Magazine menu Close Magazine menu

metaverse

Latest stories

insight story metaverse

What metaverse experts think your business should know

  • min read
    • There's much noise about the metaverse, and a feeling business must get on board today. Should you dive in? Two metaverse experts say yes, and no. Kaspersky's new podcast, Insight Story, unpacks emerging tech trends with global specialists and businesses successfully using the tech. Episode 1 looks at the metaverse, with Cortney Harding, World Economic Forum Metaverse Council member and founder of virtual and augmented reality agency Friends with Holograms. James Whatley, Chief Strategy Officer at gaming industry agency Diva, also joins me. James's 2022 talk What Metaverse? garnered much attention from the marketing industry, debating definitions and the effectiveness of brand-sponsored 'metaversal experiences,' as he calls them. A more cynical onlooker could say the metaverse is the emperor's new (virtual) clothes. In its glitchy 2006 version I attended – or tried to attend – in-world conferences in the early metaverse, Second Life. My clever friend sold virtual shirts to passers-by, but the predicted virtual commerce revolution didn't ignite then. I was keen to explore with James and Cortney whether the metaverse is really open for business, or if FOMO (fear of missing out) and the hype cycle is encouraging investment before audiences are ready. From science fiction to (virtual) reality There's no single agreed definition of the metaverse. Metaverses are virtual worlds where users see the world and interact through characters called avatars. Using a virtual reality (VR) headset, interacting in a metaverse can feel like real life. It can mirror many real-world experiences, like shopping, going to concerts, even owning property. Some say it's 'the next iteration of the internet' or 'Web 3.0.' Metaverses like Activeworlds and Second Life have been around for over 20 years. Others exist within online multi-player games like Fortnite and Roblox. Facebook changed its name to Meta in 2021, signaling a future focus on virtual experiences. Should businesses be in the metaverse? Cortney Harding says brands should approach the metaverse from their own perspective. "It depends on your audience. If you're a bank, you probably don't need to build a metaverse world right now – they've tried, and failed." Examples abound of banks establishing an often half-baked presence in the metaverse, then quietly backing away. Cortney continues, "If you're a consumer brand focused on a young tech-savvy audience, you should start thinking about it." But it's not about audience age. "It's more, is your audience tech-savvy? And niche communities are often strong in the metaverse." According to games researcher company Newzoo, more than a quarter of gaming metaverse users are age 36 or older. James Whatley thinks brands should work to understand not just who is in the metaverse, but why. Nike's success in Roblox is often hailed as an example of a brand getting it right. Their Nikeland shop, selling virtual Nike gear, attracted 7 million visitors in its first two months. James notes, "They're doing great, but copying Nike is not a strategy – it's looking and learning from it." Cortney gleans this from Nike's success: "You must resource metaverse worlds correctly to keep them going, making sure people have reasons to return. Nike has social events, and guest speakers – they give people a reason to go there." In developing metaverse experiences, brands should consider what makes the metaverse different. "In early VR, I saw directors do what's in 2D except in a VR headset," says Cortney. "Embodying an avatar with your voice is different than typing or watching a video. How can you harness that? Think beyond replicating and get to the point where it's creating something wholly new." Metaverse for good Cortney works with clients using metaverses and linked technology like VR for the greater good. "I do VR training around racial bias, child welfare, mental health and more. It lets people be in a space they've never been in and experience things like bias or exclusion, in hope they'll better understand what it feels like." PwC research found bias awareness training in VR is highly effective: "75 percent reported a 'wake-up call moment' that helped them identify times in their past when they had not been as inclusive as they'd thought. V-learners were up to 275 percent more confident to act on what they learned after training." Cortney also sees work needed to prevent bias being 'baked in' to the metaverse as it has been with other tech. "Many who built the current internet came from the same background. We want to build a world that's