Metaverse will be $14 BILLION Market by 2030: Content, Education & Experiences

Alexis 0:00
If this is going to happen, then I’m sure this is going to be no the advent of new content consumption creation. The Metaverse nai will decouple the capabilities of people for breaches.

Chris Bruno 0:12
Welcome to all about the metaverse podcast, the show that keeps you up to date with the latest technology, trends and news about our future digital world. Welcome back, everybody to a brand new episode of The all about the metaverse podcast. We’re still here, Alexis, thanks for coming back.

Alexis 0:29
There we are. We are. Thanks for inviting me again. You know what I’m gonna stop just saying thank you for inviting me again. You know what? Even though the metaverse is never going to go through, let’s continue doing many podcasts or whatever, you know, maybe the bell best plays that we do our own Metaverse, I’m seeing some platforms out there that allow you to do your own metaverse. You know, really,

Chris Bruno 0:49
we’re gonna end up having to do something just so that we can keep doing this show. But now I do think there is a lot to talk about, because there is still a lot of things happening. It just seems to me that the big newspapers, the big media outlets are very much focused on the idea that no one’s really talking about the metaverse. There’s nobody in the meta versus a lot of like bashing of the the industry overall. And although we both agree that that is true to a certain extent, and we discussed this on various episodes, and with Gaurang, as well in one of the previous episodes, talking about how it needs to be more fun. I do think that there is actually a surprisingly large amount of stuff still happening in this Metaverse space. That’s right.

Alexis 1:25
That’s right. Well, there’s something that we don’t hear so much is the activity that’s happening in the Far East in terms of Metaverse, you know, like, so it’s it’s quite funny, like, every time that China does something, we say like, oh, it’s China doing something like, you know, it’s like, you have a secret services in the UK like, yeah, okay, that’s mi six euro in China, like, not the Chinese. You know, it’s like, you know, the US or the NASA is doing something not, it’s the Chinese like, Okay, well, actually, there is a company in China that started to do something as well, right, which is discuss this, this streaming service called BT BT,

Chris Bruno 1:59
as well, Billy Billy, so that that basically is kind of China’s equivalent of YouTube, right. And for some people, they probably don’t necessarily know about this. But I think last year, the numbers that we managed to find last year on average was about 330 million monthly active users, which puts it I think, above Twitter, in terms of number of users, just to put that into some kind of context. This isn’t a small platform by any means. And it’s currently doing something quite interesting, right? In this space. Yeah, they are

Alexis 2:27
starting to build their own infrastructure. So the whole entire blockchain infrastructure in order to move their digital assets. So I think start from that. But obviously, they are eyeing on the you know, what they call like the $10 trillion market opportunity, which is the metaverse, which, you know, if you continue saying this, we might believe it that is a $10 trillion market opportunity, which will save our podcasts. I’m just saying there was

Chris Bruno 2:51
a report today in the news, so I get a news alert every day to talk about things for the metaverse and there was actually a report. I’ve just got it here in front of me. South Africa’s Metaverse Market Report, large telecom giants are launching Metaverse, platforms and events to drive the popularity of the virtual world. And if you listen to them, I believe they put it at a $14 billion industry by 2030. So that’s seven years to go. And I think we’re currently a long way from those numbers. But it is interesting because a lot of people are still talking about this in a very positive way, aren’t they?

Alexis 3:23
Yeah, and and as a matter of fact, you I saw as well the the future headset that Apple is going to release. Okay, I don’t know exactly what names you rumoured. Oh man, I saw I saw some I saw some I think those are leaked leaked pictures. That thing looks like thing was good. Yeah, even for $3,000 the headset I think it’s but besides the fight is a beautiful looking objects. It looks like you know, the packing quite a fair bit of technology in there. And the sense that there’s a lot of, you know, ar, VR and mixed reality sort of capabilities. So yeah, large companies are still putting some money in. We discussed as well last time that it seems that meta is capitulating, but not really, is it?

