Emerging Developments

The DRIVING FACTORS for companies diving into the Metaverse.

• Decentralisation : The New Frontier
  Centralized identity providers (Meta and Amazon) have the power to create and store users’ digital identities on their centralized systems. However, tech companies that rely on centralized technologies often fail to protect user data and interests. On the other hand, decentralized networks built on blockchain can ensure no single entity has rigid control over a technology/platform. The success of metaverse depends on whether it is open-source, interoperable, democratically controlled, or driven by the few as has been the case in the current Web 2.0. Thus, user empowerment will be key. 
• Retail : Immersive Consumer Interaction and experience :
  Virtual cafes, Virtual fashion shows, virtual concerts, virtual shopping – a virtual economy but real experiences in real-time. The new era of customer engagement sounds transformative. A good Metaverse customer experience should facilitate the flow of customers between your business and other parts of the metaverse. Technology like holograms can replace wordy emails and blogs to communicate in a more immersive way with the user. When it comes to remote team collaboration, a virtual space with 3D life-size avatars and objects can help get rid of isolation. The possibilities are endless, but proceeding with caution in the untapped realm of a realistic virtual world is necessary.  
• Enabling : Creator Economy Boom :
  It would enable the creators to create and monetize the content. Can emerge as a creative-centric platform. NFTs are creating a new revenue model for the existing virtual spaces, from virtual lord ownerships to new forms of digital art. The introduction of unique, rare, and indivisible tokens enables creators to discover fans and monetize in a new way without middlemen.