The most important 6 metaverse trends I see in 2023 Newsletter #9
The most important 6 metaverse trends in 2023
Recently, I created a video titled "The Word of 2022 is ...", it was initially published on my TikTok https://www.tiktok.com/@adrianniculescucom (please follow me there), you can find it also here on Youtube.
Of course, I was referring to the word metaverse which became mainstream after Facebook's rebranding into Meta in 2021. My definition of the metaverse is that it is a new medium of expression, the way the internet was in the 90s. And because people will use it intensively, it will soon become part of our DNA like the internet is. How do you feel without your phone or tablet if you can't access them for a few days, even for a few hours? Do you feel like it is missing if not a finger, at least a nail? But how do you feel when wi-fi is not available, and you are offline?
There is a big fight between large corporations about how to approach the metaverse, and I believe that the future of the metaverse is the business metaverse. Most business consultants from big companies see a huge financial opportunity on the horizon, this is all that matters to them. Meta wants to create virtual reality ecosystems, but their sketches leaked online look like the ones created by a startup in a dormitory in a third-world country they can do it much better. Don't forget that I am a Romanian, in theory, I come from an underprivileged country, but I believe that the next big thing can come from anywhere. Other giants like Microsoft and Nvidia are focusing on creating virtual metaverse-based environments for remote collaborating and working on digital projects. Other projects are building the future of the internet which may be blockchain-based and decentralized so they bet on NFTs to democratize the ownership of digital assets, building DAOs, and platforms where the new login username and password is the web 3.0 wallet.
2022 was somehow the year when like everybody seized the real business opportunities offered by the metaverse, which will see the next few years trillions of dollars added to the total value of the global economy.
I am involved in a few Metaverse projects on different verticals as an advisor, shareholder, and even as CEO for MetaStudio, building a business metaverse for content creators functioning like a DAO. Here is an interview I did earlier this year with a team member of MetaStudio about the initial vision of the project. Being an early stage, there are many pieces in motion, including refining the concept, and the pitch, here is the interview:
For more details about MetaStudio please check
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1. Metaverse as a new medium of expression for marketing purposes
I am saying time, and time again in conferences that if people are spending time in the metaverse, and because we are living in the attention economy, so this is the main currency, the brands will want a piece of it, that's why we will see a lot of marketing initiatives taking over the metaverse. Most of the fashion brands are also building either their metaverses, setting up shop in other metaverses, or both, we can also see built the first bank in the metaverse with a franchise model for its branches - MetaBank - https://metabank.li
. In the metaverse, the experiences can be tailored to the max, and still, the space is not dominated by the tech giants which dominate the Web 2.0 world.
2. The business metaverse
The big quantum leap of remote work during the Covid 19 thing opened the way for many brick-and-mortar companies to operate this way, at least partially if not totally, so many of them are looking to build, or actively building real-world like metaverse virtual ecosystems where the employees can work and interact like in the real world with lower costs, and better efficiency. I believe that this trend didn't even start yet, there will also be an important focus from the corporate world to run the metaverses profitably.
We also see initiatives like the ones created by car manufacturers like BMW's augmented reality labs which are building new prototypes and testing new collaborative ways of working.
3. The decentralization of Web 3.0
Still, I believe we are very early with the decentralization thesis. Why? It is because even the platforms claiming to be decentralized, are not, except maybe their DAO type of governance.
Is even BTC decentralized? Well, technology is, but the majority of BTC (like 90%) is in the hands, aka wallets of a very small number of people, and institutions, around 2,000. I believe that the metaverse will accelerate the decentralization process, but at the same time, I don't see the current Web 2.0 giants giving up their monopolies or oligopoly. They want for sure to invest or buy the best projects in the Web 3.0 space to also dominate this market so I am reserved with my predictions here.
4. The new usernames and passwords
Besides the wallets, I see NFTs being used to replace usernames & passwords and being the gatekeepers to the platforms and future memberships. The non-fungible, unique character of NFTs will drive their future through enhanced utility. I believe that the era of common jpegs as NFTs has passed, and the market is maturing.
5. VR (virtual reality), and AR (augmented reality)
I see big leaps in the evolution of how immersive technologies will evolve, and shape the future of the metaverse which may look in a few years different than how it looks today. Who knows what types of realities we will have to choose from very soon?
Also, I trust that we will not be forced to become robots, and wear a device every time we will immerse in one of the metaverses, but who knows? The big companies may want to monetize faster with the use of hardware devices.
6. Interoperating Avatars
If you are involved in 10 metaverses and need to have 10 avatars, this is not feasible, so the metaverses have to become interoperable, and I trust that they will become like this very fast starting in 2023. Also, I believe that the avatars from metaverses are the best personal development tools because they can look any way we want, and even have 6-pack abs without any minute spent in the gym.
I believe the metaverse has a great future so I trust that we will help build it together :)! If you want to join my Web 3 Investments Mastermind for the next 12 months, there are only 2 spots left for the next group, details in the previous newsletter: https://www.linkedin.com/pulse/how-invest-web-30-newsletter-8-adrian-niculescu-.
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