“the futuristic ideal is a multi-dimensional, single unified, persistent world called the ‘metaverse’ where all companies and groups cooperate in a shared experience that can be accessed anywhere, anytime by anyone”
- Steve Irvine
Our resident creative Steve Irvine talks about his experience with emerging technologies and the future of the evolving Metaverse and its impact on society and business. No one really has the ability to call themselves an expert as it doesn’t quite fully exist yet, but a wealth of experience can provide at the very least some authority.
A brief history of Steve..
Majoring in industrial design, Steve set up his first business, working with companies such as Nokia, Disney, Lego, and Hasbro designing future tech concepts and toys. Steve’s deep knowledge of 3D design, CAD modeling, production rendering, and animation along with a long history with digital art and illustration has led him to his current position as owner of digital agency Lionsorbet, working with many of the worlds leading jewellery & luxury brands. Steve is an established NFT artist having sold over 150 original art pieces to collectors around the world.
A virtual world built on Social connection
In its simplest form, the metaverse is an immersive three-dimensional internet experience connecting people together in a shared virtual simulation. It is the next generation of the internet built entirely in 3D allowing you to interact with friends, colleagues, and professionals without the barriers that current 2D screens impose. The metaverse is pushing the boundaries of digital connection, using virtual reality and augmented reality technology to make it a seamless and effortless part of our lives.
Think of the metaverse as a computer-generated, virtual world or universe that can be accessed through the internet. It's like a giant, shared playground where people can interact with each other, play games, attend events, do business, shop, and learn about new things.
I visualise it as an advanced version of social media where you can create a digital version of yourself, known as an avatar, and explore a three-dimensional, immersive space with other people. In this space, you can chat with friends, attend virtual concerts or classes, and buy and sell digital goods.
While it's still a work in progress, the metaverse has the potential to transform the way we use the internet and connect with each other. It could provide a more engaging and lifelike experience that's more enjoyable than just scrolling through social media feeds or browsing websites.
I guess the futuristic ideal is a multi-dimensional, single unified, persistent world called the ‘metaverse’ where all companies and groups cooperate in a shared experience that can be accessed anywhere, anytime by anyone through a ‘ready-player-one’ style VR setup. We are still very far away from this being a reality but as data bandwidth increases and technology becomes standardised across the board we could start to see companies or countries even pool resources together to bring about first generations of this experience.
The Metaverse in a nutshell
The metaverse is a virtual world that has some unique features that make it different from other digital environments. Here are some of those features:
Virtual environments
The metaverse is a place where users can interact with each other and with digital objects in a fully immersive and interconnected environment. It's kind of like a giant digital playground! There are literally no boundaries for time and space. An endless plot of real estate, buildings, places, and worlds.
Digital identity / Avatars
When you're in the metaverse, you have a digital identity that's separate from your physical identity. This can give you more freedom to express yourself and interact with others. These avatars transcend the boundaries of sex, gender, and physical traits as well as physical restrictions and disabilities. You can become who you want to be.
Shared experiences
One of the more interesting things about the metaverse is that users can share experiences with others. This can create a sense of community and collaboration that you don't often see in other digital environments.
Persistent existence
Unlike other digital environments, the metaverse exists all the time, even when you're not using it. This means that things can happen in the metaverse even when you're not there to see them!
Interoperability
The metaverse is designed to be compatible with different virtual environments and platforms. This means that users can move easily between different parts of the metaverse without any trouble and your avatars, digital currency, and items you have purchased are accessible across all platforms.
User-generated
The metaverse is a place where users can create and share their own content. This means that there's a lot of creativity and personalization in the metaverse, and no two experiences are exactly the same. With blockchain technology paving the way for more de-centralised ownership, content is user-driven and not owned by a central authority.
Immersive and Spatial Tech
The use of hand-eye and body-tracking including haptic feedback systems, combined with 3D, VR, and AR will create a fully immersive, life-like experience. Just like the internet and video calling was once confusing and difficult to use, the technology will become seamless, effortless, and fully integrated into our lives.
Economic systems & Ownership
The metaverse has its own economy, with virtual currencies and the ability to exchange, buy and trade virtual goods and services. It's kind of like a digital marketplace!
As the metaverse continues to evolve, we can expect to see even more cool features and innovations that will make it an even more exciting place to explore and interact with others.
The future of work and business
The metaverse creates a limitless landscape to visualise any lifestyle scenario.
The metaverse could bring about some really exciting changes to the world of work and business. It has the potential to transform the way we work and do business, offering new opportunities, cost savings, and engaging experiences. There are a number of exciting opportunities and benefits that the metaverse can bring to B2C and B2B businesses.
Better Teamwork
The metaverse could help teams work together and collaborate more easily, no matter where they're based. Imagine being able to join virtual workspaces that feel like physical offices, with all the benefits of being in the same room, even if you're on the other side of the world. You could have more productive meetings, work together on projects, and build stronger relationships with your colleagues. Think of it like an interactive, slightly more uncomfortable, immersive version of zoom where your physical avatar is present and people can interact with you more directly.
