Metaverse, are you ready?

Our April iFriday was full of surprises, and we had the chance to discuss a topic as fascinating and on trend as the Metaverse. Marta Gil, Chief Strategy, Innovation, and Sustainability Officer of Sacyr, gave an original introduction to this session, by simulating a connection from the metaverse.   

A discussion about virtual reality and the metaverse followed suit, from our headquarters this time, between our guest, Yaiza Rubio, Chief Metaverse Officer of Telefónica, and Gabriel Cuervo, Director of Innovation of Sacyr. 

The metaverse has burst into our reality unexpectedly, and it brings an entire world of possibilities, of which we know but a fraction. Technology advances so quickly that we cannot grasp what these many changes entail, and how to adapt to them. Ever since Facebook became Meta, the interest for this new virtual universe has grown exponentially.

Major companies and brands have dived head-first to the race for the new virtual industry, which just comes to show that this is a technology with great business prospects for the future in the digital environment in the coming years. One of the pioneering companies in this regard was Telefónica, which has recently partnered with Meta to jointly explore new ways to promote connected and technological innovation in the metaverse.

Yaiza Rubio analyzed the evolution of the Internet from the Web 1.0 to the current Web 3.0, through which the interaction models between companies and users have changed radically: “Now, in the web 3.0, the user can read, write, and own content.  Internet users had never owned content before because it used to belong to the companies. Now, you create your Internet identity, and the content you generate around that identity belongs to you”. 

The metaverse expert also discussed decentralization as a new model: “Decentralization is being pushed nowadays because the sale of personal data by corporations is perceived as unfair, because the users receive no benefits from it and that their data is monetized by others. Decentralized platforms back all the actors involved in that value chain: users, content creators, and developers”.

During the conversation, she also discussed the NFT trend, the new collectibles that have the unique qualities of being transferable, but not fungible. These new collection models are transcending to other fields, not just art. “The music industry is also dipping its toe into NFTs by creating unique melodies that users can purchase”, explained Yaiza Rubio.

Other topics covered were Internet safety, how the virtual and the real world coexist, and what benefits the relationship between the two poses.

We are amid the revolution of how content is consumed. Everybody wants to live experiences, even if it’s virtually. The metaverse allows the user to teleport to wherever they desire and live a unique and almost real experience.

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