How Will Businesses Use Web3 in the Metaverse
Business has not been “as usual” for the past few years now. The pandemic drastically changed the way many of us participate in our workplaces and has effectively reshaped the entire U.S. job market. The fact is, the vast majority of employees who can do their jobs from home are doing so. And in lew of face-to-face meetings, virtual offices are quickly gaining popularity.
But we’re not just talking about video calls and Zoom happy hours. Metaverse jobs are here – from software engineering roles to making sandwiches at a metaverse Subway. Even established, non-digitally native businesses are looking to become involved in the Web3 ecosystem and onboard their employees along the way.
The metaverse isn’t just a game anymore. Here’s why.
What Is Web3.0
Web 3.0 (also known as web3) is the third iteration of the Internet that interconnects data in a decentralized way to deliver a faster and more personalized user experience. It is built using artificial intelligence, machine learning and the semantic web, and uses the blockchain security system to keep your information safe and secure.
Decentralization, openness and incredible user utility are the defining characteristics of web 3.0.
The idea behind using the semantic web is that it understands and interprets the context and concept of the data. Therefore, when a user searches for an answer, web 3.0 delivers the most accurate and relevant result to the end-user.
Tech giants such as Google, Facebook and Microsoft are some of the few companies currently making an enormous profit from user data. But web 3.0 will enable all of us to be compensated for our time and data: “people have been exploited by tech firms — essentially, deceived into giving valuable data away with little or no compensation from the firms who collect and benefit from it. Instead, [with web3] people should be paid for the data they share.”
This means that users will be able to sell their own data to advertisers while still retaining ownership and data privacy. In addition, web3 will enable websites and applications to use data more meaningfully and tailor the information to each user.
Hence, this third generation of the web is an Internet where you will enjoy personalized interactions with machines and websites in the same manner as when you communicate with any other human.
The metaverse is more than NFTs and VR games
Right now, it seems like everyone is talking about the metaverse. The term skyrocketed in popularity last fall when Facebook changed its name to Meta. Since then, many have taken an interest in what the “metaverse” actually entails. Some are even finding it within their interests to secure a bit of virtual real estate.
The concept of the metaverse has been around for decades, but its recent resurgence is no random event. Just as blockchain tech (especially NFTs) has taken off over the past year, so too has the contemporary idea of living a fully digitized life.
Currently, the most established use-cases of metaverse technology are centered around either NFTs or gaming. Platforms like Decentraland, Cryptovoxels, and The Sandbox continue to incentivize users to build virtual dwellings, display and trade NFTs, and just generally engage in their gamified ecosystems.
Google’s Tilt Brush is a perfect example of how metaverse tech has helped expand the NFT ecosystem. Created to be a virtual version of a fully equipped painter’s studio, Tilt has become the livelihood of artists like Anna Zhilyaeva and Aimi Sekiguchi — who use the software to create immersive NFTs that often fetch a hefty sum.
We’ve even seen a multitude of NFT art galleries built in the metaverse, with Sotheby’s possibly taking the cake for the virtual version of their London headquarters. And institutions arent the only ones being incentivized to create galleries, as companies like OnCyber are making it easy for collectors of all levels to showcase their NFTs in the metaverse.
Difference Between Web 1.0, Web 2.0 and Web 3.0
Before we dive further into web 3.0, we need to understand how we got here – via web 1.0 and web 2.0.
Here’s the brief history of the Internet:
Web 1.0 is a read-only web where people can read information written on websites.
Web 2.0 is a read-write web where people can read and write content on websites and applications.
Web 3.0 is a read-write-interact web (powered by artificial intelligence) where people can read, write and interact with content, including 3D graphics, on websites and apps.
Sotheby’s Decentraland Gallery. Credit: Decentraland
But what is the real utility of blockchain-based gaming? Is that all there is to the metaverse? Of course not. While these games are fun (no seriously, go mess around on Decentraland, it’s great), the real incentive of entering the metaverse is that it opens up a new avenue for interpersonal connections.
With open-world metaverse games, we’re able to meet a wide variety of people from the comfort of our homes. And these interactions have evolved far past the days of chat rooms and Omegle. With platforms like VR Chat and Meta’s Horizon Worlds, users can come face-to-face with people from all over the world.
Thanks to the early adopters of these virtual technologies, and the developers that have iterated on them, non-digitally native businesses can easily get involved in the metaverse.
