The metaverse has become a topic of increasing interest and discussion, as we find ourselves already immersed in a digital universe where all “IRL” experiences can be lived and enhanced. This concept encompasses social networks, MMORPG games, and immersive exhibitions, among others. The metaverse provides us with high levels of immersion, data, and emotions derived from the digital world. The only limitation lies in our access to complete digital universes that allow us to fully immerse ourselves. This access is dependent on the devices we have, such as phones and computers for 2D digital universes, or mixed and augmented reality headsets for a more immersive experience. In essence, the metaverse is the evolution and revolution of what we already know, as it represents the 3D web.
The gaming industry has notably paved the way for metaverse experiences, offering powerful real-time creation engines. Virtual reality has also demonstrated its ability to engage users through immersive storytelling. The convergence of these two experiences will ultimately submerge us in the metaverse.
Although the metaverse may initially be perceived as a story tailored for gamers, its user base extends beyond this demographic. Gamers form the core audience due to the advanced technology and innovative experiences the gaming industry offers. Young children, both boys and girls, explore digital game universes such as ROBLOX, while young adults find enjoyment in games like Fortnite. These individuals can be considered the “metaverse natives.” Additionally, adult males, often referred to as “geeks,” are also prevalent users within the metaverse, as seen in platforms like The Sandbox. However, immersing oneself in virtual universes is not limited to gamers, as we increasingly spend significant amounts of time playing mobile web games. Together, we are gradually moving towards collective immersion in virtual universes. Consequently, multiplayer games in settings like art exhibitions, luxury boutiques, or fashion shows are becoming an exciting possibility.
With the emergence of the FB Meta project, there is potential for significant changes within the metaverse industry. Mark Zuckerberg’s massive investments, including billions of dollars in Oculus devices, the creation of a backbone like Facebook Watch, and the development of a Meta watch, indicate their commitment to making metaverse experiences accessible to everyone. Although Meta is a powerful force, it does not possess all the necessary creation tools, particularly real-time video game engines, to fulfill its promises. Other giants, especially in the gaming industry, advocate for “open metaverses” that are compatible and interoperable. They aim to prevent a single player from capturing the fundamental infrastructure of the metaverse. This push for openness ensures fair competition and shared benefits.
The role of luxury in the metaverse is significant. The metaverse’s architecture relies on certifying both digital and non-digital objects, which presents a paradoxical opportunity. It allows for the infinite multiplication of digital objects and experiences while guaranteeing the authenticity of items like NFTs, artworks, smart contracts, and cryptocurrencies. One challenge for luxury brands in the metaverse is maintaining the perception of prestigious brands and unique value for customers. Additionally, in the metaverse, community members determine the value of digital objects and experiences, potentially bypassing the central operator, which is the brand. Virtual worlds will redefine the meaning of luxury, presenting new possibilities and leveraging the infinite potential of avatars, showcasing different aspects of our personalities. The fact that major auction houses are embracing the metaverse signals its importance within the luxury industry.
NFTs (non-fungible tokens) play a significant role in the metaverse. Similar to currency in an economic system, NFTs establish new values that are enforceable by all and recognized through community choices. However, there is a concern that the ability for anyone to create and circulate NFTs may dilute the exclusivity and uniqueness of digital assets. The speculative nature of NFTs, coupled with the lack of control over pricing and their relationship to reality, raises questions about their true value. While the NFT frenzy may seem like a speculative bubble, it also represents a marketing revolution, challenging traditional notions of ownership and value.
The emergence of the metaverse necessitates the role of a Chief Metaverse Officer. However, the notion of a chief in a decentralized universe raises important questions. Maintaining a pyramidal system within a distributed system presents challenges. Who owns the tools that build the metaverse and govern the community-driven ecosystem? The concept of Decentralized Autonomous Organizations (DAO) suggests the possibility of collectives replacing individuals in decision-making processes. Yet, decentralization incurs costs and introduces a new transitional phase without a safety net. Ultimately, the question arises of who governs the metaverse and how to address potential issues. The role of the Chief Metaverse Officer could be seen as an agent of internet change, responsible for aligning the company’s culture with the ever-changing and uncontrollable culture of the metaverse. This presents an exciting and fascinating challenge.
Useful links:
1. FB Meta Project: Learn more about the FB Meta project and its impact on the development of the metaverse.
2. KIF – Knowledge IMMERSIVE Forum: Explore the KIF, an event dedicated to digital creation in the service of culture and knowledge, founded by Alexandre Michelin.
