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Metaverse & the future of TV Industry




What is metaverse?

  • The term “metaverse” was first coined in Neal Stephenson’s 1992 sci-fi novel, Snow Crash, as a concept that blends digital and physical existence.

  • It typically used to describe the concept of a future iteration of the internet, made up of persistent, shared, 3D virtual spaces linked into a perceived virtual universe.

 Some key characteristics

  • Span the physical and virtual worlds

  • Contain a fully fledged economy

  • Offer “unprecedented interoperability”


  ​What does it mean for TV?

  • The metaverse is expected to create huge opportunities for TV brands and properties, and in turn extending their online presence to reach more diverse and engaged audiences.

  • Example: Fox’s new talent show Alter Ego where singers become the stars, they’ve always wanted to be through their dream avatar.

 Brands are catching on

  • Brands such as Gucci and NYX Cosmetics are already incorporating metaverse experiences in their products and events.

  • For example, Gucci created a pair of virtual sneakers that can be worn on Instagram using AR filters, as well as in Decentraland and Roblox.

​ Challenges and future outlook

  • There is still a long way to go before mass adoption, and some of the challenges along the way will include technological capabilities, closed walled systems, IP issues and law frameworks issues.

  • However, corporations are starting to recognize the potential of the metaverse and are making efforts to be ready for it.

  • An example is Facebook, which recently announced changing its name to “Meta” as part of a rebrand meant to highlight the company’s new focus on the metaverse.

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