Into The Metaverse: Using Cases for Leaders

Everyone is discussing and publicizing the importance of Web3, I think it helps us to see what it is like now: Starting to go to the main source or the market buzz?

First, what is Web3? Let’s take a look at the history and growth of the Internet.

System 1.0: In the early days of the site, texts were tight and heavy (think “read only”). Users do not actively contribute to the site but simply take the information, which is presented as site lists.

System 2.0: This is the modern era where the internet has really come to an end as a place for socialization / interaction and users have become contributors and contributors (consider the rise of media, i.e., Facebook, YouTube). The innovation and widespread use of smartphones has brought this connection into the palm of everyone’s hand and has become an integral part of the way we communicate, communicate, act, store, and so on.
GOOG
Instagram and its users lose the power of knowledge and privacy.

System 3.0: This is the next step in the growth of the open system and metamorphosing in real time. The definition of Web3 is not clear; now it can be described as the next generation of web services for systems and applications led by AI and machine learning with the goal of providing a more intelligent web experience and related. The main difference is to go back to using true peer to peer without the server or the server management/control system; this gives privacy and control to users.

One of the most talked about things about Web3 pages is the concept of “metaverse”; an online world that runs parallel to the physical world. While this is an example of the future of the internet, there are tools in use today that bring us closer to a real combination of physicality and realism; Some of these tools are about virtual reality and augmented reality.

Thinking about concepts like Web3 and Metaverse, the first answer might be to think that they are widely used these days for gaming and that business usage issues and applications are far from over. it’s true.

However, this is not the case.

There are many ways that business leaders rely on Web3 / metaverse services and platforms to communicate with the driver about how the business can trust and use these innovations in the future.

See today’s usage cases:

Digital twins: The idea of ​​a digital twin is to create a virtual copy of a real world object whether it’s a store, a physical product, a workshop, etc.

There are many uses and applications of this digital twin. For example, you can use digital people to compare different features and see the results, you can test environments such as the floor layout of a factory and compare the flow and with connections of various machines, supply chains, etc.

This idea of ​​creating digital twins is getting a lot of attention with various companies that are relying on the concept:

– Lockheed Martin
LMT
NVIDI is used
VIDI

NVDA

DIA
A’s Omniverse platform will create a digital twin of the wildfires that plague some areas in California. This has helped analysts better model their predictions and helped firefighters better combat the flames of the physical world.

– BMW has teamed up with NVIDIA’s Omniverse and the result is a digital twin of the BMW factory floor to increase production time and cost. BMW can offer the best roads around the floor during high performance and safety for employees.

Professional training: Another way that organizations can rely on Web3 and the metaverse is to focus on bringing business training, development, and expansion to the metaverse.

With companies moving to a hybrid / remote location having a platform for virtual distance learning can be a powerful tool to weave together a team culture. This is a great time to connect with a millennial employee and Gen Zero and improve employee skills.

A study showed that staff trained in VR simulations were four times faster than students.

The use of virtual training for employees allows them to gain real -world knowledge in a hassle -free manner that allows them to train features and results.

– Accenture
ACN
sold 60,000 virtual reality headsets for education; Accenture CEO Julie Sweet said this is a way for new recruits to “learn about Accenture in an engaging way and gain experience with people you wouldn’t otherwise be in a room with. going to your new team training. “

– Bank of America
BAC
also announced that they are distributing VR training in nearly 4,300 locations in the U.S., giving about 50,000 employees access to training and development opportunities.

It is a good idea to practice the metaverse because it makes eLearning easier and more convenient without the previous drawbacks that made the human learning more beautiful.

fun: Covid-19 quickly gained popularity among concerts. Clean concerts allow producers to reach a much larger fanbase (there is no limit to the number of listeners on a digital platform with the wide limits of a private space). This is not a value proposition from the point of view of making money, but from the point of view of building an audience. Virtual concerts allow the artist to enter a new way with fans and tap into a new fanbase.

