Welcome
Around the metaverse in 60 minutes
We are your guides
Saskia Fairfull, Co-host of Metarial, Industry Liaison at Billy Blue College of Design, Torrens University and Contributing Writer for Inside Retail Magazine.
Marcus Crook, Co-host of Metarial, Co-founder & Creative Director at HoMie Clothing, REBORN the label and HoMie Creative.
Want to make your own avatar? Follow this link Ready Player Me
Our brief exploration will venture into four realms:
Metaverse
Non-fungible tokens
Online games
Digital & physical
METAVERSE
The next evolution of the internet and social networks using real-time 3D software.
Socialising, including social media.
Business interactions and transactions.
Entertainment, from gaming to film and live music.
Shopping: virtual shops selling virtual and physical goods.
Education: immersive experiences for those attending schools, colleges, and universities.
Decentraland's "population" is approximately 800,000 registered profiles.
AO Metaverse
Q’s
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Immersive storytelling and limitless self expression.
Gucci isn’t like the other luxury brands. It stands for individuality and bold style statements.
Recently, Gucci purchased virtual land on the Sandbox as part of its new digital retail concept, Gucci Vault.
‘Vault’s bespoke land plays host to a series of impossible experiences.’
By owning virtual land, Gucci Vault will be able to produce 3D fashion shows, events, interactive spaces, utilise Gucci branded NFTs and sell virtual products.
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Yes. Web3 uses blockchain technology to build the metaverse or metaverses. It will take considerable infrastructure, system interoperability and operating power before Web3 is standardised.
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Sport is perfectly suited to the metaverse as it straddles physical and digital spaces.
Firstly, it revolves around a game, played either by professionals or local teams. Sport draws a crowd, community, hype and competitiveness.
It encompasses retail opportunities such as merchandise, collectibles and mementos.
As well as spin-offs for example Fantasy leagues, digital games - FIFA and NBA2K.
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Metaverse image credit: WPP
Further metaverse resources
For in-depth reading, check out Tony Parisi’s ‘The Seven Rules of the Metaverse’
THE NFT BOOM
NFT = Non-Fungible Token
A digital token that sits on a blockchain network. It stores metadata which can’t be changed or deleted once it has been created.
Millennials are the most likely generation to collect NFTs, followed by Gen X and Gen Z. While men are 3x more likely to collect NFTs than women. Morning Consult 2021
THE NFT BOOM slide 3
Notable NFTs
Q’s
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Currently, brands are creating NFTs that are unique, limited edition or carry value to the owner as a collectible. This includes: digital art, digital fashion, event tickets, vinyl toys and music.
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Possibly the most asked question of 2021. And the answer is still up for debate.
However, in 2021 the NFT market reached a sky high value of $41 billion. Not far from sales in the traditional art market, which reached $50 billion in 2020.
There are signs that this little digital token, could be here to stay.
And if not, we’ll remember it as the word of the year in 2021 by Collins Dictionary.
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Short answer not the actual NFTs. However, the process to mine cryptocurrency relies heavily on energy resources. We recommend checking out Clean NFTs for further information.
NFT image credits: Original source Rolling Stone via Twitter Users @0xfiretype; @LagunitasIQ, 2; @Mkimbs; @LagunitasIQ; @Mkimbs
ONLINE GAMES
Gateway to the metaverse
Digital games are some of the most immersive environments currently available. Providing a solid foundation to build upon.
Travis Scott’s Fortnite concert amassed over
27 million unique views in 2020
Play with friends, build your own games, attend events
Most popular with Millennials, Gen Z & Gen Alpha
Fortnite Battle Royale
Fortnite Creative
Fortnite Tones & I concert
Louis Vuitton game app
Zara FB & IG filter game
Last week, RTFKT (now part of Nike) announced it will release Metadugeon, a game in the Sandbox Alpha 2.
Virtual reality experiences
Fitness is a popular genre in VR games
Pop culture collectibles
Comic books, figurines, trading cards
VeVe Digital Collectibles, display in your own showroom
“The biggest opportunity for physical goods is virtual goods.”
— Ryan Mullins, Founder and CEO Aglet
Q’s
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Item description
Image source: Fortnite
Further online games resources
DIGITAL & PHYSICAL
Digital fashion
It all begins with an idea. Maybe you want to launch a business. Maybe you want to turn a hobby into something more. Or maybe you have a creative project to share with the world. Whatever it is, the way you tell your story online can make all the difference.
Immersive experiences
Liminal spaces, where mixed reality merges with physical environments.
In-store
DIGITAL & PHYSICAL slide 4 -
Milan Fashion Week, United Colors of Benetton
A digital replica of the physical store located in Corso Vittorio Emanuele will be the brand’s debut entering the metaverse. A gamified experience where shoppers collect rewards in the form of QR codes to be redeemed in the physical store.
“81% (of respondents) think that a brand’s digital presence is as important as its in-store presence”
DIGITAL & PHYSICAL slide 5 - RETAIL example
Q’s
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Premium retailer Farfetch has been pushing the boundaries of physical and digital. Their Store of the Future concept integrates various technology solutions to enhance the shopping experience.
Luxury fashion house Burberry were quick to adopt digital platforms and immersive experiences during the pandemic. Opening Burberry Spaces in Shenzhen, a social retail store powered by Tencent.
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Virtual merchandise are items that have been digitised for use online.
NFT image credits:
Further digital & physical resources
Gucci Vault
Nike
Timeline of public information
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2019
May: Jordan x Fortnite collab (branded skins cost appx $18 USD and in Q2 2020, there were 350 million registered players)
May: Nike creates shoppable Snapchat lens for apparel
December: Nike secures patent for blockchain compatible sneakers ‘CryptoKicks’
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2020
July: House of Innovation opens in Paris with virtual playground activation incorporating QR codes and web-based augmented reality
September: Nike x League of Legends sneaker & apparel collab
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2021
November: Nikeland launches on Roblox
November: Nike files several Trademark applications to sell virtual goods online
Snap Spectacles x Nike AR running experience
December: Air Jordan x Fortnite collab
December: Nike acquires NFT studio RTFKT, bringing in-house deep knowledge of game engines, NFTs, blockchain technology and augmented reality
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2022
January: Nikeland Roblox experience opens at House of Innovation New York
February: Nike sues StockX for selling Nike branded NFTs - trademark infringement
February: House of Innovation Paris launches state of the art weather simulator for product testing using real-time 3D software Unreal Engine
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Beyond
Virtual land
NFTs
Connected spaces
Digital twins