Will Metaverse encapsulate the future of digital entertainment?

Welcome to Metaverse.

Welcome to Metaverse.

Where the physical is combined with augmented reality and virtual reality.

Where your Meta Me resides.

Where your avatar plays, works, buys and interacts with a shared online universe.

You’re present on the internet and you don’t just look at it.

It is the next evolution of online experiences; Web 3.0. Plus, you can make money and not just spend real money on it.

The Covid-19 pandemic has accelerated the growth of virtual communities, while new developments are laying the groundwork for postcovida life, this has begun with the emergence of metaverse.

Definition of metaverse

The term “metaverse” was first coined in Neal Stephenson’s 1992 science fiction novel, Snow Crash, as a concept that combines digital and physical existence.

With this concept developing and gaining strength, metavers can now be classified as the convergence of physical and virtual realities on the new Internet.

The virtual and augmented reality market is it is expected to grow in value from US $ 46.4 billion in 2019 to US $ 1.5 trillion in 2030, according to accounting firm PricewaterhouseCoopers.

South Korea’s largest asset manager, Samsung Asset Management, recently launched a fund of metaverses. The fund focuses on eight topics: cloud computing, virtual reality, online gaming, online payments, 3D design tools, platform companies, mobility, and the luxury goods industry.

The game begins

Virtual worlds have presented a formidable opportunity in the Southeast Asian region.

The gaming industry jumped on the bandwagon as it put itself at the forefront of the pandemic and the rapid development of the first mobile nations.

Shibuya data count predicted that the Southeast Asian gaming market would record a compound annual growth rate (CAGR) of 8.5% during 2020 to 2025.

The six countries in Southeast Asia with the most important gaming markets are Malaysia, Singapore, Indonesia, Thailand, Vietnam and the Philippines. One of the factors driving the growth of the gaming industry in Southeast Asia is the growing popularity of sports. Another driving factor was the emergence of 5G technology in 2020.

Technology giants such as Facebook are giving way to the next version of the Internet.

According to ARK research, the revenues of virtual worlds will make up 17% annually, from approximately $ 180 billion to $ 390 billion in 2025.

Revenue from Asian games, which include SEA, China, Taiwan, India, Japan and South Korea, will exceed US $ 65 billion by 2020, with a number of players reaching 1.5 billion worldwide. region. In addition, Bank of America reported that the number of players playing Pokemon GO in the Asia-Pacific region is defined. will expand from 84 million to 311 million from 2016 to 2020.

Singapore has become one of the top destinations for gaming companies with the advent of industrial plants such as Electronic Arts, Riot Games, Ubisoft and the local gaming hardware company Razer.

Since 1995, the Singapore government has shown great interest in developing its gaming industry by supporting startups, opening and funding various research laboratories dedicated to gaming.

What’s on the horizon for the metaverse?

The Covid-19 pandemic is driving the Internet to the next stage of its evolution, something called “Metaverse” where, as a result, cyberspace becomes more of an interactive 3D space with commerce and networking alongside content, from just like the worlds of popular games. as Fortnite i Roblox, said Min-Liang Tan, chief executive of Razer.

Meanwhile, global gaming company Streamline the media group, headquartered in Kuala Lumpur, recently announced that Shawn Layden, a 30-year veteran of the gaming industry, has joined its advisory board.

“The lines between media, entertainment, technology and video games have converged in the metaverse. Now is the time to build a sustainable structure around it that progresses in the evolution of business models and welcomes more people, voices and talent to shape it, ”said the CEO and co-founder of Streamline Media Group , Alexander Fernandez.

Streamline understands the role-playing games that can have the metaverses of the media, technology, video games, fashion, and the entertainment industry.

The company made fashion history by collaborating with international fashion house Balenciaga on an innovative video game: Afterworld: The Age of Tomorrow, showcasing an interactive and immersive 3D gaming experience.

“The digital transformation has arrived and video game technology is the infrastructure that will bring immersive interactive experiences to all aspects of life. It will open up new opportunities for product discovery, commerce, virtual coworking, education and social interactivity. Welcome to the metaverse. ”Said Fernández.

The metaverse has come to our shores without us recognizing it and has come to stay.

This is precisely what the gaming world has shown.

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