One day you wake up and you hear about the Metaverse from everywhere. More and more people are moving towards virtual reality. Acquaintances, friends of friends, and even your grandmother sit at home and look at the 3D news anchor avatar. What to do? Time is lost, you are trying to catch up, but nothing happens.
What steps should be taken now to prevent this from happening in the future? Where does the path to Metaworld begin? Do you need a team or can you develop a virtual office yourself? Who will create an avatar and how much will it cost? Vladimir aka Lado Okhotnikov will tell us about that.
Lado is the owner and CEO of Meta Force (and CEO of Forsage in the past). Lado Okhotnikov is a person with a comprehensive view of the future. His attention to cryptocurrency comes primarily from his belief that innovation can change the world for the better.
The entrepreneurial spirit of Vladimir Okhotnikov and the ability to find opportunities even in the most difficult situations inspired many of us. Lado is not afraid to go ahead, develop new ideas and implement them. Vast experience and expertise make him a valuable source of knowledge for the entire community of cryptocurrency enthusiasts.
And these are not just loud words, because Vladimir has implemented several successful projects, among which the platform Meta Force took an important place. Therefore, it is very useful for us to know his opinion on today’s topic.
Immersiveness
Banks don’t like bitcoin. Taxi drivers hate Uber. AirBnB interferes with hotels, and Amazon bothers stores. The Metaverse will obviously not appeal to offline businesses and those who do not see prospects or do not want to do so.
We will go against the crowd and tell you what you need to consider in order not to lose the virtual race in 5 years. But before that, let’s figure out how much it will cost.
I will say right away that you don’t need fancy virtual reality glasses to access the open Metaverse. An ordinary computer or laptop will be enough. And you will be able to enter the prosperous Metaworld, where business and enterprises are already developing with might and main, and experience is being gained in communicating with millions of digital clones.
To give you an idea, in Asia, people spend more than 8 hours a day on the Internet, which is half the time they are awake.
And if at any point you think the Metaverse is a farce, NFT sales in the video game industry exceeded $10 billion last year. At the same time, people mostly bought things that are not so important in everyday life. Things that made the virtual personality more beautiful.
Collectibles lead among NFT purchases
Solution found. Lado Okhotnikov knows how to take business to the next level
Web3 has been called the “Internet of Property” where things become key to prosperity.
Yat Siu, entrepreneur and co-founder of Animoca Brands, a Hong Kong-based gaming software company, believes that the “open Metaverse” – decentralized, called Web3 – has become the foundation for the development of personal digital things.
Countries like the US and Canada that enjoy their own property rights have high GDP and strong entrepreneurial activity. Countries with strong property rights have a correspondingly much higher degree of freedom.
The Metaverse that is being created right now is pursuing an idea and a practice that involves all people, regardless of religion or nation. I wrote about this in the article “Metauniverse by Lado Okhotnikov: a new level of communication”.
Creating an environment where no one looks at race, gender and age is the Holy Grail of Metaworld. In an inclusive society everyone has a chance to express themselves, learn, work and interact with each other.
Divide and conquer
“Digital goods were sold for $24 billion last year. Most of it went to the owners of these NFTs, while platforms like Spotify earned the rest.”
Vladimir Okhotnikov
In view of this, I conditionally divided Metaworld’s projects into two categories. The first included finished products and I will talk about them later, since it will take less time to explain this concept.
In the second category I defined projects created from scratch, that is, those that have gone through pre-production, creative development and production.
Pre-production is a common stage for any product, whether it is the creation of a website or a video. It defines goals and objectives, and only then develops a strategy, creative concept and marketing plan.
Next comes creative development. It includes creative thinking work. Here the main task is to get a unique solution using the capabilities of different Metaverses and various types of content.
If we have a clear understanding of what we want to create, we move on to the next step – production. At this stage a team of designers and architects is included in the work. They work on the visual aspects of the project, determine its style and create design concepts.
After that, developers who create interactive elements are included in the work. Let’s say you have a learning platform, and you want users to be able to interact with learning materials, ask questions, and communicate with teachers in addition to simply listening to lectures. Therefore, programmers are indispensable.
