The Immersive Wire - 21 November 2021 (Sunday edition)

By Tom FfiskeVR/AR and metaverse analysis every Wednesday and Sunday

// 21 November 2021

I thank Matthew Ball for contributing to the below piece. Also, Last Night in Soho was excellent; some of the acting raised question marks, but otherwise it is Edgar Wright doing what he does best.

IMVERSE Holo software for LIVE volumetric video capture

TOP STORIESExploring NFTs and the metaverse (feat. Matthew Ball)

If you scan the media, you would think that thousands of companies are building their own products and services for the metaverse, from large-scale development from Meta to bite-sized services from smaller start-ups. A typhoon of business ideas whizz through Twitter, and VCs are seeing an influx of companies taping in the word ‘metaverse’ in their marketing materials. Some of these are legitimate, but most are jumping on the hype train and hoping for the best. The situation reminds me of the blockchain hype of 2017; companies shoved blockchain into their services in the hopes of raising more capital for their business, buoyed by the emerging tech trends. Inevitably, most start-ups failed to live up to their own promises.We will see the same with the metaverse, but perhaps to a more severe degree. The blockchain has tangible benefits and had already been created, with self-evident benefits that people can see and – for the affluent few – able to engage with. But the metaverse doesn’t even exist yet, with a myriad of differing definitions and companies who are working within their own versions of the metaverse. The mish-mash of approaches is leading to confusion, particularly in the public eye where they are only just learning about the topic. So when we consider how NFTs and the metaverse can work together – two of the most emergent trends of 2021 – then we enter a collective mess of opinions and speculation. Predicting its trajectory and form is like wondering what the next ten years will look like; fuzzy and ill-defined, with a lot of guesses along the way. But what is reasonably clear is that, while the underpinning technology is strong, we still have a long way to go before it is viable and trustworthy enough for wider use.Rampant cases of fraud, lack of environmental credentials, and overvaluation of items have led to a bloated NFT space that is surfing up the Gartner Hype Curve before tumbling into the Trough of Disillusionment. But once solved, NFTs provide a firm bedrock for how financial transactions can happen in a potential metaverse.Read the full analysis.

The aLIVE METAverse is here!

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That's all for this week! Want to have a chat, let me know about a news story, or talk business? Either reply to this email, or contact tom (at) immersivewire (dot) com. Have an excellent day!