“Metaverse technologies will require a great deal more data to be collected than is already collected in social media, such as how you’re turning your head and where your eyes are focused just to position displays correctly,” Barerra says. There will also be new impacts on consumer privacy because the amount of rich and detailed data collected by these apps are juicy targets for criminals and marketers. As platform providers jostle for dominance, expect similar risks in the metaverse to those we’ve seen on social media such as phishing, pharming, impersonation, disinformation, and inroads for ransomware.

New privacy and security issues will arise within these 3D worlds.

“Just as the internet, e-commerce, social media, smartphones, and remote computing have in the past two decades changed the ways companies operate and reach their employees and customers, organizations are now experimenting with the metaverse because they are seeing this as an extension of prior transformations,” says Cathy Barrera, founding economist of Prysm Group, which partners with the Wharton School in teaching executive education programs on metaverse business and blockchains.

They’re also rendering spatial apps around travel, car sales, manufacturing, and architecture in what Citi predicts will be a $13-trillion market with 5 billion users by 2030. The metaverse is coming businesses and government agencies are already building virtual worlds to support city services, meetings and conferences, community building, and commerce.

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