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1/ Earlier this year, a peculiar thing started to happen: execs began holding business meetings in Animal Crossing.
Virtual worlds are bleeding into every part of life. Here’s a thread on how it’s happening
Virtual worlds are bleeding into every part of life. Here’s a thread on how it’s happening
2/ Business meetings aren’t limited to Animal Crossing. One exec met with a client in Grand Theft Auto, where they robbed a bank together. (“It’s my version of golf,” he said.) Another team met up in Red Dead Redemption
3/ Stuck at home during the pandemic, people began to express themselves through digital worlds.
Some even put up Biden / Harris yard signs in Animal Crossing
Some even put up Biden / Harris yard signs in Animal Crossing
4/ Today, virtual worlds mostly take the form of multiplayer online games:
Fortnite, for example, has been collectively played for 10.4 million years—about 52x the time that humans have occupied the Earth
Fortnite, for example, has been collectively played for 10.4 million years—about 52x the time that humans have occupied the Earth
5/ In April, 46 million people “attended” Travis Scott’s Fortnite concert and millions more watched online.
Hosting a concert in a virtual world gave Scott unlimited creative freedom. He arrived on a purple comet, grew to the size of a skyscraper, and went underwater.
Hosting a concert in a virtual world gave Scott unlimited creative freedom. He arrived on a purple comet, grew to the size of a skyscraper, and went underwater.
6/ Startups like Maestro, @Moment_House, and @TheWaveXR are powering virtual concerts. Maestro, for instance, is the white-label platform behind Billie Eilish’s blockbuster online concert
7/ Virtual worlds are also becoming popular for socializing. A generation ago, online dating was stigmatized; today, it’s fully mainstream.
Socializing in virtual worlds will follow a similar arc.
Socializing in virtual worlds will follow a similar arc.
8/ Chudo, for instance, lets users socialize with digital avatars
9/ Education is even coming to virtual worlds. In Second Life, one retired nurse led students on critical care rounds on virtual patients within a virtual hospital.
10/ Companies like @STRIVRlabs (enterprise training) and @inspiritVR (STEM training) are building VR/AR education tools
11/ The pandemic is also causing startups to build virtual offices, as workers look for new ways to connect and collaborate
Features of virtual offices range from the basic (meeting rooms) to the specific ( @gather_town has virtual pool tables for employees to play together)
Features of virtual offices range from the basic (meeting rooms) to the specific ( @gather_town has virtual pool tables for employees to play together)
12/ In @spatialxr, for instance, colleagues can chat and meet in VR
13/ Virtual worlds won’t monetize through ads, but through commerce—microtransactions in virtual economies
MMOs already make about 85% of their revenue this way. Fortnite, for example, offered Travis Scott skins to align with Scott’s “Astronomical” performance
MMOs already make about 85% of their revenue this way. Fortnite, for example, offered Travis Scott skins to align with Scott’s “Astronomical” performance
14/ A common insult on Fortnite is to call someone “Default”, which means that the person is using free skins (free outfits and weapons)
The cool players, meanwhile, pay for exclusive, sought-after skins—buying skins is a way of buying status in the game world
The cool players, meanwhile, pay for exclusive, sought-after skins—buying skins is a way of buying status in the game world
15/ Eventually, blockchain technology will make it easier to trace ownership of digital assets, especially rare or coveted assets.
For instance, an avatar of Donald Trump in the game Cryptocelebrities sold for $137,000, tracked by blockchain’s distributed ledger
For instance, an avatar of Donald Trump in the game Cryptocelebrities sold for $137,000, tracked by blockchain’s distributed ledger
16/ Eventually, there will be full-fledged virtual economies, for everything from clothes to cars to real estate
Anyone can be an entrepreneur, democratizing access to innovation and opportunity
The virtual hair salon or digital clothing retailer will be the new small business
Anyone can be an entrepreneur, democratizing access to innovation and opportunity
The virtual hair salon or digital clothing retailer will be the new small business
17/ Virtual worlds will also bleed into our real world.
It’s already possible to place a phone call through a digital cell phone in Minecraft, and call someone on their real world phone
It’s already possible to place a phone call through a digital cell phone in Minecraft, and call someone on their real world phone
18/ People will enter virtual worlds for every part of life. You’ll attend a virtual concert in @TheWaveXR. Your kids will learn through @inspiritVR. You’ll work in @spatialxr
19/ There are opportunities for entrepreneurs here. There will be platforms to create the worlds themselves. There will be secondhand marketplaces for commerce & ownership. There will be underlying techs that lower latency and stitch together complicated worlds in real time
20/ We’re still years away from the full-on metaverse, but companies are beginning to lay the bricks toward an immersive, virtual future.
Full piece & sources here.
For more on these topics, highly recommend @ballmatthew’s metaverse piece, @mariodgabriele’s Unity breakdown, & @ethankurz’s podcast with Business Casual. All excellent & all experts on these topics
https://digitalnative.substack.com/p/the-startups-building-virtual-worlds
For more on these topics, highly recommend @ballmatthew’s metaverse piece, @mariodgabriele’s Unity breakdown, & @ethankurz’s podcast with Business Casual. All excellent & all experts on these topics
https://digitalnative.substack.com/p/the-startups-building-virtual-worlds
