fi movie on a screen before going to a real cinema. I also met people from all over the world and spoke to them over a super-designed meeting table. I was also able to get inside a whale and even a mosquito and observe their biological aspects with the utmost accuracy!

I worked out in the Metaverse competitively, with an adrenaline rush! I played boxing against virtual boxers in arenas filled with crowds cheering, shouting, and applauding the winner. Each match I finish, I sweat heavily and burn thousands of calories! I also climbed Everest Mountain, and with every step up, I observed every detail around me with genuine emotion. 

The advent of the three-dimensional world of the Metaverse is inevitable. However, it's crucial to acknowledge the potential challenges that may accompany this experience, ensuring we are prepared for them. 

If used excessively, it will have many disadvantages for people who lack time management knowledge, especially those who are addicted to consuming video games. 

On the other hand, it offers tremendous opportunities. Undoubtedly, it will employ a considerable segment of people from numerous sectors. On the practice side, science can be perfectly applied in the Metaverse, especially in medical and engineering education. It will also help people with special needs unprecedentedly earn graduate and postgraduate education and move freely and productively in this world.

It also offers efficient exercise at home. There are vast virtual spaces to exercise with people and trainers in different sports, such as aerobics, skating, golf, boxing, tennis, and table tennis. 

The Metaverse will also be significant in marketing. For example, it is possible to set up Metaverse stores that mimic actual stores. In these stores, you can buy items directly from the virtual shelves with cryptocurrency or regular money, and your purchased items can be delivered to your actual address! 

In business and business management, meetings and lectures may be perfectly held remotely, where people can meet inside a room and creatively interact and collaborate like never before. You can design, build, and sell products and services, chat and discuss topics with others, and write or draw directly on any space in this virtual world. Also, you can exchange files with others using your virtual hand!

On the legal side, we may see courts in the Metaverse investigating disputes arising from interactions in this world or even in the real world, especially when the one-user, one-identity system becomes possible through blockchain technology. 

Smart contracts will be created and executed in the Metaverse, a game-changer in law and the commercial, scientific, cultural, and social exchange between people worldwide. Buying and trading virtual lands to build monuments, museums, homes, governmental bodies, parliaments, and offices will also be possible. Last month, a virtual plot of land was sold for a record $2.4 million!

Significant legislative amendments may be required worldwide to regulate Metaverse transactions, especially provisions related to competition, international trade, data protection, and finance. Facebook's Metaverse is the most advanced platform so far. But this will inevitably spark competition from other operators, such as Apple and Samsung, to create new platforms. Eventually, the platforms will connect to make it an endless, sprawling world! 

I do not doubt that the Metaverse will attract more people. However, this mainly depends on how small and light the headset can get, as you may feel discomfort after 30–40 minutes of use.

Concerning current technological advancements, experts are working today on making "Metaverse Gloves" that let you feel things inside, and they may be available soon! 

The economy, as we know it, will change dramatically, especially after the end of the pandemic. Therefore, any country's economic development and growth will rely mainly on innovation and keeping pace with technological advancements and changes.

The video below is a recording I made with my glasses in the Metaverse while exercising on my stationary bike, riding in Zagreb City, and observing the nature around me in 360 mode! Innovation has no boundaries!