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Future of entertainment industry – Metaverse or something new

Image by Brian Penny from Pixabay

With the continuous influx of new technologies, the entertainment industry has been witnessing a constant shift in its preferences for mediums to reach out to maximum audience. And it seemed to have continued an upward trend, especially in the last couple of decades. While integrating artificial intelligence (AI) as the main component, as the technology evolves more, and that is bound to happen, the possibility of new mediums could make it more difficult for traditional modes to survive.

Sitting in a theatre for anywhere between 2 and 3 hours, coupled with hours of travel, just to watch a full-length movie could become boring and exhausting in future. The new generation, trained on using AI-based tools for everything and always looking for quick fixes, may run out of patience investing so much time just for a little entertainment. And how about others – TV, webs series, social media videos? They do not require one to spend a lot of time, but then “entertainment quotient” plays a big role in this industry.

What titillated the older generation may not have the similar magical effect on the minds of their grand or great grandchildren. Thousands of videos, movies, web/mini-series, TV programs are being floated every year and the producers may think that people are spoilt for choice. But what if these creative pieces are not see as choices anymore, but perceived as a trash that carries no significant values to be considered for any kind of investment by the audience.

Video games have evolved much faster than its competitors. Metaverse gaming offers immersive experience combining interconnectedness, virtual spaces and interactive networks. Considering its rapidly growing popularity and the way the younger generations have embraced it, one cannot help but wonder as to what will happen to the entertainment industry. Having said that, one cannot deny the fact that humans are emotional beings and they love stories. Therefore, the problem is not with the idea of storytelling, but how it has to be communicated and through what mediums.

Billions of dollars are being pumped into metaverse technologies by tech giants like Microsoft, Google, Nvidia, Qualcomm and Facebook, which even got rebranded as Meta. However, there are a lot of uncertainties about the future of the whole concept. Whether it will transform into something totally new compared to the contemporary digital world. Will there be one metaverse with shared virtual space by all or multiverse with limited interoperability due to the competition for dominance in the market? What will be the setup required to enter the virtual reality by a user – a mere headset or much more sophisticated tools, perhaps a metaverse suit and other gadgets in a room.

Despite many unanswered questions about the technology, the different possibilities in terms of immersive experience that it can offer are unimaginable. Think of a virtual world a user can enter and access anything that one can imagine – a dinosaur, a rare work of art, a piece of music, a tour to ancient world from any era, ability to enter a movie as a character and be a part of it, meet real people from any part of the world and have meaningful conversation. It can literally offer anything and everything one can aspire to but cannot possibly find in the physical reality.  

Even if metaverse fails to achieve its full potential, the 3D immersive experience will still be far better than what 2D or 3D videos and movies offer. Humans are curious beings and like to get involved personally in their pursuit rather than just being an onlooker or a bystander. Being spectator is boring, especially when one is filled with energy and enthusiasm. Sitting in a chair and staring at a screen for hours may not appeal to the future generations, no matter how interesting a story is.

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