Orient Magazine Issue 87 - June 2022 - Page 40

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41 Discover the Difference DE T U DO R P UN ONS M DUCKS EARLY YEARS PROGRAMME This is how the metaverse might be monetized This article was originally published by World Economic Forum A dual-language environment where every class is taught by at least one native English-speaking teacher and one native Mandarin- speaking teacher. The DUCKS specialist teacher programme allows children to excel and meet their own curriculum like music, sport, drama and art. Forest School provides real world learning and problem-solving opportunities to young children in a natural environment. We focus on developing with a zest for life and a love of learning, to fully achieve their academic potential. If the metaverse is less of a product and more of a framework for human interaction, it is practical to look at metaverse monetization Experts believe the metaverse will signify the next step in our digital evolution, bringing new risks and opportunities alongside new soft- and hardware. Experiences instead of technology will play a huge role in how we understand the metaverse and what business models can be created within it. But doing business in the metaverse won't be simple – questions of how to regulate it are already arising today. singapore.dulwich.org admissions.singapore@dulwich.org (65) 6890 1003 LIVE When Meta Platforms announced its rebranding and repositioning towards the metaverse, in October 2021, the reaction in the business community was confusing. Interest in ‘metaverse’ – a term limited to tech circles for the best part of the year – exploded, with executives at dating companies, cryptocurrency exchanges and a professional wrestling brand among the many claiming to be building the metaverse, have a strategy for engaging with it – or, in some cases, both. is also illuminating. First, because it tells us something about what metaverse evangelists think it represents. To this group, the belief that the metaverse will become a significant part of the world economy – transforming business and social life on a level comparable to the internet – is only strengthened by the diverse range of companies rushing to be part of the clamour. At the same time, it highlights the influence that major technology companies have on the internet today, and how that influence could transpose itself to the metaverse. Critics of these companies argue that they are responsible for “walled gardens” distinct, closed ecosystems that shape the content and business models around online behaviour – which must avoid being replicated or reinforced in the metaverse. The fact that so many companies felt Given that the metaverse is still mostly conceptual, this is forgivable, but the lack of clarity Dulwich College (Singapore) CPE Registration Number: 201027137D. Period of Registration: 09 January 2020 to 08 January 2024. School Location: 71 Bukit Batok West Avenue 8, Singapore, 658966 THIS IS HOW THE METAVERSE MIGHT BE MONETIZED it necessary to explain their relevance to Meta’s new corporate strategy suggests that, for better or worse, the influence is more than a subjective perception. Regardless, contextualizing the opportunities and risks with reference to the internet is no coincidence. Experts believe that the metaverse will become the next major computing platform, causing an evolutionary step- change in hardware, software and experiences. XR will create the metaverse – but can’t sustain it This is the incentive for so many companies to build the virtual environments that the metaverse will depend on. They are likely to be based in “extended reality” (XR) – the combination of augmented, virtual and mixed reality technologies. Universal access is essential if the