As featured in Acceleration Economy Network
What would you get if the IoT (Internet of Things) and the metaverse got together and had a baby? What are the opportunities that might arise out of that union or intersection? To be honest, this is probably one of the more difficult prognostications to make. Why? Well, what is the metaverse? What is the IoT?
The metaverse is the buzzword du jour. As far as a definition goes, there are many. Some folks call it virtual worlds, some call it some experiential outcome of Web3 which is alleged to be the next big transformation of “the Internet”. Some believe that it is going to be a blending of virtual and physical worlds into a cyberphysical mashup. One thing is certain, the metaverse is at best a blob. It is a buzzword that is highly overloaded and constantly morphing in scope, variety, and form. In simple terms, the metaverse is a virtual world that hosts a virtual community.
The Internet of Things, or IoT, is probably as expansive and overloaded a concept as the metaverse. At its core, IoT is about instrumenting things, connecting them, and applying analytics to extract meaning and insights from the data harvested from the long-prophesied tens of billions of connected IoT devices. The IoT Industry is famous for its struggle to reconcile years of inflated expectations and a long legacy of having been there before the term “Internet of Things” was coined. The IoT continues to expand in scope in search of a TAM that will fulfill the lofty promises of an IoT of connected devices and economic benefit.
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