Does a non-utilitarian Metaverse serve any purpose?

The Metaverse today is more than just a concept. Or a platform that many don’t understand. It is a whole new world that intrigues, baffles, and often confuses the world at large. It is a virtual world; a digital world; and to many, an unrealistic world. But it is a world that possesses staggering potential that can benefit mankind, if tapped correctly?

The appeal of the Metaverse lies in its versatility, which currently seems to have caught the attention of people worldwide. It offers them a virtual world in which they can function freely behind the anonymity of ‘avatars’, as they party with their peers; spend hours gaming; attending events; living it up virtually at concerts; and generally, live out their fantasies. 

Furthermore, the capabilities of Metaverse as a marketing tool has also taken the world of branding by storm. Marketers today, are tapping into its potential to reach multiple markets worldwide. Its ability to capture the interest of the ‘millennial’ segment is its primary strength in the eyes of marketers, big and small.

Notwithstanding its popularity as a source of entertainment, and as a marketing tool, how useful can the Metaverse really be? Can it be tapped to bring about change in the fields of education, ecommerce, government services, and workforce skilling? Can it deliver actual, realistic benefits in different spheres, to people residing in the farthest reaches of the world, by offering immersive, virtual realities?

Is India ready to take on the Metaverse?

In an increasingly digitized world, India, although undoubtedly acknowledged as a hub for IT and ITES, is still to develop the requisite infrastructure to make the most of the Metaverse. Several factors such as government policies, and the telecom players, are yet to work out a blueprint for the availability of 5G technology. As of now 26% of the country uses smart phones and 5G penetration hasn’t started yet. Additionally, current network speeds and technology are a long way away from enabling Metaverse to reach every corner of the country. 

Hence, the road ahead may prove to be long and arduous. There are doubts about accessing the Metaverse easily, thanks to the necessity for hardware that is highly sophisticated and prohibitively expensive. This is a niche area because the Metaverse calls for low-latency broadband that is robust and fast – which should be accessible by all and sundry. 

So, what does India need to do to establish its presence in the Metaverse? Does it call for the evolution of a new version of Metaverse? Maybe a Lite or no-frills version that can be efficiently accessed on every smartphone, at low network speeds, without being dependent on AR/VR devices? And, of course, without being limited by the lack of a tech infrastructure, and hence, not being limited to just a few. Indeed, a far cry from the present situation in India – where students in rural areas are resigned to hours spent in downloading a mere 1GB of data on the local broadband connection. So for India to be ready for Metaverse, the tech infrastructure has to become better and the Metaverse approach has to change from gamification to utilisation/functional.

India is not alone in this – even technologically advanced nations such as USA have issues with connectivity. There is no denying that Americans in rural areas also lack access to high-speed, affordable broadband. Hence, this is a global problem that many countries are looking to solve to enable access to all that the Metaverse has, to offer. And to enable digital inclusion across the board, for communities everywhere.

The importance of developing 5G technology is obviously key to tapping into the vast potential of the Metaverse – evident in the efforts made by many countries. USA has made 5G available in 279 cities, while China has rolled it out in 541 cities, UK in 54 cities and South Korea in 85. Not to be left behind, the Indian government has announced the availability of 5G across 13 cities by the end of 2022, including Delhi, Mumbai, Kolkata, Bangalore, and Chennai. But this is only the first step in a series of many ahead.

How does Metaverse affect participants’ perceptions of reality and what does it mean for India?

The responses that can be expected from participants and their experiences within an immersive, virtual reality system, can form the basis of strategies to upgrade technology, disseminate information, and enhance skills across communities, across the country. More so in a country like India which has large pockets of rural communities with little access to technology. 

A utilitarian Metaverse can make a world of difference in a vast country like India. This includes offering opportunities to students from rural communities to attend classes, virtually; enabling skill development classes to be conducted; and enhancing ecommerce activities for shoppers to experience the true values of products and services. The learning & training industry will be the biggest beneficiaries as the virtual word will make education more accessible and will democratize the entire realm of learning.

Indian industry leaders present at the World Economic Forum’s Annual Meeting spoke of their efforts in establishing their participation in the Metaverse, that include sports training programs; rural education programs; and retail commerce. To name a few. If we take the example of the ecommerce industry, Metaverse will make shopping more immersive and real. This will reduce the average return rate of 18.1% to half for sure. This is going to make the ecommerce business profitable very easily.

But, in a country with smartphone penetration of only 26%, efforts need to be stepped up if India wants to make its presence felt in the Metaverse which, according to research, is slated to grow by 2024, into an $800 billion market. 

Tapping into a utilitarian Metaverse can be a game changer for India

Contrary to popular belief, there is more to the Metaverse than gaming, and social networking. It possesses immense potential just waiting to be tapped, in the fields of education, ecommerce and skilling. Building on the strides made by the EdTech sector during the Pandemic as it replaced traditional schooling, the Metaverse offers opportunities for skill training and technical training to people across the country – virtually. Enabling the availability of a wider pool of skilled manpower across industries.

It is now time for India to upgrade its technological capabilities, increase connectivity and reach out to remote communities to make the most of a Metaverse with benefits.

END OF ARTICLE