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VIRTUAL REALITY

The impact of the rise of the metaverse on brands

By our News Team | 2021

The defining quality of the metaverse will be presence – the feeling of really being there with people.

The metaverse is already here. The metaverse is a network of always-on virtual environments in which many people can interact with one another and digital objects while operating virtual representations – or avatars – of themselves. It is especially common in gaming – and now virtual concerts.

“The defining quality of the metaverse will be presence – the feeling of really being there with people… so you can remove the limitations of physics and move between them with the same ease as moving from one room in your home to the next,” according to Facebook Reality Labs’ Andrew Bosworth.

How the metaverse will impact brands

Kirsty Bisset, MD of SA-based communication agency HaveYouHeard Durban, says that while the rise of the metaverse is exciting, what still needs to be asked is what their impact on brands will be.

“For me, the current hype around metaverses feels like social media did in the early 2000s. Brands initially brushed off social media until it was impossible – and irresponsible – to ignore the importance of being involved,” she says.

“A great example here is the popularity, and huge revenues, of (interactive entertainment company) Fortnite’s virtual concerts. Businesses and brands active in virtual economies (like gaming and concerts) will naturally win within the metaverse.”

Metaverses will further democratise creativity. “But the real winners in the metaverse will be the influencers and brands that craft a virtual world that isn’t just a ‘flat’ surface. Today’s metaverses are simplified virtual items or virtual services accessible with or without Virtual Reality headsets. Successful worlds will need to offer layers through avatars, visuals and music.”

“Many brands today are digital first,” says Bisset. “Should they decide to enter the metaverse realm, they’ll need to be brave and detailed. Any metaverse built around a brand will have to deliver a user-driven engagement design and fully immersed digital experiences. Winners in the metaverse will understand all that, plus have extensive online culture, digital art and gaming experiences.”

 

Source: BusinessLive

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Dr Kin Kariisa

Group CEO - Next Media

Dr. Kin Kariisa is an extraordinary force at the helm of Next Media Services, a conglomerate encompassing NBS TV, Nile Post, Sanyuka TV, Next Radio, Salam TV, Next Communication, Next Productions, and an array of other influential enterprises. His dynamic role as Chief Executive Officer exemplifies his unwavering commitment to shaping media, business, and community landscapes.
With an esteemed academic journey, Dr. Kariisa’s accolades include an Honorary PhD in exemplary community service from the United Graduate College inTexas, an MBA from United States International University in Nairobi, Kenya, a Master’s degree in Computer Engineering from Huazong University in China, and a Bachelor’s degree in Statistics from Makerere University.
Dr. Kariisa pursued PhD research in Computer Security and Identity Management at Security of Systems Group, Radboud University in Nijmegen, Netherlands. As a dynamic educator, he has shared his expertise as a lecturer of e-Government and Information Security at both Makerere University and Radboud University.

Dr Kin did his PhD research in Computer Security and Identity Management at Security of Systems Group, Radbond University in Nigmegen, Netherlands. He previously served as a lecturer of e-Government and Information Security at Makerere University in Kampala, Uganda and Radbond University in Netherlands.

Dr Kin did his postgraduate courses in Strategic Business Management, Strategic Leadership Communication and Strategies for Leading Successful Change Initiatives at Harvard University, Boston USA.

  • Other current and previous roles played by Dr Kin Kariisa:
  • Lecturer of e-Government and Information Security to graduate students at Makerere University, Kampala and Radbond University in the Netherlands
  • Director of Eco Bank Uganda Limited, one of the largest banks in Africa
  • Chairman of the National Association of Broadcasters, an umbrella industry association for all Television, Radio and online broadcasters in Uganda.
  • Chairman of Board of Directors of Nile Hotel International, that owns the leading hotel in Uganda, Kampala Serena Hotel.
  • Chairman of Board of Directors of Soliton Telmec Uganda, the leading telecom company in Optic fibre business managing over 80% of optic fibre in Uganda.