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Metaverse: will 5G make it a reality?

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Mexico City, August 16, 2022. The metaverse is the union of the Internet, eCommerce and social networks, which adds a layer of digital immersion to the reality we know. The new 5G network will be one of the main drivers to massify the metaverse thanks to its speed and low latency, and to define exactly what it is and how it works, Oriana Nan and Carlos Alcocer, Co-founders of Shake Lab and experts on the subject, met with Nicole Rodríguez, Vice President and Chief Technology Officer at AT&T Mexico, and Anderson Ramires, Lead Partner of TMT & Digital Services at PwC Mexico, for a coffee in the metaverse.

Highlights of this conversation include:

• Although the main device to enter the metaverse are augmented reality viewers, the trend is that fewer and fewer of them are required.

• One of the characteristics of the metaverse is the form of interaction: through an avatar, that is, a representation of how we want other people to see us.

 Another characteristic of these spaces is interoperability: there is not only one metaverse, there are several and the user can take their avatars or virtual accessories between them. 

There are two types of metaverse: 

1.- Centralized: such as Meta, which has its own rules and determines how to interact within it.

2.- Decentralized: based on blockchain, those who participate make the decisions for the rules of coexistence within it.

According to different projections, the metaverse will impact our way of working and also our daily lives:

At work: the pandemic brought us closer to new ways of living together virtually and that will transform and take advantage of in the metaverse. On the other hand, businesses will be able to carry out marketing campaigns designed specifically for this space. 

According to PwC’s Global Entertainment & Media Outlook 2022-2026, content creation in the metaverse will generate revenue of $3 million.

According to Oriana, it is estimated that by 2030 the market value of the metaverse will be 5 trillion dollars, which is equivalent to the economy of Japan.

In people: Fitness apps are starting to become popular with users and it will be a natural transition to digital workspaces. One of the biggest opportunities that consumer brands will have will be the transformation of the customer experience.

In the metaverse we will also own assets, such as Non Fungible Tokens (NFT), a digital asset with monetary value protected by blockchain. 

NFTs are a valuable opportunity to create new job opportunities, for example virtual clothing designers for the metaverse.

The metaverse has great educational opportunities. According to a study in which a group was divided into two, where the first learned a topic in a traditional way and the other through the metaverse, the second group obtained a 30% higher result when applying a test on about the topic. 

The sensory factor makes it possible to translate an experience learned by heart into an experiential experience.

Two factors are needed for the metaverse to reach society en masse: the 5G network, which will make it possible to take advantage of the entire immersive experience thanks to speed, bandwidth and latency; and also, accessible devices and within reach.Rights Reserved © The Capital