Facebook’s Metaverse Explained In Ten Minutes

Metaverse will change the world we know now or destroy it.

Ankit Goyal
Master Investment
14 min readOct 31, 2021

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Introducing Meta: A Social Technology Company (Source: Facebook)

Have you ever watched any of the sci-fi or fantasy anime like "Sword Art Online" or "Overlord" or "Log Horizon"? If yes, and you are someone like me, you must have wondered would it be possible in my lifetime. But, if you haven't watched the anime, don't worry; you don't have to watch it to understand how Facebook aims to change the world we see today.

What is Metaverse?

First things first, what is Metaverse. Here is how Mark explained it.

"…as connections got faster, video has become the main way that we experience content. We've gone from desktop to web to phones, from text to photos to video, but this isn't the end of the line. The next platform and medium will be even more immersive and embodied internet, where you're in the experience, not just looking at it. We call this the Metaverse."

Wow, that got my attention. But, what is "embodied internet." Let's ask Mark.

"…When you play a game with your friends, you'll feel like you're right there together in a different world, not just on your computer by yourself. And when you're in a meeting in the Metaverse, it'll feel like you're right in the room together. Making eye contact, having a shared sense of space, and not just looking at a grid of faces on a screen. That's what we mean by an embodied internet. Instead of looking at a screen and you're going to be in these experiences."

Impressive, so would that mean we will be spending more time on screens?

"This isn't about spending more time on screens. It's about making the time that we already spend better. Screens just can't convey the full range of human expression and connection. It can't deliver a deep feeling of presence."

I agree that screens can't convey the full range of human expression; however, it is hard for me to imagine that we will not be spending more time on screens or in the Metaverse. I believe the more immersive Metaverse will get, the more time we will spend in it.

Everything Facebook Revealed About Metaverse In 15 Minutes

So at which, development stage Metaverse is at right now? Is it possible to experience Metaverse now?

"… it's a little tough because it doesn't fully exist yet. Some of the basic building blocks are here, though, and others are starting to emerge as we speak. We're starting to get a sense of how it can all come together and what it could feel like."

It seems it will take some time till Metaverse comes to reality and scales. However, one of the most critical questions that everyone has in their mind is privacy. But, before I talk about how Facebook is planning to protect users' privacy, let's look at different experiences Facebook offers in Metaverse.

Different experiences we can have in Metaverse

So the question of the day is what types of experiences Facebook is planning to create in Metaverse? If you love fantasy worlds, sit tight to be blown away, and if you are not into the fantasy world, you will hate what I will tell next. So, Facebook has categorized these experiences into six broad categories: connecting people, entertainment, gaming, future workplace, education, and commerce.

1. Connecting with people

Let's have a look at how connecting with people may look like in the Metaverse.

Connecting with people in Metaverse (Source: Youtube)

"You're going to really feel like you're there with other people. You'll see their facial expressions, see their body language, maybe figure out if they're actually holding a winning hand. And all the subtle ways that we communicate that today's technology can't quite deliver. Next, there are avatars, and that's how we're going to represent ourselves.
…Have a photorealistic avatar for work, a stylized one for hanging out, and maybe the fantasy one for gaming. You're going to have a wardrobe of virtual clothes for different occasions designed by different creators and from different apps…
…Beyond avatars, there is your home space. You're going to be able to design it to look the way you want…
Your home is your personal space from which you can teleport to anywhere you want.
…Teleporting around the Metaverse is gonna be like clicking a link on the internet."

We all have seen people physically teleport from one place to another in sci-fi movies or TV shows. Metaverse will make it possible virtually, which I think is a big step towards realizing the fantasy to teleport. However, as much as I am excited about the possibilities Metaverse has to offer, at the same time, I am scared about how the physical interaction with people may change in the future.

As we are considered social beings, interacting with people in the same physical space is necessary to be mentally healthy. And the current pandemic has shown us how less to no physical contact with people can affect our mental state. So, I hope living in a virtual universe will not make future generations lose their connection to the physical world.

In the 80s, people used to play out in the sun, which started to change with the popularity of video games. Then came the smartphones, better gaming consoles, and more immersive gaming experiences, leading to fewer hours spent outside by the current generation. Keeping that in mind, only time will tell how generations born in the decades to come will adapt to the new world we are building today.

2. Entertainment

Let's see how Metaverse can change the entertainment industry or how content creators can interact with their fans.

