Anything unknown may look scary to many of us. If we don’t know something for sure, the risk percentage increases, which has pros and cons, and we become a piggy in the middle while listening to our two inner voices. On the one hand, there is the attraction of adventure; on the other hand, the comfort zone calls us with arms wide open, just like mom did when we were kids. That may be why we feel attracted and scared at the same time when we watch sci-fi movies. Since we identify with the protagonist, we feel both satisfied with their success, and at the same time, we feel relieved since we are sitting on our couch and safely home.
While talking about Metaverse, any of us think of something different since it is a possibility that also is unfamiliar to us, so Metaverse also represents the ‘unknown’ for a great majority except for the ones actively involved in high tech. The Metaverse is not too far from a sci-fi movie for laypeople.
Imagining ourselves as a Sims character in a limitless world doesn’t look impossible, but at the same time, does it really make sense? Or do we pretend as if we got it? Is it really a part of human evolution, as some experts claim? Is it really inevitable, or do we shape the world into something virtual on purpose? What is going to be the role of law in that sense?
The answers to these questions may depend on our perception; however, one thing is certain. No fixed answer is acceptable for us all. As an inevitable result of being a social animal, for humankind, any drastic change shaping the way of living will end up in social and psychological paradigm shifts. Remember the days when we had our first online conversations with “unknown” people on other continents? The identical excitement was there; however, we were unaware of the potential risk factors ahead of us. Nor were the judicial systems. And unfortunately, even cyberbullying has been recognised as a crime recently.
That is a relatively new step taken in the criminal law systems because the action shares the detailed history of the existence of the Internet. So, throughout this period, many users remained unprotected. Still, today, the legislation is one step behind technological changes. First, we experience it and then try to figure it out. Because the concept itself is unknown, and no matter how much effort has been put into it, our assumptions are deemed to fail since we cannot be 100% certain before it starts to function.
“Hell of simulation, which is no longer one of torture, but of subtle, maleficent, elusive twisting of meaning…”
With reference to the above-mentioned prominent quote from Jean Baudrillard in Simulacra and Simulation, the social perception of reality becomes closer to simulation, and the meaning loses its existing form and becomes something new. Even 25 years ago, ‘having a business meeting’ indicated a situation in which we followed a specific dress code, were present in an official location and took our personal notes, which were not visual to the eye of the others.
However, today, we may have a business meeting in our living room, wearing our bottoms, but on the frame, we appear in line with the dress code. We may take our notes online, which simultaneously appear on other participants’ screens via numerous instruments. So, the meaning changes. Perception changes. Way of living modifications. Everything changes depending on the paradigm shift.
What is Metaverse exactly?
The definition of Metaverse refers to a sci-fi novel, Snow Crash, from the potent 90s as a portmanteau of “meta” and “universe.” This revolutionary book tells about a utopia (!) where we, humans, are programmable avatars interacting with each other in a 3D virtual space as an analogy for the true-to-life world. Does not it remind you of something? This is precisely what we have been through since Facebook and Instagram were founded.
When Mark Zuckerberg published Facebook Metaverse in 2020, he introduced and pledged us a platform in which users will express themselves more genuinely and partake in this man-made world to the fullest. The Metaverse concept evolves into a promised utopia where users have the inherent feeling of “being” in virtual reality – something beyond our most eccentric dreams.
Metaverse claims to be an alternative world to the tangible one, where anything would be more accessible. That may bring the world the presently missing justice. Therefore, on the bright side, we see a world of wonders where equality is no longer a dream. Without being bound by our existing limitedness, we may live an alternative life with different looks, at a different level, and so on.
From the first look, it seems it may end up in a split persona; however, there is no doubt that it will increase our satisfaction in life at the early stages. As with anything associated with the concept of the ‘unknown,’ Metaverse also attracts people to be a part of it and simultaneously creates abstentions to itself. Taking the courageous majority of humankind into account, we may assume that the attraction will prevail in this fight.
Is Metaverse a good investment long term?
The concept of investment is also highly linked with the idea of the ‘unknown.’ In finance, nothing is for granted, especially when the economy is in crisis. Theoretically, it is possible to guess the future steps of any investment instrument; however, since humankind’s free will is involved in the train to opt for, even professional expectations may come to nought. So, while making our investments, we act like treasure hunters. We have the equipment in our hands, and yes, we also have a map and flashlight, leading us where to go. However, we can never be sure whether we will find the sacred treasure of the king or not.
At this point, we generally follow in the footsteps of the former or the professional experts. As it can be seen, now we will be dependent on their choices, in other words, on their personalities. If the one we trust is a Locksmith, then we will invest in the known, like gold, which has been the attraction point for investors for centuries.
Foreign currencies of good economies, the world’s giant companies’ stakes, or other investment tools become less safe than gold’s tangibility and preciousness. However, if we consistently remain on the safe side, we may never find the sacred treasure of the king, which is probably hiding under the unsteady rock, which we refrain from stepping on.
So, how can we be safe and at the same time achieve more?
A great majority of economists insist on indicating the importance of making investment bundles, a little bit of this and a little bit of that! According to this approach, since we split our risks into numerous instruments, we’ll have more chances of remaining on the safe side and making a small but granted fortune instead of hitting the jackpot.
As we can see, when talking about a potential investment in Metaverse, we face a combination of two unknowns, so we will have a double unknown ahead of us! The attraction doubles itself; the fear and reluctance also double themselves automatically! Therefore, the question of whether to invest in Metaverse or not is difficult to answer, and it will remain on our agenda since it will become a part of our new reality.
However, looking from a financial point of view, investment is an action we should take at the right time. So, if we are willing to be a part of this adventure, the investment decision should be taken at the earlier stages of this transition. So, the earliest time possible is the right time in that sense.
We should consider our expectations for this investment in detail before we decide. What do we expect? Are we going to roll the bones, wish for all, and risk getting nothing? Are we going to keep both feet on the ground, close our eyes to a potentially huge gain, and miss an opportunity ahead of us? Or will we balance our expectations with our current reality and create an investment bundle in which we split our risks into numerous investment instruments, including Metaverse?
Should I invest in Metaverse?
The choice is ours because our personalities shape our presumptions, perceptions, and expectations. The risks we can bear vary from one another. The meaning of a specific monetary amount varies depending on our income levels and lifestyles. It would be wise to allocate a percentage to Metaverse in our investment bundle, enough to feel a part of the drastic change and not to blame ourselves in the future for not taking action.
Undoubtedly, Metaverse is coming! This is unavoidable! A brand new path to the view of reality, digitalisation, and mingling with others. Will this new universe be a medium for soaring socialisation among us, or will it turn into a catastrophic casting out separating us from what is fact or fictitious? We have no idea, just guesses.
Some analyses point out that this is an unskippable part of human evolution. However, are we humans ready for this massive step of virtual reality? To exist in two universes at the exact moment? Metaverse presents a frame with sunshine and pink roses, yet as we all know how we destroyed even this real one in our merciless and selfish hands, Metaverse issues can be carried out into our world. Will we have higher authorities regulating our actions? Are lawyers professionalised on Metaverse?
Since the Internet is already full of harassment, the corruption of family relationships, and a meeting point for dangerous ideas, investors must consider the dark side of a likely Metaverse investment. But hey, at the end of the day, all acquisitions have pluses and minuses. Right? And let’s not forget the notable quote of Warren Buffett, the prestigious American business magnate and investor; “I will tell you how to become rich. Close the doors. Be fearful when others are greedy. Be greedy when others are fearful.”