what teeth Metaverse? The broad terms that refer to the immersive virtual worlds of the future continue to change across the industry, so it depends on who you ask. Will it become a social platform? Will virtual reality (VR) headsets be a gateway to entry? Will they blur the line between reality and technology?
At this year’s massive four-day Consumer Electronics Show (CES), it became clear that both Web2 and Web3 native companies had different views on the road ahead.
the term “metaversewas first coined in Neal Stephenson’s 1992 science fiction novel Snow Crash, but in recent years there has been a rapid expansion in the development of technologies that enhance the Metaverse experience. Mainstream companies like Meta (formerly Facebook) have shifted their focus to innovation in the sector, while countries such as Japan have Integrate metaverse technology at the national level. Platforms such as The Sandbox and Spatial Decentraland A fully immersive, interconnected metaverse doesn’t exist yet, but it has emerged to provide a virtual society experience.
Blockchain technology is being used as a tool to propel the metaverse forward, and the Central Hall of the Las Vegas Convention Center was filled with new technology familiar to the world of Web3.From Metaverse Haptic VR technology from Ixana To Samsung and LG smart TVs with blockchain integration A non-fungible token (NFTs) wallets and marketplaces, CES provided a fantastic glimpse into a decentralized future.
But some Web3 builders say the metaverse won’t emerge as the result of a major technological breakthrough, but will find ways to integrate seamlessly into everyday life.
“Bridging the digital and the physical with discreet, everyday technology in a discreet, everyday way is really the core. [of the metaverse]said Kathy Huckle, chief metaverse officer at Web3 consulting firm Journey, on a panel at CES.
Web2 brands create meaningful experiences
whether it was metaverse fashion week March, Snapple’s Metaverse Bodega in August or October metaverse music festival, many mainstream brands took their first steps towards Web3 last year. However, some critics are quick to label these activations simply as “PR stunts.”
Justin Hochberg, CEO and founder of Metaverse agency Virtual Brand Group, told CoinDesk that brands have reasons to explore the Metaverse beyond just creating one-off activations. . Brands can deepen their relationships with consumers, reach new markets, and avoid the challenges associated with the physical world. .
“The law of gravity does not apply and there are no supply chain issues,” says Hochberg. “When you can make a race car as easy as a scarf, it opens the creative floodgates for what you want your brand to do.”
He predicts that as more companies adopt Web3, they will move beyond simple activation to create seamless solutions for consumers.
“I think we’re going to see people creating real solutions to real problems, not just for technology,” Hochberg said. “Eventually, the Metaverse will be as embedded in people’s daily lives as the Internet and his iPhone, so they don’t even have to think about it.”
Large Web2-native technology companies are also looking to integrate into Web3 and are creating technology to do so.From Henry Bzeih, Global Chief Strategy Officer, Mobility, Automotive and Transportation, Microsoft A Bullish View on the Metaverse To LG’s “shoe box” NFT productthe common name is trying to build long term.
“When you see an executive speak, [the metaverse] Shira Lazar, founder of the independent publication What’s Trending and host of the Inside Web3 podcast, told CoinDesk. “In 2022 he’s starting to see real-world applications of these beyond what he’s seen in Decentraland and The Sandbox.”
Rahul Sabnis, executive vice president and chief creative officer at iHeartMedia, said at a panel that the digital media company chose to begin activations in the already popular Web2 metaverse space, but “not one. It was important to come up in a ‘traditional’ way. And done. He believes brands need to keep their fans engaged, and he touched on how Web3 can do that.
Sabnis said, “I imagined the fans at every concert. [they] Scan the QR code to act as a wallet, have NFT drops, and have the chance to upgrade your seat. ” These wallets can sync in real-time with where you are in the venue and enhance your experience with augmented reality and more. Finally, whether it’s Web2 or he Web3, Savnis concluded that “the most important thing in people’s lives is entertainment.”
future of work
So far, many Metaverse activations have focused on entertainment and leisure, and none have received as much attention. video gamesGamification facilitates a smoother adoption from Web2 to Web3, but so far it has not proven to be the key to reaching mass adoption.
The trend at CES was to use Metaverse technology to boost productivity, usher in the future of work, and pave the way for new audiences to experience Web3.
Metaverse concept “Dentsu NXT Space” in collaboration with Microsoft, LinkedIn, and Metaverse companies Head office spacebuilding a platform for working in the metaverse.
