Illustration by Michele Bruttometto
If the evolution of man is continuous, this means that everything that surrounds us evolves with us, and this is also the case for “theinternet of things” (IOT) and for all the supports it uses, as in fact the new frontier of digital communication: the Metaverse.
We live in an era in which a significant change is underway in the history of humanity (or perhaps it has always been like this but every generation likes to affirm it) and our physical and real lives are destined to convey and move into the Metaverse.
What is the Metaverse?
The term Metaverse is not exactly a technology but rather a broad shift in how we interact and communicate within our world, using technology. Ultimately, even the Metaverse itself could quickly become antiquated.
In general, the technologies that make up the Metaverse are based on the concepts of virtual reality (VR)characterized by persistent virtual worlds that continue to exist even when that reality is not accessed, and of augmented reality (AR) which merges the characteristics of the digital and physical worlds. But the Metaverse may quickly evolve and no longer be accessible exclusively via VR or AR.
In itself, the Metaverse is a conglomerate of 3D virtual worlds which aim at social connection and can also be defined as the simulation of a digital environment using augmented reality (AR), virtual reality (VR) and blockchaintogether with concepts specific to digital media, to create spaces in which the user aims for a rich interaction that imitates the real world.
What does the Metaverse look like currently?
(Spoiler: from here on the worry about what will become of us is around the corner).
The Metaverse for tech and innovation lovers is almost a Paradise: a place where you can immerse yourself in any digital world and participate in any physical reality, at any time, from any part of the world or space.
In the Metaverse also appearance economic it has its own dimension and is taking shape. Now, a user can access it to create, buy and sell goods or services. Furthermore, the Metaverse presents itself as an interoperable toolallowing you to carry objectslike clothes, from one platform to another. In the physical world, you can buy a car and travel around cities, while the Metaverse could allow you to get an alternative car quickly, as easily as you can wish a friend a birthday greeting on your favorite social network. A concept that is still rather enigmatic and difficult for us to understand.
Not to forget to mention the inevitable Covid-19 pandemic which has contributed greatly to changing ours operating mode it must be said that it was the Internet and the Work from Home (WFH) technology derived from it that helped companies stay afloat and most likely also expand rapidly. Several sectors, including education, have changed dramatically since the pandemic, catching up with the current technology ecosystem.
In other words, the Metaverse will potentially further alter many industries by introducing virtual reality (VR)-based wearables. These wearable devices will introduce users to an alternative virtual world, while remaining physically connected to where they belong.
Post-work routines such as gathering for drinks or other social interactions with friends will have their alternatives in the virtual world without the hassles of the real world. Simply put, the possibilities with the Metaverse are endless.
…if you get used to the idea that acts as a stumbling block: losing physical contact and getting used to “virtual contact”.
Work in the times of the Metaverse
Since the Metaverse is starting to incorporate Web3 technology enabled through blockchain technology, the future Metaverse could be very similar to our real world and even replace some activities in this world.
Already some Metaverse non-fungible token (NFT) providers have allowed their NFTs to be usable in some Metaverse games (such as clothing and footwear), and others are planning to venture into this new, yet-to-be-discovered continent.
A growing number of NFT enthusiasts are also sensing opportunities invest in virtual lands and sell or rent them at a certain price.
Both users and creators could reap rich revenues and this could even increase if non-fungible tokens (NFTs) were to be incorporated into game assets, to make the decentralization of the virtual economy become real.
With major players like Meta entering this space and confidently signaling that it could be the new future, it’s only a matter of time before we see other entities follow suit. It could lead to an exponential expansion of the boundaries of the Metaverse and unlock vast volumes of value, previously unknown, to consumers and investors alike.
The future of the Metaverse also extends to the idea of expand independentlysince the participation of creators will happen from all over the world and since more and more brands are looking to open their outlets, just like it happens on the Internet now.
Building the Metaverse: How Brands Can Contribute Responsibly
With an astronomical budget in the works and the brightest minds trying to imagine what the future holds in the age of the Metaverse, some crucial questions arise: is the creation of the Metaverse an opportunity to build a more sustainable, included and with a horse? It is actually a world? And that’s actually what There serve?
Many say that the Metaverse has absolute potential. How come? Because its construction is proof of who we are as a society today and who we will be tomorrow.
