Visualizing the Metaverse of the Future

Themed “Decentralizing The Future of the Internet” web3 technology becomes the main topic at the event Nexticorn International Summit (NXC) this year. WIR Group, a company that focuses on developing web3 technology, presents some interesting information from A to Z that is worth listening to.

For information, NXC will be held again in Bali on August 31 to September 2, 2022. This activity will focus more on providing socialization and education related to web3 which is predicted to be the future of the internet technology industry.

In the series webinar welcome NXC which is presented this time with the theme “Metaverse: A Vision to the Future”, presenting Stephen Ng as Chief Metaverse Officer of WIR Group and CEO of Metaverse Indonesia. It discusses what real-world visuals are like with the metaverse when the two become the new normal in the future.

Game "Second Life" comes true

Stephen takes the game approach to make it easier to visualize what the metaverse looks like. Second Life is the game most often correlated with the metaverse. This digital game released in 2003 by Linden Lab is essentially an example of a metaverse with centralized authority.

Although this game is not meant to change real life, it demonstrates many of the concepts that exist in Meta's idea for a metaverse, including building an eternal community of millions of people living together in a virtual space.

Second Life is reported to have millions of active users in a self-made virtual world complete with property sales, virtual goods marketplaces, and a functioning economy that is self-reported to be worth about $500 million in GDP around 2007, according to Time.

Some Second Life users try to make a living, others express alter-ego, in some cases they hold virtual marriages, build dream homes, and follow the title by living a second life.

“That Second Life fulfills many roles from the current position of the metaverse, but in that year there was no web3. In the game there was a virtual economy that couldn't be proven using technology at the time, but it already exists virtual economy, virtual currency, and so on,” said Stephen.

Basically, games are pintu best in introducing new technology to the public because it is minimal barrier. It is this correlation that ultimately led to the birth of the concept play-to-earn (P2E), which allows the platform to provide players with the opportunity to acquire all forms of in-game assets and items that can be transferred to the real world into money or other means of exchange of value. In the world of NFT, P2E games are known as GameFi, a combination of Gaming and decentralized finance (Challenge).

"Term play and earn this will gradually change behavior people in the metaverse, because it allows us to express ourselves in fun new ways, in the form of avatar. "

Stephen explained, like most other new technologies introduced, the younger generation in this case will return to being early adopting because of their close attachment to technology. "The rest will follow," he continued.

This condition is in line with the increasing number of brand who are starting to think of new ways of acquiring these young people as their users. Metaverse can be a new channel. The reason is, the metaverse offers a better experience immersive to the audience. On the one hand, users will still be protected by their works thanks to blockchain, allowing them to continue to earn royalties on top of ad revenue.

“Tiktok at first booming At the beginning of the pandemic, people suddenly became creators. Imagine with the metaverse, they can still be creators but can provide an immersive experience to their audience. Metaverse Indonesia was created to be a platform for these creators, so we believe that the metaverse will be developed.driven by the creators."

Wide utilization

For brand, entering the metaverse is not just a new marketing channel. But it must be considered what technology is relevant to them, because relevance is key because it can create profits for businesses. Stephen said, there are three things that must be considered for: brand before entering the metaverse.

Namely, engagementWhat do you want, what kind of activities do you want, and what kind of activities do you want? positioningbecause they will compete with other brands. “Please start getting ready [brand] because from now on the creativity must be redesigned because it has to be immersive. Also in the metaverse should think about the easiest way of monetization for the user. "

Thanks to the potential offered from the metaverse and combined with the number of young people in Indonesia, there has been a need for new talents. Stephen said that the livelihood that would be needed in the metaverse, for example, was urban planning because it required an environmental mapping that is similar to reality.

The use of the metaverse is not only for playing games, but also for educational functions. One example that is being carried out globally is bringing the historical site of Machu Piccu into the metaverse, so that everyone in the world can experience the history of Machu Piccu wherever they are without having to visit the location.

"In fact, we can also create how the history of Indonesia happened, how President Soekarno read the text of the proclamation and saw the tribes in Indonesia. The metaverse opens up many opportunities for education, too diversity without destroying the forest. Learning history becomes more exciting.”

In addition to the glittering potential that the metaverse will offer, Stephen also emphasizes how to educate about its negative impact. One of them is the impact of dissonance between real life and metaverse which has an impact on mental health.

"The key is in ourselves how to position us towards technology, how we create privacy because life has been mixed between the metaverse and the reality. That should be taught at school levels," he concluded.