“People used to struggle imagining use cases that fit their business, but now they are mature and know how they want to use it.” Head office space, he told CoinDesk. “From HR to e-commerce, there is a lot of interest.”
At the CES showroom, Dentsu NXT Space unveiled some of their technology and highlighted how their platform brings business to Web3.
“In the first iteration of the metaverse, we couldn’t do what we were doing building the metaverse for productivity. It allowed us to get customers, bring in meetings and clients, You can embed it on your website,” says Carvahlo. “We’re taking things one step further to ensure true productivity in the Metaverse.”
Dentsu NXT Space isn’t the only company looking to bring jobs to the Metaverse. FORUM8 International, a Japanese company, is looking to build a productivity-focused metaverse so that companies can set up offices in the metaverse. The company also showcased its technology on the floor, showcasing software that allows businesses to work online.
“We are trying to integrate communication functions and build something that is easy to use. In an office where you want to communicate face-to-face, you can enter a meeting by entering the conference room. [or you] Luc Kuenemann, Software Engineer at FORUM8 International, said:
More brands are stepping into the metaverse, but their approaches don’t all look the same. From clunky headsets to bodysuits to immersive computer experiences, much of the technology that makes up the metaverse takes many forms. Kuenemann told CoinDesk that considering these differences will be important in understanding how to integrate social experiences.
“How do you integrate mixed reality for people who want to work in VR, AR, or simply 3D experiences?” asked Kuenemann. “How do you get all these people together and make them work the way they want? [in the metaverse]”
cryptographic element
Various Metaverse Showcases at CES Incorporated Various Web2 Technologies, but Web3-Native Brands Attending the Event Claimed Blockchain and Cryptocurrencies Are an Integral Part of These Innovations Did.
Sandy Carter, Senior Vice President, Web3 unstoppable domainthe company’s technology, such as crypto, told CoinDesk wallet and blockchain domaincreating a gateway to the mainstream metaverse experience.
“We are the gateway to Web3 … and there are many of us out there today. That digital identity piece is one of the first building blocks of the Metaverse and Web3,” said Carter.
digital identity, in the form of wallet identities or Ethereum domains, is one way Unstoppable allows users to obtain identities in decentralized applications and other blockchain-based products. Carter told CoinDesk: [of identity] In 2023, interoperability will be a key enabler of access to the metaverse.
The crypto space is mainly Still Addressing the Wider Impact of FTX Unraveling, Web3 companies remain optimistic. The Blockchain Association’s initial presence at CES was intended to highlight how blockchain technology and cryptocurrencies can underpin many of the technology trends predicted for the year ahead.
Ron Hammond, director of government relations for the Washington, D.C.-based crypto advocacy group, told CoinDesk that the current situation is daunting as many companies are still exploring crypto payments, NFTs and decentralized finance. Market conditions have not stopped innovation in this sector, he said (DeFi).
“We are going back to the basics of rebuilding, focusing on technology, [crypto] The prices are about the same,” said Hammond. “After the fall of FTX, we desperately need that energy.”
He also said that among cryptocurrency products, Utilities are on the riseand it will only grow as we approach the new year.
“The people at DC want real-world use cases, and it’s versatile. [CES]”
A bet on branding
Web3, the buzzword itself, is a similar buzzword ecosystem with barriers to entry. So as terms like metaverse, blockchain, and NFTs enter the conversation, some individuals and companies want to distance themselves from the jargon.
Kirthiga Reddy, co-founder and CEO of Web3 marketing agency Virtualness, said at the panel that NFT should not be a term for the technology, but is really a reference to metadata. Rather, what is needed to drive adoption is a description that describes its identity and interoperability.
As more brands enter Web3, they’re trying to demystify these technologies by calling NFTs “digital collections.” Starbucks Odyssey Loyalty Programmeta Casting and selling digital art on the platformthe NFT population Preferred Restaurant Reservation Token for Front of House It’s just one example of initiatives moving away from the use of “non-fungible tokens” in favor of languages that facilitate the onboarding process.
“Terminology has replaced the reality of what is happening,” said Ted Shirowitz, a futurist at Paramount Global. I want to talk to you about how to do that.”
A common theme throughout CES was to create a frictionless experience focused on what fans and communities really want. Also, these experiences should be fun. This will be key to mainstream metaverse adoption.
“In the Metaverse, we are all world builders and have a chance to build,” concludes Hackl. “At the end of the day, it’s a people issue.”
