Spanish version published on Medium
“The metaverse is the future.”
“Find out how the metaverse will transform our lives.”
I am sure that in the last couple of months, you have read headlines about the metaverse. It is often touted as one of the most exciting projects that has emerged from Blockchain’s industrial development. However, does the metaverse really exist?
Different brands have jumped in to this virtual world to take advantage of its perceived opportunities. However, we must recognize that there is still no completely functional metaverse.
The union between the virtual and the real world is indeed exciting, and an excellent opportunity for brands. However, a virtual world that is truly accesible everywhere, that can connect people all over the world, doesn’t exist yet. It won’t be created overnight, either.
So, why do brands make such a financial investment in something that does not exist today? Does it make sense for them to wander into this virtual reality world?
The truth is that these brands, like us, suffer from FOMO—the fear of missing out on something exciting or meaningful, and being left behind. This fear has been instilled in them, causing high expectations that often leave them disappointed.
And what about us? Will we be able to live in the metaverse without FOMO? Will we disconnect from reality because we’re scared of missing out on the virtual world?
The truth is that the metaverse does not substitute reality. However, it represents an evolution of reality, which is why we will still have the social anxiety of missing out.
While writing this, I realize the number of decisions and purchases I have made due to social anxiety or FOMO. Did I need to take advantage of that sale at my favorite store? Did I have to go to the event I didn’t want to go to? FOMO can be a powerful motivator, but it’s not always the right reason to do something.
-Manuel Barreiro Castañeda-