What Will the Metaverse Be Used For?

As the metaverse begins to emerge from Sci-Fi novels into reality, the question on many peoples’ mind is – what exactly will it be used for?

As part of Metaverse May, we’ve collected opinions and predictions from industry professionals on what the metaverse could potentially be used for as technology around it continues to develop.

 

Our Industry Professionals:

  • Paul Lewis – Chief Customer Officer at Adzuna
  • An Coppens – Chief Game Changer (aka CEO) at Gamification Nation Ltd
  • Avihay Feld – Co-Founder and CEO of Browzwear
  • Timothy Parent – Head Of Marketing at
  • Louis Adler – Principal and Co-Founder of REAL New York
  • Boyd Cohen – CEO of Iomob
  • Mark Homza – CEO and Co-Founder of Funday Agency
  • Alan Kittle – Creative Director at Summer Friday
  • Sarojini McKenna – Co-Founder of Alien Worlds
  • Paddy O’Neill – Country Manager UKI at Spendesk
  • Peter Gould – CEO of RendezVerse
  • Jim Gastle – Co-Founder of Terrifio
  • Erica Moreti – Head of Strategy & Innovation and Physical Experience at EPAM Continuum
  • Michael Gaizutis – Founder and CXO at RNO1
  • Slava Podmurnyi – CEO at Visartech

 

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Paul Lewis

 

Paul-Lewis-Adzuna

 

Company: Adzuna

Website: https://www.adzuna.co.uk/

 

“In just three months, the number of vacancies related to the metaverse has grown fivefold. But this begs the question of what the metaverse can actually be used for. Employment in the metaverse is going to be a huge opportunity, with individuals having the ability to make anything from $100 to $20,000 per month. Here are 5 of the most interesting jobs that the metaverse is creating.”

“Tour guides will be required to guide, advise, and host guests around various spaces within the metaverse, much like a regular tour guide. Land is already available to buy in the metaverse through agents such as Metaverse Property. This means that more and more virtual real estate agents will be required as the sphere grows. With plots already going for up to $4.3 million, this is a real opportunity. Given the fact that avatars in the metaverse are a virtual representation of people, metaverse personal stylists are also going to be in high demand. With companies such as Nike already having clothing in the metaverse, this is a role that is only going to grow. The metaverse is bringing in new types of asset classes, which need new laws, meaning that metaverse lawyer will soon be a job title. Virtual stewards will also be required. Their role will entail moderating the virtual spaces, including ensuring that individuals follow the rules. They will also be responsible for creating a community feel.”

“These opportunities are just the tip of the iceberg. The metaverse is going to create a huge number of jobs, with full and part-time opportunities available, and is predicted to create far more jobs than it will take away, making it an exciting opportunity for jobseekers.”

 

An Coppens

 

An-Coppens

 

Company: Gamification Nation Ltd

Website: https://www.gamificationnation.com/

 

“We are working on a metaverse for work (www.MyGNation.rocks), so I believe that the digital nomad lifestyle which has become much more prevalent since the pandemic will be a driver for employees to want to work from anywhere. It also poses the problem that managers don’t have the same oversight of their team and they spend more time in meeting to find out who is doing what. Our take on the metaverse is to provide a digital office space built for humans and with all the connection elements you need for both productivity and human well-being.”

“We also want to enable the creator economy where creators can earn money by selling their goods and wares, whether it is a digital twin of something in real life or simply a digital product that fits within our eco-system. I believe the traditional concept of a nation and where you belong should be challenged and ultimately you should have the choice where you contribute. Maybe we should have a digital choice alongside our real life choice.”

 

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Avihay Feld

 

Avihay-Feld

 

Company: Browzwear

Website: https://browzwear.com/

 

“It’s not yet clear where the metaverse is going, but it’s easy to imagine two possibilities. One of these is a metaverse that is a departure from reality, where virtual worlds are fantastical and the things inside of them can defy the laws of physics that govern the real world. The other is a metaverse that offers realistic experiences that are somewhat analogous to those in the real world. I believe it’s this second scenario that is the key to widespread adoption.”

“If we’re able to have real-feeling virtual experiences, it opens opportunities to a host of use cases. Commerce is one of the most obvious, and it would also bring in the revenue needed to fuel further development.”

“Some of this commerce will stay in the digital world. For example, if people are being represented by and interacting as avatars, they’re going to need clothes. This will give rise to a new generation of digital fashion designers and virtual boutiques. Other commerce transactions might be digital / physical hybrids, and others may be real-world goods bought and sold in the virtual one.”

“Still, whether the metaverse is yet another buzzy trend or a real paradigm shift will depend on how these immersive experiences bring value – both to the general public as users and to brands and businesses whose dollars will be critical to growth.”

