I wrote an editorial piece for Launch DFW that explores what this may look like. I think we will combine the two worlds together to have a seamless experience. If anything, the online world will complement what happens in real life.
This is already happening in the shared economy. People need to interact with each other in real life to purchase anything and have a transaction, which is building trust between strangers. Trust is the key ingredient for communities to take off...without it, there is no way to create a community.
But I won't bore you with the details - enjoy!