Lorenzo Cappannari - CEO & Co-Founder at AnotheReality - who participates in Bucharest Tech Week at the Metaverse Summit, answered some of our questions:
What is Metaverse in a nutshell?
The metaverse is the experiential and transactional layer of the spatial computing revolution, grouping three technologies: social virtual worlds, AR/VR, Blockchain. Today its most developed use case is gaming/entertainment - where the technology has been incubated for about 30 years - but it will soon take over all our digital interactions, thanks to a new generation of wearable hardware that will replace our smartphones.
When will Metaverse surpass the gaming industry and be widely adopted?
Today the gaming industry, of which the metaverse is still part, is worth 180bn dollars. In 2030 projections see the overall metaverse market spiking at 800bn, and some projections skyrocket at 13 trillions. When the surpass will happen is very hard to say.
What is missing right now for Metaverse to be widely adopted?
It’s surely the hardware, that will allow to “enter” the metaverse in first person, embodying this new internet and opening to a whole new way of interacting with digital content. Internet will become a lifelike artificial experience, that we will access either in a fully virtual way or in an augmented way. A new Reality!
What technologies will appear in the near future?
We will likely see advancement in content realism and in the number of people that can simultaneously participate in a virtual environment, reduction in size of wearable devices and evolution of AR glasses (that will open up to whole new opportunities), and evolution of Blockchain protocols that are now still in their infancy (slow in processing transactions and energy consuming)
How can the Metaverse be used in Marketing?
Marketing people are looking to advertise in social virtual worlds with engaging activations, to find effective ways to speak with a target otherwise difficult to reach: gen alpha and gen Z. Last year this marketing activation was called in game advertising, now it’s in metaverse activations, but it’s really still the same thing. Some companies are focused on making money by selling “in the metaverse”: think of fashion and luxury brands launching their NFT virtual collectible items to expand their revenue streams with new product lines…. It might soon turn into a real business, yet now these are pure marketing actions. Also, AR filters are very effective activations - they are not “metaverse” in strict sense, but AR is an enabling tech of the new paradigm, so they can be seen as baby steps in that direction by companies, just like virtual tours and showrooms.
What do you know about Bucharest Tech Week and Romania?
I am sure that Romania is a beautiful country, full of wonderful people with many future opportunities in the Metaverse. I am looking forward to visiting it.