Recently, Travis Scott, an American artist, attempted a virtual concert in the Fortnite universe, which attracted more than 12 million participants. Sound like an idea straight out of a fictional novel? Well, it is, Neal Stephenson introduced the next-generation Internet powered by virtual reality in his sci-fi novel Snow Crash in 1992. It’s 2022 and tech companies have been hard at work in recent years. to make it a living, breathing reality. “Metaverse” is the latest hot topic in town. The concept refers to an Internet-based, multi-connected virtual environment that will mimic and enhance real-world experiences. With the recent buzz, one thing is clear: the metaverse is the future, and industry experts believe the industry could be worth trillions of dollars, touching every aspect of society. The creator economy, on the other hand, is one of the areas where the effects of the metaverse will be felt the earliest.
Metaverse to usher in the creator economy 2.0
The term “creator economy” has been around for a decade, but it has only recently gained popularity.
According to a report, this economy is a 50 million strong community that has managed to monetize its follower base. The creator market, encompassing the creator economy, influencer marketing, and all the startups in place, is much larger, worth $104 billion. Factors such as social media monetization, content authenticity and reliability, increased internet penetration are the variables that have led to this gold rush. As a result, there has been a significant shift of power from platforms and brands to creators, allowing them to be platform independent, empowered and transparent.
However, this notoriety is not permanent. The content landscape is changing faster than ever, the industry will need to move towards more immersive content as the metaverse takes over the internet. In the not so distant future, users will engage in real-time content that is not just passively consumed but is experiential in nature, the shift from the typical two-dimensional format will be revolutionary and rapid.
With advancements in AR and VR technology, creating such content has become easy and accessible. Thanks to advances in AI, creators can create smarter content. If the metaverse reaches its full potential, creators will collaborate with AI-assisted tools that allow them to translate high-level vision into consumable material. This can include AI-assisted movie editing, animation, or even AI-assisted music composition.
Content is ready to transform
Imagine watching a video of your favorite fashion blogger. Imagine discovering their studio and buying their wares. Likewise, travel bloggers could take their followers on virtual world tours, while educators could offer their students full-fledged classroom learning experiences.
All of these possibilities will pave the way for multi-dimensional content. Immersive content powered by AR camera interfaces will be the future. You will be able to experience the thrill, the sound, the visuals just like in real life. A new breed of AR creators will develop digital reproductions of themselves, their homes, studios and other objects to transform audience experiences into interactive and immersive ones. Creators will put on avatars to interact with their fans and create different content formats. The usual conversations of likes and comments will now turn into live, real-time comments.
The relationship between fans and creators will also take on new dimensions through these deeper and more meaningful exchanges. Metaverse parties and fan gatherings might become a thing in the near future. As the landscape evolves, multiple monetization streams will also appear. Artists can directly monetize their popularity and position in the metaverse using social tokens, and fans can support their creators in a variety of innovative ways, giving fan savings a whole new meaning.
With the advent of the era of the metaverse, a new era for content creation is also upon us. The stakes for content creators are high as they enter new waters. Every aspect of creation, whether it’s ideation, shooting, editing, must be seen from an experiential point of view. With new technologies, fans will be more deeply connected to their creators than ever before. Creators who understand how to improve their skills in their metaverse will be the ones who will succeed in the future. Skills like VR, MR, XR, AI-powered video editing, AI-assisted animation or even AI-powered music composition, computer vision, computer graphics, computational photography 3D, scene reconstruction, computer imagery will be crucial. The next era of creation has a bright future thanks to interactive and immersive content, the use of new AI capabilities and the development of better interactions with the public. So creators, get ready for the next frontier of battle, who knows, if it’s done right, you’ll also hold a concert in the metaverse, just like Travis Scott
The opinions expressed above are those of the author.
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