Several online visitors were unaware of the fact that the idea of the internet as a secure zone was a myth until the Cambridge Analytica controversy emerged in 2018. The sheer nature of the internet makes users become data breeders, since each new interaction creates yet another data set on the user. So goes the history of Web2. The arrival of Web 3.0 should serve as a caution signal for the Metaverse idea, which refers to the platform’s plans to deploy immersive technologies that would provide users with otherworldly digital events. Bloomberg has forecast that the virtual world of Metaverse would expand rapidly in the next few years. By 2024, it will have increased by a stunning $800B. It means that there will be a large number of people, which will lead to a lot of transactions, which will lead to chances for marketers and developers to be ready for the size, potential, as well as danger of the Metaverse’s content plans.

What is Metaverse?

The “Metaverse” is a fictional version of the Internet that serves as a single, ubiquitous, and immersive virtual environment accessible via the use of Augmented Reality and Virtual Reality headsets. A “Metaverse” in common parlance is a set of interconnected socially-oriented 3D virtual environments. As a combination of “Meta” and “universe,” the word “Metaverse” was coined in the science fiction book Snow Crash published in 1992. Growing needs for total submersion are frequently cited as a reason why advancement of the Metaverse should be coupled with the improvement of VR tools. Web3, a proposal for a decentralized version of the internet, has recently spurred the growth of interest in Metaverse growth. For public relations objectives, terms like “Web3” and “Metaverse” have been used to overstate the development status of numerous related technologies and initiatives. The difficulties encountered by the social networking websites and video game industry as a whole are mirrored in the Metaverse, where issues like information privacy, user addiction, and user safety are raised as major issues.

Do Privacy and Metaverse Conflict?

When more people start interacting with each other in Metaverse, a flood of personal information would be gathered. Because of the persistent nature of the Social Media Metaverse platform and the length of time it will be utilized, a deluge of granular user data will be generated upon its introduction. Because the internet is meant to save the techno-signatures of its users, it is theoretically impossible to erase all traces of one’s online footprint. Marketers may use this information to create more relevant and engaging adverts for specific consumers without their knowledge. Metaverse users may have trouble telling the difference between genuine and sponsored material. However, CIOs are slow to embrace the concept of the Metaverse because they are still playing catch-up with their digitization efforts and are still at the strategy-outlining stage with regard to artificial intelligence.

How to Get Out of This?

Due to the decentralized and democratic nature of Web3, it is possible that user data may be utilized differently than it is now. In this way, Metaverse serves as a reward for safe data storage. When it comes to protecting users’ personal information, Web 3.0 will need to begin from the beginning if Metaverse is going to realize its aim. Establishing and adopting Metaverse interoperability standards calls for the establishment of several layers of technical standards and protocols. When it comes to implementing interoperability as well as safety standards, the Metaverse Security Forum, which is responsible for setting the rules and regulations, has no idea what it’s doing.

Given that it took GDPR 20 years to apply the Data Protection Act of 1998, it is clear that governments cannot enforce privacy at Metaverse. At the moment, only corporations and Metaverse users may take any meaningful action, either for themselves or for their direct beneficiaries. Organizations need to establish rules that define who is liable for data breaches, how users’ permission is obtained, and how and when the privacy notice is shown.

Disclaimer: The author’s thoughts and comments are solely for educational reasons and informative purposes only. They do not represent financial, investment, or other advice.