Epic Games Fortnite is a pioneer / winner in the future of virtual games:

– Travis Scott has a 5th world tour tour at Fortnite that allows him to reach an audience of 27.7 million viewers (compared to 800K people who went on his Astroworld Tour in 2018-2019).

– Ariana Grande has joined Fortnite and its metaverse music network has 78 million users.

Roblox has also seen great success from working with artists:

– Artist Lil Nas X hosted a two -day concert at the venue that featured 4 virtual concerts and garnered 33 million views.

– Swedish singer Zara Larsson has teamed up with Roblox to host a virtual dance party to announce her new album “Poster Girl”. People can take part in this virtual dance party and sell to its virtual customers who bring in about $ 1M in cash. This is amazing when you calculate the price of each item at around $ 1 – this indicates a huge growth of a favorite stock market that wants to spend physical money on customers. such as virtual hats and skins for their avatars.

Famous: The manufacturing industry is making headlines as it enters the digital world. Brands like Gucci, Ralph Lauren, Nike
NKE
and many others that embrace the metaverse through interaction at different levels.

There’s a chance to change the “in-game” look through skins (clothes / accessories that allow you to change the look of your avatar). The market for skins is estimated at $ 40Bn a year.

– The Gucci virtual Dionysus Bag with Bee was sold instead of its IRL version (in real life) at a website event at Roblox called Gucci Garden that ran in tandem with the opening of House’s Gucci Garden Archetypes – an immersive multimedia experience in Florence, Italy. The Gucci Garden exhibition at Roblox has been open for 14 days and visitors have been able to purchase free printers for their avatar.

– In 2021, the popular Ted Baker store has entered the virtual clothing market by creating a space in the popular Nintendo game Animal Crossing called “Ted Baker Island” that allows Animal Crossing players experience five real -world characters – players can create their own avatar a. try 20 items from Ted Baker’s new collection.

Company Value: Covid-19 has accelerated digital conversion and is the reason for the transition from personal to work from home or a hybrid that is set to be the new standard.

For many senior companies, their physical office is a symbol of their business culture and a central hub for employees to collaborate, work, think, and solve problems.

We are moving to a remote -sensing business that is starting to create a virtual head office in the metaverse:

– PWC Business Number Four
PWC
sold digital land on the Sandbox as what it said was an opportunity to “work with their customers and communities”.

– ConsenSys Software (makers of the popular MetaMask digital wallet) is a head office on the Decentraland metaverse platform
MANA
which was equipped with a boat deck and a museum and was originally used as a place to host group meetings. According to its website, the company plans to use the digital HQ to “meet for virtual drinks, hospitality talks, NFT presentations, meetings and customer meetings.”

For serious leaders from the Gen X or baby generation generations, Web3 / the metaverse isn’t a surefire place to invest business resources, but here are a few fun things to help build a great deal. time limit:

– Here are the main markets of the metaverse:

· 2021 – $ 63.83 billion

· 2022 – $ 100.27 billion

· 2029 (expected) – $ 1.5 trillion

– There are 350 million Fortnite players worldwide who have played the popular game for 10.4 million years — that is, people have spent 91 billion hours as an avatar in the Fortnite virtual world.

– Let’s remind ourselves that in the US today Gen Zero and Millennials make up 42.28% of the population. These are the generations that actually used avatars and digital money to appreciate the popular games they played like Webkinz and Club Penguin.

– There are 106 million people worldwide who use cryptocurrency exchanges, including Bitcoin
BTC
and Ether
ETH
eum, according to 2021 data from cryptocurrency exchange Crypto.com

– About 59.1 million Americans have access to digital assets in some form.

– NFTs saw an increase of $ 2.5 billion during the height of the disease.

Call it action: If we learn from the lessons of the past, we now know that companies have first used technology such as web, mobile, AI, etc. to maximize growth and legacy businesses that laggard every drive made in the bottom half.

Given that our review of Web3 is important to encourage and ask the management team to put this on the project to see where your organization (in relation to its business) can be trusted. increasing the metaverse and visibility. what are the usage issues relevant to your industry.

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