Meta recently admitted that the concept of the Metaverse is essentially just virtual reality (VR). The revelation comes as the social media giant lobbies against what it deems to be arbitrary network fees that would make it more expensive for users to participate in the Metaverse.
The Metaverse, a term coined in Neal Stephenson’s 1992 novel Snow Crash, has recently become a buzzword in the tech industry, with many companies investing heavily in developing the concept. It is often described as a shared virtual space where people can interact with each other and digital objects in a fully immersive environment.
However, in a recent blog post, Meta clarified that the Metaverse is essentially just VR with added social features. “The Metaverse is not a new thing,” the company wrote. “It is simply the next generation of the internet, where immersive 3D experiences will become the norm.”
This admission may come as a surprise to some who have been eagerly anticipating the development of the Metaverse. However, Meta’s focus on social features makes sense given its origins as a social media platform.
The company is also lobbying against what it deems to be arbitrary network fees that could make it more expensive for users to participate in the Metaverse. In a recent letter to the Securities and Exchange Commission (SEC), Meta argued that these fees would harm innovation and competition.
“Arbitrary fees that limit interoperability and innovation have no place in an open and competitive marketplace,” the company wrote. “We urge the SEC to ensure that these fees are based on actual costs and are not used as a tool to harm competition.”
Meta’s lobbying efforts may be an indication of how important the Metaverse is to the company’s future. With the Metaverse expected to become a significant part of the digital landscape in the coming years, it is likely that other companies will also be investing heavily in developing the concept.