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You might not have heard of it, but chances are your kids have. Roblox created a virtual platform where users can make their own games. While playing the games is free, users can buy virtual currency called Rubux to purchase add-ons for the games - and the company is making serious money. Epic Games Entertainment company Epic Games, makers of Fortnite, also see huge potential in the metaverse. Nike Why does a sneaker company want to join the metaverse?

Sportswear giant Nike is thinking ahead to the days when users might want to buy virtual products, such as Nike activewear, for their avatar - if you and your buddies are shooting virtual hoops, you want to look good while doing it. Nike has filed several trademark requests for selling virtual products with its logo and brand. However, this also raises the bigger question of how trademarking and counterfeit goods will be regulated in the metaverse, with Nike taking preemptive measures to protect itself well before the metaverse is realized.

The concept of the metaverse offers more questions than answers when it comes to international tech regulation. In a virtual world, who is the governing body of the metaverse? How do companies protect the privacy, facial recognition, and personal data of metaverse users?

Meta has touched on this, mentioning in its keynote speech how its metaverse vision includes safeguards for user safety and even for preventing avatar identity theft, but little is known as to how, if at all, the metaverse will be governed, regulated, and controlled to ensure user privacy and protection.

In November , Meta announced several governmental and nonprofit partnerships, including Peres Center for Peace and Innovation in Israel, that will collaborate on how to build the metaverse responsibly. Ready to jump into this exciting new world? Not so fast - the metaverse, as envisioned by Zuckerberg, is still years away. But when or if the metaverse comes to fruition, how will we access it?

Hardware will play a big role in metaverse access, with users purchasing their own virtual reality headsets to transport them from their living room into their metaverse world. While Facebook already has its own Oculus headset and has teased the arrival of a newer headset for , there are a number of other companies with their own VR headsets, including Samsung and HP. Users will be able to customize the virtual version of themselves in every possible way, including selecting height, weight, skin color, head coverings, body type, and even facial hair.

Security measures will need to be paramount in the metaverse login process, ensuring that the right person is logging into their own metaverse account. This could include measures such as passwords , retina recognition, or two-factor authentication. Think about how many physical things you have today that could just be holograms in the future. However, will the metaverse become a digital utopia where we can connect with friends from all over the world instantly, watching concerts and playing board games?

Or, is it likely that the platform will never gain critical mass? Social chats with friends might become more immersive and gaming enthusiasts will definitely enjoy the possibilities of the metaverse. Imagine stepping into your favorite game with all of your friends and not just playing on a 2D level, but by actually putting yourself into the world of the game?

There are seemingly infinite ways how a fully-realized metaverse could revolutionize how we socialize, relax, or even date. However, not everyone is eager to socialize digitally. Loneliness and isolation could still weigh heavily against the metaverse since nothing can replace a hug, a handshake, or a smile. More and more workers are embracing remote work , seeking out companies that allow working from home, or ditching the traditional career path for freelance or entrepreneurial opportunities.

When you want to be able to work from anywhere in the world, the metaverse could theoretically be a gamechanger in how we connect for business purposes, especially on a global level. Or, hand an avatar colleague a file that they can download in their own time at home.

Workers can work from home, ditch the commute, and have more time with their family and friends. Despite the benefits of remote work for staff morale and retention, many businesses still cite concerns about productivity and time monitoring as hindering them from allowing staff to become fully remote.

From a commerce perspective, the metaverse is likely to open up many new shopping opportunities. Business owners can set up shop in the metaverse, content creators will have a new platform for sharing content and video, and how we shop online could change, letting you walk into a clothing boutique in the metaverse, browse for new outfits, then have the physical products sent to your home.

Gaming and recreation purchases are likely to play into the metaverse as well, with in-game purchases, character accessories, or extra lives just being a few ways gaming companies can make money in the metaverse. As for digital advertising? Yes, ad placement could be just about everywhere, with businesses creating specifically targeted metaverse ad campaigns, just as we currently see online and on social media.

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