What is the Metaverse?
Simply put, it's the future of the internet: A massively scaled persistent, interactive, and interoperable real-time platform comprised of interconnected virtual worlds and reality, where people can socialise, work, transact, play, and create.
Does the Metaverse exist yet? Not quite. For now, the fully immersive and interoperable version is a vision. However, the seeds are sown and it's just a matter of time.
There are however already different types of Metaverse use cases - so-called the "Multiverse", to explore, and although they are similar in offering, they all slightly differ (think of it like the fizzy drinks category: Coca Cola and Pepsi offer similar drinks, but you can still taste the difference).
The framework of the Metaverse that best describes the value-chain is based on on Jon Radoff's seven tiers model (see the illustration above). This includes opportunities, technological innovations and solutions to our current problems.
Infrastructure is the base layer, meaning that without adequate framework none of the other developments are possible. On top are the experiences. As Steve Jobs said: "You've got to start with the customer experience and work backwards to the technology - not the other way around". Currently games are the most advanced in the metaversal experiences.
Games: The gateway to the Metaverse
Already, nearly a hundred million people a day log onto Roblox, Minecraft, and Fortnite - platforms that operate tens of millions of interconnected worlds, which support a consistent virtual identity, virtual goods, communications suites, and can be accessed from most devices.
Nike: Magic is in the air
Originally, these games were pure games. In the last years, they have extended to social platforms, where people can connect: socialise, work and play. Concerts with Adriane Grande have attracted 12.5 millions of visitors, Nike has build a NIKELAND in the game, interacting with its store experience attracted 7 million users in a few months. Even primary and secondary education (also known as K-12 education) has been built in Roblox during the pandemic.
Nike advanced further in engaging their audience with the famous basketball player LeBron James to coach and socialise with the users of the game. A big part of their activities is related to building a community.
Another milestone for Nike. Last year, Nike officially acquired RTFKT Studios, a Web3 fashion house specialising in digital apparel. Shortly thereafter the company released RTFKT x Nike Dunks Genesis CryptoKicks, a pair of physical sneakers with their own NFT counterparts.
Two weeks ago expanded its lineup of NFT clothing with the RTFKT x Nike AR Genesis Hoodie, an exclusive digital hoodie for RTFKT's Clone X NFT avatars. In addition to the virtual item, each owner will also receive a physical hoodie equipped with a near-field communication chip (NFC) that allows for wireless communication between the clothing and its respective NFT.
Using a combination of trackers and QR codes, owners can bring their physical hoodies to life in AR with effects such as virtual wings. Moving forward, the company will introduce additional utilities to its catalog of digital clothing, such as tokens to access exclusive in-person events. Red Bull could give you wings in your imagination - now Nike can give you wings in reality.
The physical-digital transition goes even further. The Nike sneakers arrive a few weeks later and contain an embedded NFC chip the buyer can scan with their phone. It gives them another NFT that proves the authenticity of the shoes but could also offer other benefits, like exclusive admission to in-person events. The next time that brand releases a limited-edition physical item, it whitelists holders of that NFT, and the cycle continues.
A brand only needs to produce as many items as there are purchased NFTs
Other brands like Tiffany & Co. or Prada are among those using digital tokens to offer exclusive access to tangible goods and to create a community. Fashion brands have hit on use for NFTs that go beyond quirky experiments or digital art. They're using them as a gateway to old-fashioned physical products.
Because NFTs offer an easy way to offer holders exclusive benefits, it's not hard to imagine how brands could use the capability for capsule collections, early access to new releases, or custom styles. The scheme has a few advantages, such as building loyalty among a group of engaged fans, and because the brand only needs to produce as many items as there are purchased NFTs, there's less inventory risk involved and it's more sustainable.
Last week, Tiffany & Co. announced the launch of a custom jewelry program exclusively for owners of CryptoPunk NFTs that centers on what the company is calling NFTiffs.
To get a pendant, CryptoPunk holders first need to buy an NFTiff, which will cost them 30 ETH, or about 50,000 dollars at current conversion rates. It can then be redeemed during a set window for a pendant custom-designed by Tiffany, as well as an NFT resembling the physical item. Only for 250 people. Sold out.
The physical-digital transition goes even further
Because NFTs offer an easy way to offer holders exclusive benefits, it's not hard to imagine how brands could use the capability for capsule collections, early access to new releases, or custom styles. The scheme has a few advantages, such as building loyalty among a group of dedicated fans, and because the brand only needs to produce as many items as there are purchased NFTs, there's less inventory risk involved, being more sustainable.
The physical-digital transition goes even further. The Nike sneakers arrive a few weeks later and contain an embedded NFC chip the buyer can scan with their phone. It gives them another NFT that proves the authenticity of the shoes but could also offer other benefits, like exclusive admission to in-person events. The next time that brand releases a limited-edition physical item, it whitelists holders of that NFT, and the cycle continues.
Picture with kisses: this is how NFTs and a community can do good!
October 10th is the international mental health day...
