Metaverse. What is it? (Key word: wallet)

 

Decetraland

Milwaukee Journal Sentinel, 222022

Ahead of the Super Bowl, Miller Lite is debuting the Meta Lite Bar in the metaverse, according to a Wednesday news release. 

What is the metaverse? A January USA TODAY story described it as a combination of several technology elements, including virtual reality, augmented reality and video, where users "live" [and buy] within a digital universe. 

The bar, which was created by DDB Chicago and DDB San Francisco, will be located in the virtual world platform Decentraland. 

It’s going to look like a classic tavern and offer an "immersive, communal experience," the news release said. There will be virtual pilsners and interactive features, including darts, billiards, a stage with digital instruments, a photo booth and a jukebox.

Miller LIte is not doing this because they love us.  Just what's in our wallets.

Marketing Dive, 1/25/2022

Since 2010, Molson Coors has been unable to advertise during the big game, which took in 96.4 million viewers last year. Entering the metaverse gives Miller Lite an innovative way to participate in the sporting event. By partnering with Decentraland, Miller Lite gains access to a tentpole viewing event that it has been unable to participate in for more than a decade. Previous Miller Lite commercials included public figures such as Eddie Rabbitt, John Madden, and Rodney Dangerfield. 

Decentraland is a space where users can buy and sell virtual plots of land and other digital goods as nonfungible tokens (NFTs). In addition to Miller Lite, Decentraland has hosted other brands such as the auction and private sales company Sotheby's. Recently, Publicis worked with Samsung on a Decentraland experience as well.

Original 1/19/2022 post starts here

New York Times, 1/18/2022

What is the metaverse, anyway? 

The metaverse is the convergence of two ideas that have been around for many years: virtual reality and a digital second life. 

For decades, technologists have dreamed of an era when our virtual lives play as important a role as our physical realities. In theory, we would spend lots of time interacting with our friends and colleagues in virtual space. As a result, we would spend money there, too, on outfits and objects for our digital avatars.

 So....as far as 'technologists' are concerned, it's not enough that we spend money on ourselves for 'outfits and objects'.   Now we have to do likewise on an avatar.  

Sounds like 'metaverse' is just another way for technology companies to reach deeper into our wallets.  

But then for them it's always been about the money.