This could be one of the most important videos you watch all year. And it's important because
it's something that could shape the future of the global economy. Understanding it now gives you a
head start and may also help for when it comes to identifying potential trading opportunities
there's a new technology that's touted to change the way we live forever imagine you put on your
glasses or headset and you're instantly in your home space the internet will end as we know
and it will totally reshape the global economy facebook is betting 10 billion dollars and its
future on it together we can finally put people at the center of our technology
and deliver an experience when we are present with each other
other tech giants like microsoft apple and nvidia are also banking on this being the next big thing
challenge us with new ways of seeing a limitless 3d digital world running parallel to ours
but if you thought this might just be a passing fad you might be able to ignore it you better
think again its market value is predicted to be over 800 billion dollars by 2025.
but its supporters reckon it has the potential to hold the majority of all the wealth in the
world and early investors are already piling in welcome to the future of the internet
and people haven't really figured this out yet but again it's going to be an enormous generator
of wealth but this isn't just a futuristic vision out of sci-fi films like ready player one
it's an inevitability it's happening already and it's growing
this is the dimension of imagination this is the metaverse
and this is how it could change the world
april 2020 the height of the covid19 pandemic the entertainment industry was decimated concerts are
cancelled it's easy to see why the music industry has been singing the blues during this pandemic
several shows are on hold right now at least in the so-called real world but there was one
concert that attracted a larger crowd than the 20 biggest gigs of all time combined where's travis
fans entered the video game fortnite as avatars
and got up close to rap legend travis scott performing live
the best sold traffic physical event could hold 180 000 people while the
fortnite equivalent held 11 million people the show was magically done was fully immersive
just like in the real world festival goers went to great lengths to stand out from the crowd
buying so-called skins for their avatars
along with other digital merchandise the music star netted a reported 20 million dollars
it's rewards like this that have got the tech giants excited the rebranding of facebook
and its stable of companies including instagram and whatsapp is a bid to put it
at the center of this revolution our company is now meta we're going to talk about the future
starting with the most important experience of all connecting with people in this slightly awkward
video mark zuckerberg provided a glimpse of what the metaverse could look like it was you know a
bit too produced i would say mark zuckerberg the choice of clothes was a bit traditional i think
in the metaverse there is much more space to explore creativity and self-expression
whoa we're floating in space who made this place it's awesome zuckerberg's vision is that people
will be completely immersed in the metaverse through virtual reality headsets and smart glasses
leading the headset market is oculus owned by you guessed it facebook i mean meta oh you know
who i mean the metaverse is something that it's in everyone's mouth at the moment i mean the
question is what is the metabolism think of it as the next generation internet picture the web
as 2d like a load of city blocks platforms like twitter and facebook where everyone's crammed in
the metaverse is a 3d evolution of this but it works differently it's created all around
us where everything is interlinked it's built on blockchain technology think of it more like
a fleet of high-speed cabs bursting out of the city on an endless omnidirectional superhighway
when internet started some people knew about it and as of somebody we all were using it
and we are exactly at that moment with what we call web 3.0 or metaverse and i believe that by
2025 is just part of our lives and whereas on websites and social media your is reduced to
an uninspiring username or thumbnail image in the metaverse as imagined in ready player one you're a
customizable avatar yeah that's me well that's my avatar at least until i feel like changing
you can be anything you want in the metaverse you can start a new identity from scratch it
doesn't really matter who you are in real life but don't expect a single eureka to kick things off
the metaverse is constantly evolving there are fragments already all around us the
gaming industry is an early adopter of what the metaverse could look like it's 3d it's immersive
the fact that you can earn the fact that it can play the fact that there are micro economies
from second life to minecraft roblox and fortnite the experience of living
shopping selling and earning in digital worlds has been around for decades
oh i got a rainbow beer but this is embryonic it's dial-up internet compared
to high-speed fibre-optic broadband it's a zx spectrum compared to the playstation 5.
