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The metaverse is more than meta | Pocket Gamer.biz

Niklas Bakos is the founder and Chief Strategy Officer of Adverty.

Facebook’s early attempt to catch the wave of the metaverse has brought this next iteration of the internet to mouths around the world – either as an odd, wondrous future mix of virtual and hybrid experiences and economic opportunities, or just another ominous big tech- Plan to rule the world.

Now let’s put it in the first of these two boxes.

Named after Neal Stephenson’s 1992 science fiction novel Snow Crash, the Metaverse is broadly defined as a shared, decentralized digital space that enables us to live, work and play in interconnected virtual dimensions.

Not just another word for VR or AR or cryptocurrencies or immersive game worlds, the Metaverse encompasses all that and much more and enables every virtual experience you can imagine.

In his video introduction to the Metaverse, Zuckerberg introduces card games in space and 3D street art. But realistically, representations of the metaverse often fail to capture its social, professional, and commercial opportunities in a way that really brings to life why we want a virtual experience or want to pay real money for a digital item.

Digital sneakerheads

Here is another attempt. At Metaverse, a trainer brand may charge you an additional cost for virtual shoes in NFT form if they sell you physical shoes. Perhaps you bought both pairs after trying them on in a virtual store with a portable device and paying in cryptocurrency.

Since you own them offline and online, your avatar can wear them when you go to a virtual music festival with your friends or some future equivalent of Fortnite or Roblox.

Most of the time, the metaverse hype cycle affects products and infrastructures that don’t quite exist yet.

At some point after the real shoes wear out, you may want to resell the virtual pair as it was a limited edition and is now in great demand.

They make some money back, and since the entire transaction was done on the blockchain, the brand can take its own share of the resale value.

In this one example, we have a new economic model for creative people, a new way of trying on clothes, a hyper-personalization of the gaming experience, a new forum for live entertainment, a break in the wall between physical and virtual property – and, of course, the possibility of immortality Trainer.

In the gaming world, some aspects of the metaverse are already known. The idea of ​​playing and socializing in virtual space is an important part of this vision of the future.

This also applies to the crypto-based digital economy that we are already seeing in blockchain-based play-to-earn games such as Axie Infinity or Sorare. And while it has gone out of style, Second Life’s immersive world-building is a distinct low-tech forerunner of the kind of metaverse that Zuckerberg describes.

Open ecosystems

No single company will build the Metaverse, which will be a huge, decentralized network of worlds and experiences, and Facebook – now Meta – is not exactly alone in positioning itself for the shift to come.

Epic Games has raised a $ 1 billion war chest to support its own developments. CEO Tim Sweeney envisions “an online playground where users and friends can play a multiplayer game like Epic’s Fortnite, watch a movie on Netflix the next moment, and then bring their friends to a new car to test that is built in the same way in the real world as it is in this virtual one. “

Microsoft is also involved in the case and used a trial version of Teams with digital avatars to bring new employees on board during the lockdown. And former Google CEO Eric Schmidt believes the Metaverse can be a big tech game changer that may give well-placed, as-yet-unknown startups the leverage to disrupt today’s big players. “Sometimes the startups grow into the next big company,” he reminded Bloomberg.

Most of the time, the metaverse hype cycle affects products and infrastructures that don’t quite exist yet.

In order to represent really convincing environments, we need quantum computers, mature blockchain technology, stable cryptocurrencies and protocols around NFTs.

The glasses, headsets, haptic interfaces and digital skins that we expect to use have not yet been made. Red Dead Redemption 2 was eight years in development. Building an entire, decentralized virtual world with its own economic systems takes time.

But that doesn’t mean that elements of the technology that will make the metaverse don’t already exist. My own company, Adverty, creates In-Play ™ ad formats and holds technology patents to prove ad visibility in Metaverse experiences. We can easily implant our technology in billboards in virtual shopping streets, on airships over 3D concerts or anywhere an advertisement could be placed.

This is our own little corner of the coming metaverse. And in the years to come, every other technology provider, brand, and interested person will find their own.

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