The Immersive Wire - 7 August 2022 (Sunday edition)

7 August 2022 //

by Tom Ffiske

Metaverse and VR/AR analysis every Wednesday and Sunday

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TOP STORYMaking money in the metaverse

It's no secret that the metaverse is seen as a $$$ opportunity for businesses. But as I write about the topic, I am conscious that it is raked by rampant fraud and misinformation, and I wanted to play no toxic part in the mire of madness. So I am taking a different approach, and touched on the right 'mindset' when tapping into the metaverse. My answer is straightforward; yes, you can make a living when it comes to the metaverse. But the discussion is corrupted by bad actors who run pyramid schemes, bringing people into the fold and shaking them for all their finances until the last cryptopennies drop out. At the same time, I do believe that the metaverse will shape the way we interact online in the future.Instead of ploughing life savings into altcoins, there are a variety of skills that can be learned, all with a cautious eye on the market. With small and iterative steps, the metaverse becomes a golden opportunity for entrepreneurial and curious professionals. In summary: 

1. Identify opportunities with genuine value

2. Do not be fooled by the hype

3. Speak to the community

4. Learn immersive tools

Reads the full (careful) analysis.

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The Economist's Metaverse Summit 2022 will help senior leaders define and build mixed-reality experiences that will add economic and social value. The event will take place on October 26-27th, consisting of an in-person experience on October 26th in San Jose and one day in the metaverse on October 27th. Be in the room where enterprises will build a better Web3 future and understand where the metaverse meets NFTs, gaming, crypto and blockchain to create value.  Register for free. 

Q&ANever over-engineer

Eran Galil, CTO and co-founder, ByondXR.  

What is your background?I started from being a computer geek programming at very early age, enjoying the creations. Later on while working on that went on studying more general degrees – in management and Cinema/Television studies liking the breadth of people and methods of learning. 

I’m working in the professional Hi-Tech industry for almost 30 years in various roles – mainly technology and people management – as R&D, Product. Worked in various company sizes from smallest startup to biggest enterprises like HP and Kodak. Always had passion for technology, but not as a thing of itself – but as a tool for performing tasks, building things and bringing real value. Always had an attraction to analytics and numbers – measuring the value of a business, providing hidden insights or just letting you know if the organization is on the right way. What are you working on, and what’s a key learning that you’ve had from it?In ByondXR, my recent venture – I’m acting as a CTO, but in a sense also acting as COO. I don’t just envision the new directions – I also make sure that the organization executes it and this way I stay very close to the processes & customers – seeing if our solutions and Tech really brings them the value we’re planning.Recently we’re investing in spreading the word – letting more and more customers and partners onboard our Software – making it simpler and more friendly to be used by bigger crowds. We’re thinking all the time how to take evolving complex Metaverse-like worlds (Horizons, Fortnite, Decentraland, Roblox and more) – and make the easily accessible for brand. Since they are all evolving and changing all time – we try to predict where they will go tech-wise and where our users will be in order to plan our resources right. Our key learnings were that we should help our brands perform well in every environment. Sometimes its better to have a simpler experience – but let them full visibility and ability to change, evolve and optimize it – and that can be WAY better then giving them a ping impressive elephant to stand in the middle of the room (or website) – and not be sure of what to do with it. Novelty of new things can take a brand only to certain distance, after that you need to demonstrate long-lasting repetitive value. And measurable one. If you had to give one piece of advice, what would you give? Don’t over-engineer. We’ve seen brands investing in the visibility of their stores so much, thinking it’s going to be visible like a physicial store. Forgetting that the mobile phone medium has different rules and that key point is how to keep the masses with inherent ADHD still focused and interested in more than 30 seconds. We keep educating brands that less is more and virtual store has its own rules – but it sometimes takes time to understand. It’s part of the treats of being in the forefront of technology and paving new UI/UX methods – its exciting as it is sometimes frustrating to explain new tricks to people who learnt all the tricks but on a completely different circus.If you want to know more about Eran Galil - then click here to find out more.

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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!