Content Creators welcome to the new term and the new world of Metaverse. But what do we mean by the term Metaverse? It is a fully digital environment powered by blockchain and virtual reality.
Naturally, all new online environments need content and those who provide content to metaverse will become metaverse content creators. As it seems metaverse content creators will have access to powerful tools that will allow them to create impressive and interactive online experiences for their audiences.
Step by step, the online ecosystems will transform into an interactive network of 3D virtual worlds (known as Metaverse) connecting people and brands through online experiences and activities. This will form a new series of daily online interactions for individuals regarding their social life, professional growth, commerce habits, and everything in the between. We may consider it as the next step of the internet of today.
For some people, the Metaverse claims its positioning as the new face of digital existence and representation of the Internet through a 3D virtual environment. But for some others, it may look like a hostile new world. On the other hand, content creators find a new business stream for their skills.
When did Metaverse appear?
The first public introduction of the term “Metaverse” made a disrupting appearance at the beginning of 2021. Before that year only a few were familiar with the term. Nowadays, “metaverse” is the main topic of discussion among digital marketing & SEO experts, content creators, web developers, e-commerce consultants, online news platforms, art dealers, eshop owners, and many others in the digital field.
Today, the “metaverse” has become the most used word of 2021-2022. However, the word has a long history before our days. It was coined about three decades ago by Neal Stephenson in his science fiction novel, Snow Crash, which portrays a next-generation internet powered by virtual reality.
Every single sector of the digital economy will gradually alter its way of operation – one way or another- but there is one group that will be absolutely co-depended by Metaverse’s strong disruption: all creators. We already see that metaverse has left its mark throughout the content creation process. As Mark Zuckerberg of the newly-named Meta (previously known as Facebook) has said, “At the end of the day, it is really the creators and developers who are going to build the metaverse and make this real.”
How Metaverse will transform content creation?
The obvious answer is through AI-powered content. Alas, obvious answers do have more tiny and not-so-easy-to-digest details yet to be addressed. If the Metaverse actually realizes its AI potential, in what ways will content creators can work with AI-assisted if they don’t have a Dev or Tech background education?
And one step forward, if AI tools create content then who is the original creator? In what ways will content creation be overlapped by the technology tools enabling AI-powered video editing, AI-assisted animation, or even AI-powered music composition? Consider the Metaverse environment as a thirsty entity consuming online content 24/7. Which authorities will regulate Metaverse?
As a matter of fact, Virtual reality (VR) will eventually have a place within the Metaverse, but not for the foreseeable future given its slow adoption rates, according to experts. Although as it seems, today, the majority perceives the Metaverse ecosystem as a game for big corporations and mega brands.
The metaverse has focused on the creators’ ecosystem because it needs a great army of talent ready to create interactive and immersive content, thanks in large part to advances in VR and AR. Day after day we see the demand double its force upon Content Creators Community as they are expected to build more immersive and interactive content than ever before.
In the near future, creators will be the working force for producing traditional two-dimensional content, but also creating the ways and tools through of making this content more interactive and responsive through online media. New content will be fundable and reachable mainly through digital media.
What we call today’s interactive content will be altered into a 3D world for consuming new content via Youtubers, TikTokers, podcasters, designers, artists, and so on. How will this be possible? The creators will produce digital replicas (avatars) of themselves and their existing environments (homes, studios, workplaces, etc) where they will be able to interact with their online visitors for everyday or/and professional activities. Imagine doing your weekly grocery shopping by sending your avatar to the local online supermarket.
Creators will have to work with AI-assisted tools giving them the skills to translate a high-level vision into interactive and appealing content that is ready for consumption. This may involve AI-powered video editing, AI-assisted animation, or even AI-powered music composition.
How ready are we for the Metaverse?
The numbers are changing daily. For now, Gartner, Inc. predicts that 30% of organizations will have online products and services ready for the metaverse before 2026. However, this largely depends on the advancement of virtual technologies, not to mention, their ability to simplify their current e-commerce operations.