inclusive and safe – one everyone can be part of." Examples of creator bias leading to tech that discriminates include, voice recognition not recognizing women's and people of color's voices because its training data sets mostly contain white men's voices. Soap dispensers, fitness trackers and heart-rate monitors have also been found to rely on users having a light skin tone. It's unsurprising women have higher rates of injury in car accidents when you learn that a truly woman-shaped crash test dummy is a new thing – previous 'female' dummies were simply a smaller male dummy. Cortney appeals to brands to stay aware of how their metaverse presence affects customers. James agrees. "I believe video games are good for building community, and they have done for decades. Whatever the next iteration of the internet, the community piece comes where humanity goes." Alongside many good experiences, research shows more than half of children who play online games experience harms like bullying, hacking and inappropriate contact at some point. Raising your metaverse understanding Cortney says companies dipping a toe into the metaverse shouldn't expect too much at first, but should be in it for the right reasons. "If you look at some websites from the early days of the internet, your eyes will bleed out of your head. We can't expect everyone's metaverse execution will be perfect at this point, but you need more of an idea than just having heard a buzzword." If you choose to go there, James recommends involving metaverse natives. "Bring in the Roblox audience to help build, because they understand it. Get people with gaming experience – they understand narrative and interaction. Make a small investment, start experimenting, have people work on it as a side project. So when things start to really shift, you haven't ignored it." He thinks brands should avoid thinking metaverse is the answer, instead considering all options. "If you want to build a community around your brand, there are other ways. Do stuff in social media. Look at your customer relationship management (CRM.) Don't close the door – be aware of it, but act when it's right for your business." Metaverse cyber risks As new tech arrives, so do new threats. What are the cybersecurity implications of the metaverse? Fabio Assolini is head of research in Latin America for Kaspersky Global Research and Analysis Team (GReAT,) uncovering and understanding cyber threats in digital environments, including metaverses. "We're concerned about the kinds of attacks already common on Meta platforms like Instagram, Facebook and WhatsApp. On new platforms, we expect the same, like fraudsters impersonating brands," says Assolini. "We also expect more complex attacks like SIM swapping, where cybercriminals hijack users' phone numbers to receive authentication tokens." Assolini is also concerned about unclear roles and responsibilities in the metaverse. "If I'm a business and investing in, say, a launch party in the metaverse, is it my responsibility to put encryption and other security in place? Or is it for the end user to be more savvy when they're joining these experiences?" 'Cryptojacking' is another concern in the metaverse. Hacking users' devices to use their processing power for mining cryptocurrency is seriously on the rise, with Kaspersky research showing a 230 percent increase in 2022. While Meta's chief technical officer says moderating user behavior "at any meaningful scale is practically impossible," business will be glad to know metaverse security concepts are roughly the same as any online, digital environment. "Fundamental security practices carry over because the architecture is the same. It still runs on a server, you have databases on the backend, user and password management, and so on," said Nick Donarski, co-founder and chief technology officer at blockchain company ORE System. Best metaverse advice for business I asked James and Cortney their best metaverse advice for business. James says, "Go the extra click. If someone sends you a headline saying this is where the future is, find out where that's come from. Who paid for that data? There's an often-cited report from McKinsey valuing the metaverse at 5 trillion US dollars. When you look at where that figure came from, it doesn't mean anything." Cortney says, "Just start learning and experimenting. It's free or very cheap to sign up to many metaverses. Create a world just for fun. Spend time talking to people. Then you'll understand what you like, what you don't like, what could be better. You'll be more informed – or worst case scenario, have some fun." Listen to the full Insight Story audio series on Podbean or your usual podcast provider.
cyber future interview