...and we invite you to support the dxpression NFT project joining in shedding light on the importance to advocate, speak up, take care, treating and supporting people with any neurodiversity and/or mental health issues. Disorders that affect approximately 10% of the entire world population, according to the World Health Organization (WHO), and are growing fast in our society.
From May 10th to October 10th, by buying and sending our non-generated NFT Kisses (0.0018 ETH which are approx. 5 dollars + gas fee if you don't buy with polygon) to your friends and loved ones you will get your kiss NFT, spread love everywhere in the internet and also will be pre-seeded funding dxpression NFT project, to build the start up that will support artists and bring mental health from metaverse to real life.
The kiss NFT is the building block of the dxpression metaverse ecosystem and having it, you will have our forever gratitude, and as the business grows you will be considered a VIP for us to: online and presential events, vernissages, classes (arts, health), shows, concerts, congresses, artists drops, and lots of art related activities and gifts.
Starting with kISSES emojis for WhatsApp and telegram, KISSES.gif for Twitter and KISSES.png for posts on Instagram, LinkedIn, and Facebook. You can buy and send kisses to everyone via Opensea.
Ready to take the Magic Leap with wearables?
Goggles are heavy and only an interim step. A recent introduction from start-up Magic Leap shows promise. With a focus on changing how users consume digital information by leveraging machine learning, computer vision, sensors and human-centered AI. Unlike augmented (AR) or virtual reality (VR), Magic Leap's head-mounted digital lightfield display applies advancements in spatial computing that work with the human eye-brain system to integrate digital content in the physical world.
"It combines artificial intelligence and computer vision to seamlessly blend digital content into your reality," says Cathy Hackl, a globally recognized metaverse expert and former employee of Magic Leap. "It's a lightweight wearable computer that uses eye tracking and head pose to see what the user sees with the power to learn."
Google will test augmented reality glasses prototypes in public settings the glasses will be equipped with microphones and cameras as well as transparent displays, Google said. The announcement shows the company trying to get ahead of kinds of privacy issues that helped sink Google Glass almost a decade ago.
Google is fiercely competing with other tech giants including Apple, Meta and Microsoft to build the first next-generation augmented reality glasses. All four companies have invested billions in augmented reality software and hardware, hoping for a breakthrough that could enable a new computing platform, but current products have yet to catch on.
"The magic will really come alive when you can use them in the real world without the technology getting in the way," Google CEO Sundar Pichai said at the announcement.
Contact lenses that "replace smartphones" with eyeballs worn by humans for first time
The first human trials of an augmented reality contact lens have been successful, paving the way for the end of smartphones - and a world where the internet is built into our eyeballs. Tech company Mojo Vision claims it has successfully tested a prototype augmented reality contact lens on a human in a world first. Instead of having to use a smartphone or a bulky headset, the contact lens allows the wearer to see digital information and apps placed over the real world and at a much higher resolution than a top-end iPhone.
Scary thought: We could be one step closer to a "Black Mirror"-style dystopia - where people record their lives through their eye implants. It's episode 2 in season 1 and the episode is called "The Entire History of You". You can watch it on Netflix.
How can you pay in the Metaverse?
The front runner for payment in the Metaverse is Mastercard with nearly 3 billion users. The company has opened up its network for more NFTs, according to a press release published on June 9. The financial services company inked deals with several prominent NFT marketplaces, such as The Sandbox, to make it possible to buy digital collectibles with its cards.
This is not the company's first foray into the NFT scene. In January, Mastercard scored a partnership with Coinbase to enable purchases on the leading cryptocurrency exchange's NFT marketplace. Binance and Mastercard are partnering on the Binance Card in Argentina. The card provides conversion from cryptocurrencies to fiat at the time of purchase, and up to 8% cash back in crypto for eligible purchases.
Meta is working on a digital wallet - the key to your life: CEO Mark Zuckerberg announced that the company is working on a digital wallet that will make it easier to spend and make money in the Metaverse.
Zuckerberg talked about a future where all of the purchases you make in the virtual world, from clothing and music to event tickets and art, are stored in a single, easy-to-access location. In addition to managing your funds, this digital wallet would also be used to manage your identity in the Metaverse.
With the digital wallet, Meta would have kept all your data in the digital wallet - including your identity - whilst this might sound very convenient, it also imposes a big risk, even if you own the data.
About the author: Dr. Martha Boeckenfeld is Dean and Partner of the Metaverse Academy. She's a very distinguished expert, thought leader, advisor & speaker in topics like Metaverse, Web3, DeFi, Digital Platforms & Ecosystems and Blockchain.
Are you interested in exploring the Metaverse? Join the courses of the Metaverse Academy: We have "Metaverse Ready" for beginners, "Metaverse Strategist" as a deep dive and other courses for different disciplines like Dialog Marketing, Web3 or NFT.
Dr. Martha Boeckenfeld also gives you regular updates about the Metaverse in Spatial, on Linkedin or as speaker in different events. You can see the upcoming events here.
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