How Metaverse Will Transform Creator Economy?
The obvious answer is AI-powered content. Alas, obvious answers do have more tiny and not-so-easy-to-digest details yet to be addressed. If the Metaverse actually realizes its AI potential, in what ways will content creators can work with AI-assisted if they don’t have a Dev or Tech background education?
And one step forward, if AI tools create content then who is the original creator? In what ways will content creation be overlapped by the technology tools enabling AI-powered video editing, AI-assisted animation, or even AI-powered music composition? Consider the Metaverse environment as a thirsty entity consuming online content 24/7. Which authorities will regulate Metaverse?
As a matter of fact, Virtual reality (VR) will eventually have a place within the Metaverse, but not for the foreseeable future given its slow adoption rates, according to experts. Although as it seems, today, the majority perceive the Metaverse ecosystem as a game for big corporations and mega brands.
The metaverse has focused on the creators’ ecosystem because it needs a great army of talent ready to create interactive and immersive content, thanks in large part to advances in VR and AR. Day after day we see the demand double its force upon Content Creators' Community as they are expected to build more immersive and interactive content than ever before.
In the near future, creators will be the working force for producing traditional two-dimensional content, but also creating the ways and tools through of making this content more interactive and responsive through online media. New content will be fundable and reachable mainly through digital media.
What we call today’s interactive content will be altered into a 3D world for consuming new content via Youtubers, TikTokers, podcasters, designers, artists, and so on. How will this be possible? The creators will produce digital replicas (avatars) of themselves and their existing environments (homes, studios, workplaces, etc) where they will be able to interact with their online visitors for every day or/and professional activities. Imagine doing your weekly grocery shopping by sending your avatar to the local online supermarket.
Creators will have to work with AI-assisted tools giving them the skills to translate a high-level vision into interactive and appealing content that is ready for consumption. This may involve AI-powered video editing, AI-assisted animation, or even AI-powered music composition.
How ready are we for the Metaverse?
The numbers are changing daily. For now, Gartner, Inc. predicts that 30% of organizations will have online products and services ready for the metaverse before 2026. However, this largely depends on the advancement of virtual technologies, not to mention, their ability to simplify their current e-commerce operations.
Indeed it might be populated with giant corporations, but we see medium and small businesses cautiously adopting the tools for an easy transition to Metaverse. Worth mentioning is that most historical patterns are solid evidence that the adoption of new technology like the internet, mobile payments, and more, is widely dependent on small businesses because they play a monumental role in getting the masses onboarded.
We already have a taste of our future online lives. In a way, we are involved in the Metaverse without really knowing it. In 2021, when Meta announced its Presence Platform, people got a good idea of what Metaverse is. The new Platform is powered by a series of AI capabilities that allow users to build mixed-reality experiences that blend virtual content with the physical world.
- Related article: Presence Platform
The aim is to create a more connected digital experience that allows users to move seamlessly from one place to another — spending time with people who may be physically distant — while maintaining their unique virtual identity and digital goods from one world to the next.
With Presence Platform, the goal is to unlock a wide range of mixed reality experiences that are guided by Meta Responsible Innovation Principles. This starts with being responsible stewards when it comes to collecting the information needed to deliver amazing mixed reality experiences that are safe and seamless.
This is of great importance because Privacy should be a starting point for innovation — not an afterthought. That’s critical when it comes to products that live in our homes, and connect us to other people, while they serve us as an entry point to the metaverse.
A white paper produced for Meta by the independent economic consultancy Analysis Group has estimated the metaverse economy could be worth more than $3 trillion globally in a decade.