New Opportunities
The metaverse could open up new opportunities for businesses to sell digital products and services to a global audience. For instance, people could buy virtual clothing or attend virtual events like product launches or concerts. You could open a virtual retail environment where customers can come in and browse products, talk with staff, discuss options, and order physical items. This could be a great way for businesses to reach more people and create new revenue streams.
Cost Savings
By using the metaverse, businesses could save a lot of money on things like rent, travel, and physical infrastructure. They could create virtual offices, retail stores, galleries, and meeting spaces, which would be a lot cheaper than renting physical locations. They could also reduce travel costs by attending virtual meetings and events instead of flying around the world. Brands could create virtual pop-up events, new collection launches, private talks and discussions, open training events, and talks to a worldwide audience without having to leave their home or office. Not accounting for computing power, it could be a true, environmentally friendly, and socially responsible way of reaching a wider audience and expanding your business.
A Bigger Talent Pool
With the metaverse, businesses could find talented people from all over the world, not just in their local area. This could be really helpful for companies that have a hard time finding skilled workers nearby. You could work with people from all over the world, with different backgrounds and experiences, which could lead to some really innovative ideas.
Engaging Experiences
Finally, the metaverse could provide more engaging and immersive experiences for customers. Imagine being able to shop in a virtual store where you can see and touch products as if they were real. Or attending a virtual event that feels like you're really there, with all the excitement and energy of a physical event.
Starting with why
Can the metaverse create true virtual shopping and retail experiences?
The metaverse is an exciting new technology that has the potential to offer many benefits and opportunities for people and commerce. It has the potential to bring us closer together, offer us new ways to learn and grow and provide us with exciting new opportunities for entertainment and business. As technology continues to evolve, we can look forward to even more ways that the metaverse can enhance our lives.
If you wish to start looking at the future of the metaverse for your business then start with a strong why. What is the problem you wish to solve and how can the metaverse help? Here are some areas that might help you understand your why:
Geographical limitations
The Metaverse’s virtual environment promises a world where people can interact with each other in real time, no matter where they are physically located. This limitless space could offer new opportunities for people who live in remote areas or who may not have access to certain resources. For example, if you're interested in attending a class that's only offered in a different city or country, you could attend it in the Metaverse from the comfort of your own home or workplace.
The Metaverse has the potential to break down geographical barriers and create a more connected and inclusive virtual world. It's an exciting concept that could offer a new way for people to socialise, work, and learn together.
Physical limitations
The Metaverse has the potential to overcome physical limitations by offering experiences and opportunities that might not be possible for individuals with disabilities that prevent them from travelling or leaving their homes. It could provide virtual travel experiences, exploration of impossible environments, (anyone thinking of Total Recall and Mars?), and opportunities for people with disabilities to engage in experiences they might otherwise miss.
The Metaverse allows people to interact with others in real time which can open up a new world of experiences and opportunities that could overcome physical limitations.
Expensive, Prohibitive, or Dangerous
The Metaverse can solve the problem of expensive, prohibitive, or dangerous activities by providing a virtual world where people can safely and affordably participate in experiences that might otherwise be out of reach.
Imagine being able to attend a concert or sporting event that you might not be able to afford in real life, or traveling to exotic locations from the comfort of your own home. The Metaverse could also offer access to educational opportunities or job training that might be too expensive or difficult to access in the physical world.
The Metaverse could even provide opportunities to engage in activities that might be too dangerous to do in real life. By creating avatars to represent themselves, people could experience the thrill of extreme sports or hazardous jobs without putting themselves in harm's way.
Overall, the Metaverse has the potential to open up a world of new experiences and opportunities that might be too expensive, prohibitive, or dangerous in real life.
Entertainment and New Experiences
The metaverse is a hypothetical version of the internet that integrates virtual and augmented reality technologies to provide users with a more immersive, engaging, and customisable experience. This means that users could enter a fully immersive virtual environment that allows them to interact with other users and virtual objects as if they were physically present.
The metaverse is expected to introduce entirely new forms of entertainment that are not possible in the physical world. For example, users could participate in immersive role-playing games or explore virtual worlds that are entirely different from the real world, travel to destinations deemed impossible or dangerous, and talk directly with company owners, celebrities, and VIPs as if they were in the same room.
Overall, the metaverse has the potential to provide users with a better and more engaging experience by allowing them to interact with a persistent, shared virtual space that is more immersive, social, customisable, and entertaining than anything currently available on the internet.
Preparing the way
Preparing for the future of the metaverse to bring people closer together.
The metaverse is a virtual world that is quickly becoming more popular. It's a place where people can interact with each other and digital objects in a fully immersive and interconnected environment. Companies that want to prepare for the future of the metaverse should consider a few things.
Prepare for the Blockchain
The likelihood is the metaverse will utilise blockchain and crypto technology to run its infrastructure, smart contracts, and security and gain access to personalised information such as avatars, purchase history, and user preferences.
