Building a Metaverse with Revenue: Insights from Arab Meta Summit 2022 Day 2

Christopher began by explaining the challenge of defining the metaverse, comparing it to the early days of the internet when explaining its potential was abstract. Today, the metaverse is often described as a network of 3D virtual worlds, providing an immersive experience, or a "3D model of the internet.

Christopher emphasized that the metaverse introduces a new axis, fundamentally changing how we interact and experience the digital world. Unlike the internet, where users interact through flat screens, the metaverse allows for immersive 3D interactions, creating new possibilities for design, UI, and shared experiences. Users can enter virtual worlds through avatars in VR, augmented, or mixed reality, engaging with one another in ways not possible on traditional platforms like websites.

Revenue Opportunities in the Metaverse

Generating revenue in the metaverse offers exciting new opportunities. One common avenue is through NFTs and 3D assets. Similar to platforms like Shutterstock or Fotolia for images, metaverse platforms provide libraries of 3D assets. These assets can be monetized by creators, either for free or as premium content.

Christopher highlighted another important trend: companies and freelancers acting as "metaverse prescriptors" who design custom virtual spaces for clients. This partnership model fosters collaboration between brands, users, and metaverse platforms to deliver tailored experiences.

Aviva Technologies also offers a shared revenue model through its Aviva Ambassadors program, which allows companies to onboard metaverse projects from different countries, leveraging a collective approach to development.

Challenges and Future of the Metaverse

Despite the immense potential, there are challenges in metaverse adoption. The technology is still in its infancy, and user experiences vary across platforms. Additionally, issues around security, ownership, and tokenomics remain critical. Christopher suggested that while blockchain and NFTs offer promising solutions for asset ownership, careful due diligence is necessary to avoid risks associated with scams or hacks.

As the metaverse continues to evolve, inclusivity is key. Ensuring that it is accessible to a broad audience means offering not just high-end VR experiences but also accessible desktop and mobile options. The goal is to reward creators for their contributions, foster innovation, and ensure that everyone—from gamers to brands—can participate and monetize their presence in this new digital frontier.

For more details, check out the full presentation on YouTube below.