The Metaverse – what is it all about?

 

The Metaverse – since Facebook renamed itself, the term “Meta” has been haunting the media. Not sure what the Metaverse is all about? We will explain to you what the Metaverse is, how our lives will change as a result of the Metaverse, and what significance it will have for you as a content creator in the future.

What is the Metaverse?

The word consists of the prefix “meta” (“beyond something”) as well as the word “universe”. The term originally comes from Neal Stephenson’s 1992 science fiction novel Snow Crash. In this novel, people interact in the form of avatars in a virtual, three-dimensional space, the Metaverse.

What was still science fiction in 1992 is gradually becoming reality. The boundaries between the real and virtual worlds are merging more and more. Think of virtual shopping, for example. Or cryptocurrency and NFTs (Non-Fungible Tokens). The next step is the Metaverse.

The Metaverse – a social network?

The Metaverse is basically an extension of the Internet. But if you think it’s just another social media network, you’re wrong. The Metaverse could fundamentally change our world and become an integral part of our lives. Mark Zuckerberg put it this way,

“Metaverse isn’t a thing a company builds. It’s the next chapter of the internet overall.”

Every user can move freely and without restrictions in the Metaverse. For example, using an avatar. What will that look like exactly? Some examples:

Concerts

Your favourite band is playing an exclusive concert in Tokyo? Thanks to virtual and augmented reality, you can actively participate in this and other events in the Metaverse. You dance and sing to your favourite songs and meet like-minded fans.

Maintaining friendships and relationships

Experts assume that in 2030 we will spend more time in the Metaverse than offline. Of course, this affects relationships and friendships. Thanks to the Metaverse, you can meet, talk to, see – and maybe even touch, friends from all over the world. Depending on what the future will bring in terms of technical possibilities.

Trading

Money can also be earned in the Metaverse. Among other things, it will be possible to purchase goods. For example, in the form of NFTs. These are digital drawings, works of art, and video clips that have individual value and are currently causing heated discussions on the market.

Another valuable asset in the Metaverse will be our personal data. Google and Co. are currently recording our surfing behaviour using pixels and codes. Companies could continue to track your movements in the Metaverse, but only on the condition that you earn money from ads. Here lies an essential difference to today’s Web 2.0: In the future, big platforms such as Google and Facebook will no longer dominate the Internet. Rather, everything is decentralized in the Metaverse. We all actively shape it. In the Metaverse, you can trade and develop your own games or create cool new collections and other goods.

The Metaverse is definitely worth it for brands. Many people will be willing to spend money to outfit their avatars. This can be seen in the gaming sector, where there is a brisk trade in equipment and the like.

Virtual influencers – a phenomenon

Although the Metaverse is still a long way off, there are already first signs that the (digital) world is evolving. One example is virtual influencers.

Virtual influencers are computer-generated characters who are active on social media and create content for some companies. Many of them achieve a large reach and score with a high engagement rate. In some cases, this is up to three times higher than with other accounts. Why? More on that now.

One of the most successful virtual influencers is Miquela Sousa, aka Lil Miquela. Over 3 million people follow the 19-year-old singer on Instagram alone. She is known for her music, among other things. She regularly cooperates with big brands like Diesel, Chanel and Vans. No wonder, because working with virtual influencers offers companies a number of advantages:

• Virtual influencers are controllable: there are no scandals.
• Success is scalable and measurable.
• The content that companies want is created.

In addition, the avatars radiate a certain charm: they are beautiful, talented, successful and lead a life of luxury and wealth. Younger kids, in particular, find it difficult to distance themselves from this. For her, reality and fiction merge. A fact that is not undisputed and is often criticised.

Cooperation with virtual influencers

Should you, therefore, see virtual influencers as competition? Rather not. But working with artificial influencers can offer incredible added value. It can be worthwhile for you to strive for cooperation with virtual influencers and to create unique content for your followers. As part of a co-creation, you can present new products or go on trips together.

Making money in the Metaverse

This collaboration will become even easier thanks to the Metaverse. Platforms like stylink will definitely play an important role here. They help you to easily get in touch with (new) customers and to give your followers attractive product recommendations. It is conceivable that in the future you will present avatar collections from companies such as H&M, visit a trade fair virtually or test a consultation/service live. Instead of using the Linkmaker, customers could then track the success of your content differently. This is not yet planned, but an example would be that companies record how many users bought the new sweater, make-up or service based on your recommendation.

Conclusion: Living and trading in the Metaverse

The Metaverse will offer a lot of new possibilities, some of which we can’t even predict yet. In any case, it is an exciting topic that you as a content creator should keep an eye on.

What do you think: How will the Metaverse affect our lives? Do you see any critical points? We are looking forward to your opinion.