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Manila Bulletin devider Lifestyle devider Metaverse: Game on!

Metaverse: Game on!

Published Feb 2, 2022 02:56 pm

The implications of tech’s hottest trend in media

A NEW WORLD The metaverse blurs the line between the physical and virtual realms

Technology is rapidly evolving. The need to address the challenges of the health crisis further hastens technological developments. The internet, in particular, has become an even more indispensable tool for communication, information, and entertainment.

A study from Statista reveals that in 2021 the number of internet users stood at 4.9 billion. Roughly two-thirds of the global population is connected to the world wide web. Data and the internet underpin our current way of life. Business leaders across all industries have recognized this fact, and are now gearing up for the next digital era: the rise of metaverse.

For context, the metaverse is a concept that has existed since 1992, after sci-fi author Neal Stephenson coined the term to describe “3D virtual space.” While its definition is still amorphous, in essence, the metaverse is a persistent three-dimensional realm that makes the internet more immersive.

Metaverse integrates several technologies such as Virtual Reality (VR), Augmented Reality (VR), cryptocurrency, and more, reinventing the way we interact online, bringing us inside cyberspace rather than plainly looking at it from our screens. It is what tech experts consider the next step after the internet.

Toward the end of 2021, Facebook rebranded into Meta and its CEO Mark Zuckerberg announced that the company would focus on metaverse, prompting conversations about the virtual universe. So now, everyone wants in on this brave new world.

Market opportunity in the metaverse is expected to hit $800 billion by 2024 as predicted by data-driven research Bloomberg Intelligence. Meanwhile, game makers’ revenue with regards to the metaverse is expected to reach $412.9 billion the same year.

Ted Schilowitz, Futurist from Paramount Pictures, perceives the metaverse as “a new area of pursuit, the evolution of visual and communication tool set.” What does this spell for consumers and for media in general? The paradigm shift would change the landscape of media yet again. One may even consider what’s to come as the “new, new media.”

Metaverse reinvents the way we interact online, bringing us inside cyberspace rather than plainly looking at it from our screens.

But it won’t kill traditional and new media. Instead, it is likely to enhance them. Podcasts, audio books, films, and the like, would be designed with surround sound, an enriched fidelity and depth through multiple audio channels to mimic how we hear natural sounds. The metaverse would aim to take the best parts of old and modern into one “perfect” medium.

Among the driving forces and one of the main industries to benefit most out of the metaverse is entertainment. In a way, the metaverse is a form of entertainment unto itself, or at least its early iterations are utilized for gaming as well as 3D and 4D experiences. Interactive content is nothing new today. Take for instance Netflix’s “Bandersnatch,” the 2018 Black Mirror sci-fi special, in a “choose-your-own-ending” format. VR movie theaters, 360-degree videos contents, and immersive infotainment are forerunners to entertainment. Full immersion is the name of the game.

CHOOSE YOUR OWN ADVENTURE A scene from Black Mirror’s Bandersnatch, a choose-your-own-adventure tale in which, as in the metaverse, technology allows us to choose from a series of possible outcomes

Imagine attending a Madonna concert with the feeling of actually being in a crowded venue minus the hassle of traveling, lining up, interacting, and squeezing through throngs of sweaty strangers. The metaverse would act as permanent locations where multiple artists can perform, just like in real life.

Another prime candidate of VR would be amusement and theme parks, safely and efficiently executed in the virtual domain. It may seem too good to be true, but that’s the goal.

The metaverse’s added value allows entertainment brands to play around immersive storytelling, world-building, and tapping on consumer’s creativity. These features complement franchise-building process and boosts audience engagement.

Personalities and brands would need to rethink their promotions and market strategies. Storytelling will have interesting innovations.

The disastrous potential of the metaverse is just as deep and expansive. Ever wonder why most imaginings of the metaverse in film and literature are dystopic? While it does show great promise, we must remember that the brightest lights cast the darkest shadows.

But that is a story for another day.

Related Tags

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