Indeed it might be populated with giant corporations, but we see medium and small businesses cautiously adopting the tools for an easy transition to Metaverse. Worth mentioning is that most historical patterns are solid evidence that the adoption of new technology like the internet, mobile payments, and more, is widely dependent on small businesses because they play a monumental role in getting the masses onboarded.
We already have a taste of our future online lives. In a way, we are involved in the Metaverse without really knowing it. In 2021, when Meta announced its Presence Platform, people got a good idea of what Metaverse is. The new Platform is powered by a series of AI capabilities that allow users to build mixed reality experiences that blend virtual content with the physical world.
- Related article: Presence Platform
The aim is to create a more connected digital experience that allows users to move seamlessly from one place to another—spending time with people who may be physically distant —while maintaining their unique virtual identity and digital goods from one world to the next.
With Presence Platform, the goal is to unlock a wide range of mixed reality experiences that are guided by Meta Responsible Innovation Principles. This starts with being responsible stewards when it comes to collecting the information needed to deliver amazing mixed reality experiences that are safe and seamless. This is of great importance because Privacy should be a starting point for innovation—not an afterthought. That’s critical when it comes to products that live in our home, and connect us to other people, while they serve us as an entry-point to the metaverse.
Metaverse Content Creators are on the rise. How accurate is this?
According to CoinTelegraph, More than 50 million creators are feeding their online economy with their talent and ideas. Creator Economy is attracting more than US$800 million in venture capital. If we want to be frank, these figures reflect a small proportion of the real numbers. And as we see new venues becoming rapidly available then it is only a matter of time before we witness a huge spike in Creator Economy earnings.
On what ground is that doable? Beyond ordinary limits take a good look at the blockchain economy which already allows individuals to own digital goods in the virtual world. Anyone can own an NFT in the real world, while it exists in the virtual world. Additionally, the Metaverse is embracing the development of blockchain technologies challenging the existing financial markets and institutions.
The economy, as we know it, has shifted its ground pillars from material ownership to data and technology; also known as non-material ownership. So, more individuals who easily use blockchain technologies are transforming the balance of business orientation from centralized corporate reliance to decentralization. This detail is the essential facilitator for making Metaverse the new incubator for Creator Economy.
In other words, any content creator, out there, can become a multi-millionaire only by having a stable high-speed wifi connection and a bunch of smart contracts.
The future for content creators looks bright and fruitful for those willing to take the ride. The competition for freelance writers is growing rapidly, but the content writing industry is growing at high speed. Content creators are in high demand and will continue to increase as we witness on LinkedIn job listings, as well.
- Related article: What will the metaverse bring – and when?
In the metaverse, most creators will have the opportunity to interact with fans and other audience members in new online ways. Creators will create virtual avatars, capable to interact in real-time with fans in open online public spaces, giving interaction a whole new dimension.
In this online world, the metaverse will also enable creators to connect and interact with more diverse audiences. AI-powered tools will translate content with immaculate precision, making cultural obstacles a thing of the past. In many ways, this is already happening. For example, some say the metaverse already wins more creators and users acceptance on gaming platforms like Roblox.
- Related article: The Metaverse Will Radically Change Content Creation Forever
The metaverse offers opportunities for creators and their $104 billion creator economy. For instance, musicians can host fully virtual concerts on the metaverse that can bring audiences from across the globe without geographical limitations. Apart from this, artists can create and sell 3D art to display on the walls of virtual homes in the metaverse. British auction house Sotheby is already interested in making online auctions by recreating its London headquarters on the metaverse to display art from 27 NFT artists.
The platform offers new technical advancements that the traditional Sotheby’s site could not previously implement on its main website. The layout of the Metaverse website, similar in format to NFT-specific platforms such as OpenSea and Nifty Gateway, is designed to display the NFTs so that viewers can easily see the transaction history of any piece. Yet, unlike these other platforms, Metaverse offers a description of each piece’s significance, alongside the artist’s biography.
