There’s a lot of chatter at the moment about the Metaverse.
Firstly, what is the Metaverse?
The Metaverse is being described as the successor to the internet.
We currently experience the internet in 2D: on webpages and mobile apps. The Metaverse will be an immersive and embodied internet. We’ll spend time in worlds and spaces as 3D avatars, and we’ll access those worlds via VR headsets, AR glasses, mobile devices, gaming consoles, and yet to be invented devices.
Although Zoom allows us to see and communicate with people on a 2D screen, the Metaverse will add 3D presence to online interactions. Although we can buy and purchase products online today, the Metaverse will have digital products that we buy with digital currency—the ownership of these assets will be confirmed and secured via the blockchain.
It may sound futuristic, but the Metaverse already exists in some really successful forms—take Fortnite as an example.
Most people—read: parents—think of Fortnite as “just a game”, but it’s a functioning and thriving instance of the Metaverse.
It has more than 350 million users, who collectively spend more than 3 billion hours playing each month—and average of 8.5 hours per user; which is nuts!
To prove it’s more than just a game, let’s take a look at the in-game live concert that they put on with artist, Travis Scott. Over 12 million users attended the live concert. To put this number in perspective, this is the equivalent of filling Wembley Stadium 133 times. Travis Scott made an estimated $21 million from the event.
Fortnite is just one example of what the Metaverse can be. Think of Fortnite being a leading player—like an Amazon or a Google. And think of the Metaverse being the platform upon which the next wave of companies, innovations, and technologies are built.
Crazy.
Note: If you’re interested in reading more on the Metaverse, I’d recommend checking out Matthew Ball’s Metaverse Primer.