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The Technologies That Could Make Up the Metaverse – BRINK

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Attendees explore an installation at TED2018 — The Age of Amazement. Central to the concept of the metaverse is the idea that virtual 3D environments will become the transformative medium for social and business engagement.
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If you’re interested in technology, you’ve probably heard the buzzword of the moment — “metaverse.” The hype around this term may have reached its zenith Thursday, when Facebook announced that it was renaming its portfolio of companies “Meta” to align its businesses with its ambition to build the metaverse.
The metaverse doesn’t exist — at least not yet. As of today, there isn’t anything that could legitimately be identified as a metaverse. A useful parallel for understanding its maturity — with a hat-tip to technology analyst Benedict Evans for the reference — may be the story of when telecoms entrepreneur Craig McCaw first heard about the internet.
Reputedly, it was Apple Chief Executive Steve Jobs who described the implications that a globally distributed network of interconnected computers could have on communications, commerce and information. When Jobs had finished, McCaw’s reaction was: “Let’s buy it!”
Just as you can’t invest in the internet, so, too, can you not identify the metaverse as a unique product, technology or service. A better question might be: what could become the metaverse?
Technologists would answer that the internet will eventually evolve into the metaverse, which will come to represent the next major computing platform. If the concept can be actualized, it is expected to be as transformative to society and industry as the mobile phone.
The internet today is often the main entry point for millions of us to access information and services, communicate and socialize with each other, sell goods, and entertain ourselves. The metaverse is predicted to replicate this value proposition — with the main difference being that distinction between being offline and online will be much harder to delineate.
The metaverse is also expected to have a strong connection with the real-world economy — and eventually become an extension of it.
This could manifest itself in several ways, but many experts believe that “extended reality” (XR) — the combination of augmented, virtual and mixed reality — will play an important role. Central to the concept of the metaverse is the idea that virtual, 3D environments that are accessible and interactive in real time will become the transformative medium for social and business engagement. If they are to become practical, these environments will be dependent on widespread adoption of extended reality.
Until now, XR technologies have mostly been limited to a subset of video games and niche enterprise applications. However, as games increasingly become platforms for social experiences, the likelihood increases that their characteristics — discoverable and continuous virtual worlds, mediums for open and creative expression, and conduits for pop culture — can and will be applied to other contexts.
The metaverse is also expected to have a strong connection with the real-world economy — and eventually become an extension of it. In other words, the metaverse must have the ability for companies and individuals to participate in economic activity in the same way they do today. Simply put, this means being able to build, trade and invest in products, goods and services.
To a certain extent, this may rely on non-fungible tokens (NFTs) as the foundation for value creation. A NFT is a claim of ownership for a unique, non-interchangeable digital asset that is stored on a blockchain. If NFTs become a commonly adopted tool for trading such goods, they could help accelerate the use of XR ecosystems as places people go to combine elements of the digital economy with their offline lives.

One way to think of this process is how the App Store encouraged businesses to digitize their operations, so that consumers could experience (and pay for) their products and services from any location. This legitimized the idea that retail and digital need not be separate, paving the way for a whole host of use cases that might not initially have made sense.
For example, it is plausible that Peloton, a company producing exercise equipment and video-streamed fitness classes, would not exist without the App Store. Without a widely adopted medium for digital consumer experiences, a service literally grounded in physical activity would have a weak business case for going online.
A successful vision of the metaverse sees transformations like these taking place at an accelerated pace and universal scale.
If all this explains the foundations of the metaverse, it unfortunately cannot predict exactly what it will look like. Indeed, we’re still in the conceptual stage of the metaverse.
However, investor Matthew Ball identifies seven core attributes which may help curious minds imagine how it could take shape. These include its persistence (no obvious “on” or “off” to access), synchronicity (existing in real-time) and interoperability, as well being populated by content and experiences by both individuals and businesses.
There are of course questions about what the metaverse will mean for privacy, whether it will be inclusive, and how to mitigate harmful content and environments that could be created. Because the metaverse is in the early phases of development, there is an opportunity now to build in these attributes by design.
The idea of the metaverse may sound promising, which is why many of the world’s leading technology companies are investing in its development. If it can come to fruition, it is conceivable that it will transform consumer and enterprise behavior.
This article originally appeared on the World Economic Forum blog.
Stefan Brambilla Hall is Project Lead, Media, Entertainment and Culture at the World Economic Forum. He is responsible for projects relating to the creative economy, and leads research into the impact of digital technologies on this sector. Stefan has contributed to several of the World Economic Forum’s flagship reports, including The Global Risks Report, The Inclusive Growth and Development Report and the Outlook on the Global Agenda.
Cathy is the Head of Media, Entertainment and Information Industries at the World Economic Forum since 2018. She was previously Partner at GroupM, WPP’s media investment arm. She was with WPP from 2005 in various leadership positions across the vast portfolio of the WPP’s business including digital media buying, data and analytics, content, strategic consulting and financial communications in London, New York and Beijing.

