The Metaverse and Web 3 0: Embedding Ourselves into the Internet

Launched last month, Coke Studio’s Real Magic Record Store reinvents the core listening experience of a song. Tapping into the notion that 68% of consumers prefer to spend time in places that spark their imagination, the immersive web experience transports audiences into a variety of 3D environments, each one inspired by an artist on the collaborative track. Through integrated game mechanics, they are then tasked to bring the various musical components of Coke Studio’s Be Who You Are track together by completing artist-themed challenges. Perhaps the most famous current interactive world aimed at children is Roblox, an online platform that allows users to create avatars, play games, make their own games, and interact with others. Young people play games developed by other users – the most popular is currently Adopt Me!

We’re now moving from merely liking a picture of a lion to becoming part of the pride. Technological changes will enable audiences to go to impossible places and do impossible things, new adventures shared with friends anytime and any place. The upcoming release of Chat GPT-4, the fourth generation of the large language model (LLM), is generating considerable excitement in the Artificial Intelligence (AI) community. According to Microsoft Germany CTO Andreas Braun, GPT-4 will offer new possibilities, including multi-modality and video processing, and will be a game changer in AI as it takes another leap towards accurate human interpretation. The release of GPT-4 is expected to revolutionize the AI industry with its improved functionality, accuracy, and efficiency.

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VRChat, for example, provides tools for blocking abusive users, and the means to report them, which might ultimately result in the user having their account removed. These avatar-based platforms, where users interact in virtual spaces via a text-based chat function, were actually designed for children. In both cases adults posing as children as a means to investigate were exposed to sexually explicit interactions. The concerns the young people told us they had included bullying and other forms of online conflict.

You might also use it to collaborate, socialise, game, work, exercise, morph into an exotic animal, or teleport to a virtual Jupiter. It’s a vision for a network of digital worlds through which we will navigate seamlessly using virtual reality (VR) and augmented reality (AR) devices to connect with others. We are already seeing this trend reflected in the number of creators who release music simply as a passion project.

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We will also examine potential use cases such as virtual assistants, social interactions, personalization, business and commerce, gaming, education and training, and healthcare. The company is now building its own metaverse as a marketplace for artists to create and sell 3D assets with a strong emphasis on social interaction through its leading studio, House of Kibaa
(“HoK”). On March 31, the company announced that the House of Kibaa will hold its first sale of virtual land assets on April 16 and 17 in the form of up to 10,000 four-acre parcels, each parcel being a “Pocket Dimension” within HoK’s Project Origin metaverse. HoK previously launched GenZeroes, a generative series of 10,000 distinct 3D avatars on September 20, 2021, which sold out in 37 minutes for a total of CAD 6.2 million, with a perpetual 5% royalty stream on secondary market sales. Looking Glass Labs is focused
on building scalable revenue streams from digital land sales, NFT drops, tokenized assets, custom creator tools, NFT and metaverse consulting services as well as royalties. The company is tapping into lucrative growth opportunities in both the NFT and metaverse
industries, which makes it a unique firm offers investors exposure to both of these fast-growing industries through a single investment.

SK Telecom has been growing these new business areas over the past few years, both organically and by acquisition. Its entry into the security business has been entirely by acquisition, where it genrative ai has bought new revenue to compensate for that lost in the core mobile business. It is too early to assess what the ongoing impact and success of these businesses will be as part of SK Telecom.

Roblox is another big player in this space, as it continues to be used as a platform to market to a younger generation, with brands such as FIFA and Warner Music Group creating a presence. Before Minecraft, there were other platforms such as multiplayer online games Club Penguin (launched 2005) and Moshi Monsters (launched 2008) which, while smaller in scope, still allowed young people to engage with others on online platforms with avatars they created. However, there is a rich history of platforms that could be considered, in modern terminology, to be “metaverses”. Launched in 2011, Minecraft is a block-building game which also allows for interaction with other users. In this case, fully interactive digital 3D objects are superimposed on the real world, effectively mixing virtual objects and people with physical objects and people into a seamless interactive scene. Our hope with this paper is that it will stimulate discussions within the edge computing community as a whole, including all key stakeholders.

“Many of us don’t realise we are interacting with metaverse technologies every day. These include gaming platforms, insights driven by IoT sensors and virtual reality (VR) and augmented reality (AR) applications like Google Earth which can be accessed just by smartphones. Recent headlines have highlighted the dangers to children of the metaverse – a generic term for the range of online virtual worlds, developed by different tech companies, in which users can interact. Because of concerns about higher interest rates, technology stocks have struggled since the beginning of 2022 relative to their previous performance, but the long-term value that the metaverse offers is capturing peoples’ attention. Investing in the metaverse
is a long-run bet, which makes the recent pullback of stock prices a good opportunity for long-term investors to invest in companies that are pursuing a future in the metaverse.

Contributions from Chris Priebe, angel investor & founder/CEO of HR tech platform Zelt. Amid ongoing innovation leaps in AI-enabled marketing, enterprise CMS tech leader Storyblok has been quick to warn brands of the risk of taking hyper-personalisation marketing measures too far –  and end up creeping out customers rather than securing sales. They do, however, regularly call for better education and support from adults in tackling the potential online harms they might face. For example, young people tell us they want discussion in the classroom with informed teachers who can manage the debates that arise, and to whom they can ask questions without being told “don’t ask questions like that”. Meanwhile, the online experiences reported by the 30% who reported being upset often didn’t tally with the extreme cases reporting in the media. Our analysis of responses showed that this upset is far more likely to come from abusive comments by peers and news stories about current affairs.

• Prevention has been the key message for 15 years, but this approach isn’t working.
• XEROTECH’s platform is making it easier for businesses and organizations to enter the metaverse, which is a testament to the company’s commitment to innovation and its understanding of the potential of AI and ML in the metaverse.
• Yet, these early avatars lacked fluidity of movement and the basic non-verbal communication that we take for granted in interpersonal interactions.
• We put forward a framework to start questioning what the next evolution of the internet should consider to ensure its human-centricity.

Online language-learning platform Duolingo has launched metaverse activations across Roblox and Decentraland to remind people to complete their language lessons. Now you can create and share .GIF files from your gameplay videos directly to Facebook, Google, or Weibo. Simply access your videos through “Gallery” by pressing “Alt+Z,” selecting “Animated GIF,” and clicking on “Share.” Press [Alt+F2] and start using Ansel Photo Mode for Redout, Railway Empire, and Frostpunk. Take photos from over 50 supported Ansel games, share them to our new game photography gallery, Shot with GeForce, and participate in our monthly contest. “Every one of these [tech] companies knows gaming is going to be a growth area, and it ties into their metaverse ambitions more broadly,” Wolf says.

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More recently it has developed several NUGU/AI applications for businesses and civil authorities in conjunction with 5G deployments. Broadband networks and related telco services are fundamental to the smooth running of digital environments today, and will be the building blocks of the Metaverse. We believe that telcos could play a coordination role that will help prevent the Metaverse from fragmenting into silos that are unable to interoperate with each other.