In this article, we dive deep into the future of the metaverse. We explore the definition and potential of “metaverse 2.0” and what this could mean for everyday individuals. Also, we discuss various careers that may adapt or emerge with the iteration of metaverse 2.0. That includes a range of roles, from teachers and artists to event organizers and virtual real estate agents. Finally, we evaluate potential developments and integrations in the future of the metaverse.
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The concept of the “metaverse” is nothing new; being featured in science fiction media for decades. However, only in the last ten years has the metaverse materialized to become a real business venture. With distributed ledger technologies (DLTs), artificial intelligence (AI), and mixed reality technologies still in their infancy, the future of the metaverse is near-infinite and almost impossible to predict accurately. That being said, there are some plausible theories about what to expect and what people would like to happen with the future of the metaverse.
The term “metaverse 2.0” is relatively new and refers to the next iteration of metaverse developments. Primarily, this would mean a transition from Web2 to Web3 metaverse applications. This means apps would operate across a distributed public network of nodes, not a centralized private entity. Moreover, Web3 is more community-centric, facilitating decentralized governance of projects and platforms. As a result, end-users and consumers feel more involved with a brand, and a business will grow in line with its target market demands.
The first initiation of the metaverse mainly profits those working on the technology or individuals with high technical expertise. In metaverse 2.0, the commercialization will appeal to more everyday users with an expansion and innovation of career prospects. As such, the way people will interact and generate income will drastically change with the future of the metaverse.
In education, there are three main parties: teachers, students, and regulators. Metaverse 2.0 will radically change the experience of education for everyone involved. Imagine going to a metaverse school with other children of similar ages from anywhere in the world. It doesn’t matter if you speak the same language or not because real-time artificial intelligence (AI) can automatically translate during a conversation! Children can learn in a colorful and engaging environment, with specific designs to enhance social learning.
In the real world, teachers often conduct different subjects to students without specializing in a specific area. However, in the future of the metaverse, schools will gain access to high-level, world-class educational material that could be taught to students of varying ages in different ways. The transparency, availability, and interoperability of knowledge in the metaverse are key to improving the education of the overall population.
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Writing is a skill present throughout human history, adapting to new mediums over time. From carving in stone to using ink and quills, paper and pen, and push-button typing, metaverse 2.0 will shift the writing dynamic again. Writers could be considered valuable in the future of the metaverse for marketing and promotions of projects.
Also, writers could have a new platform for sharing their work with people. For example, an author could own a piece of metaverse land or real estate akin to the setting in the story. Statement features from a narrative could feature as digital assets available to buy as merchandise. Or, people could go to a venue to hear a writer’s work. Writers could use a text-to-speech format with auto-translation for their work to reach millions of people in different languages simultaneously.
Attributing 2% of the world’s global domestic product (GDP), the fashion industry is worth approximately $3 trillion worldwide. As in many valuable industries, creating a fashion brand startup is notoriously difficult, with costly initial investments and fierce competition. However, metaverse 2.0 will allow anyone who wants to become a fashion designer to do so with ease. As more people transition into the metaverse, there will be increasing demand for alternative and unique looks for avatars. Moreover, as users know their avatar isn’t “real” per se, they are more likely to try more daring looks than in real life. This is a recipe for great creative potential.
This isn’t to say that being a successful fashion designer will be easy. You will need to be familiar with graphic design and/or programming alongside having the creative flair to generate attractive garments for avatars. Also, you will need to incorporate marketing and promotional activities for a brand name to grow. On the plus side, a designer has a built-in portfolio of their designs and assets sold using the wallet address.
Similar to writers, musicians have been sharing their vocal and instrumental artistry with an audience through various mediums over time. The future of the metaverse will enhance the artist-fan relationship like never before. Plus, metaverse 2.0 will offer musicians a far more cost-efficient way of performing. Furthermore, musicians won’t need to absorb hefty cuts from royalties and commissions from third-party intermediaries such as managers, record labels, and distribution companies. Instead, payments are either peer-to-peer directly between artist and fan or minus a small platform fee, substantially smaller than traditional services.
