Metaverse Possibilities Beyond

22 June 2022 | Metaverse | Blockchain | Web3.0 

With the emergence of the Metaverse, there will be a Paradigm shift in Human Consciousness. The immersive nature enables Love and Human consciousness to transcend space in the Metaverse

The Metaverse is still being defined, both literally and figuratively. It is a gaming platform, a virtual retail destination, a training tool, an advertising channel, a digital classroom, and a new gateway to digital experiences. The Metaverse seems to be whatever people’s imaginations dream it to be. But today, the Metaverse remains challenging to define, even though the term has been circulating for decades. We know that beyond the hype, the Metaverse is real, potentially revolutionary, and has the makings of a significant opportunity. 

Metaverse and Web3 

Metaverse gets power from web3. Web3 proclaims a decentralized ecosystem in which individuals own, monetize, and utilize their data for their benefit,

  • Blockchain offers a permanent, single source of truth.
  • Digital assets on a blockchain value portability and permanence
  • Smart contracts containing conditional programming and self-executing applications

Metaverse applications built on Web3 benefit from permanence, functionality, and interoperability more than traditional Web 2.0 AR/VR experiences. (unmanifested form in web 2.0)

Digital assets are a core component of the Web3 tech stack, and access to these is central to future metaverse design. Wallets with cryptocurrencies, digital equities, stablecoins, and NFTs in the form of skins, tools, and even virtual real estate are critical to the Metaverse. 

Assets are on the same blockchain as the metaverse venue (for example, Ethereum, Polygon), but cross-chain bridges enable greater portability of digital assets between different metaverse venues.

Core services to evolve alongside emerging technologies for the Web3 Metaverse to fulfil its fullest potential.

Evolving Consumer Behaviour and Business use cases 

Mckinsey Research Suggest that Almost 60 per cent of consumers are excited about the transition of everyday activities to the Metaverse, with social connectivity, socializing and communicating with family and friends being the primary driver.

Business Model around Metaverse Senior Executive view, report by Mckinsey suggests that Early adopters are also seeking different capabilities compared with their peers. Early adopters are most interested in capabilities around building business models, infrastructure and back-end engineering, blockchain and e-commerce payments, product design, and branding and corporate strategy. Contemplators share building business models, infrastructure and back-end engineering, and product design among their top five capability needs but also require legal, risk, and compliance expertise and analytics.

The Immersive Metaverse world will get you digital Nirvana, opening up the endless possibilities for humanity.

This article is a part of knowledge-sharing series on Metaverse, compiled from various sources.For suggestion and observations write to prabir@trst01.com

Reference McKinsey, NyTimes 

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Sailaja

Sailaja is a successful entrepreneur who believes in her passion and dedication. She has a master in business management from Herriot Watt University. She worked as a CEO for a Pharma chain in Hyderabad, and years later, she pursued her dream for pastry and got a degree in pastry from Le Cordon Bleu College, London. She started and established her patisserie in Hyderabad, getting the tastes from Global travel, infused her finesse to products taking her brand a notch higher.

Neelima Ponuku

Neelima is a techno management professional, Trainer and Educator with 15+ years of combined experience in Public Sector Enterprise – Govt. of India, academia and corporate. She has done her Masters in Computer Applications and started her career as a Senior Engineer with the Indian Defence undertaking Public Sector shipbuilding company.
Armed with a management degree, her corporate experience has given her an opportunity to have been a proven leader with demonstrated success in building market strategies, identifying & acquiring key accounts & fostering customer relationships through structured engagement, customer focus & team management.
Her current position as VP Sustainability, she is engaged to promote the ESG agenda and actively contributes in providing sustainability management solutions. She firmly believes that business-decision making approach is not just maximizing profit or financial value only but to an integrated value, which combines financial, social, and environmental value.
Neelima cherishes the goal to combine her range of experience and abilities to be an enthusiastic, intelligent and compassionate person who will make a positive contribution towards a sustainable society.

Krishna Vallapu

Krishna Vallapu is a technology evangelist and Entrepreneur, graduated from Nagarujuna University and trained in IIM, Ahmedabad. Proven track record in building futuristic products, surpassing goals, and expectations for quality. Superior expertise with developer supervision and client relations. Out of box thinker who thrives in collaborative environments, working across business and technical teams.

Inder Davalur

Inder has an MBA in Finance in India. Utilizing his Finance background he rose through the ranks in the banking sector in the US and then after receiving his MS in Healthcare Services Administration he started his career in healthcare at the Tufts Medical Center, Boston. 

Inder’s growing understanding of the expanding role of technology in healthcare caught the attention of the bureacracy and was invited to work on the Patient Privacy and Electronic Records Committee for the State of Massachusetts and later on at the State of Georgia Department of Health and Human Services. These were in the years immediately preceding the development and roll-out of Health Insurance Portability and Accountability Act (HIPAA).

Sensing a rise in ERP movement, Inder joined a software company and worked on managing ERP solutions projects in the manufacturing sector where his clients included the Coca Cola Company, Sara Lee, International Paper, Siemens (Canada) etc .

In 2008 he came to India with the aim of realizing his cherished dream of working in India. He served as the CEO of a EMR software company, and later on led the Digital Transformation at several hospital groups as a group CIO and Vice President. Inder has to his credit, several published articles in national and international healthcare technology management and as an invited speaker at various private and government conferences. He has also been cited in several articles and studies including one at the National Library of Medicine in the USA. 

In his spare time Inder indulges in travel and reading.

Puru Modani

A versatile and passionate leader with 20+ years of expertise in IT Business & Product Strategy, Market Access & Distribution models and Talent Acquisition. Seasoned Investor.  Founded multiple successful businesses & Angel Networks.

An IIM – K alumnus, before embarking on his successful multi sector entrepreneurship journey, Puru served various Fortune 500 companies in Senior Leadership roles. His last corporate stint was with Bank of America.

Suraj Teja P.

Suraj is an entrepreneur, with more than 2 decades of experience in creating various successful enterprises, a seasoned investor funded multiple startups, specialize in creating healthcare delivery infrastructure, board member and strategic advisor, skilled in Healthcare, Telecom, IT Strategy and Market outreach.

Naveen Kadiyala

A Technology Leader and Entrepreneur with a proven track record of building and managing innovative solutions in digital content delivery. Demonstrated history of delivering strategic solutions in Cable, Media & Entertainment industries. Expertise in building interactive ad solutions, advertising platforms, Live Streaming(QAM, OTT, PPV), subscription-based Video (SVOD, AVOD, TVOD) services, Cloud DVR, and Broadband/WiFi services at scale across a multitude of infrastructure options(On-Prem, Hybrid Cloud, Cloud Native, Cloud Agnostic). A strong business development professional and an entrepreneur at heart with a Master of Technology focused in Computer Science from Birla Institute of Technology.

Prabir Mishra

An Investment Banker, Startup coach, Mentor, Strategic planner. Sector expertise  Social, Agritech, Edutech, Healthcare, eGov Strategic Planner, M&A, Transaction Structuring, negotiations and valuation, An IIM-A Alumni with more than two decades of experience.