How business can use cyber futurism to see what comes next

  • min read
    • With new technologies like the metaverse arriving regularly, how can business leaders and cybersecurity professionals know what new threats to expect? Futurism – analyzing future scenarios to inform today's decision-making – is one way. Victoria Baines is professor of information technology at UK's Gresham College and a former Facebook executive and Europol officer. She uses future scenarios to understand technology today and how we should prepare for threats to come. We chat about what these scenarios reveal about our world today, what might happen with new technologies like the metaverse and what business can do to keep users safe. Gemma: What does it mean to explore the future of cybersecurity through scenarios? Victoria: Scenarios are not predictions, but if you do them right, they tell you as much about your situation now as what might happen in future. It's not just threats – it's how the world's changed, and what the tipping points may be. The pandemic was a tipping point for remote and hybrid working, but many find hybrid work just means doing all the things, all the time – the expectation they'll be available constantly for online and physical meetings. We'd been working up to that for a long time. Reliance on email was a compelling signal we needed to find something better, quieter, with less churn. I think we'll see something like that with the metaverse. We've now got the ultimate business case for it because Zoom and Teams aren't enough to feel like we're really working with people – we're still just on a call. Futures methodology is as much about exploring our present and spotting things in the past. What have you found out about the metaverse through your cyber futures work? Although there's hype and uncertainty around the metaverse, we have certainties about how it will develop. For example, Apple will probably bring out, or at least announce, a mixed-reality headset next year. However expensive, people want to use whatever Apple brings out. So we'll see people wanting Apple's mixed-reality headset in a way they haven't wanted other virtual reality (VR) headsets like Hololens or Oculus. This will significantly speed up metaverse adoption. The metaverse is less of a tipping point and more of an evolution. Roblox, Fortnight and Second Life are already metaverses. They use the feeling of presence and co-presence, and there's old research on this – academics like Mel Slater and Ralph Schroder showed us that being together virtually is emotional – it brings about positive reinforcement. We'll need AI-powered synthetic individuals to bump into in online social spaces because we need to feel like we're interacting with people – shaking hands, having sex and so on. We'll probably need 6G to power and connect all that technology, particularly if we want to use it when out and about. What security implications have you identified in the metaverse? Nothing's 100 percent secure – we must assume there'll be technical and human vulnerabilities in every aspect of VR, augmented reality (AR) and other metaverse-enabling technologies. In these scenarios, we look at all those vulnerabilities. We have signals already, like the panic around 'zoombombing' – hackers interrupting video conferencing with obscene and violent material. It happened because people shared their passwords on the open internet. We needn't panic – basic security measures would deal with it. But it shows that exploitation and infiltration will also play out in VR and AR. Are there new cyberthreats for the metaverse and related immersive technologies, or is it the same threats in new spaces and technologies? Much of it comes back to basic digital hygiene like patching, updating, and installing antivirus software. Basic 'handwashing' can do much to prevent ransomware infections. In that way, the new stuff isn't new, but we haven't given it enough attention. We've viewed online harm as less impactful – as it's not physical abuse, we treat it less seriously. With metaverse technologies, you can physically sense resistance and impact, which means opportunities for physical assault. That has an operational impact for information security and cybersecurity. What implications do these threats have for cybersecurity leaders today? Technical information and security aspects become more important in addressing psychological and physical harms in these connected spaces. Pacemaker interference with medical internet of things (IoT) signals that. We already have people walking around with internet-connected medical devices like defibrillators, insulin pumps and continuous glucose monitors. If those don't function properly, and if somebody dies, the question of responsibility arises. If it hasn't already happened, Chief Information Security Officers will be asked, 'What did the data say about any interference with that pacemaker? Was the firmware up to date?' We can see something similar playing out in the metaverse. Everyone will say it's someone else's responsibility – those who make the hardware will say it's the experience developer's responsibility, they'll say it's the user's responsibility, and so on. People used to thinking only about data security and network security must now consider users' physical safety.
data security metaverse

