The metaverse is one of the most trending topics at the moment and brands (and influencers) all over the world are looking to get involved.
Nike has filed a handful of trademark applications, declaring its intention to sell virtual branded sneakers and apparel.
Disney CEO Bob Chopek said that the company plans to build its own metaverse by connecting the physical and digital worlds.
Snoop Dogg is building his mansion in The Sandbox metaverse.
Along with the excitement that comes from the potential of the metaverse, there also comes a raft of unknowns. To gain a better understanding of potential, risks and opportunities presented by the metaverse, we will be interviewing web 3.0 leaders to get their insights.
Jack O'Holleran from Skale Labs
SKALE Network is an open source Web3 platform intended to bring speed and configurability to blockchain. SKALE Network is the project by N.O.D.E. Foundation - the Liechtenstein Foundation that aims to advance development of Web3 technologies and make decentralized web more user friendly and accessible for developers, validators, and end users.
1. What one thing are you most excited by when it comes to the potential of the metaverse?
Unlike with previous incarnations of the metaverse, there is an incredible opportunity using blockchain and NFTs to decentralize and enable a host of applications and experiences that are not driven by a few monolithic tech companies. NFTs will be an absolute game changer where digital goods are owned by users, not central ledgers run by gaming companies. A democratized metaverse, where people can not only interact with each other and their avatars virtually, but can do so using a host of platforms and dapps that merge the physical and digital worlds using DAOs creates the ultimate user defined experience. This can happen because the technologies that drive it pull down the walled gardens and free developers to create a new metaverse for the next generation.
2. In your view, what is the main risk of the metaverse?
The largest risk of the metaverse is that it will become so addicting that people will forget to live in the real world :)
3. What is one tip you would share with established organisations looking to leverage the metaverse?
Established organizations will need to learn to leverage NFTs and digital branding in a new way. They need to create NFTs that marry the physical and digital world. They will also need to learn to create a continuous experience with their customers, fans, and community, rather than treating NFTs purely as a revenue function.
4. What does the metaverse landscape look like in 12 months?
The metaverse is just getting started. We'll see the typical consumer adoption cycle which will seem to move slower than we are all expecting just until it moves faster than we could have ever imagined. We'll also see DAOs truly take form where digital communities will be governed by smart contracts and will become our next city, state, and local governments in the metaverse.