The Metaverse: Separating Hype from Reality

Virtual worlds have been around for a while, but with the name change of the parent company from Facebook to “Meta” the concept of 'metaverse' got suddenly a lot of attention. Metaverse is the future virtual world that ties together all other pre-existing virtual worlds. This changes the current 'flat' 2D worldwide web to a three-dimensional world. We see countless organizations getting started with this, attracting tens of millions of visitors to their virtual establishment in the metaverse.

But where does the metaverse actually come from? What kind of special applications do we already see worldwide in the most diverse sectors? What is 'big tech' planning to work on and how are governments responding? What are the developments in the short and long term? In this Leqture, Jan Scheele takes you on a virtual journey through the wonderful world of the metaverse.

During the expert session, Jan Scheele engages the audience through a Q&A session, live demonstrations of metaverse applications, and an interactive exercise using the Mentimeter app to explore virtual currencies and NFTs within the metaverse. These activities provide insights into the potential challenges and opportunities in the metaverse, including privacy, security, regulation, capacity, and striking a balance between virtual and physical life. Jan emphasizes the need for individual responsibility, time management, and the involvement of various technologies like IoT and AI. The session concludes with a look at exciting advancements in the metaverse, such as touch, smell, and taste experiences, and an invitation to participate in further exploration through a survey linked in the chat.
 

• Discovering New Business Opportunities in Virtual Worlds: The metaverse offers a vast potential for businesses, from virtual production planning and sales to entertainment and socializing. Companies like Hundai, Walmart, and Alibaba are already leading the way, but the possibilities are endless.
• Balancing Reality with Virtuality: As we delve deeper into the metaverse, it's essential to maintain a balance between virtual and physical life. This includes managing time effectively, being responsible for our actions in a digital world, and considering the environmental impact.
• Navigating the Future of Currencies and Digital Assets: The metaverse will introduce new economies centered around virtual currencies, NFTs, and digital assets. Governments are taking steps to regulate these areas, but it's crucial to stay informed about this rapidly evolving landscape.

In this expert session, Jan Scheele explores the latest trends and developments in the Metaverse, focusing on its economic potential and impact on various industries. Jan begins by highlighting the significant growth of the gaming industry, with over three billion active gamers worldwide, and Americans spending an average of 16 hours per week playing virtual games. In-game purchases have become a substantial market, generating $160 billion annually.

 

Jan then discusses the digital transition during the COVID-19 pandemic, leading to a surge in online activity, including work, entertainment, and social interactions. He mentions that many experts predict office meetings will soon take place primarily in virtual environments. Jan also introduces the concept of the Metaverse, an immersive virtual world where people can create, transact, and socialize.

 

Jan discusses various developments in the Metaverse, including virtual production planning for industries like car manufacturing and breweries. He explains how organizations are using virtual environments to plan production processes more efficiently and offer consumers customized products. Furthermore, Jan highlights the potential of virtual B2C sales, such as Hundai's ability to let consumers design their cars virtually without any speed limit. Walmart is also using IoT data to suggest products based on consumer needs in a virtual supermarket setting.

 

Jan also touches upon the combination of technologies and the emergence of new economies centered around NFTs and virtual clothing. He mentions that many young people are designing their own virtual clothes and avatars on platforms like Roblox, leading to the next generation of designers and creators. Organizations are also entering the metaverse for entertainment purposes, such as opening clubs or creating experiences for their communities.

 

However, Jan acknowledges the challenges and concerns surrounding privacy, security, regulation, capacity, and the balance between virtual and physical life. He mentions that there are concerns about data being shared with companies like Meta and potential misuse of technology by criminals. The lack of regulation is also a significant concern, as is the immense capacity required for such a virtual world. Jan encourages listeners to explore the metaverse further but notes the importance of individual responsibility in managing time spent in these virtual environments.

Jan discusses virtual currencies and NFTs in the metaverse and emphasizes that there will not be a single global currency, as each metaverse uses its own token. He shares his thoughts on the regulatory landscape and notes that governments are taking action to prevent criminality and offer payment solutions.

 

As the session concludes, Jan answers a question about improvements in the Metaverse compared to Second Life 15 years ago. He discusses the broader applications, connections between virtual and physical worlds, and the involvement of other technologies like IoT and AI. Jan also touches upon the topic of energy consumption, acknowledging that it varies depending on the metaverse and activities involved.
 

NFTs, Web3 and What's Really Changing

Non Fungible Tokens (NFTs) are 'talk of the town'. Artists, investors, big brands, developers; they are all joining the rapidly developing NFT ecosystem en masse, with the most diverse products, services and innovations. But what are NFTs? What can you do with it as an organization or individual? What are the latest developments? Is it a bubble, or something here to stay? What are the challenges and risks regarding this relatively new technology and how can we mitigate those risks? In this session, you will get an up-to-date overview of how NFTs actually work, what the opportunities and challenges are, a handful of inspiring use-cases and a future outlook.