Why brands must get ahead on metaverse privacy and security

  • min read
    • While there's much buzz around the metaverse, few conversations focus on its security, privacy and safety. But these challenges may be even bigger in this emerging space than in the rest of the digital world. I spoke with several experts who agree organizations wanting to embrace this new medium must think about the challenges now – not when the metaverse gains full steam. What is the metaverse? The metaverse is an immersive three-dimensional world where people engage in social and commercial activities through digital avatars. Users can access it on many kinds of connected devices, but it's most immersive when used with a virtual reality (VR) headset. There are many metaverses, including that being developed by Meta, formerly Facebook, Horizon Worlds. Some call it the future of the internet. In this metaverse future, our physical and virtual spaces and lives may converge seamlessly. It could create a common place to work, shop and socialize. Some put this future closer than we might think. Global analysts Gartner predict 25 percent of people will spend at least one hour in the metaverse by 2026. Market Research Future says the metaverse market will grow by 45 percent annually until 2030. By contrast, they expect the Internet of Things (IoT) to grow by just 26 percent each year. Little focus on metaverse security and safety "The metaverse's attack surface [possible entry points for malicious actors] is bigger, and it's also a new technology space," says Nick Donarski, co-founder and chief technology officer at blockchain company ORE System. "Developers don't have the experience, technical resources and exposure for long-term understanding of its security and how it applies to organizations." Al Pascual, senior vice president of enterprise risk solutions at identity security provider Sontiq, thinks we can easily get 'ahead of our skis' when it comes to security. "We invent new ways to give people experiences and products using old security paradigms and have to clean up the mess later," he says. "We must think about security before we start deploying the metaverse to everyone." Securing the 'Wild West' "The metaverse is like the Wild West right now. There aren't even any standards yet," says Aarti Dhapte, senior research analyst at Market Research Future and an author of its metaverse market forecast reports. "You can't even regulate it well because everybody doesn't define the metaverse the same way." Gartner defines the metaverse as "a collective virtual space created by the convergence of virtually enhanced physical and digital reality" that's "device-independent and not owned by a single vendor" with "an independent virtual currency." Other definitions include fully immersive experiences, a three-dimensional overlay on the physical world and a persistent collection of universes we can traverse with digital identities and assets. Despite its early stage, many security experts expect the metaverse will see familiar security threats: Social engineering, phishing, identity theft and more. "Cybercriminals' methods are rarely new. More often, they use the same methods in a new channel," says Pascual, whose fraud prevention career includes working for global banks. Adding blockchain to the mix Many think blockchain will play a central role in the metaverse because of the need to decentralize the space and enable the various worlds within it to interoperate. Cryptocurrency, which uses blockchain, is the natural candidate for metaverse ecommerce. The metaverse could use smart contracts – digital transactions stored on blockchain that self-execute under certain conditions – to implement rules. Also a new technology, blockchain adds complexity and security challenges to the metaverse. And while many think its immutability makes it more secure, recent attacks on blockchain highlight its security shortcomings. Virtual currencies, whether cryptocurrency or non-fungible tokens (NFTs,) are also hard to navigate, especially for a big metaverse user group – children. "It's risky for kids and teens to understand handling virtual money in all forms and can lead to big losses," Dhapte says. People still the weakest link Malicious actors most often use people manipulation to attack. For