 

Timothy Parent

 

Timothy-Parent

 

Company:

Website: https://www.meaningfulgigs.com/

 

“The Metaverse is also a reflection of humanity, but more importantly it is an opportunity to create a better version of ourselves and our reality. Individuals like you and me will be able to contribute to the Metaverse by reimagining ourselves, but there is currently just a handful of companies that are creating the structure of the Metaverse itself. To create a ‘better’ version of our world that is more equitable, representative, and inclusive, it is imperative that diverse groups are active in the construction of the Metaverse at a more foundational level.”

“But as much as the Metaverse is an opportunity, it is also a threat. Some people think that the Metaverse is the “colonization of consciousness,” with the potential to consume peoples’ identities, lives, and even minds. While there is boundless positive potential, there is a myriad of potential problems that individuals must be made aware of.”

 

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Louis Adler

 

Louis-Adler

 

Company: REAL New York

Website: https://www.realnewyork.com/

 

“Real estate is among the most highly talked about adaptations within the metaverse. However, what’s coming next will be a new generation of property development and opportunity. This could give landlords and developers the ability to design and develop residential and commercial assets within the digital and physical realms that can simultaneously exist with the potential for future returns on investment.”

“The advancement of spatial data analysis for virtual visualisation of a yet-to-be physically build-out space has evolved entirely as a tangible asset. Given these adaptations within the metaverse, this has resulted in a new approach to the real estate marketplace. We will likely soon see a multitude of crossover opportunities for future investment and development. This will give landlords and developers the ability to create residential and commercial investment opportunities within both the metaverse and physical realms simultaneously.”

“When applied to activity seen in today’s market, particularly in major metro regions such as New York City, retail and commercial spaces have yet to return to pre-pandemic levels. This type of adaptation within the metaverse will allow landlords and developers standout in marketing a property, as well as for the creation of a marketplace that has the potential for future coexistence and profitability.”

 

Boyd Cohen

 

Boyd-Cohen-Iomob-CEO

 

Company: Iomob

Website: https://www.iomob.net/

 

“The early success stories of the Metaverse started with gaming and entertainment, however we are just at the beginning of an explosion in approaches to the Metaverse. We’re about to embark on a “Metaversal Industrial Revolution” that merges fundamental offline behaviours with their digital counterparts. The goal will be to facilitate previously unimaginable ways of experiencing nearly every aspect of life.”

“We’ll soon be focused on delivering more utility-first driven experiences for functional, day-to-day needs. These include real world things like viewing a home for purchase or an apartment to rent such as the recent announcement by Damac in Dubai, shopping, going to class which will take the concept of massive open online courses (MOOCs) to a whole new level, or planning and booking travel / transportation such as the recently announced partnership between the Next Earth Metaverse, Vueling Airlines and Iomob.”

“In these scenarios the Metaverse has the potential to add more value. For instance, when traveling or commuting wouldn’t it be great if people could book more purpose-aligned journeys, by actually enabling them to see where their choices result in a low carbon or even carbon positive trip and to visualise their entire journey? The Metaverse makes that possible.”

“What’s often overlooked with the Metaverse is the power it has to visually enhance the human experience. As humans, we learn and are profoundly impacted by the things we see and are immersed in. Given this, the Metaverse is uniquely positioned to guide or change our behaviour. In the coming year we’ll increasingly see the Metaverse wake up to a whole new way of visualising the real-world to continue adding value for customers across nearly every brand and vertical.”

 

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Mark Homza

 

Mark-Homza

 

Company: Funday Agency

Website: https://www.funday.agency/

 

“The metaverse is in many ways a 3D version of the internet and experts suggest it will be a trillion-dollar industry within 2-3 years.”

“Kids and gaming aficionados around the world are already immersing themselves in games such as Fortnite where they use verified avatars and digital currency, movie titles are providing immersive experiences in addition to their theatrical or streaming releases via Oculus Quest 2 like Star Wars. And imagine being transported to Roman times as you study human history at school in a virtual reality setting. From a medical perspective – patients will be able to access and attend virtual mental health sessions with professionals in real-time.”

“Thus the metaverse could represent the future of sports and film entertainment, travel, gaming, remote work and productivity, health, and education. And you’ll never leave the comfort of your living room.”

“This is where hardware products like the Oculus Quest 2 are providing such enhanced virtual and immersive experiences. And the more affordable these devices become and feel closer and closer to reality due to their continuously powerful graphic engines, the larger the mainstream adoption will be.”

“Funday is a global creative agency that works with Web2 brands looking for ways to shift towards becoming Web3 companies. And in the background, the first of many Web3 brands are being formed. For example, gmgn supply co is the first CPG DAO, a web3 business model where members of the decentralised autonomous organisation (DAO) are owners and get to vote on major decisions from what they eat to what products are being sold and/or marketed. There is a true demand for what the metaverse has to offer and the market value is predicted to grow by USD $677.98 billion between this year and 2026 – meaning the space is just beginning to take off.”