the games that we're familiar with they aren't really meta verses and it really comes down to one
factor they're not interoperable what that means is that if you buy something in a specific game
you can't really use it in a different part of the metaverse the real prize that a fully
formed metaverse has to offer is an entirely new digital economy that's decentralized
a new breed of games are already demonstrating how this will work this endless is probably the first
example of a truly decentralized social community in the metaverse you can own things you can buy
you can trade you can meet up there is no company behind it it's owned by the community and the
go-to currency is eth because most of these new world games are built on the ethereum blockchain
with this and other cryptos players can pay for digital products in what is fast becoming
an entirely new economy the christie's auction for digital artist people coming to a close a
few moments ago final sale price 69.3 million dollars that's more than most picassos monets or
warhol's the trading in digital collectibles via nfts will be key to the economy of the metaverse
an nft or non-fungible token is something that can be bought
with cryptocurrency it's basically a piece of code proving that you own a certain digital
asset securing its authenticity and scarcity this doesn't have to be art it could be real estate
music clothing entertainment anything that can be represented digitally this nft sits
on a blockchain and can be bought and sold in an online marketplace
tech savvy celebs about getting in on the act
quentin tarantino is auctioning off seven uncut scenes from his iconic movie pulp fiction
on the nft marketplace open c this is a tasty burger some nfts can be tied to items
in the real world mila kunis's new animated tv show is fully nft funded as she told conan o'brien
in quarantine some people stick up baking and knitting and i deep dived into crypto and nft
the nft you buy gives you ownership of a digital image of one of the cats which can be used as
a ticket to watch the tv show keeping in with the metaverse in crowd the film star
even got ethereum creator vitalik buterin to voice one of the cats nfts are increasingly everywhere
even making waves on the catwalk leading the way is dutch fashion labelled the fabricant
they don't weave or so they make digital only garments for avatars in the metaverse
sold as that's right nfts yourself in the digital realm is going to be as important or even more
important than in the physical life you can go completely crazy in your own identity curation
you can wear a fire jacket without getting burned
you can be a dinosaur for a day it's no wonder that big clothing names are following suit
nike is getting in on the nft craze filing several trademarks for virtual goods the future of fashion
will be digital only fashion we're going to have a very small physical wardrobe because our fashion
is going to be augmented in our lives but nfts aren't the only way to make money in the metaverse
the philippines imposed one of the world's longest lockdowns but it led to one of the country's worst
economic recessions with unemployment at around 17 percent people have been forced to find
more creative ways of paying the bills they flock to playing axi a game where players can make money
the most inspiring thing is the fact that the same people where society failed were able to make a
living that was even bigger salary wise than they were in the real world some gamers are reportedly
earning between five to eight hundred dollars a month from battling and trading axi characters
that's double the national living wage in the philippines
it democratizes the world we now don't have to travel anymore there is really a
global playing field where people can earn money no matter where they are
covid has transformed away the vast majority of people in their work doing our jobs on zoom
and google meet has become as comfortable as the pajamas we wear during the working day now
in the metaverse this will be super sized and i don't just mean better pajamas my job involves a
lot of traveling in the future i could see myself going from london to australia to singapore all in
one go within a couple of hours just by switching rooms in the metaverse it's just blowing mind
blowing to me and in this future school's out at least as we know it the structure of
education has barely changed in centuries but in the metaverse classrooms could look very different
let's take a closer look what part of the solar system are we talking about saturn
if you're studying about the roman empire and you can be in the roman empire the absorption
of that information is going to be much higher i don't know if my kids in the future
will attend the university or will just go from different metaverse to metaverse to try and learn
what they need for this new world crucially the same quality of education could be available to
every human on the planet so what's it going to take for mass adoption in the metaverse
it can only really materialize when three things happen software hardware and demand
demand wise we're definitely ready for the metaverse if you just look at the gamers
we've got about 3.2 billion gamers in the world the gaming industry also provides the backbone
of metaverse software such as fortnite's unreal engine or the unity engine that powers pokemon go
so what about the hardware from a hardware perspective i don't think we are quite there
yet we need it to be seamless i don't want to wear big goggles and run around in my living
room with those i want something that doesn't intrude my day to day but metaverse ready smart
glasses are coming down the track at speed yeah be prepared this is going to be the new reality
not difficult not physical but digital we're going to be living enhanced digital lives and
it's transformational and it's coming the thing is though that anyone who's seen the classic
film the matrix knows digital utopias don't always work out get me the hell out of here
welcome to the real world is it possible just possible that we should be a touch wearing
about the metaverse if we're spending all of our time online there's a social disconnect we learn
so much by interacting with other humans and this may have a massive impact on mental health
but there's no getting away from the fact this is mind-blowing technology that whether
you like it or not will change the way people interact communicate work and socialize i've
just taken a photograph with a thought process this is incredible in the next decade alternate
reality will become our new reality our next one will explain how you can trade and invest in the
growth of the meta bus hit the subscribe button to make sure you're alerted when it lands in the
meantime you can download the capital.com trading app by using the qr code thanks for watching
you