example, Verizon's 2022 Data Breach Investigations Report says 82 percent of data breaches involve a human element. The metaverse's human element is similarly exploitable. The metaverse will also magnify data privacy concerns. Artur Kane, vice president at secure remote access company GoodAccess, says that since the metaverse is a "world attacking even more of our senses," tech giants can use it to make more money with better-targeted advertising. That means tracking even more of our behavior online. "We give away much more information in the metaverse," says Kane, a frequent privacy speaker at industry events. "Companies can learn much about us – like race, sexual interest, potential health issues." He mentions recent research showing how attackers could exploit hardware and application weaknesses to violate privacy. They set up a benign-looking VR escape room game and inferred many participants' attributes, from height to age to location, with high accuracy using just minutes of gameplay. Regulation far behind Lagging data privacy and security regulation adds to the metaverse's Wild West feel. "We're giving away so much more data than we realize," says Kane. "There's huge potential for data breaches and leaks in a new environment where legislation doesn't restrict much." Blockchain regulation is also lacking, which Dhapte thinks could mean greater chance of fraud. "Since various countries don't have fixed regulations for blockchain, tracking fraudulent activities would be a real challenge for governments." User risks in immersive environments The metaverse is a rich playground for abuse – from sexual harassment to virtual assaults. "Any vulnerable group, especially children, faces higher risk as non-consensual contact and communication might be more intrusive and targeted, given how immersive the experience is," Kane says. A survey by global think tank Wunderman Thompson Intelligence found 66 percent of parents familiar with the metaverse have child safety concerns. Fears are not unfounded – one media investigation found behaviors like racist comments and sexually explicit content directed at children. Pascual of Sontiq says metaverse participants exchange little of monetary value today, "But in ten to 20 years, the potential for financial transactions is huge, especially as digital properties gain value. Thefts will become more meaningful." In the meantime, users still risk fraud. Pascual says scams draw kids looking for cryptocurrency and virtual swag. "We've seen evidence of predators targeting children in open worlds like Roblox. Parental oversight, education and control on who children can engage with and what they can see will be key." An investigation as part of Tomorrow Unlocked's hacker:HUNTER video series found rife hacking in children's games like Roblox, for example stealing hard-won digital items. These hacks had considerable impact on the child gamers. It's harder for parents to monitor children consuming content using VR headsets because they can't look over kids' shoulders as with a computer or phone. That gives brands launching metaverse experiences a greater responsibility to protect users. Protecting business in the metaverse For teams responsible for metaverse experiences, security experts like Pascual emphasize the need for moderation. He sees danger for brands in platforms ineffectively moderated. "Brand trust will be critical, so there's a need for moderation, including monitoring to ensure brands aren't easily imitated," he says. Moderation may not be easy. Tech giant Meta's chief technical officer said moderating user behavior "at any meaningful scale is practically impossible." Still, some experts think self-scrutiny by brands, alongside industry collaboration, will be a business imperative in the metaverse. The good news is security concepts are roughly the same in the metaverse, according to Donarski of ORE Systems. "The fundamental security practices carry over because the architecture is the same. It still runs on a server, you have databases on the backend, user and password management, and so on." It may take a while, but the metaverse will likely become a reality. Companies must consider security and privacy before that reality takes shape – whichever version of the metaverse unfolds.
tale two metaverses

