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Wednesday, October 04, 2023


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Gwyneth Llewelyn

Like everything else, the Metaverse is "made" not by what technologies are employed, nor by how many active users is has, but rather by what the mass media say about it :-)

Unfortunately for the world, your journalist colleagues discovered that they could be on Twitter and Facebook in the late 2000s and call it "work" (or "research"), and boosted the positive aspect of social media beyond reasonability, while neglecting, say, the Metaverse we already had back then, mostly because they couldn't use it at work, much less — after 2007 at least — on a smartphone.

And certainly AI — or, better, generative AI — caught the media's attention because it's so easy to use (and abuse!) and you can get such pretty pictures to place on your articles — for free. Granted, at least some journalists might be slightly worried about LLMs taking over their jobs, so at least in this case the media is able to show both sides of the coin.

I seriously suspect that the same happened with cryptocurrency speculation and the emerging of what will be known in the future as the largest Ponzi scheme that was ever designed — at a planetary scale — with quasi-legal status (in the sense that it isn't forbidden, but it's not legally sanctioned as well, with a few exceptions): many media reporters are eager to "make some money fast" on the side, and, like all Ponzi schemes, the more people are "in it", the higher your chances to rise to the top of the pyramid and make some real money (or at least be in a position where that's theoretically possible). So, it's in their best personal interest to stoke the fire that drives up the price of cryptocurrency and cryptoassets.

While the Metaverse, by contrast, might be slowly (and very silently) making its share of real millionaires — who work very hard at creating content for others to enjoy — and soon reaching the one-billion-user-barrier (if not already gone beyond it, as you explain in your article), and getting mostly ignored or shrugged off (like it has been in the past two decades) because, well, you can't wear VR goggles at work and call it "research" as easily as you can do a few tweets and/or buy some extra cryptocash....

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