As we approach 2023, it’s an exciting time to be a part of the Metaverse, a virtual world that’s undergoing major transformations and advancements.
The name-change of Facebook to Meta in 2021 marked the beginning of the convergence of blockchain and virtual reality, and the birth of true digital ownership.
- Brand adoption: Brands are expected to fully embrace the potential offered by the metaverse in 2023. From Gucci, Nike, Louis Vuitton to Coca-Cola, some of the biggest names in the industry have already leveraged the power of the metaverse as a growth catalyst and a platform to build meaningful relationships with customers.
- Interactive events: While virtual events proved valuable during the lockdowns, companies are now looking to elevate the experience with the metaverse. Virtual concerts, conferences, product launches, exhibitions, and interactive activities will enhance corporate connection and networking across the world.
- Corporate exploration: The metaverse presents a unique opportunity for businesses to conduct operations remotely, efficiently, and intelligently. Virtual meeting rooms are already in use, and the metaverse is expected to revolutionise the concept of ‘digital twin’, where virtual simulations can be used to test and prototype new ideas in real-time.
- Multi-Sensory experiences: The metaverse of the future will be multi-sensory, combining touch and smell to create a truly immersive experience. Haptic touch suits, face masks, digital gloves, shoes, and other gadgets are expected to take the metaverse to new heights.
- Innovative products and experiences: The metaverse is a constantly evolving landscape of innovation. Yuga Labs’ recent release of Sewer Pass, which generated over $20 million in its first week of launch, is just the beginning of what’s to come. With advancements in photorealistic technology and motion capture, our avatars will become increasingly realistic and unique to us.
- Artificial intelligence convergence: AI is already being tested in the metaverse, with experiments underway to integrate AI-powered apps. The integration of autonomous avatars, enabled by AI, will allow us to have representation in the digital world without direct control.
- African metaverse: Africarare, Africa’s first metaverse, is set to launch its first African marketplace in 2023. This will create jobs and business opportunities for African artists and help explore new mediums and trade their creations. Land ownership is also expected to grow, following in the footsteps of brands such as MTN, Nedbank, and M&C Saatchi Abel, who have already invested in virtual real estate.
Our team at SingularityU South Africa have been teaching the story of disruption over the past 8 years. As we continue to explore the frontiers of the metaverse, it’s becoming clear that it’s following the textbook narrative of disruption: deceptive in the beginning, slow linear growth at first, but when it hits the knee of the curve, it completely disrupts industry and we see hockey-stick exponential growth. Join us in the metaverse to see this transformation unfold.
Mic Mann is one of Africa’s most respected futurists and exponential technologists having pioneered some of the continent’s seminal technology projects. As the co-founder and CEO of Africarare, Africa’s first metaverse, co-founder of award-winning experiential agency Mann Made, and the driving force behind the SingularityU phenomenon, Mic has unbeatable experience in digital innovation. He is a thought leader in Web3, cryptocurrencies, virtual reality and bleeding-edge technologies, with unshakeable optimism and belief in the power of exponential technologies to future proof Africa.
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