 

 

Alan Kittle

Company: Summer Friday

Website: https://heysummerfriday.com/

 

“In my mind, when thinking about how enterprises might adopt full or “inspired by” metaverse experiences into their ways of working, it’s worthwhile looking through the lens of gaming and how it evolved rapidly from coin-op arcades to massive multiplayer worlds. Gaming is the precursor to the metaverse in many ways. And for employees, their attitudes and experience with video games will expedite faster or slower adoption of more immersive workplace interactions.”

“Recent Persona research by Newzoo shows a perception-busting array of generations who consider themselves gamers. From 16-61, their attitudes and level of conviction to gaming changes, but they share commonalities in how the pastime of gaming prepares them for how we could translate world-building, challenge-setting, and reward-providing into workplace culture and experience design.”

“To be clear we’re not talking about virtual reality town halls here … there’s little emotional or functional uplift from video conferencing to VR in something as mundane (no offence) as a team meeting. What we are talking about is the transformation of employee and stakeholder engagement in areas where game mechanics; amygdala-activating virtual experiences; and cultural benefits of XR experiences far exceed today’s common solutions.”

“Furthermore, the use of avatars can provide anonymity; control over traits and characteristics; and high degrees of connectedness; all remove the physical barriers of geography and work versus home location. We saw certain teams in businesses “MacGyver” their own solutions inside games including Animal Crossing and Red Dead Redemption during many months of “shelter in place” … they found ways to enhance collaboration, problem solving and achieving success all on their own.”

“So, when the idea of a gaming-inspired metaverse mindset is fully embraced by CTO, CHRO and CEO simultaneously, the possibilities are truly limitless. The only outstanding question? Which enterprises are going to win first place by beating the Final Boss at the end of the game?”

 

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Sarojini McKenna

 

Sarojini-McKenna

 

Company: Alien Worlds

Website: https://alienworlds.io/

 

“Alien Worlds will be the market leader for play to earn blockchain games where players earn Trilium, which can be taken off the platform and exchanged for other crypto tokens, stablecoins or fiat currencies.”

“Within the next 5 years, the Alien Worlds, my co founders and I will take a much smaller role in the company as the community of users will take on a larger role of decision making under the DAO structure. The players will rule the game, as the philosophy of DAOs emphasises that the members rule,”

“Decentralised Autonomous Organisations (DAOS) are member-owned communities, meaning there is no governance or one leader controlling all of the rules, decisions, and functionalities of the organisation. For example, a charity is similar to a DAO, as you can accept membership and donations from anyone in the world and the group behind it decides how they want to spend donations.”

“The future of the Metaverse is already here and is being dictated by decentralised communities which will lead to much more diverse, interesting and inclusive outcomes,”

 

Paddy O’Neill

 

Paddy-O'Neill

 

Company: Spendesk

Website: https://www.spendesk.com/en/

 

“The metaverse is still in its infancy, but the pandemic showed how quickly workplaces can adapt to new technology when they have to. Perhaps the metaverse will become an alternative to Zoom? It’s easy to see the appeal of virtual avatars after years of video calls and carefully arranged bookshelf backdrops.”

“It’s likely that teams will become more global as the remote working revolution continues, which opens doors for diversity and talent acquisition, but risks team fragmentation. The metaverse presents opportunities for shared social and work spaces for remote staff to collaborate in a customisable environment they can shape to their tastes. The possibilities for self-expression in a virtual environment are, after all, limitless.”

“However, there are questions that will need to be answered before we fully embrace the metaverse as part of our daily working life. How bug-free and intuitive are virtual workplaces? We’ve all seen how messy a video call can get when there are technical difficulties, and that’s on a system much less complex than a 3D environment rendered in real time.”

“For the metaverse to serve as a functional workplace, we would need to be able to integrate the existing tools we use to manage the workload, time and productivity of our staff. Instant messaging, file sharing, timesheets, CRMs — how will the metaverse interact with these business essentials and how will it enhance the experience over what we use now?”

 

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Peter Gould

 

Peter-Gould

 

Company: RendezVerse

Website: https://rendezverse.com/

 

“The metaverse will transform the way hotels are marketed, how venues are chosen and eventually the way that people meet.
Web3 tech is creating new ways to market, monetise and select hotel and event spaces in the future. Travellers will make choices in the metaverse and hotels will be selling VR meeting spaces alongside their physical ones, very soon.”

“RendezVerse is building a metaverse for the hotels and events industry, bringing together buyers, venues, service providers and event specialists inside digital twins of some of the most iconic venues and hotels in the world. We envisage enabling meetings, site visits and eventually events in the metaverse, through the use of VR and Web3 technology.”

