The future awaiting us seems far more virtual than it did a year ago...
think of it as an enhanced successor to the current version of the internet—a new frontier for online interaction blending the physical and digital worlds through computer-generated avatars. Millennials and early Zoomers may remember “The Sims”, a series of life simulation video games, launched in 2000, where you could practically build a second life for the digital version of yourself, or a character of your dreams.
, “over the coming decades, the metaverse has the potential to become a multi trillion-dollar part of the world economy.” has evolved from a popular multiplayer game into the preferred social network of an entire generation and has even hosted virtual concerts featuring celebrities like Ariana Grande and Travis Scott.
Brands are also staking a claim in the metaverse. Nike has launched Nikeland, a virtual gaming experience on gaming platform Roblox, where users can dress their digital avatars in the company’s products. In September, Dolce & Gabbana sold the first-ever collection of non-fungible tokens by a fashion brand for about $5.7 million. Five tokens featured in the drop were accompanied by physical versions of the items, and the other four were digital-only pieces.
If digital garments sound alien, consider Microsoft’s vision to transform workplace experiences along that vein. Next year, the company plans to roll out a new feature, Mesh for Microsoft Teams, which is designed to make online meetings and collaborations more immersive—again, with the use of avatars.
But of all corporate forays into the metaverse, the loudest is, undoubtedly, that of Facebook, which in October changed its name to Meta to reflect the company’s ambition beyond social media. The re-branding came amid multiple controversies surrounding the company, but nevertheless indicated that the focus on augmented and virtual reality will define Facebook’s strategy going forward.
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