Sustaining the Metaverse

Our pandemic lives have been predominantly virtual for two years and this has undoubtedly accelerated investment in the metaverse. 

Since launching The Williams Nicolson Trend Index 2022, more brands have taken the leap into the metaverse: Decentraland has just hosted the first ever Metaverse Fashion Week with all you would expect – runways, afterparties and exclusive product drops.

It is tempting to think that virtual real estate doesn’t cause any harm to our planet. Meeting in a virtual space has curtailed unnecessary business travel but it is far too simplistic to think of the metaverse as a sustainable nirvana. 

The creation and trading of virtual assets such as non-fungible tokens (NFTs) takes substantial energy. They still create emissions. Virtual headsets made by the big technology players add to the 1.5 million tonnes of e-waste and hardware already produced in the UK. 

There are still safeguarding concerns. Harassment, bullying and abuse are as rife in the metaverse as in real life. 

Don’t turn your back on technology but do think carefully about how exactly you adopt it. Have a plan for recycling hardware. Set guidelines for metaverse behaviour.  

If you are exploring NFTs, understand and consider their environmental impact and determine whether it is better than analogue alternatives.  

While there is great potential in the metaverse, it would be foolish to dismiss the sustainability lessons we grapple with in our real-world businesses.  

Sustainability will have to be considered for this new world. But this time we have an advantage. There’s an opportunity to get things right from the outset. To understand where risks lie and address them upfront, rather than when they surface in years’ time.  

We can do this but only if we accept the very real risks of a digital landscape.