Step by step Metaverse redefines the Creator Economy while shaping how this new virtual reality will co-exist with our existing world. The metaverse infrastructure 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.
Call for Content Creators
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.
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.
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.
Welcome to a Virtual New World
And we do see that 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.
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. This 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.
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.
Content Creators & 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.
After all the Metaverse World is here to stay. Get ready!
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.