December 16, 2021
My son just spent $200 on new clothes… and it all fits in his back pocket.
He bought his new threads in Roblox, the kids’ video game that’s taken the tween-set by storm. His virtual persona – or “avatar” – will wear them as my son moves through the game.
He’d been racking up his “Bloxbux” (Roblox money) thanks to his online jobs at the pizza restaurant and car-painting shop in one of Roblox’s worlds. And then, he increased his character’s crypto bank account by hitting up relatives for Roblox gift cards for his birthday. He’d saved a pretty sum and was ready to light up the town with his new stylings.
Virtual-reality-style gaming, where you can dress up an avatar in spiffy new clothes and then drive a race car, is about to become quite real… And it will mean a whole lot more than a winter wardrobe to smart investors.
Welcome to Web 3.0
Web 3.0 is about to revolutionize the tech industry and change our lives…
It’s the real reason Mark Zuckerberg changed the name of his company to “Meta”… and it’s already attracting billions of dollars in investment.
Indeed, Facebook (forgive me… Meta Platforms) promised to spend $10 billion in 2021 alone just on augmented virtual reality.
That’s on top of the $10 billion that other companies have raised with 612 deals so far this year in the online gaming, virtual reality, and augmented reality space, according to data from company insights platform Crunchbase. Epic Games, the creator of the megahit video game Fortnite, led the pack with $1 billion in funding in April 2021.
Despite this mass infusion of cash into the industry, most people have no idea what Web 3.0 means.
This is why I’m referencing Roblox as a way to help get our heads around the world that can be…
Indeed, Roblox is one of the first and most prominent examples of how the “metaverse” is about to seep into our daily lives. And if you understand this game, you’ll see how a massive emerging trend is developing… as well as the opportunities it’s creating for investors.
A World Beyond Your Computer Screen
As I wrote about last year, in Roblox, kids (and adults who are so inclined) can use their avatar, which is an icon or figure representing a particular person in video games, to buy clothes, build houses, get jobs… and even go on vacation. You can interact with other avatars… mull about town, participate in dance contests, and get invited to block parties.
So, what if you could do all that and more, in a world that was not just on your two-dimensional computer screen… but seems to exist in a physical way that you could smell and even touch?
Trippy stuff, I know. And yet, brace yourself, it’s coming… and soon.
In the coming years, we’ll soon enter a brave new world of 3D virtual reality, powered by sophisticated, super-fast semi-conductor chips, and populated with non-fungible tokens (NFTs) and blockchain technology.
Web 3.0 will totally change how we interact with our computers… and quite possibly, each other.
But you don’t need to understand the technical details to appreciate how this will change virtually every aspect of day-to-day life…
Avatars Around the Water Cooler
In the metaverse, or Web 3.0, “Zoom” calls will be so passe.
Imagine if instead of squinting at your colleagues in boxes on your screen, you could all sit together – via your avatars – in an all-encompassing virtual conference room.
Bill Gates, in his personal year-end blog post, promised last week that future corporate meetings will all happen via our avatars in the metaverse… and that this could be as little as two to three years away. (Mark Zuckerberg recently showed off a similar use with his still-limited Meta technology.)
Gates’ timeline might be a tad ambitious. But no doubt, these changes to our online office communication are coming…
I was struck by how “real” the metaverse could feel when I went with my family to Disney World’s EPCOT center. The virtual-reality ride Soarin’ Around the World blew me away: Gliding across the ocean I could feel the ocean mist on my face… I could smell the salt air… and I could hear the sea gulls in the distance. It was as though I was there.
That’s the power of this technology. This technology makes you feel like you are really there. It blurs the lines between what’s real and what’s not… and creates a never-ending continuum, similar to the world wide web… or dare I say, space itself?
Companies Preparing for the Metaverse
It is going to take a lot of advances in technology to make this all happen… We’ll be dependent on the creativity of developers and gaming companies, as well as the technology of the blockchain, and the power of the chip industry… to give birth to this Web 3.0.
But it will happen… it already is.
A new system shows which stocks could soon rise 100% thanks to a Connecticut couple’s catastrophic 401(k) loss.
Developers are being encouraged to create new worlds on platforms like Roblox, and blockchain technology is already proving to be effective at protecting ownership of goods in the metaverse…
The chip industry, in particular, is preparing for the revolution.
Chip-maker giant NVIDIA (NVDA), for example, is working on a Web 3.0 platform called Omniverse, which is a multimedia 3D collaboration platform that allows companies to collaborate in a metaverse using physically accurate “digital twins” of the product being developed or problem being simulated (like a car or factory).
Intel (INTC) is also releasing a new series of graphics processors, beginning in the first quarter of 2022, to compete in the metaverse.
Bottomline: Every tech company will play a role in helping to create a metaverse that is entirely different from the traditional two-dimensional Internet experience we’re all familiar with today.
It’s not inconceivable that homes may one day have virtual-reality “rooms” that provide sensory-like experiences similar to that Disney Epcot ride.
Love us? Hate us? Let us know how we’re doing at [email protected].
Publisher, American Consequences
With Editorial Staff
December 16, 2021