Consider investing in a little Crypto using exchanges such as Coinbase or Binance. Only invest what you are prepared to lose but have fun doing it.
Create a Crypto wallet with Metamask. Which allows you access to blockchain apps and platforms.
Obtain your vanity ENS domain name from https://app.ens.domains/ such as mycompany.eth This short url can be used to send and receive transactions on your crypto wallet without having to use the long hash code normally provided. For instance, I can receive direct payments to my company crypto wallet at lionsorbet.eth
Consider registering .crypto / .nft domain names through https://unstoppabledomains.com/
Keep up to date
It's important for you to keep up-to-date with what's happening in the metaverse. You can research new technologies, platforms, and applications that are emerging, as well as how people are using virtual reality and augmented reality to interact with each other and digital content.
Experiment with Technologies
Try and experiment with metaverse technologies to see how they can be used to improve your products, services, and customer experiences. This might involve creating virtual showrooms, product demos, training simulations, or exploring new business models that take advantage of the metaverse. There is also a huge shift towards expressive AI-powered apps and software to help companies and individuals answer common questions or complete repetitive tasks.
Set achievable goals
Develop a strategy for how you will use the metaverse to achieve your business goals. This might involve partnering with other companies to create shared virtual environments, building your own metaverse platforms, or integrating existing metaverse technologies into your existing products and services.
Invest in Talent
Consider investing in talent and infrastructure to support your metaverse efforts. This could mean hiring experts with experience in metaverse technologies and investing in the hardware and software needed to create and support metaverse experiences.
Your social and ethical impact
If you decide to operate in the metaverse you may want to consider the ethical and social implications of your actions. This might involve developing guidelines for user behavior, addressing issues of privacy and security, and ensuring that virtual environments are inclusive and accessible to all users.
By keeping these things in mind, you can prepare for the future of the metaverse and position yourself for success in this exciting and rapidly evolving area of technology.
What is the Metaverse Presentation
I presented this topic at The Company of Master Jewellers’ spring trade event. View the complete presentation below.
Future Predictions of the Metaverse
The future of the Metaverse and the technology governing its development still requires a lot of advancements in processing power, data transfer, and battery power for mobile display. This will come in time and what we deem to be difficult or impossible right now in 2023 will become seamless and effortless integration into our lives. Here are a few personal predictions for this technology in the near future.
AI-Generated Ring, Bracelet and watch concepts
Predictive Image Creation
We already have the ability to generate highly detailed images, concept designs, and marketing campaigns with the use of AI platforms. Could you imagine walking into a store and as you discuss your design it appears in front of you instantly as you highlight details? This could be on a screen or as a hologram in front of you. As you ask for changes such as more details, different colours, or adjusted dimensions the product will instantly change to display your exact requirements right in front of you. This will be instant and seamless and make product design and retail faster and cheaper to produce.
Product Personalisation
Personalisation will become the norm for all product purchases. Want it engraved, in a different colour, or a different size? Want a unique combination that no one has? then this will be possible with a simple request and an instant audio and visual response. This will change the future of fashion, jewellery and wearables.
Limitless Designs / Stockless inventory
The ability to generate an unlimited amount of design styles, colours, and sizes means that the user can make suggestions and personalisation based on many factors. The physical product can then be ordered and manufactured without the need for retailers to have any stock inventory.
Machine Learning Virtual Assistants
There is currently a range of website chatbots that are using pre-determined responses to questions along with machine learning to provide more accurate answers to common questions. The future of VR/AR and Metaverse technology will enable retailers to have a real-time virtual assistant in a full holographic display that will talk to you like a human on a video call. It will be able to answer questions with intelligence and have conversational skills that make purchase decisions easier to make.
True Holographic Projections
I’m sitting in a cafe, wearing a pair of subtle VR glasses, indistinguishable from normal eyewear. Across from me sits my mum who lives 500 miles away in another part of the country. We are both having a chat as if we are in each other’s company. Without the VR eyewear, there is no one there, but passers-by will just know that I am talking with someone. This will seem like an effortless integration into our lives. From meetings, family gatherings, dating and just some company for lonely individuals, the subtle nature of technology will feel like we are never alone.
TV and Films that have embraced the future of the Metaverse
With the Metaverse, VR and AR technologies beautifully visualised in books, TV programs and Movies, it is almost possible to believe we already have the technology. The reality is often underwhelming but we are making great strides to match what has already been envisioned. Check out some of the most popular movies below providing a glimpse into the benefits and sometimes the stark realities of the use of VR and AR technologies.
Disclaimer: All of the images in this article were created at https://www.midjourney.com/ by Steve. Midjourney is an independent AI research lab exploring new mediums of thought and expanding the imaginative powers of the human species. They were then adjusted and expanded using traditional graphic design and art tools. This was intended to demonstrate the use of AI in content creation for future concept visualisation. I believe these tools will become a powerful and seamless part of our technological lives in the future and am excited about the true power and creativity an individual can produce from such tools.
Want to Learn More
If you are interested to learn more about how the Metaverse can impact your business? Please get in touch and arrange a consultation with us