A wide range of technology companies — from big players like Microsoft and Google to smaller ones like Niantic and Emblematic — are already building experiences and products for the Metaverse. Early versions of it already exist in the virtual worlds of games like Roblox, Minecraft and Fortnite. It incorporates technologies like virtual reality (VR) and augmented reality (AR) that, while still young, have been in use for some time.
Ways to Create Content on Metaverse
In case you want to create content in the metaverse, you can use Roblox and sell your own digital products for avatars. Brands like Gucci and Adidas create their own digital brands within Roblox, Nike jumps into the metaverse with ‘Nikeland,’ a Roblox virtual world. As you can see the possibilities are endless.
In this video by Ian Corzine, we can see ways to create content for the Metaverse.
Facebook & Instagram is paying Metaverse Content Creators
Mark Zuckerberg announced that Meta is testing a designated place on Instagram where creators can get discovered and paid-for content. Meta states that the creator marketplace allows brands to share new partnership opportunities. Once a brand finds a creator that they want to partner with, they can send a project with the details to them, including information about deliverables and payment. Meta also clarifies that there will be a partnership messaging folder within Instagram DMs where creators and brands will be able to filter through their offers and projects.
Meta CEO, Mark Zuckerberg, has announced that the company is rolling out tools to help select content creators to make money on Facebook and Instagram. In a Facebook post dated June 21, Zuckerberg stated that Meta is rolling out updates on both Facebook and Instagram to “help creators build for the metaverse” as well as grow the economy of the content creators.
In a Facebook post, the CEO shared six new updates, the first one being more revenue to content creators, with the social media platforms holding off any form of revenue sharing like paid online events, Bulletin, Badges, and Subscriptions until 2024.
Zuckerberg also announced that Meta is expanding its NFT test on Instagram so more creators around the world can display their NFTs on Instagram. The supported blockchains for showcasing NFTs on Instagram are Ethereum and Polygon, with support for Flow and Solana coming soon. Zuckerberg noted that the company will bring this test to Facebook soon too, starting with a small group of U.S.-based creators.
Meta for Creators notes: Creators can now more easily onboard, check their Stars earnings by content type, manage their goals and access other Stars settings. Creators on iOS will be able to access Stars directly from the mobile post composer on the new Pages experience while creating a post. Once they meet eligibility for Stars, creators can turn Stars on and off for their posts directly from the post composer. Stars onboarding will also be accessible from Creator Studio.
As Meta continues building creative tools for Content Creators like Live Audio Rooms and Bulletin, as well as monetization products like Stars and affiliates, the more we see their investment and their desire to reward creators, especially those who are just starting out, for creating content their communities love.
This investment will include new bonus programs that pay eligible creators for hitting certain milestones when they use Meta creative and monetization tools. They’ll also provide seed funding for creators to produce their content.
Meta also announced the opening of the Facebook Reels Play Bonus program to more creators on Facebook and also letting creators cross-post their Instagram Reels to Facebook and monetize them there as well. The Reels Play Bonus program is a part of Meta’s larger $1 billion creator fund.
TechCrunch notes the similarity to TikTok’s Creator Marketplace, which is the video app’s in-house influencer marketing platform. TikTok is making it easier for brands and agencies to work with the influencers using its service. The company is rolling out a new “TikTok Creator Marketplace API,” which allows marketing companies to integrate more directly with TikTok’s Creator Marketplace, the video app’s in-house influencer marketing platform.
How to sell on Metaverse?
For starters, you can replicate the physical retail experience with a virtual venue and sell through your virtual shop. Within these virtual spaces, you can offer a variety of experiences, including:
- Virtual try-outs of products
- Try-ons of clothing
In addition to bringing people into a virtual space, you can bring virtual elements to them using augmented reality (AR) technology. Also, a growing number of fashion brands are selling virtual clothing and accessories for people’s avatars to wear. As a content creator, you can create virtual items for digital avatars. Complementing virtual spaces, you can use the metaverse to hold various virtual events and create other immersive experiences.