“Using the metaverse to cut down on unnecessary business travel will allow businesses to employ more carbon neutral practices. Not only this, the metaverse has no boarders, no passports required and is pandemic free. It removes the barriers of travel and time, allowing businesses to meet and host an incredible range of people anytime, anyplace, anywhere.”

 

Jim Gastle

 

Jim-Gastle

 

Company: Terrifio

Website: https://www.terrifio.com/

 

“The Metaverse isn’t something that we will use. Like the early internet, it is there for us to conjure up things that it can be used for. The internet was a communication tool and we needed to figure out how to transition from a print, audio and video world into that thing called “digital”. Now, the internet is pervasive in everything we do. Our ability to “use” it depends on the equipment we have, the faster the processing speeds of our computer, and our internet connection, the better the outcome.”

“As with the internet today, so with the Metaverse tomorrow. We’ll access by Virtual Reality (VR), Augmented Reality (AR) or Mixed Reality, with other tools to allow us to immerse. Once we’re there, we won’t use the Metaverse, we’ll use a plethora of tools, such as VR treadmills, support slings and the like, allowing standing mobility. The Metaverse is presently modelled by a number of closed virtual environments. When fully realised, all such virtual environments will be “open” and the transition between our little corner of the universe and the Metaverse, and between digital worlds in the Metaverse, will be seamless.”

“Indeed, new platforms are being developed to encourage an open Metaverse, such as those initiatives supported Outlier Ventures. Think of the windows in your car, acting as screens to produce 2D, 3D and holographic images, perhaps even as your vehicle progresses along a highway. In our universe, the highway may be in the city, but may be transformable to an AR seaside cruise, along with all the vehicles around you. IP creators everywhere are just getting started at building this new world for us. Today’s global IP regime will need to evolve alongside the coming wave of innovation if IP rights are to be meaningful and enforceable rights in a world where national borders become meaningless. We won’t use the Metaverse any more than we use our present reality. For those of us around to see when it when it indeed becomes a virtual reality, it will change our lives.”

 

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Erica Moreti

 

Erica-Moreti

 

 Company: EPAM Continuum

Website: https://www.continuuminnovation.com/

 

“The metaverse is shifting behaviours across multiple realities. In the future, we can imagine the establishment of a multiverse: decentralised and seamless interconnected realities that will enable you to move freely (and screen less) across universes—augmenting things, places, people.”

 

Michael Gaizutis

 

Michael-Gaizutis

 

 Company: RNO1

Website: https://rno1.com/

 

“For most companies and creators, the metaverse offers new and exciting opportunities for full brand immersion. That will take shape in many different ways depending on the industry sector. Fashion and e-commerce companies are designing virtual shopping experiences or fashion shows, while real estate is populating virtual land. There are unlimited possibilities, but they all require great design and an experience that engages users and sustains our interest.”

“The digital frontier is growing and evolving at a rapid pace, so not only do brands need to evaluate what best aligns with their goals, but they also need their concepts to be agile to account for inevitable adjustments. The metaverse will be a place to test customer loyalty and engage top design talent to open new sales funnels. As we’ve seen in the early stages of Web3, not all experiences make sense or will work with brand longevity, however. By taking that next step and investing in great design partners, investors will feel more confident and users will feel more central to the concepts they take part in.”

 

Slava Podmurnyi

 

Slava-Podmurnyi

 

Company: Visartech

Website: https://www.visartech.com/

 

“The much-hyped metaverse keeps sparking conversations up until this day. There is a common misconception that metaverse is supposed to be solely used for entertainment and engagement. For instance, take the gaming industry to the next level.”

“However, the metaverse can be an excellent technological advancement in different areas of life and business. The key point here is to follow the trend the smart way. Namely, leverage such virtual world solutions to bring value to people. Thereby enhancing their life by means of innovative technology.”

“Let’s take the EdTech industry. The modern learning experience consists of more time spent online than ever. This shift calls for new ways of online collaboration that allow for learning experiences close to the ones in real life. Metaverse capabilities can help solve this task. Educators can build virtual rooms adjusted to their specific educational needs, thus enabling students to learn complex elements through 3D graphics. Furthermore, with an option to customise avatars and create different items students can interact with virtual objects and put theory into practice.”

“Though surprising, metaverse has a lot in store for the finance industry. The requirement for better security and simplified private transactions is continuously growing. All of that can be achieved in a metaverse. Banks entering the metaverse embrace cryptocurrency which means they can offer clients efficient and secure payment transactions. Additionally, people use digital wallets to store cryptocurrencies as well as to carry out financial transactions such as selling or buying products.”

“There’s a wealth of opportunity in the metaverse for the Art industry as well. Visiting all museums and art galleries around the world is impossible unless all of those are in the metaverse. That’s why virtual prototypes of famous art establishments can be an incredible opportunity for people to expand their horizons.”

 

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