The metaverse: it’s still out there, somewhere…

Enrique Dans
Enrique Dans
Published in
3 min readMar 20, 2023

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IMAGE: An image of a woman wearing a VR visor
IMAGE: Gerd Altmann — Pixabay

Anybody who doubted that Meta’s metaverse was a flash in the pan need only scan the headlines about Mark Zuckerberg’s company, which has quietly changed tack and is now laying people off en masse while insisting that its future is now about efficiency and AI. In short, another familiar chapter in the history of an industry prone to bet the farm on the next big thing.

As is now increasingly evident, other than video games addicts, few of us are seduced by the idea of strapping a clumsy device in front of our eyes, losing all contact with the reality around us and moving around in a parallel virtual universe. Things might change when the technology has improved and there are lighter, more comfortable VR headsets; that said, there will always be other ways to enjoy immersive experiences.

The important lesson here is that the idea of one company monopolizing the metaverse and turning it into a platform where it sets the rules is dead in the water: the metaverse, whenever it comes, will be decentralized: a set of protocols based on open source and cryptography, regardless of what happens to Meta, and much more than just a buzzword. Immersive three-dimensional environments offer enormous possibilities for innovation, far beyond the limited vision of a company that was only ever interested in marketing, branding and above all, advertising.

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Enrique Dans
Enrique Dans

Professor of Innovation at IE Business School and blogger (in English here and in Spanish at enriquedans.com)