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It forms the key plate of the Internet and the metaverse
The history of human development is often repeated with new demands, and the metaverse is the area where new demands emerge.The Internet we are familiar with is thanks by the success of four key sectors, infrastructure, identity security, wallet accounts and social networking, which synchronize in the course of decades.Now, we are in the stage of building the foundation of the metaverse, similar to the early Internet creators in the 1990s. Therefore, while we look at the metaverse and its potential, we can also analyze this new field through the perspective of the same plate.
The Metaverse is committed to combining the existing technologies of the Internet and mobile networks with virtual reality and augmented reality to connect the human physical and digital world.This emerging field has great potential.By the end of 2021, about $10.4 billion of venture capital had flowed into the metaverse world of gaming, augmented reality, and virtual worlds.Analysts at Citigroup predict the Metaverse will eventually reach $8 trillion to $13 trillion.
There are many similarities between the Internet and the metaverse. First, both are defined as decentralized networks, where companies and platforms connect to create communities in that network.Second, both require specific hardware to access the platform (physical computers to access the Internet and VR devices to access the virtual world).Finally, both early adopters were technology-savvy, curious about knowledge, and fascinated by the potential of technology.Both require early adopters to buy the technology needed to access their respective platforms, even if the early technology is expensive and often not very user-friendly.
As the Internet became mainstream in the late 1990s, the winning companies developed strategies to constantly target key market trends, such as Microsoft's Internet browser.At the same time, a large number of Internet participants such as Google and Amazon have emerged to address the unmet needs of the industry.Soon after, Facebook, YouTube, Twitter and other social companies that really built the Internet appeared. These platforms were built on the first Internet wave development work, driving the rapid adoption and growth of customers.
But not all Internet startups have succeeded.Startups have rushed off the market without proper product development or profit margins, and the Internet bubble has caught many entrepreneurs and investors off guard.Now, winning Internet companies such as Google and Amazon are acting as bridges between these ecosystems and positioning themselves at the forefront of metacom innovation.However, similar to the Internet in the late 1990s, the current meta-universe participants are temporarily unable to address the exponential growth of use cases.
Next, we will take the first four key areas of the Internet as reference points to understand what are the key components of the metaverse that will exist in the next few years.
[Infrastructure] Internet: Apple, Microsoft; Metaverse: Ethereum, Solana, Avalance
[Identity security] Internet: McAfee, Symantec, Palo Alto Network; Metaverse: stealth startups
[Wallet account] Internet: Paypal, Stripe, Venmo; Metaverse: Metamask, Ronin
[Social Network] Internet: Twitter, Meta, Instagram, TikTok; Metaverse: Steemit, Status
Profit opportunities in the Metaverse
As people transition to a more accessible and vibrant metaverse, investors will need to understand changing corporate and consumer needs.According to the relevant research, the requirements in several key areas are as follows:
[infrastructure]
Infrastructure platforms that connect the real and virtual worlds: Decentraland and Genesis World are examples of virtual worlds where users can create, experiment, and make money from their content or applications.At the same time, the wave of new platforms continues, and more companies will develop cross-platform integration approaches in the coming years and provide users with a seamless way to experience the metaverse.The metaverse will become a connector connecting different virtual worlds, rather than a virtual world supported by a single platform.
Metacom Application Development Platform: As IT infrastructure evolves as metacom adoption increases, so does the demand for interconnected virtual worlds.Similar to native cloud technologies, programming engines are also used to create ecosystem native tools such as Roblox, Minecraft, and Mozilla Hubs.As the new infrastructure evolves, there will be more companies that will integrate all of these features smoothly and quickly, and possibly many "ETL tools" that flow data around individuals' unique identities.
[maintenance prevention]
Metaverse security data privacy products: Security and privacy risks in the metaverse are similar to the Internet.Since the metaverse relies on hardware to experience the platform, protecting the devices and firmware is critical.Just as traditional Internet security has evolved from network security to data protection for all devices, infrastructure, and endpoints, the security of metaverse enterprise participants will be the same thing.
The key pain point of the Metaverse is the lack of administrative bodies.For example, if someone steals the identity of a user in the metaverse, there is no apparent recourse.Security and privacy in the metaverse are mainly managed by enterprises, and there will be more "self-sovereignty" movements in the field.That is, consumers will be increasingly interested in using their own tools and resources to manage their own data and identities.This trend by businesses and individuals in managing data will create a lot of opportunities for a new generation of startups in this field.
[Wallet Account]
Financial infrastructure for Metaverse trading: According to data, NFT sales totaled about $25 billion in 2021, in the early days of the virtual buying experience.Given the increasing transaction volume in virtual worlds, the smooth integration of the virtual world with the traditional financial payment track in the virtual world and the single wallet experience will become more important, whether buying virtual land, clothing or other items.
Professional market for virtual goods purchase: As the boundary between digital identity and real identity is further blurred, users begin to buy art, real estate and clothing in the virtual market. SuperRare is an example of the NFT platform.If we consider previous network spin-offs of the Internet, we can expect professional markets similar to Lootex, focusing on particular vertical markets or product types to better meet customer needs.
[social networks]
Event planning and entertainment: In the post-epidemic era, as companies adopt new lifestyles, we will see more and more virtual event planning, hosting and execution needs to minimize physical distance and capacity constraints.Party.Companies such as Space and AllSeated are most recently innovating in this area.
Digital Body: As people begin to shift from a participatory economy to an ownership economy, a digital body that can move and talk is crucial to building a better user experience in a virtual world.These incarnations are formed in two key ways: by studying motion capture and touch (e. g., TeslaSuit), and by using images and video (such as AVP portfolio company D-ID to build a realistic avatar based on images and video).Now, companies' marketing and customer service departments and social media groups use these digital bodies to attract users.
Brief Summary
Keeping close contact with end users is crucial to the success of the solution, and for all of the above, pay close attention to consumer preferences to distinguish between corporate hype and reality.In addition, creating easy-to-use and understand products is critical to gaining consumer adoption on a larger scale.The Internet was set up to be a tool for delivering information.When social media emerges, it brings in more human interactive components for digital communication.Brands quickly understood the value of social media and began to develop strategies to reach target customers and their behaviors.Now, people have moved from economic participants to ownership and an immersive economy.As the metacmos continues to grow, companies need to adjust their strategies again in order to reach customers with new requirements at new levels and gain new insight to lay the foundation for future trends.
*The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of SparkDAO. Every investment and trading move involves risk, you should conduct your own research when making a decision.
