While the metaverse is still very much in an ideation phase, its possibilities and capabilities are already causing a stir. One of the biggest misconceptions that the average person has is that the metaverse will have use cases in gaming alone. In reality, the metaverse will change every aspect of the consumer experience. Be it content consumption or buying goods and services, everything will be different in the metaverse. The impact of the metaverse, when it is fully realized, will be no different from the impact of the internet.
One of the areas where the metaverse will have a positive impact is sustainability. This can be achieved in several ways. First, eliminating physical storefronts and experiences will come with their share of benefits for the environment. Secondly, scalability on the metaverse will have no impact on the world around us. However, as we look into these possibilities, it is important to consider the other side as well.
For starters, the metaverse will need a separate economy to operate itself. If it has to be a truly sustainable solution, it cannot run on fiat money. At the same time, mining and using digital money comes with its share of problems for the environment. It is no news that Bitcoin and other cryptocurrencies consume huge amounts of energy.
If we are able to find a way of making the digital economy more eco-friendly and sustainable, the metaverse will have a net positive effect on the environment. But as things stand now, the metaverse does not really offer anything path-breaking in terms of sustainability.
