Why is the Metaverse happening now?

💥 After all the posts I published around Blockchain and NFTs, many people have asked me the same question. Why do you link NFTs with the metaverse?

As this is a recurring question, I thought I would write this post to explain where I am coming from.

💥 Since the web has been launched we are on a technological/innovation path that will not stop.

Many technologies that were launched a while back (i.e. Virtual Reality headsets were first released in the early 1990s) are coming to maturity. This includes Artificial Intelligence and data management.

The convergence of all these technologies (Virtual Reality, Augmented Reality, Mixed Reality, Blockchain, NFTs, Artificial Intelligence, Big Data, robotics…) allow the creation of this new universe.

💥 I refer frequently to the launch of second life on June 23, 2003. The San Francisco based company Linden Lab had the vision and created a universe that was too early for its adoption. The technology involved was in its infancy and people’s perception and behavior were not prepared for such a different experience. However, second life concept helped prepare for the launch of Metaverse years later.

👉 Many people refer to the Metaverse as the web 3.0. As someone who did not like the expression web 2.0, I feel the same about web 3.0. However the vision and concepts are the same. We are definitely talking about a major shift in the use of the web. With this new approach to the web, the key focus is the customer experience. We have maturing technologies as mentioned above such as VR, AR, ER, IoT – Internet of Things, wearables and others that are now used for a different and more engaged user experience. All data is owned by the users and internet services are decentralized. Tokens such as NFTs and cryptocurrencies become the norm to reward users. We are moving away from a community management web towards a more individual user empowerment. Finally, technologies involved have also changed as AI, Blockchain technologies (including NFTs) and robotics are the pillars of this new way of using the web.

💥 Moreover, as we are entering a new world where engagement and loyalty are becoming the key to success, gamification will have a big part to play in this activity (the use of game mechanics for non-gaming activities).

💥 The convergence of all these technologies and changes of behavior allow for the metaverse to be deployed. This “new” universe ensures users are more engaged. Thanks to NFTs and crypto currencies (where there will be a connection between physical works such as art, collectibles, digital media, luxury, virtual real-estate and the Tokens), we will see a new economically viable environment. Indeed, many brands are getting involved and are starting to invest very large amount of money into the metaverse. In the meantime many companies have started to offer quick to market solutions to get more people involved.

💥 We are just at the beginning of this incredible development. I feel very fortunate to experience all these technologies coming to fruition now. This is a very exciting time!