The Next Trillion-Dollar Business Metaverse to bring revolution

The development of blockchain technologies has resulted in a sweeping revolution across financial markets, empowering individuals instead of institutions and channeling ownership of data and funds to their holders. The qualities of the blockchain — immutability, full transparency and the trustless nature of operations — have permeated many industries, swooning the balance of business orientation from centralized corporate reliance to decentralization.

This shift in the basic concepts that govern relations between participants to transactions, facilitated by smart contracts, has not gone unnoticed in the creator economy. As per Cointelegraph, with the decentralized finance and GameFi sectors marshalling across their respective industries and detracting droves of users from conventional approaches to banking and gaming, it was only a matter of time before influencers and content creators decided to shift the paradigm in their operating environments.

The content creation model has been altered forever with the incorporation of blockchain technologies that allow users to incentivize content creators, while creators can actually monetize their talent without having to share the proceeds with centralized, often-unfair hosting platforms.

The development of metaverses —simulated digital environments that combine augmented reality, virtual reality, blockchain, and social media principles to create areas for rich user interaction that mirror the actual world. Never before has talent had access to such an advanced set of tools to embellish even the bravest of ideas on the threshold of the real and digital worlds. The internet is generally a two-dimensional experience but with metaverse, you can scroll and browse through the Internet not only on a single screen but take a three-dimensional look.

Besides scrolls and browsing, you can also walk through the internet by using some accessories like handsets and glasses attached and connected to it. The metaverse offers limitless possibilities that can be used in virtually any industry. Influencer marketing, on the other hand, appears to be on the rise in the digital era.

The metaverse now allows everyone to begin their influencer journey while also allowing established individuals to develop their dual characters in the digital world, where brands will strive to maintain their status as inventive and trendy while staying ahead of the game. Metaverse has the potential to completely transform our lives, it goes without saying that it will redefine the social media ecosystem. 

S Mohini Ratna, Editor, VARINDIA