This start could be the new starting point for businesses, users and brands to present your point of view on racial, social and environmental issuesand at the same time to apply these beliefs to the platforms and technologies that will be created, along the lines of the Metaverse.
Ultimately, these new technologies (such as blockchain or AR/VR) or similar platforms, aim to influence the way we think, work, move money, socialize and much more. However, all of this also represents an opportunity to rethink the current structure which also establishes the standards of sustainability, equity and inclusion.
In all of this, brands, brands and marketers position themselves as actors fundamentals. They have the power to help model And build experiences to their benefit, but also to connect in more meaningful ways with audiences who want more than a standard product message.
Express the core values of a brand, commit to “being responsible” and then actually build that reality (even if digital) that will ensure they bring ideas to life, in a more concrete way.
But what are the opportunities for brands?
Two words: inclusiveness And accessibility.
Our digital reality is lagging behind its promise an experience designed and built for everyone. But the opportunity to change and improve is always granted, and brands should have a say in how to do it: get started, revisiting and underlining the founding ideals of web3, including decentralization from the giants of technology, equity and community-led engagement .
Brands can successfully build their strategies in the Metaverse while emphasizing inclusivity and access.
When thinking about activating in this space, brands should take this reality into consideration and promote the collaboration of different creators and creators.
Brands should understand this new balance of power and cultivate the notion of collective ownership that is truly inclusive for all. For example, while a CPG brand may struggle to directly offer diverse voices to work on design and creation, it will be critical for it to collaborate with vendors and other partners who are committed to these same goals.
The Metaverse and environmental impact
Along with the excitement and technological advances accompanying the development of the Metaverse, there are also many considerations to be made regarding its imprint on theEcosystem Environment.
Since the Metaverse exists in the digital realm it may seem that it does not touch the physical sphere of the environment in which we live but this is not the case. Research carried out by the most well-known bodies is in fact bringing to light what the risks and which ones advantages of the development of this alternative world.
“Digiconomist estimates suggest that a single Etherum transaction (linked to the Ether cryptocurrency, second after Bitcoin) emits approximately 110 kg of CO2, equivalent to that of 42,734 VISA transactions or watching 18,253 hours of YouTube. Every time an NFT is minted or traded, another block needs to be built on the blockchain, it’s not hard to imagine how much issuance would amount to if creation studios were moved to the Metaverse.”. (Source: A. Chen, UNESCO)
But fortunately the Metaverse also has a large number of environmental-related advantages. The Metaverse offers us digital alternatives to real-life goods and experiences. In a certain sense it therefore becomes iThe number one fighter in the world if it is a question of reducing the problems due to materialism and to waste. In industries with major sustainability challenges, such as fashion or travel, the Metaverse avoids the waste of energy and assets, allowing people to reap the benefits of certain products.
Committing to becoming a carbon neutral company could be a good option to consider for brands moving into the new reality, and offering sustainable alternatives to products, services or experiences that present real-world environmental challenges could be a point of merit.
The efficiency of the Metaverse
As innovation in the Metaverse continues, it also grows the amount of energy required to support these new ways of shopping, socializing and creating. It is a multitude of possibilities, but it is also a multitude of “things”, digital or otherwise. The goal moving forward should be to think about how to innovate efficiently, not just at scale.
The Metaverse will be an opportunity to 10 to 30 trillion dollars within the next 10 to 15 years (Source: MarketWatch) and consumer demand to participate is increasing. If that demand is met with a more environmentally responsible way of buying, selling and collecting NFTs, it also opens up the possibility of starting to build more efficiently and sustainably before the problem becomes too big to solve.
The brands are powerfully positioned between the small but passionate NFT community and the masses. This leaves a sizable gap between the knowledge of how the Metaverse works, the desire to build it sustainably, and the people who know (or don’t know) how to do it. This gap can be filled by brands and they should start thinking about ways forward now.
In fact, some companies are already taking steps to mitigate the impact. Google has committed to operating 24/7 in all its data centers by 2030.
Microsoft plans to be carbon-negative by 2030.
And Amazon Web Services is aiming for 100% renewable energy by 2025 (Source: K. Wiggers, VentureBeat). Meanwhile, data center, computing and software technologies are becoming more efficient, as well as some efficiencies with blockchain and proof-of-work verification.