Future of entertainment in Metaverse (Source: Youtube)

… Metaverse is going to enable richer experiences by letting us add new layers to the world that we can interact with. Creators and artists are going to be able to connect to their audiences in new ways and really bring them into these shared experiences…

As you can see in the images above, it would be possible for individuals to teleport to a concert or event virtually and be present in that space. It could be a game-changer if I could also feel the show's atmosphere and energy on top of being in the space. Not only that, buying digital goods will not sound crazy anymore and will be like buying goods in the physical world. I mean, If I am going to a concert, even if I am there virtually, I would like my avatar to look cool.

So, if you are not aware of NFTs or how they work, you better start reading about them. As in a few years, buying a digital dress or desk will be as important as buying a physical one. My first impression about Metverse was that it would change the tech industry; however, it would change fashion and every industry that manufactures products in the physical world.

3. Gaming

Let's have a look at what Metaverse has in store for gamers.

Gaming in Metaverse (Source: Youtube)

"…gaming in the Metaverse is going to span from immersive experiences in fantasy worlds to bring simple games into our everyday lives."

GTA will soon be available on Oculus Quest 2 (Source: Youtube)

As you can see in the images above, gaming in Metaverse will be completely different from what we know today. Facebook and its partner gaming companies have launched several new games and editions compatible with Oculus Quest. However, you would be happy to know that developers of one of the popular games have started working on its VR edition. And the game I am talking about is Grand Theft Auto San Andreas.

Just thinking about the possibilities and new experiences is exciting. Imagine how it will be like playing the game.

4. Work in Metaverse

I think you can already imagine by now how work will look like in Metaverse. However, here are some things that I find interesting about working in Metaverse.

Work in Metaverse (Source: Youtube)

Imagine if you could be at the office without the commute. You would still have that sense of presence, shared physical space, those chance of interactions, that make your day all accessible from anywhere.

I like the idea of being at home and still having that sense of presence. It will eliminate boundaries in a literal sense. Let's see whats more Metaverse has to offer.

Your space where you can tune out distractions (Source: Youtube)

“Imagine a space where you can tune out distractions and focus on the task at hand.
…also announcing 2D progressive web apps for the quest store. With new developer Frameworks, they're easier to build…
This starts bringing more of your 2D internet services into the Metaverse.”

It's a smart move from Facebook to allow the integration of existing 2D applications into the Metaverse. It will help companies to transition from traditional workplaces to Metaverse smoothly if they decide to transition.

…you can log into Quest with an account other than your personal Facebook account. We're starting to test support for work account soon…

Another example of Facebook is thinking about every aspect of Metaverse and how we will interact inside it. Making it possible to access Metaverse without needing to connect your social media account is big.

So, any guesses which company other than Facebook will adopt or transition to Metaverse first? I think only time will tell.

5. Education in Metaverse

There are already many companies working towards creating innovative ways to help people learn and practice new skills. So let's see what Metaverse has in store for us.

Eduction in Metaverse (Source: Youtube)

“…Learning won’t feel anything like the way we've learned before. You'll be able to pull up schematics you're studying, or maybe even the service manual for a vehicle you're learning to repair. Let's say you're a med student or a doctor, you can learn new techniques and surgery firsthand practicing until you get it right…”

Learning complex subjects in Metaverse will clearly be more effortless and fun. And as the complexity of products we are developing increases with time, the ability to visualize them will immensely help during their development.

The question now is whether the people with the skills in different subjects would be able to create such experiences in Metaverse easily or not. The quality of the developer tools offered by Facebook will decide the progress of this ambitious project, Metaverse. It is clear that Facebook is aware of the fact and is allocating a dedicated budget to educate creators.

“…we're setting aside a hundred and fifty million dollars to train the next generation of creators to build immersive learning content and increase access to devices. And to help more creators make a living, building AR effects using spark AR. We're going to establish a professional curriculum and certification process making it easier to monetize and put Spark AR curriculum on Coursera and EdX.”

I hope all these efforts bring fruit and aid in the development of Metaverse. Let's see how Facebook envisions Commerce inside Metaverse.

6. Commerce

Buying in Metaverse (Source: Youtube)

Commerce is a big part and one of the pillars that will support Metaverse. Creators, developers, and businesses should be able to create and sell their products easily. Not only that, as Facebook is trying to create a virtual world, buying and selling should be as close to as we do in the physical world. Here are some basic principles on which Facebook is building Commerce inside Metaverse.

“…we've also learned what it is like to build for other platforms. And living under their rules, has profoundly shaped my views on the tech industry. Most of all, I've come to believe that the lack of choice and high fees are stifling innovation, stopping people from building new things, and holding back the entire internet economy.
We've tried to take a different approach…
…our approach is to serve as many people, creators, and businesses while keeping fees as low as possible and offering choice.”

