Metavers: welcome to the future

Samsung, Facebook or even Gucci, the big groups are all throwing themselves into the metaverse. A mania that emerged during the health crisis that led to repeated confinements and curfews, in addition to the infinite possibilities that this virtual world seems to offer. Imagine being isolated, away from loved ones, finding yourself around a table in an imaginary universe for dinner, without setting foot outside. This is what Meta Quest, formerly Oculus VR, launched with its beta of Horizon Workrooms, an augmented reality exchange space. More than an alternative to being together, companies see in it a great potential to increase their turnover.

Companies attacking metaverses

Metaverse, a contraction of “meta” and “universe”, is already being sold as the future of the Web. Today, the technological and Internet capabilities allow us to generate universes that are so realistic that companies have already adopted them. Samsung, for example, is working on Decentraland, a virtual world that offers its users the opportunity to attend cultural events such as concerts. Terra, a public blockchain, offers a 4.0 workspace thanks to Terra World. Thanks to this ecosystem, professional interactions would no longer be limited to video conferences but to virtual coexistence under an avatar that we have created and customized. And the personalization of our virtual alter ego passes above all through dressing! The sale of digital assets within these worlds has pushed the turnover of some companies exponentially. More and more of them are seizing this opportunity, as happened for Gucci, which in the spring of 2021 marketed a model of bag for the sum of 400 dollars. In a real world where luxury brands fight against counterfeiting, the metaverse protects them from this threat thanks to non-fungible token technology (NFT), non-modifiable, non-duplicable and protected by the blockchain.

From fintech to finverse, there is only one step

Epic Games, publisher of the video game Fortnite, has raised $ 1 billion to support its growth within the metaverse. Mark Zuckerberg wants to invest $ 50 billion for his Meta model. According to the Bloomberg Intelligence report, this more than promising sector could represent over $ 2.5 trillion by 2030. With the rise of the metaverse and the investment of some entities, the emergence of the need for an alternative financial system is definitive. The emergence of payments within this environment requires adaptation, even in some cases the creation of new financial services provided by fintechs, which are applicable to the metaverse. In a fictional virtual world where we can buy houses and land, a sizable economic and financial system must be able to support these transactions. To remain competitive, fintechs will need to use their innovation capital.

Marina Fleury

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