There’s a lot of talk about all the promise of the “metaverse,” the next step in computing. The practical and entertainment implications of a world illustrated with immersive experiences and data are certainly staggering. But, will the cost be too staggering?
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Cost of metaverse
The Metaverse is a network of linked, immersive, communal, virtual experiences and spaces. In some ways, the Metaverse (or, at least, the building blocks of the Metaverse) is already here. In other ways, this always-on, ever-present, ubiquitous way of living within the Internet is still years away.
Like today’s Internet, the metaverse is not owned by a single entity or accessed by a single piece of hardware. There will be no “Metaverse Subscription” that you pay to anyone or a provider of any “Metaverse Console”. But, there will be costs associated with accessing the metaverse that will be paid in different ways to different parties.
Data Connection and Service Provider
You can look to the metaverse as a way to access the Internet. So, the metaverse will no longer be more free than the internet. Even though no company can charge you a toll for accessing the Metaverse, you will need some kind of internet or data connection to access it.
Few metaverse experiences run across today’s internet. But other more advanced applications, such as augmented reality, will require faster connections than what more people reach today.
If you’re already using 5G internet and high-speed data, you can take these costs lightly. But others who don’t and don’t have high-speed Internet access may feel like they’re paying extra to access the metaverse.
hardware cost
You won’t need a VR headset or AR glasses to enter the metaverse. But, if you want the full immersion that augmented reality can provide, it will only come from these devices. And, naturally, these devices have a hefty price tag.
Consumer VR headsets are becoming more affordable, but they also lack the power of more expensive headsets. In addition, those pricey headsets also require more expensive computers to run their programs. The same can be said about augmented reality.
There are not many AR glasses that a good mobile phone cannot do. But, if you want to access spatial information in that particular way, you’ll need AR glasses. Like VR headsets, AR glasses require an off-board computer of some sort. For many enterprise models, this is a dedicated compute box, but in emerging consumer models it is often a high-end mobile phone.
So, again, the costs of accessing the metaverse may be costs you’re already paying without even thinking about it. But, if you need or choose to access the Metaverse a certain way, you may experience sticker shock.
Personal experience and forum
While the “Metaverse” will not incur a single subscription fee, applications and experiences that use and benefit from Metaverse technologies may have purchase prices, subscription fees, in-app purchases, or other business models. It is again the way we use the Internet today.
Some Metaverse experiences, especially in entertainment, have a one-time price tag. Some, especially in the enterprise, have a subscription model. There are other “freemium” services that have a limited free-to-use version and a more robust option that costs money. Free experiences can also use ads or in-platform marketplaces to earn money.
uniquely metaverse ideas
So far, we’ve focused primarily on the ways in which paying for the Metaverse would be similar to paying for today’s online experiences. However, some cost and payment systems and considerations may be unique to the Metaverse.
crypto and nft
The metaverse is based primarily on two mutually incompatible ideas: producer economies and network compatibility. At least, those ideas are mutually incompatible with the way we pay for and use virtual goods and services today.
Right now, most people talk about cryptocurrency and NFTs as speculative assets. That is, as things that we buy and sell for profit in another currency, and not as things that have value and utility in their own right. However, cryptocurrencies and NFTs have functional value inherent in the metaverse. This is largely due to interoperability.
We can already buy digital assets like character customization options in online platforms like video games. However, these assets are not supported on other online platforms. This is partly because online platforms are built using different programs and languages and partly because they are purchased to avoid micro-transactions within their platforms.