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BlackRock digs further into crypto with metaverse ETF – FinanceFeeds

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BlackRock digs further into crypto with metaverse ETF  FinanceFeeds
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Money Laundering via Metaverse, DeFi, NFTs Targeted by EU Lawmakers’ Latest Draft – CoinDesk

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Lamina1 Presents Inaugural “Open Metaverse Conference” Connecting the Worlds of Blockchain and the Metaverse for a Next-Gen Internet – Business Wire

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Featuring a keynote from co-founder and futurist Neal Stephenson, the first-of-its-kind event aims to empower creators and coders to build the Open Metaverse together
LOS ANGELES–(BUSINESS WIRE)–Lamina1, a Layer 1 blockchain optimized for the Open Metaverse, today announced its role as founding sponsor of the Open Metaverse Conference, a first-of-its-kind industry event bringing together the worlds of the Metaverse and Web3 to build a more open and immersive Internet. The two-day conference will take place from February 8-9, 2023 in Los Angeles, California, and will gather experts and builders spanning Metaverse experiences, Web3, and entertainment.

Co-founded by Neal Stephenson, renowned futurist and science fiction author who originally coined the term “Metaverse,” and cryptocurrency pioneer Peter Vessenes, founder of the first VC-backed Bitcoin company, Lamina1 will provide the infrastructure to empower rapid expansion of the Open Metaverse. As the founding sponsor of the Open Metaverse Conference, Lamina1 will provide a forum for critical conversations around identity, privacy and interoperability, while exploring how audience engagement, creative storytelling, and the technicalities of blockchain can work hand-in-hand to make the vision of the Open Metaverse a reality.
The Open Metaverse Conference will feature keynotes from renowned technologists and storytellers who are pioneering visions for the next era of the Internet. Attendees will hear from Lamina1 co-founders Neal Stephenson and Peter Vessenes, as well as Philip Rosedale, founder of virtual world Second Life (Linden Lab) and co-founder of virtual platform High Fidelity, John Gaeta, Oscar-winning VFX pioneer (The Matrix) and CCO of character persona company Inworld AI, Cathy Hackl, Metaverse and Web3 strategist and founder of design consultancy Journey, and other industry crossover leaders to be announced. Keynote sessions will be complemented by diverse speakers and side events spanning games, art, entertainment, and commerce. To connect these key areas of culture with the technology that enables them, the Open Metaverse Conference will also facilitate technological deep dives for attendees from leaders in Web3, immersive computing, and technology standards groups. Presenting partners include the Metaverse Standards Forum, the Open Metaverse Interoperability Group, and the Open Metaverse Alliance for Web3 (OMA3), all organizations fostering interoperability.
“We are at a moment in time when developers, creatives, and producers can finally design the seamless and persistent experiences we’ve dreamed about,” said Jamil Moledina, Vice President of Games Partnerships and Media at Lamina1. “The Open Metaverse Conference will serve as the big tent for everyone who’s thinking about creating never-before-possible experiences that allow creators and consumers to enter unique virtual worlds on a level playing field.”
“OMA3 is pleased to collaborate with Lamina1 and the Open Metaverse Conference in promoting interoperability,” said Robby Yung, CEO of Animoca Brands. “OMA3 looks forward to developing talk tracks to encourage the creation of a more open and immersive internet.”
The conference will encourage interdisciplinary dialogue through debates, pitch sessions, roundtable discussions, and networking opportunities to help drive new ideas and connections.
“We felt a real sense of urgency to facilitate discussion with our colleagues and creators across the spectrum,” said Rebecca Barkin, President of Lamina1. “We know that the Open Metaverse will be built collaboratively and with a set of shared values, and we’re happy to provide this forum to address the needs of the community and to solve big problems together.”
For more information on the Open Metaverse Conference, visit www.openmetaverseconf.com.
About Open Metaverse Conference 
The Open Metaverse Conference (OMC) is an industry-first event presented by Lamina1 focused on bringing together the Metaverse and blockchain technology. The conference gathers key stakeholders spanning developers, creatives, producers, product owners, and executives to ask and address big questions around the development of a truly Open Metaverse that leverages open-source, collaborative principles and blockchain decentralization.
About Lamina1 
Lamina1 is a Layer1 blockchain optimized for the Open Metaverse. The brainchild of legendary futurist Neal Stephenson (who first conceptualized the term “Metaverse” in his 1992 best-selling novel Snow Crash) and Peter Vessenes, a foundational leader in the crypto space from the early days of Bitcoin – Lamina1 is on a mission to deliver the blockchain technology, interoperating tools, and decentralized services that will establish it as the preferred destination for creators building a more immersive Internet. It is the first provably carbon-negative blockchain in the world.
K.C. Maas
Wachsman
kc.maas@wachsman.com
K.C. Maas
Wachsman
kc.maas@wachsman.com

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