In this expert session, Jan Scheele explores the latest trends and developments in the Metaverse, focusing on its economic potential and impact on various industries. Jan begins by highlighting the significant growth of the gaming industry, with over three billion active gamers worldwide, and Americans spending an average of 16 hours per week playing virtual games. In-game purchases have become a substantial market, generating $160 billion annually.
Jan then discusses the digital transition during the COVID-19 pandemic, leading to a surge in online activity, including work, entertainment, and social interactions. He mentions that many experts predict office meetings will soon take place primarily in virtual environments. Jan also introduces the concept of the Metaverse, an immersive virtual world where people can create, transact, and socialize.
Jan discusses various developments in the Metaverse, including virtual production planning for industries like car manufacturing and breweries. He explains how organizations are using virtual environments to plan production processes more efficiently and offer consumers customized products. Furthermore, Jan highlights the potential of virtual B2C sales, such as Hundai's ability to let consumers design their cars virtually without any speed limit. Walmart is also using IoT data to suggest products based on consumer needs in a virtual supermarket setting.
Jan also touches upon the combination of technologies and the emergence of new economies centered around NFTs and virtual clothing. He mentions that many young people are designing their own virtual clothes and avatars on platforms like Roblox, leading to the next generation of designers and creators. Organizations are also entering the metaverse for entertainment purposes, such as opening clubs or creating experiences for their communities.
However, Jan acknowledges the challenges and concerns surrounding privacy, security, regulation, capacity, and the balance between virtual and physical life. He mentions that there are concerns about data being shared with companies like Meta and potential misuse of technology by criminals. The lack of regulation is also a significant concern, as is the immense capacity required for such a virtual world. Jan encourages listeners to explore the metaverse further but notes the importance of individual responsibility in managing time spent in these virtual environments.
Jan discusses virtual currencies and NFTs in the metaverse and emphasizes that there will not be a single global currency, as each metaverse uses its own token. He shares his thoughts on the regulatory landscape and notes that governments are taking action to prevent criminality and offer payment solutions.
As the session concludes, Jan answers a question about improvements in the Metaverse compared to Second Life 15 years ago. He discusses the broader applications, connections between virtual and physical worlds, and the involvement of other technologies like IoT and AI. Jan also touches upon the topic of energy consumption, acknowledging that it varies depending on the metaverse and activities involved.
