A New Era of Content Creation: The Metaverse and Its Opportunities for Creators
By Shukyee Ma, founding member of surreality
The term “metaverse” was first used in 1992 by novelist Neal Stephenson in his book Snow Crash. It referred to a multi-connected virtual universe built on the internet that could simulate and enhance real-world experiences. Although this vision is straight out of the wildest science fiction, tech companies over the past few years have invested deeply in research and development to make it our new reality. Social media giant Facebook recently changed its name to Meta, indicating this transition, and many other startups have been working towards a decentralized metaverse built on the blockchain.
After all this effort, one thing is clear, the metaverse is the future and there is industry specialists who believe it could potentially be worth trillions of dollars, affecting every corner of our economy. However, the creator economy is where the effects of the metaverse will first be felt, and Forbes believes it “radically changing content creation forever.”
The future of content — immersive and interactive
“Ultimately, it’s really the creators and developers who are going to build the metaverse and make it real” – Mark Zuckerberg
Now, let’s be clear. Mark Zuckerberg’s version of the metaverse is not the most widely accepted. After all, we advocate a virtual world that is decentralized and community-governed. But that quote is the only thing we can agree with. The metaverse and all of its promised experiences cannot be transmitted on a platter. While corporations provide the underlying technology and tools, like a blank canvas, it is ultimately individual creators who will bring the metaverse to life.
In this regard, the metaverse personifies the opportunities for creators and its effects on the $104 billion creator economy could be huge. The intelligent use of technologies such as augmented reality and virtual reality paves the way for the creation of immersive and interactive content while allowing creators to diversify their activities in entire dimensions.
For example, musicians can host fully immersive virtual concerts on the Metaverse that can bring in audiences from around the world without geographic limitations. American rapper Travis Scott attempted a virtual concert in the Fortnite universe and he got more 12 million users present. So, music creators used to posting pre-recorded videos to YouTube and other platforms will now have a whole new opportunity.
But, aside from that, artists can create and sell 3D art to display on the walls of virtual homes in the metaverse. They can host large-scale art auctions on the metaverse and once again attract buyers without any geographic limitations. British auction house Sotheby’s is already well on its way to making that a reality by recreating its London headquarters on the Metaverse to exhibit the art of 27 NFT artists.
Similarly, fashion bloggers could launch their own digital fashion line that their followers could buy and wear in the metaverse. Travel bloggers could take their fans with them on virtual tours of the world, and educators could create full-fledged classroom learning experiences for their students.
All of these opportunities will open doors for multidimensional content. Not only immersive, focused and globally accessible, but also fully interactive. These interactions, however, will go far beyond the likes or comments we are used to. The public can give their opinion live, in real time. Through these deeper and more meaningful interactions, the relationship between fans and creators will also evolve to new dimensions. Very soon, metaverse parties and fan meetups could become a thing where creators and audiences can meet and interact face-to-face in virtual homes or workspaces.
Creators directly monetize their notoriety and position within the metaverse using social tokensfans can support their creators in myriad new ways, and it all gives a whole new meaning to the fan economy as we know it today.
In short, at the dawn of the metaverse, we are also at the dawn of the new era of content creation. Everything from art to music to images and videos is needed to bring this new virtual universe to life. And any creators who have a proven track record in these areas and who can use technology to create exceptional work for the Metaverse have a huge opportunity up their sleeve.
Content is Kingdom; Creator Kings
Content is the very nature of our experiences on the Internet. Content creators have undoubtedly played a huge role in creating today’s Web2 space. Platforms like YouTube and Google would have been nothing without the creators who take the time to create content for them. When you take that into consideration, it’s safe to say that content creators will play a pivotal role in building the Metaverse, and in turn, the Metaverse will be critical to the success of creators in the future. A symbiotic relationship we didn’t know we wanted.
About the Author:
Shukyee Ma is a founding member of surreality, the first interest-based metaverse framework for DAO. A Berkeley graduate, she is a serial social media and fintech entrepreneur with expertise in business strategy and product development. Overeality recently announced a partnership with Vini Jr., a Brazilian professional footballer who plays as a striker for Spanish club Real Madrid and the Brazil national team. This strategic partnership will include a series of NFTs that will drop on Overeality’s platform.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.