Google has already begun to experiment with its project called the Glass Product which is connecting us through augmented avatars combining the digital and physical world. It has laid the foundation but it has to take it on more actively. According to their CEO Sundar Pichai the Metaverse is an “evolving computing in an immersive way with augmented reality.”
Meta, showing its serious involvement on metaverse with a variety of projects on Facebook, Instagram, and Oculus VR all under its main brand.
- VR Messaging — helps connect users in an immersive way.
- Project Cambria — a VR headset compatible with the Oculus Quest VR world.
- Horizon Worlds Marketplace — a place where buyers, sellers, and creators can exchange digital goods.
CEO Mark Zuckerberg has also shown interest in Non-Fungible Tokens (NFTs), cryptocurrencies, and blockchains in the metaverse.
The Marriage of Content Creators, Metaverse & NFTs
A non-fungible token (NFT) is a type of cryptographic token on a blockchain that represents a unique asset. These can either be entirely digital assets or tokenized versions of real-world assets. As NFTs aren’t interchangeable with each other, they may function as proof of authenticity and ownership within the digital realm.
Fungibility means that an asset’s individual units are interchangeable and essentially indistinguishable from each other. For example, fiat currencies are fungible because each unit is interchangeable with any other equivalent individual unit. A ten-dollar bill is interchangeable with any other genuine ten-dollar bill. This is imperative for an asset that aims to act as a medium of exchange.
Fungibility is a desirable property for currency because it enables free exchange, and theoretically, there is no way to know the history of each individual unit. However, that isn’t a beneficial trait for collectible items.
What if we could create digital assets similar to Bitcoin but instead add a unique identifier to each unit? This would make each of them different from all the other units (i.e., non-fungible). Essentially, this is what an NFT is.
In case you wish to create your own NFT then this detailed article by The Verge will show you the way. In the guide, you will discover all the steps on how to create an NFT using two of the most popular marketplaces. In addition, the article reveals the basics of NFTs and the decisions you may have to make before deciding to sell one.
The Metaverse World is here to stay
For people to actually want to use these new technologies, they will need to feel safe. Companies like Meta have a lot of work to do both to build the credibility of the metaverse as an idea, and to demonstrate to people that we are committed to building it in a responsible way.
We want to take the next step without losing our right to protect our lives from invasive technologies. This means that being open and transparent about the work the metaverse-related companies are doing should be a requirement before they implement it into our everyday activities.
Nick Clegg, President, Global Affairs at Meta: “The metaverse is still at an early stage in its development. There is nothing deterministic in the way a technology impacts society. Technology isn’t good or bad in and of itself. People will use it as they see fit — and people will misuse it as well. Just as we have seen how problems in our physical society have manifested on the internet, they will reoccur in any system or platform regardless of what it is or who builds it. That is why we must create thoughtful rules and put guardrails into place as the metaverse develops to maximize its potential for good and minimize the potential harms.
There will be many low cost entry points to the metaverse — including through mobile phones — but to buy VR headsets some level of cost will be unavoidable. As part of Meta’s efforts to ensure it is actively considering diversity, equity and inclusivity as it works to help build the metaverse, we are determined to make our headsets as affordable as possible.“
A white paper produced for Meta by the independent economic consultancy Analysis Group has estimated the metaverse economy could be worth more than $3 trillion globally in a decade.
“An industry this massive would also be a job creation engine — and those jobs wouldn’t be limited to the campuses of Silicon Valley. In 2020, the mobile technology sector directly employed about 12 million people globally, and indirectly employed another 13 million people.
The metaverse economy will not only include the industries that will create its infrastructure, including hardware, software, payment systems, and broadband providers, but also sectors like e-commerce, education, gaming and more which will provide goods and services associated with it. When social spaces are created in the metaverse, people will need to be employed to manage and maintain them, just as they are in the physical world.”