Brands that thrive in the future will embrace the metaverse, keeping pace with users’ shifting preferences and expectations by creating innovative experiences. Cathy Hackl, Yat Siu, Dirk Lueth, John Arkontaky and Tommaso Di Bartolo guide readers through the rapid evolution triggered by new technologies, the metaverse and decentralization. An abundance of opportunities and revenue streams are emerging, they say, and leveraging them requires a powerful mind-set shift. Put people first, overcome dated views of users as “consumers,” and embrace them as partners and powerful co-creators.
The metaverse is an emergent technological ecosystem supporting a decentralized economy.
Few people can offer a precise definition of the metaverse as few could clearly define the internet in its early days. The metaverse exists in a state of potentiality, and embodies the top-tier hierarchy of all existing blockchain systems – comprising virtual spaces, hybrid space and real-life spaces – while enabling people to engage in emergent social, personal and commercial experiences through Web 3.0. The word “metaverse” contains the root words “meta” – a prefix that Webster’s dictionary defines as “situated behind or beyond” – and “universe.”
The metaverse is a loosely connected blend of social media, blockchain, web, DeFi (decentralized finance), gaming and advanced hardware. No individual company can accurately claim to be “the Metaverse,” much as, for example, Google can’t claim to be “the internet.” Its future hinges on the development of interoperability and the ability of multiple systems to connect and share information. Visualize the metaverse as you would the solar system: Imagine the sun everything orbits around...
Cathy Hackl is the chief metaverse officer and CEO of the metaverse consultancy, The Futures Intelligence Group and also wrote The Augmented Workforce. Co-founder and co-CEO of Uplandme, Inc. Dirk Lueth also wrote Video Profits. Tommaso Di Bartolo also wrote How to Growth Hack Your Startup. John Arkontaky is a writer, journalist, content marketer and editor.
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