Metaverse: Still Loading

It Was Supposed to Be the Next Big Thing

Remember the Covid pandemic in late 2020? Boredom and a desire for escapism was not in short supply. For some of us, the “metaverse”, or the idea of it, offered a potential stopgap for restlessness and the desire to explore a world larger than the living room or a masked walk around the block.

For others of us, we were either unaware the metaverse existed or saw a headline somewhere and thought “what the hell is the metaverse?” For many, the answer was probably something techy, mysterious, and far off in the future.

Well, it is now 5 years into the future and the metaverse has arrived–sort of.

Those initial headlines promised virtual real estate empires, digital fashion runways, and entire lives lived online. For some of those early pioneers those promises became a “virtual” reality. Then, just as quickly, the buzz seemed to vanish. Meta shifted its focus to AI. Critics declared the metaverse “dead.” And for many people, it became a punchline rather than a promise.

But that’s not the full story.

The metaverse didn’t disappear — it just slipped into a quieter, more thoughtful phase of development. And whether you realize it or not, pieces of it are already taking shape around you.

What Is the Metaverse… Really?

Think of the metaverse not as one single platform, but as a collection of interconnected, immersive digital experiences. It’s what happens when we blend our physical and digital lives using technologies like:

• Virtual reality (VR) and augmented reality (AR)

• Digital avatars and social spaces

• 3D environments for work, play, and learning

• Blockchain-based economies, NFTs, and interoperable assets

It’s not just about wearing a headset — though that’s one gateway. It’s about new ways to interact, collaborate, shop, attend events, and even express identity online. Just like the internet began with basic email and web pages, today’s metaverse feels early — but foundational.

Everyday Life, Digitally Reimagined

Here’s how the metaverse might actually become useful — not flashy or futuristic, but practical:

• Work: Instead of another Zoom meeting, imagine brainstorming around a virtual whiteboard with teammates around the globe. Microsoft Mesh and Meta Horizon Workrooms are already doing this.

• Education: History class could involve standing in ancient Rome. Science could mean exploring cells at full scale. Tools like ENGAGE and ClassVR are already in schools and universities.

• Health: VR therapy, AR-assisted surgeries, virtual fitness classes — from anxiety relief to stroke rehab, healthcare is already experimenting in immersive ways.

• Shopping: Want to see how a couch looks in your living room or try on glasses virtually? AR-powered shopping experiences are already live from brands like IKEA and Warby Parker.

• Entertainment: Fortnite concerts, VR social games, and virtual events from Coachella to the Olympics offer experiences you can’t replicate on a flat screen. These are increasing in frequency and popularity already.

• Family & Social: Want to play chess with your sibling across the country — or just hang out as avatars in a digital lounge? That’s already possible in platforms like VRChat and Spatial.

Where Are We on the Hype Cycle?

According to Gartner’s Emerging Tech Hype Cycle, the metaverse has passed its peak of inflated expectations and is now in what they call the “Trough of Disillusionment.” That’s the awkward phase where reality checks set in — clunky hardware, unclear use cases, high development costs.

But it’s also the stage before true innovation starts.

We’re seeing a pivot toward:

• Enterprise adoption: Industrial simulations, remote training, and digital twins

• Refined platforms: Apple’s Vision Pro and Meta’s Quest 3 are vastly better than early VR

• Cultural shifts: Gen Alpha is growing up with Roblox, Minecraft, and VR concerts as normal

Like the early web or smartphones, it won’t be one big launch — it’ll be a slow but steady evolution.

The Gartner Hype Cycle for the Metaverse (2022)

Another way to look at the metaverse’s development is in its growing market value.  According to Grandview Research, the metaverse has a projected market value of $937 billion by 2030. As the metaverse infrastructure grows, its move towards mainstream acceptance will soon follow.

What’s Holding The Metaverse Back?

Several big barriers remain:

• Hardware fatigue: Not everyone wants to wear a headset for hours

• Interoperability: We’re still far from a truly “connected” metaverse

• Experience design: Many apps are experimental or underwhelming

• Cost and access: Entry still feels high for mainstream users

• Trust and privacy: Who owns your identity or data in a metaverse world?

Why The Metaverse Is Still Worth Watching

Despite the setbacks, billions are still being invested in building this future — by Apple, Meta, Nvidia, Microsoft, Roblox, and startups across the globe.

And here’s the key: the metaverse won’t arrive as a single product. It will arrive in fragments — a little immersive here, a little AR there — and slowly become part of your digital life.

The question isn’t if it will matter. It’s when it will become seamless enough that you don’t even notice it’s the metaverse.

Final Thoughts:

We’re in a transitional moment. For most people, the metaverse still feels distant — maybe even disappointing. But don’t confuse a quiet moment for a dead one.

Just like the web didn’t start with Google, and mobile didn’t start with Instagram, the metaverse is still loading. And when it’s ready, it won’t feel like a revolution. It’ll feel like the next obvious step.Stay ahead of the curve with the latest in Web3 culture and innovation. Subscribe to Hashed Out for exclusive insights, case studies, and deep dives into the decentralized future.

Other Articles In This Issue:

• Editorial: I Stepped into the Metaverse. It Was Stunning… and Then a Bit Strange.

• CHECK OUT OUR PREVIOUS EDITIONS