Organisation:
Resource Link:
Into the Metaverse – Published in 2021, Link
My Key Takeaways
Metaverse – you’ve probably heard so much buzz from Facebook’s rebranding, but what does this mega trend actually mean for your business?
Sharing some takeaways from this fascinating report by Wunderman Thompson:
15 experts define the metaverse (Pg 13)
Some call it the new Internet, Web3.0, a democratised virtual society, or persistent and shared virtual spaces, but most agree that it’s the blending of digital and physical existence.
Expert views on the metaverse’s potential (Pg 78):
➡️ Leon Ng, LNG Studios
“For one masterplan community project we did for Concord, we gave away 10,000 headsets to realtors around the world.
“…. you don’t have to build a physical showroom, you just build a virtual showroom”
➡️ Kerry Murphy, The Fabricant
“The most sustainable clothing is clothing that has never been made before…”
“Digital possessions are the next phase in anti-excess consumption.”
“… people are simply going to start seeing value in digital items and realize that they’d rather interact with a digital item or have an infinite wardrobe of digital fashion items, but a very limited wardrobe of physical items.”
➡️ Kai Bond, Courtside Ventures
“Once glasses get an AR filter, I won’t need a laptop anymore. I could be having this video chat with you just with my glasses—just a virtual interface.”
“… Maybe even
smartphones are going to disappear.”
“In the future, engagement with digital spaces and items won’t be funneled through any one gatekeeper; rather, it will be seamlessly superimposed on the physical world.”
5 punchy points for your business to remember when entering the metaverse (Pg 91)
Case studies of how Facebook, Epic Games & Tencent are doing so (Pg 66).
Metaverse’s impact on Lives, Spaces, Businesses & Workforce and Societies:
➡️ Brands/manufacturing-as-a-service (Pg 28) – validating a design in the metaverse before producing it physically
➡️ Metamedicine (pg 30) – e.g. Akili Interactive’s FDA-approved EndeavorRx is a video game to treat ADHD in children
➡️ Gamevertising (Pg 58) – Gen Z are notoriously difficult to reach through traditional channels like magazines.
As Gen Z are 24% of ASEAN’s population [Hakuhudo], businesses need to pay attention to these new metaverse channels to reach them.
➡️ Metasocieties (Pg 79) offer participants a chance to create a world reflecting one’s aspirations/standards – e.g. H&M offering virtual recycling in Animal Crossing
➡️ Virtual real estate & goods
– Upland game offers virtual land mapped to the physical world, selling 1M virtual properties as of June 2021. Decentraland sold a plot for a record $913K in the same month! There’re even metaverse REITs (Pg 52).
– Mind-blowing that on average, consumers in US, UK and China would be willing to pay (Pg 29):
– More than $76,000 for a digital house
– More than $9,000 for original digital art
– More than $2.900 for a digital designer handbag
—
Please excuse me while I go design my own digital tote bag and sprawling mansion.
Limited edition and absolutely for sale. 😉
My LinkedIn post here.
About Zhilin SIM
Having worked and lived in Singapore, the Nordics, China, Spain, UK, I’m now based in Paris.
I’m fluent in English, French and Mandarin, and I’m learning Arabic because it’s a beautiful and fascinating language.
My team creates and supports one-many initiatives connecting Corporate and Startup ecosystems in Europe to business and innovation opportunities in Singapore and Southeast Asia.
I’m passionate about horticulture, watercolour, startups/tech as well as French cuisine, Peranakan kueh techniques and other global cuisines.
Feel free to connect with me if you think my network in Europe and Asia could be of benefit to your business and innovation activities.