I liked that Facebook addresses the point of marketplaces monopolized by certain big tech companies, making it difficult for creators and developers to innovate and scale quickly. Thus, having multiple marketplaces hosted by different companies will offer choices to both users and creators. It will promote healthy competition, hence keeping prices competitive. Let's see what does buying a digital product inside Metaverse would mean.

Today, what you buy on the internet is inside a single app, website, or game. You might buy a custom skin for your gaming Avatar, but you can't take it with you when you move to a new space. This is a world that would be the equivalent of buying your favorite sports teams Jersey and never be able to wear it outside the stadium. In the future, you will be able to buy digital clothes for your avatar and then wear them in the Metaverse more broadly.

The ability to use the digital goods bought in one app in another changes everything for both users and creators. For example, users would now be more willing to buy their favorite avatar or costume, knowing that they can use it at other places in the Metaverse. Similarly, developers worldwide have to work together to enable the interoperability of digital goods inside and outside of their apps. It seems Facebook is aiming to redefine internet standards and how we build and use apps.

Frankly. If a Creator builds any experience, all of their fans should be able to enjoy...
They'll sell both physical and digital Goods as well as experiences and services. And they'll be able to use ads to ensure the right customers, find what they've created.

As we are on the topic of commerce, would users be able to resell their digital goods? Facebook is working on this topic, too, to bring buying and selling experience to the next level.

“We are also exploring new types of ownership models and entitlements, to ensure people feel confident that they actually own something. This will make easier for people to sell limited edition, digital objects like NFTs, display them in their digital spaces, and even resell them to the next person securely”

To summarize the success of Metaverse in one sentence: a new virtual space or world created by man which can merge with the physical space seamlessly or can exist on its own.

The day when we would not be able to differentiate between the virtual and the real world will mark the true success of Metaverse. Honestly, it is both scary and exciting to me. Let me know how you feel about Metaverse in the comments.

Privacy

Privacy is a very sensitive topic, and it seems Facebook is taking it seriously. However, would that be enough? How will anyone define the boundaries? We are trying to bring people to a completely different world, which means the hardware and software need to know everything about the user. Without tons of user data, creating such experiences is impossible. And once the user is inside the Metaverse, whatever they do will generate data that will be saved and processed by companies.

Currently, companies record our voice, messages we type, our locations, etc. Now they will start recording everything left, including our hand gestures, how we roll our eyes, walk, chew our food, body temperature, mental state, etc.

Who stops them from analyzing what we are thinking in our heads and showing us advertisements based on our mental state? In worse-case scenarios, the government may use this technology to act against individuals even before they do something. In short, how companies or anyone will know that it is crossing the boundary and breaching privacy. Let's see how Facebook is planning to tackle the long-debated topic of privacy.

…interoperability, open standards, privacy ,and safety need to be built into the Metaverse from day one. And with all the novel technologies that are being developed, everyone who's building for the Metaverse should be focused on building responsibly from the beginning.
…At Connect last year Boz outlined our responsible innovation principles…

Facebook's Innovation Principles (Source: Youtube)

…being transparent about how things work, what data is collected, and how that data is used overtime…
…we need to make sure the human rights and civil rights communities are involved.

It is clear that Facebook is serious about privacy. And the principles laid down by Facebook will help developers and companies to develop responsibly; however, I am still skeptical about defining boundaries. There is no to very little privacy in the present online world itself, and businesses are struggling to implement them effectively right now. I can only imagine how it may be in the future. Either we will accept it and, with time, forget about what privacy looks like, or the world will divide into two sections; one who will accept the new world and others who don't.

My final words

The next decade will be fascinating. Engineering at its best, where we are developing groundbreaking technological marvels like autonomous driving, traveling to space, creating virtual worlds, gene therapy, etc. We like it or not; this is happening. And the more connected the world and the objects inside it will be, the less privacy, physical contact, and contact with nature.

Although the very definition of privacy will change, I am still very excited about Metaverse and would like to see it come to reality. Like any tool and technology developed by humankind so far can be used to hurt and help people. The same goes with Metaverse. It is up to the creator and user of this technology whether to use it to help or hurt others.

From the investor's point of view, I think Facebook is a company that one should follow closely. And it is a company in which I would love to invest.

I really want to know your thoughts on Metaverse and how you think it will change the world we live in today.

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Ankit Goyal
Master Investment

Agile coach, founder of “master investment”, and a writer. Discovering myself anew by writing and vlogging — masterinvestment.official@gmail.com