How Will the Metaverse Economy Materialize?
Facebook bets its future on the metaverse. Facebook chairman Mark Zuckerberg, at a press conference early last month, noted the metaphysical economy: “I think of metaphysics as the next generation of the internet. instead of being an external screen that we look at on our mobile phones or computer screens, the internet will become a part of us and we are part of it. the internet of the future is something we can be within,” Zuckerberg defines this new environment, the metaverse environment, as “an immersive virtual environment, where you can be with people in the digital environment and the digital community, that we can think of as an incarnate internet, in which you exist rather than just looking at it as it is now.”
Facebook bets its future on the metaverse
Facebook chairman Mark Zuckerberg, at a press conference early last month, noted the metaphysical economy: “I think of metaphysics as the next generation of the internet. instead of being an external screen that we look at on our mobile phones or computer screens, the internet will become a part of us and we are part of it. the internet of the future is something we can be within,” Zuckerberg defines this new environment, the metaverse environment, as “an immersive virtual environment, where you can be with people in the digital environment and the digital community, that we can think of as an incarnate internet, in which you exist rather than just looking at it as it is now.”
More seriously, Facebook has finally changed its name to Meta, a sign of the future of the Internet, and Microsoft has recently introduced a new administration called “Project Metaverse”, according to Microsoft CEO Satya Nadella, and Facebook launched horizon rooms as a preliminary embodiment of metaverse in preparation for entry into the world of Avatar economics, and employees in horizon rooms can enter the new Horizons business rooms. By default using a fake character – Avatar – for each of them, in this virtual room you will see your computer and colleagues, interacting, working, and exchanging ideas with them completely as if you were in a real working room in the company building.
The key to unlocking the metaver
The strength of metaverse, the avatar economy, can be introduced through this article, where the term “avatar” is referred to as a graphic representation or drawing of a real person, often found in the user profiles of online forums, in instant messaging, chat or social networking services, and these drawings represent the character of the author of a 2d blog or microblogging or can be a 3d form, occupying a place in the virtual world, such as second life.
The code was created by Chip Morningstar and Joseph Romero in 1985 when they designed Habitat, a multiplayer online game.
Avatar’s economy means that space from virtual reality and augmented reality business, through which products and goods are sold directly to avatars, bypassing any supply chain management, and logistics on how to get the product or physical goods to the consumer door, says Ryan Gill, co-founder, and CEO of Crucible: “Brands are sold in virtual social or competitive environments such as gaming spaces or open worlds, where consumers present themselves as avatars. R.» That is, it reimagines, produces, manufactures, and transforms the world of atoms into a world of bits and pixels.
The “avatar economy” of virtual goods is an emerging area and a new gateway to consumption, and since consumption is an “expression of individual identity” and a matter of moral importance, it is the shift in the consumption mentality that leads brand companies to market their goods by default.
Samantha J. Wolf, associate professor at new york university, says: “the generation of me – born in 1995-2010 – is their digital avatar as an extension of themselves,” she adds, adding that “this generation loves individuality and challenges social structures, so it makes sense that while spending more time in virtual worlds, they want to represent themselves uniquely.”
We are gearing up for the metaverse
There has been a shift in the online gaming world, which will soon extend to Sushil Media, becoming a virtual market for products and goods, especially after it has gone from being a game with others to being with others in a game, and 3D/AUGD content has shown a 94% higher conversion rate than products without 3D/AR;
The most important thing we can conclude within this article is that there are things that brand companies can do in preparation for their access to metaverse and avatars, including studying the creation of their own video game, which can lead to sales of virtual goods that in turn reach the consumer’s home in their physical form.
About E. J. McKay
E.J. McKay is a Shanghai-headquartered investment bank with a special focus on mergers & acquisitions. We are one of the most long standing independent investment banks in China, with core business of mergers & acquisitions and financing advisory.