"That Meta's move has propelled the concept of the metaverse into the public consciousness, bringing with it no shortage of brands into the space, is no bad thing. Very few of us beyond niche communities were talking about 'the metaverse' two years ago. And now we are."
"So what exactly is it? Ask the person on the street and answers will range from virtual reality to social media or blockchains. Instead The Drum, in partnership with Yahoo, gathered three leading lights from across this burgeoning industry to join The Drum's resident metaverse expert Webb Wright at Digital Transformation Festival 2022 and asked them the same question."
""I think it's existed for a lot longer than we probably think we actually know," says Adam De Cata, head of partnerships at Decentraland. "It's not too far of a stretch to say that we've actually been dealing with this for 10 plus years." The other panellists concur. Like Jack Nicholson in The Shining - we've always been here. Or at least since the various platforms and tools, from Twitter to Zoom to Twitch; NFTs to crypto and Roblox, became a part of our day-to-day lives."
Meta's rebranding has brought mainstream awareness to the metaverse and attracted many brands into the space. Public understanding of the term varies, with perceptions ranging from virtual reality to social media and blockchain technologies. Industry practitioners trace the metaverse's roots through existing platforms and tools such as Twitter, Zoom, Twitch, NFTs, crypto and Roblox, suggesting a decade-plus evolution. The interoperable nature of the metaverse offers brands opportunities to enable persistent identities and owned items across platforms. Authentic engagement and clear brand motivations are essential for success, as brands lacking community value risk failing to resonate within metaverse environments.
Read at The Drum
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