As a content creator, you should probably start exploring the opportunities of the metaverse.
Metavert this… Metavert that…
These days it seems like everyone is talking about the metaverse (me included). Today I’m back with a new topic for content creators.
Let’s clarify a few things before we move on. The metaverse is often defined as “a multi-connected virtual universe built on the Internet that could stimulate and enhance real-world experiences”. For a simpler definition, Facebook describes it as “a collection of virtual spaces where you can create and explore with others who are not in the same physical space as you”.
The rapid development of metaverses has brought to light the opportunities that come with it, such as real estate rental, immersive learning programs, and now… content creation. According to industry experts, the Metaverse is the future and could be worth billions of dollars. Content creators should be the first to feel the effects of the metaverse as it has the potential to “dramatically change content creation forever.”
Despite the fact that the term Metaverse has only recently become a buzzword, it was originally coined by Neal Stephenson in his 1992 science fiction novel “Snowfall”, which depicted a next-generation internet powered by virtual reality.
Mark Zuckerberg is one of the main culprits behind the resurgence of the term over the past year when Facebook changed its name to Meta and announced the brand transition. However, Zuckerberg’s version of the Metaverse is not the most widely accepted. Most people are hoping for a decentralized, community-governed metaverse rather than a single entity or brand.
Important Note to Remember:
While companies may be the ones providing the underlying technology and tools to build the Metaverse, at the end of the day it is the individual creators who will make the Metaverse truly come to life.
The creator economy, along with the influencer marketing industry, is worth $104 billion and the impacts of metaverse opportunities could be huge. With the use of AR and VR technologies, creators take their digital marketing efforts to a whole new dimension and interact with their audience in an immersive and interactive environment.
Imagine this. Your favorite musician is hosting a virtual concert on the Metaverse, and you, from all over the world, can join in without worrying about geographic limitations.
Creators can use social tokens to monetize their fame within the metaverse. Newly created opportunities are not just for creators, but also for their subscribers and fans. With the Metaverse, fans could support their idols in many ways.
We have already seen what content creators are doing with Web 2.0. With the rise of the Metaverse and Web 3.0, the opportunities for marketers, creators, and influencers in this virtual world are just as promising.
Blockchain technology and decentralized platforms will allow creators to incentivize their skills without sharing profits with the centralized hosting platforms. We got a glimpse into this with the boom of NFTs that started in 2020 as artists and digital creators participated in the industry, selling digital art, music and even Tweets.
There are a number of challenges that content creators can face in the virtual world.
- It’s entirely possible that the creators’ target audiences don’t have access to the high-end devices needed to fully immerse themselves in the Metaverse experience, such as VR lenses.
- Misconceptions about this technological advancement could hinder mass adoption. Older adults may think of Metaverse as just a kid’s game. Not everyone will take the Metaverse seriously.
- Finally, data privacy and security will require upgrading with the growing use of the metaverse. For example, personal verification could involve more steps and require more data from players, which will also increase privacy risks.
If creators, communities and the Metaverse cooperate with one another, it could bring great value to the platform and those who use it. It can be a win-win-win situation.
The Metaverse is a new avenue for content creators to move their business there in search of increased profitability. As with TikTok at the start of the Covid-19 pandemic, there is untapped potential to be explored in the Metaverse and Web 3.0.
Engaging an audience on Instagram or in art museums is unlikely to become moot. These methods will always be effective, but the Metaverse will certainly be an important part of the creators’ future.