Living in the Metaverse - FOMO

By Henrik Mhershin

In the modern age, the phenomenon of information overload has become increasingly prevalent. This condition occurs when an individual is exposed to more information than they can process or handle effectively, leading to a state of overwhelm. It is often accompanied by the sensation of having an excessive number of tasks to accomplish and insufficient time to complete them, which can result in significant stress and anxiety.

The relentless pace of technological advancements and the proliferation of digital platforms have exponentially increased the volume of information we encounter daily. From the constant stream of emails, social media updates, news articles, to the demands of work and personal life, individuals are bombarded with data that requires their attention and action. This deluge can lead to a sense of paralysis, where making decisions becomes more challenging due to the fear of missing out on important information or opportunities.

The emotional response to information overload can vary, but feelings of frustration, fatigue, and anger are common. The anger often stems from the realisation that despite the wealth of information at one's fingertips, the capacity to absorb, understand, and utilise this information is limited. There is also a pervasive fear of missing out (FOMO) on critical updates or engaging content, which can lead to a compulsive need to stay connected and informed, further exacerbating the issue.

To combat information overload, some individuals and organisations are turning to various strategies. These include setting boundaries on media consumption, using technology tools to filter and prioritise information, implementing time management techniques, and practicing mindfulness and stress-reduction exercises. By acknowledging the limits of one's cognitive capacity and taking proactive steps to manage information intake, it is possible to mitigate the effects of information overload and regain a sense of control and peace in the digital era.

E2 is far from removing the FOMO. FOMO is essentially a form of social anxiety - a worry that others might be having rewarding experiences from which one is absent. This fear is characterised by the desire to stay continually connected with what others are doing, but in E2 there is also financial benefits for not missing out. This is out of the control of every normal person; no matter how much they learn, strategize, think about the issue, the only real solution some will feel is to continuously log on to a game to check nothing new has been released. This is a classic FOMO example.

Companies have a responsibility to consider the well-being of their users. Redesigning gaming mechanics to minimise triggers of FOMO should be used to promote a more balanced and less anxiety-driven user experience. While FOMO can be leveraged in marketing to create a sense of urgency and drive engagement, it's important for companies to balance this with ethical considerations and the potential long-term impact on consumers' mental health. Ultimately, reducing FOMO isn't just about alleviating users' anxiety; it's about fostering a healthier, more sustainable relationship between consumers and technology.

E2 could educate consumers about the psychological effects of FOMO and providing resources for managing it could also be beneficial. Sharing tips for mindful social media use and encourage practices such as digital detoxes, which can help individuals regain control over their online habits and reduce anxiety. A “log-on” holiday / E-Ther collection holiday of a few days per 30 days could be another option.

EMBRACING CHECKS AND BALANCES

The Metaverse, a collective virtual shared space created by the convergence of virtually enhanced physical and digital reality, is poised to become an integral part of our lives. As it evolves, the need for checks and balances within this space becomes increasingly apparent to ensure the protection of individuals and society at large.

By implementing checks and balances in the metaverse, we can foster a more transparent, fair, and secure environment for all participants. These measures can include robust regulatory frameworks, smart contract audits, community governance mechanisms, and educational resources to empower users against FOMO-driven risks.

There will become a point in time whereby attractiveness of the metaverse hinges - not on its money making potential - but on its ability to offer an enriching and engaging experience without exacerbating stress or addictive behaviors. By implementing design choices that discourage compulsive usage and promote healthy engagement, the metaverse can position itself as a sustainable and responsible platform.

It could then attract individuals seeking quality experiences rather than those driven by the anxiety of missing out. The metaverse's potential for education, collaboration, and entertainment is vast, and by reducing FOMO, it can unlock new demographics who value these aspects without the pressure of constant engagement.

The metaverse could become a tool for social good, providing spaces for people to connect, learn, and grow in ways that are not possible in the physical world. This could be particularly attractive to those who face barriers in the physical world, whether due to geography, mobility, or other constraints. By creating a more inclusive and accessible environment, the metaverse can become a haven.

If you are experiencing symptoms of anxiety and stress, it is important to seek the guidance of a healthcare professional. Mental health is a critical component of overall well-being, and professionals can provide the necessary support and treatment options tailored to your individual needs. This may include therapy, medication, or a combination of approaches. Remember, reaching out for help is a sign of strength, and taking the first step towards managing your mental health is something to be proud of. For immediate support, please contact your local mental health services or a trusted healthcare provider.