The Metaverse’s history shows we’re not quite ready for it

  • min read
    • In October 2021, Facebook Founder and CEO Mark Zuckerberg changed his company's brand name to Meta to reflect what he sees as the importance of the metaverse to their business strategy. Experienced using a virtual reality (VR) headset, the three-dimensional virtual environment lets characters (called avatars) engage in social and commercial activities much like real life. Many global business giants see the Metaverse as a huge commercial opportunity that will change how we live and work. Should your business get involved? I believe the Metaverse's history shows while it's an environment you should get familiar with, it may not be the time to invest big. Here's why. Origins of the Metaverse The video games industry has long driven demand for engaging immersive experiences and technologies to deliver them. Content expert Amica Graber says the word 'Metaverse' first appears in Neal Stephenson's 1992 science fiction novel Snow Crash. Snow Crash's imaginary Metaverse is a massively multiplayer online game (MMOG) – a game where all players are logged into the same game space, competing or collaborating on missions. MMOGs have been around since the 1990s. Their popularity has risen fast worldwide with improved internet connectivity, computer power and immersive graphics. One such game, space simulator EVE Online, has seen over 60,000 players simultaneously playing. And like in the Metaverse, trading virtual items for real-world money in MMOGs has become big business. What's the Metaverse's attraction? The Metaverse has business potential because of our willingness to invest so much time and money in playing games online. In a 2022 virtual conference on the Metaverse, Datin Lorela Chia, CEO of Haus of Stylo, Malaysia, gave examples of the fashion and games industry collaborating, like creating and selling virtual garments for avatars. But it's not just about buying and selling things – the Metaverse offers a way to meet, discuss or learn that's more immersive than other online communication tools. Bill Gates said in 2021, "Within two to three years, I predict most virtual meetings will move from 2D camera image grids… to the Metaverse – a 3D space with digital avatars." Metaverse follows in Second Life's footsteps In almost every way except the VR headsets, there was a Metaverse from 2003, when Linden Labs launched virtual world Second Life. Second Life is a virtual world that lets users create avatars and settings, and teleport from one place to another in seconds. Second Life has an estimated 800,000 users and many of the characteristics of a real-world civilization – rules, citizen rights, homes, shops, universities and events. It has many business applications like hybrid conferences, virtual project meetings and data visualization for education and collaboration. IBM has used Second Life for internal meetings. BP for graduate recruitment and Imperial College London for virtual hospital tours. But with all its functionality and experience, Second Life hasn't gained mainstream commercial success. So why does Mark Zuckerberg believe his Metaverse has massive disruptive potential? What's enabling today's Metaverse? The answer lies in how the internet evolved since its birth in 1983. The power of 5G and fibre, smartphones and social media have all played a role. Today's advanced internet technologies make the Metaverse possible, but the devices and applications we use daily will determine whether it has significant commercial potential. Second Life runs on a desktop computer and connects to a network of Linden Lab servers. It's a security risk for businesses with network firewalls. Second Life is also 'synchronous:' users only get value from being online at the same time as other users. So there are no users in most Second Life locations most of the time. To use a real-world retail analogy, there's a lack of footfall. This is also true for the Metaverse. Its commercial potential will depend on user numbers and where they spend time. It's critical there's on-demand universal access across computers, laptops and mobile devices. Perhaps 'Web 3.0' will be the technology that delivers on making Metaverse experiences securely accessible to a global marketplace across different devices, but especially mobile devices like smartphones. What is Web 3.0 and why does it matter? IT industry analyst Robin Bloor recently said, "Web 3.0 is the third generation of the internet — a global network that permits intelligent interactions between all its users and devices." Web 3.0 is a theoretical new blockchain-based iteration of the web. It could provide increased data security, scalability and privacy for users. It would let users publish rich media content to a global audience and make a Metaverse more commercially viable than Second Life. By making the web more powerful, intuitive and secure, Web 3.0 could mean the volume of online users accessing and creating content grows faster. One major difference, most relevant to the Metaverse, is better handling of the 3D graphics needed for virtual worlds. Blockchain important to Metaverse commerce Metaverse settings are computer-generated environments or 360-degree photos and videos captured by consumer or professional cameras. These digital images and videos are now traded on the internet. Blockchain can validate ownership of these digital assets, enabling the fashion industry to sell digital garments. In Second Life from 2005, you could create digital assets and trade them for the digital currency Linden dollars. Today, the same thing is happening in the Metaverse using blockchain and cryptocurrencies like Bitcoin. These latest developments, alongside artificial intelligence that connects buyers with sellers, will add to the growth of the Metaverse. How will the Metaverse affect business? The future shape and commercial potential of the Metaverse go beyond numbers of users. It also depends on how often they visit, for how long, where and why. With pandemics and climate change restricting face-to-face contact and travel, applications that enable remote communication and collaboration have grown fast. Online meeting app Zoom saw daily meeting participants grow from 10 million to 300 million between 2019 and 2020, mostly from small business and personal use. Will the Metaverse become the new virtual meeting space Bill Gates predicted? It seems unlikely for now, with the convenience and ease of use of Zoom and other online meeting platforms. More likely, the commercial potential of the Metaverse will be unlocked by applications that benefit more from immersive experiences. It could also be useful in mental and physical health therapies that use virtual reality and for complex 3D data visualization. Facebook (Meta) has invested hugely in strategy based on VR headsets as the gateway to their Metaverse platform. Unlike the browsers found on every smartphone and laptop, few own or have access to a VR headset. At the moment, Metaverse suffers from the same problem that restricted Second Life – a limited marketplace, until the technology evolves to the point where VR headsets or glasses are affordable and ubiquitous. Unlike recent disruptions like cryptocurrency, the Metaverse relies on mass adoption to be profitable for business. Several factors in the market today make mass Metaverse adoption unlikely, like low VR headset ownership and lack of systems to access the Metaverse with commonly owned devices. While businesses should closely follow the Metaverse's development, it may be premature to invest heavily at this time. In any case, watch this space.
by Innovating leaders.
Innovative tech.
About Secure Futures

Secure Futures magazine is your go-to business guide for opinions, trends and insight into the world of technology and cybersecurity. We help your business to bring on the future. Brought to you by Kaspersky, the global cybersecurity experts.

  • For all other countries