Musicians will have the opportunity to perform to millions of fans worldwide simultaneously. In addition, artists can perform more intimate gigs with fans as an augmented reality (AR) experience in fans’ own homes. This allows artists to remain safe while being closer than ever with their biggest fans.
Finally, metaverse 2.0 will allow musicians to sell non-fungible token (NFT) merchandise and experiences exclusive to the metaverse. Fans could wear limited-edition merchandise to a gig or display artist assets in their metaverse land or real estate.
Virtual Real Estate Agents
With so many blockchain networks, metaverse applications, land masses, and real estate available, it can be challenging to know what could be the best investment. This is where virtual real estate agents come in. Agents could host an aggregate service, collating all relevant land available in the metaverse. Also, agents could advise on the technical and fundamental analysis of a metaverse project. In addition, agents could advise on creating an investment strategy and how best to monetize virtual assets.
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It’s commonplace to attend events, rituals, and gatherings in various social settings to celebrate or commemorate someone or something in the real world. The future of the metaverse will be no different. If anything, due to the reduction in planning costs, social metaverse 2.0 events may become more popular than real-life events. As such, the future of the metaverse will include a demand for creative, tech-savvy event organizers.
Musicians could hire event organizers to arrange a virtual social setting and audience experiences, allowing the artist more time to focus on their music. Alternatively, event organizers could assist in hosting engaging work events, birthday celebrations, or charity fundraisers. Also, it is plausible to anticipate weddings and funerals in the metaverse, allowing people’s international friends and family members to be part of an event they may otherwise have missed.
Metaverse 2.0 event organizers can take care of the small details that make events unforgettable. For example, an event organizer could arrange to distribute non-fungible token (NFT) invites or airdrop giveaways to participants. In addition, event organizers can cater to VIP experiences and manage international time zones. Moreover, event organizers are ideal delegates for managing the finer details of events, such as decorations, music, and activities.
Unfortunately, as the development of the metaverse is still in its infancy, there is a lot of space to bring out the worst in humankind. Initial testing and research into user behavior in the metaverse show more work needs to be done to prevent bullying and harassment.
Anti-bullying campaigns in the social space are becoming increasingly prevalent as fears around bullying in the metaverse are worse than on social media platforms. Furthermore, a researcher studying human behavior in the metaverse was sexually assaulted within the first hour of entering the Meta platform. In response to an article from Business Insider, Meta states: “In Horizon Worlds, Personal Boundary is default on at almost 4 foot for non-friends to make it easier to avoid unwanted interactions. We don’t recommend turning off the safety feature with people you do not know.“
Metaverse 2.0 will include more stringent security precautions for users to prevent such abuse. Accordingly, it is fair to suggest the demand for metaverse policing and auditing will rise in the coming years.
Potentials for Metaverse 2.0
In the realm of futurism and science, the future of the metaverse will be as one complete interoperable mixed reality with gateways to different metaverse applications. Furthermore, for the technology to evolve with its users, there would ideally be a metaverse DAO (decentralized autonomous organization). This would allow for decentralized governance of the metaverse with no centralized operators focused on profits.
Other considerations for the future of the metaverse could include a “Consent” button that could reduce the risk of assault. In the future of the metaverse, it could be possible to have built-in avatar age KYC (know your customer) verification with an option to disclose user age publicly or to remain private. This would assist in crime prevention and control of age-moderated material. However, this feature would need a majority vote from the metaverse DAO to be implemented.
Finally, another option that considers users’ health could be a timeout button. It is not unknown that people can become so addicted to video games that they forget to eat, sleep, and look after themselves (or their children). Therefore, the future of the metaverse should consider the potential addiction impact on users. For example, there could be a timeout after “x” amount of hours in the metaverse, needing to spend a minimum of “y” hours in the real world to return. The relevant periods could be voted upon and determined by the metaverse DAO.
Exploring the Future of Metaverse 2.0 – Summary
The potential for the future of the metaverse is astronomical. Metaverse 2.0 refers to the next iteration of what the metaverse could look like for everyday users. The future of the metaverse involves a new way of social interaction and revenue streams for users. As many real-life career roles are transferable to the metaverse, it will take little adaptation to transition to a new medium of employment. Doing so, however, will require users to educate themselves about the functionalities and potentials of the technologies used in the metaverse.
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