MetaVSummit and the Impact of Metaverse on Broadcast Television
- Spencer Blanchard
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The goal of the MetaVSummit is to bring together investors and companies from the Metaverse and Web 3.0 to foster business relationships.The event is currently the largest targeted investment event for the web 3.0 sector, indicating that the focus of the MetaVSummit is on highly targeted attendees. This is crucial because it ensures that everyone attending the event—from attendees to investors—has the intention of conducting business with one another.
They are on a two-part mission. Priority one for MetaVSummit is teaching the public about Web 3.0 and how its components (Blockchain, Virtual Reality, NFTs, and AI) will fundamentally alter how we communicate in the years to come. Second, their goal is to provide a dedicated space where founders, investors, and other Web 3.0 community participants may gather and interact in order to forge profitable business relationships.
Big brands are catching on.
The metaverse experience is led by Fortnite and Roblox currently, and other companies are starting to get on the train. Gucci, an industry titan, developed a pair of virtual sneakers that users could put on using AR filters on Instagram, as well as in Decentraland (a 3D VR platform), Roblox, and other places. The creator of Crypto Fashion Week, Lady PheOnix, stated, “We know that the world is headed toward the metaverse. We are aware that in the future, everyone will have an avatar. People who desire to look good in real life also want to look good in the metaverse.”
In conjunction with the Meta Gala, NYX Professional Makeup launched its first NFT (non-fungible token) as a part of the official red carpet event, which featured virtual versions of fashion and beauty looks. Mimi Choi, a makeup artist for special effects, originally created the NYX Cosmetics look in person before using a hologram to capture it for use in a digital version and avatar. In the form of an AR filter, a digital replica of the makeup look was created as an NFT that site visitors to Meta Gala could enter to win. The cosmetics look was displayed at the fashion show while Choi was depicted digitally sporting a dress by Rebecca Minkoff.
What does this mean for television and broadcasting?
According to experts, it won’t fully materialize for another ten years, but we’re already getting a taste of what the metaverse and advancements in technology and entertainment mean for TV.
The majority of us currently engage with the metaverse via consumer-facing, interactive, and immersive virtual platforms like video games, AR and VR experiences, and social media. The social gaming industry is laying the groundwork for the convergence of online and offline experiences, providing TV brands and franchises with enormous opportunities and enabling them to expand their online presence to more engaged and diversified audiences.
The entertainment industry is a dynamic one that spans numerous fields. While experiences are only beginning to transition from offline to virtual locations, the content side of the business has been moving toward digital channels for years. This is where the metaverse will have the biggest impact in the future. Experience-focused entertainment firms can test out virtual environments that offer novel encounters thanks to metaverse.
Additionally, a fascinating ecosystem for the production, distribution, and monetization of digital content will be developed using blockchain technology and non-fungible tokens (NFTs, also known as digital tokens).
What do you think the future of the TV and Broadcast industry looks like? We’d love to hear your thoughts. Follow us on Social Media and drop us a comment.
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