Progression of the Metaverse<\/h3>\n\n\n\n
In the past, \u201cMetaverse\u201d referred to the connection of virtual and interactive lands (achieved in virtual worlds like \u201cSecond Life\u201d). But, its modern understanding follows advancements in Virtual Reality headsets, \u201cNon-Fungible Tokens\u201d, \u201cMixed Reality\u201d and \u201cAugmented Reality\u201d technologies. These advancements portray the \u201cMetaverse\u201d as the future (and not yet existent) convergence of all sectors of virtual and human interaction. They aim to make use of real-world objects through \u201cAugmented Virtuality\u201d technologies. <\/p>\n\n\n\n
Amongst these sectors of human interaction, news sharing will most likely have a significant role in the metaverse. The tough question for publishers is \u201cwill future metaverse readers wish to learn about real-life events, or would they prefer sticking to metaverse-related news? And most importantly, how will they access this news?\u201d <\/p>\n\n\n\n
What is news like in the Metaverse?<\/h3>\n\n\n\n
Metaverse users have seen the rise of a multitude of small-sized magazines and newspapers. With about 900,000 active users, Second Life<\/strong>, created in 2003 by Linden Labs, is the longest running and most complete virtual world to date. Inside Second Life, we have seen the rise of the \u201cSecond Life Enquirer<\/a><\/strong>\u201d.<\/p>\n\n\n\n This is an online newspaper which allows virtual business owners and creators to advertise their services or products to virtual world consumers. This is done through the purchasing of advertising spots that can be turned into articles and press releases. These spots that can be acquired through payments made to \u201cadvertisement boards\u201d located in the company\u2019s virtual land, with virtual-world currency (linden dollars).<\/p>\n\n\n\n \u201cThe Maliqusition<\/strong>\u201d is another news source focused on virtual aviation news. This paper displays a more opinionated and interest-focused approach to news. The attention is placed on the promotion of personal stories and opinions, as opposed to virtual services and products. These 2 titles inside Second Life have a clear likeness to real world newspapers, acting almost as direct replicas<\/a>. <\/p>\n\n\n\n It is not just newspapers that have found a home in Second Life. \u201cKultivate Magazine<\/a><\/strong>\u201d highlights the cultural aspects of Second Life, promoting art, culture, photography, music, and fashion. Kultivate<\/strong> also incorporates four different art galleries. What\u2019s even more fascinating, Kultivate<\/strong> is the media partner and primary sponsor of \u201cTeam Diabetes of Second Life\u201d, an official and authorised team for The American Diabetes Association!<\/p>\n\n\n\n Much like the rise of influencers, there is a growing trend amongst virtual world users to publish personal blogs linked to their avatar\u2019s social media. These blogs review or promote virtual products through sponsorships with virtual creators. A noteworthy example is \u201cStrawberry Singh<\/strong>\u201d. Her Second Life blog<\/a> and posts received so much attention, she earned the title of \u201cMarketing Content Specialist & Social Media Manager\u201d at Linden Labs. Although her work mostly continues through official channels like the \u201cSecond Life community forums\u201d, her articles have been an important source of advertising for virtual businesses.<\/p>\n\n\n\n The Wall Street Journal<\/strong> encourages investors<\/a> \u201cto look into the metaverse even if they do not understand what it is yet\u201d. This is true for publishers as well who can explore opportunities for reader engagement, advertising, community building or organisation efficiencies.<\/p>\n\n\n\n Media and entertainment in the metaverse are likely to diverge from \u201cstandalone experiences\u201d into a multitude of interoperable spaces of entertainment, particularly prone to being experienced together. Some have started doing this in the real world through virtual events and Reuters foresee an increasing number of interviews held on the metaverse in 2022. We have already seen examples of this from the Financial Times<\/strong>, where they interviewed Meta\u2019s Nick Clegg in the Metaverse, and in South Korea, where top economic daily Maiel Business Newspaper<\/strong> held its newsroom meeting<\/a> in the metaverse.<\/p>\n\n\n\nIs there potential for publishers in the current Metaverse?<\/h3>\n\n\n\n
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