The testers are equally important. In the development of any product in the Metaverse, this is an integral part of the process. It can be especially critical for events. For example, any event consists of a script, a speaker and, possibly, other performers. Events like this often require a lot of rehearsal and practice to ensure a successful run.
After testing and rehearsals, post-production follows – marketing, PR, holding the event itself and creating accompanying materials.
Cases
Meta Force doesn’t just create a roadmap. We are clearly following the milestones and the current roadmap looks impressive, with many more elements to be added to it.
Now we are actively preparing for the launch of the Metaverse, where everyone can become an architect. I will show a teaser in which I am a speaker:
https://www.youtube.com/watch?v=FWBRekCBbSo
At this stage of working with the art director and architect we focused on the development. The creation of the board and subsequent rendering allowed us to step by step translate abstract ideas into a concrete 3D model and architectural elements.
For architecture, various options were developed, showing how the interior should look inside and what elements it will consist of.
Then they drew me and made some edits that made me alive and interesting.
As for the timing, the creation of even such a small project took time. The duration may vary depending on the complexity and volume: from one week to one month at the pre-production stage and from one week to one month at the post-production stage.
In general, the minimum time to create a finished project is about one month, and the maximum is about four months.
And if somebody promised you to do it faster, then, most likely, you will see something like this as a result:
Terrifying Zuckerberg in front of the virtual Eiffel Tower
or like this:
Uncomplicated forms repel from the Metaverses
Now I hope you understand that faster does not mean better? After all, the process of creating the architecture of the Metaverse really requires the competence and participation of professionals.
How much?
The initial cost of a project within the Metaverses is 30-40 thousand dollars and may vary. This cost includes the development of the location, the holding of the event and support.
Let’s move on to the second category, prices for which start at 70-80 thousand dollars. These are already large and full-fledged projects that require several months of preparation. These include multiple zones, marketing support and delification.
- In the context of the Metaverses, delification means the creation of an interactive environment where real objects, events or ideas take on a digital form and allow users to interact with them in the Metaworld. For example, in reality, you have a dog Pete and you also want it to be with you at a meeting with friends in virtual reality.
Here is a small estimate of the projects’ cost. Keep in mind that we do not know the exact figures but based on experience and understanding of the specifics, we roughly understand the budget.
The first project includes in the price category from 30,000 dollars. It presents a modern space with high-quality 3D models of equipment.
The Meon showroom on the Martech3d platform attracted 15,000 additional users.
The next case is EloLounge, the cost of which is around 70 thousand dollars. Here, five separate zones have been developed, united by a common location. The virtual showroom highlights the benefits of a mobile experience with a trade show experience.
Elobau is a pioneering ECG company with its own virtual showroom
According to showroom owners, every dollar spent returns about half the price. That is, the ROI ratio is about 150%, which is quite good for a topic that is in its infancy.
Are there ready-made solutions?
The magic of ready-made solutions is that the location not creates from scratch and you do not waste time on development and graphic design.
This is convenient when you need to urgently hold, for example, a conference, and the deadlines are very tight. Then, ready-made projects select from the catalog which undergo a simple adaptation.
The second popular service is a picture gallery or a place where product information presents. An audio guide also creates there, which activates when the user moves through different zones.
And, perhaps, the most interesting is a ready-made solution for a wedding. A beautiful virtual location that allows you to hold wedding events.
The capitalization of the Metaverses will grow to the level of Japan’s GDP
McKinsey & Company, a strategic management consulting firm, has estimated that within 10 years, the total value of the Metaverses will exceed $5 trillion.
At this moment more than half of our usual activity will go into the virtual plane, which will entail radical changes in various areas of life.
Education, shopping, fitness and medicine will compete on a whole new level. This will create huge opportunities for innovation and business model transformation.
As the Metaverse evolves, it will be critical to be able to adapt and remain flexible in this rapidly changing world. Companies that can successfully integrate virtual reality into business processes and can provide customers with unique and valuable virtual experiences will have an advantage in the market.