Metaverse 2.0: What's Said About the Next Version of the Internet, and What Isn't

This analysis examines the evolution of the metaverse concept and current shifts in the broader interactive entertainment industry, primarily through the lens of the second edition of Matthew Ball’s foundational text on the spatial internet. The primary thesis suggests that while the technical and business discourse surrounding the metaverse has matured and expanded significantly since 2020, the conversation remains overly focused on technological convergence and economic growth at the expense of critical socio-economic and regulatory considerations.

Data indicates a massive surge in metaverse-related literature between 2022 and 2024, with at least 74 book titles published—46 in 2023 alone—totaling nearly 20,000 pages of content. Academic interest shows a similar trajectory, with over 4,000 peer-reviewed articles now existing. However, the scope of this research is geographically and linguistically concentrated; English is the dominant language, followed by Japanese, Chinese, and Turkish. The findings highlight a potential bias in the industry, as the majority of these publications are authored by technical or business-oriented entities like the IEEE, Springer, and Wiley, often framing the metaverse as an inevitable "economic singularity" rather than a social construct requiring ethical oversight.

Beyond the metaverse, the analysis covers significant shifts in the gaming and toy sectors during the 2023-2024 period. Key data points include the FTC’s regulatory challenge against Microsoft regarding Xbox Game Pass price hikes and Mattel’s $90 million in annual digital licensing revenue. These developments underscore a broader industry trend: the increasing difficulty of valuing traditional intellectual property as it transitions into digital, interactive spaces. Ultimately, the findings suggest that while the "building blocks" of the next internet are being meticulously documented, the industry lacks a cohesive strategy for managing the resulting social anxieties and regulatory needs.