In the metaverse, will big gaming eventually become big tech?

IN “READY PLAYER ONE”, a science-fiction novel set in 2045, people can escape a ghastly world of global warming and economic mayhem by teleporting themselves into the OASIS, a parallel universe where they can change identity, hang out and forget the miseries of everyday life. In the book, published in 2011, the OASIS is the brainchild of a gaming tycoon who has everyone’s best interests at heart. Lurking in the background, though, is Innovative Online Industries, an evil internet conglomerate that intends to take it all over and reap the rewards for itself.

There are echoes of this “good v greedy” narrative in the way Tim Sweeney, founder of Epic Games, creator of “Fortnite”, an online-gaming phenomenon, talks about the metaverse. The idea is in vogue in Silicon Valley and is considered the next big thing in the internet. No one quite knows what the term means; at its most futuristic, the OASIS is a pretty good analogy for what tech utopians have in mind. For now, suffice to say that if you think you have spent more than enough time online during the covid-19 pandemic, think again. Using virtual and augmented reality, avatars and lifelike computer imagery, the metaverse will further erase the boundaries between people’s online and physical lives. Unsurprisingly, big tech is salivating at the prospect of yet more realms of human...