It shouldn’t be surprising that there’s a market for enterprise-level solutions for organizational culture. I mean, we’ve all been begrudgingly hosting our meetings via Zoom or Google Meet since 2020. The need to improve upon these tools, and use technology to make remote work less isolating is evident.
Companies like Microsoft, Meta, and more are aiming to lead the pack when it comes to these solutions. Especially when it comes totaking aspects of the metaverse – open-world games, custom avatar creation, and VR capability – and adapting them for business
In the coming years, platforms like Meta’s Horizon Workrooms and Microsoft Mesh could make switching to a fully-remote work model more appealing to both employers and employees. Other companies aren’t far behind in their efforts to provide an alternative to the many developing Fortune 500 tech company-led solutions.
Rove, for one, is possibly one of the best business-focused metaverse platforms currently available. Aimed at expanding what’s possible in the metaverse, this new free-to-access metaverse project is providing use-cases that place importance on that aforementioned interpersonal connection.
With Rove, the metaverse can feel like a happy medium between fun and utilitarian. For artists wanting to create a 3D website/storefront for their products, users hoping to customize a virtual hangout space, and of course businesses looking for a more casual Web3 way to hold meetings, Rove has solutions.
What is Metaverse?
To help you get a sense of how vague and complex a term “the metaverse” can be, here’s an exercise to try: Mentally replace the phrase “the metaverse” in a sentence with “cyberspace.” Ninety percent of the time, the meaning won’t substantially change. That’s because the term doesn’t really refer to any one specific type of technology, but rather a broad shift in how we interact with technology. And it’s entirely possible that the term itself will eventually become just as antiquated, even as the specific technology it once described becomes commonplace.
Broadly speaking, the technologies that make up the metaverse can include virtual reality—characterized by persistent virtual worlds that continue to exist even when you’re not playing—as well as augmented reality that combines aspects of the digital and physical worlds. However, it doesn’t require that those spaces be exclusively accessed via VR or AR. A virtual world, like aspects of Fortnite that can be accessed through PCs, game consoles, and even phones, could be metaversal.
It also translates to a digital economy, where users can create, buy, and sell goods. And, in the more idealistic visions of the metaverse, it’s interoperable, allowing you to take virtual items like clothes or cars from one platform to another. In the real world, you can buy a shirt from the mall and then wear it to a movie theater. Right now, most platforms have virtual identities, avatars, and inventories that are tied to just one platform, but a metaverse might allow you to create a persona that you can take everywhere as easily as you can copy your profile picture from one social network to another.
It’s difficult to parse what all this means because when you hear descriptions like those above, an understandable response is, “Wait, doesn’t that exist already?” World of Warcraft, for example, is a persistent virtual world where players can buy and sell goods. Fortnite has virtual experiences like concerts and an exhibit where Rick Sanchez can learn about MLK Jr. You can strap on an Oculus headset and be in your own personal virtual home. Is that really what “the metaverse” means? Just some new kinds of video games?
The range of spaces users can create in Rove. Credit: Rove
Imagine, instead of staring at name cards and frozen screens in a 10+ person video meeting, your entire team can don their own custom avatars, show up to a lounge area and flip on a virtual projector for a presentation. In Rove, all of this is possible. Users can even dress the office walls with the latest NFTs they’ve picked up – no coding skills necessary.
This line between the corporate and casual metaverse may very well be the gateway for businesses to become interested in fostering a Web3 organizational culture. And it seems even the newer players entering into the metaverse race understand this: that the interactive and accessible components of the metaverse are likely its biggest selling points.
Functionality that inspires creativity and vice versa. This seems to be the goal of many metaverse companies, possibly best exemplified by vSpace — an extended reality platform that features 3D video conferencing with a sort of plug-and-play nature. With Twitch, Vimeo, and YouTube integration all in one, the business tool focused on interpersonal connection almost feels like a game.
The metaverse is anything but static
With each passing month, facets of everyday life are being integrated into the metaverse. Use-cases are growing rapidly, and just as quickly as gaming led to businesses getting involved, so too will Microsoft, Meta, Rove and the like help open the doors to the next big iteration.
The metaverse should be for everyone. Sure, it can be confusing, but the metaverse is here and it doesn’t just have to be an individualized experience anymore.
It’s unlikely that we’ll see companies begin to incentivize their entire workforces to show up virtually for a full 40-hour workweek anytime soon (well…unless you’re ZOAN). But now, onboarding your team into the metaverse can be as easy as scheduling a meeting.
Sourece: https://www.coinparative.com/insights/explainer/how-will-businesses-use-web3-in-the-metaverse/