Chris Bruno 4:07
No, I don’t think they are capitulating. And I think that’s again, another one of the we’ve said it right for us for this show. It’s not about bashing, we will comment objectively on what’s happening in the space and what’s going on. But I think basically everyone’s now said, like, oh, you know, Zuckerberg has given up on the metaverse, he’s now changed his direction altogether, and is now focusing on AI. And I think everyone at the moment is a little bit AI crazy. And I think it’s also going to have a very big positive impact on the metaverse on gaming in general on the way we tell stories on cinema. I mean, it’s going to change the way we just consume content altogether in a huge way. Yeah, content entertainment. Yeah. 100% sure has to rush or No, I haven’t. And there’s been some really interesting articles come out recently of like even big cinematographer saying, you know, the future of cinematography and Hollywood isn’t I’m gonna go and see the latest film in a cinema or it’s going to be you sit at home and you say, I want my character me How to be in a romantic comedy with Marilyn Monroe. Go tell me your story, and it can produce this kind of setting me up. Yeah. I mean, can you mentioned in one of the last episodes I think for adult entertainment industry, it could be very different. But yeah, so I think one of the big things is obviously now, we saw the story and I’ll link it down below if anyone else wants to read this. One of the Wall Street firms has basically said is met are going to change their name now to met a I met I. And I think that’s kind of an interesting one, right? They’re buying up loads of chips from Nvidia to basically make sure that they can be competitive when it comes to AI. And I think that’s a huge step. I don’t think they’re actually building the metaverse thing. I just think this is a huge step as to how do you create a Metaverse that people actually care about? I think AI plays a huge part in this and Goehring I think said it on the last week’s episode. And you know, these idea of these agents that you can interact with in the metaverse is going to play a huge part in that right?

Alexis 5:56
Well, there are a couple of things that I find that the metaverse will be the most relevant, definitely will be education. You know, there’s something that that puzzled me so much when you look at the evolution of let’s say, let’s say transportation, I mean, before you had, like, literally you just put yourself on a carriage. Okay, and then we moved on, on, you know, like, like a sort of a total bill, and then a car and our electric car and then in the future, God knows where we’re going, I’m gonna go overboard or whatnot. Okay, and many things like that have evolved throughout humanity. Okay. But going to class, going to class exactly the same way. Has this been done? You know, like, since since the antiquity, right? I mean, it’s not like you you’re going in Star Wars and you’re going, you know, to this even class training helmet that the young Lynx they have and then, you know, stuffs happening. Why should we should we using? You know, the metaverse for that purpose? Because the metaverse needs to be again, it needs to have purpose other than just entertainment. Right? The capabilities are great, but let’s let’s let’s make it like education is one.

Chris Bruno 7:09
I think that’s a really big one actually. And funnily enough, so meta, although they’re getting a lot of stick in the big press and by the Wall Street company saying they don’t care about the metaverse, etc. I think it was only two weeks ago, they released a an article saying how the metaverse can transform education. And it is completely sensible, it makes complete sense that you could suddenly give people access to potentially some of the best education in the world, right? What’s stopping you from listening to a lecture in Harvard, talking about a particular subject, other than the fact that you’re not physically able to be there. And the world has changed a lot, right? Because of COVID. Because of what happened in 2020, everyone had to find ways to be on Zoom calls and attend school remotely, it didn’t work. But imagine a way to actually engage people to bring them into the same space and to give them access to being able to actually meet people to have other other students within that area to be able to actually connect with people, whether it’s to listen to the content, to start doing a project to work together and collaborate on a project, or even to do the research to do the learning around it to just socialise around with those people with those should be in your class. I think that’s got huge potential, I think, I think meta are probably actually playing this, that drip feeding a little bit of information. I think this could be huge as well. And again, I’m not saying meta will get it right, I’m just saying that meta is so well funded, that there is a strong possibility that they can actually get something to the end, as opposed to maybe some of our crypto web three counterparts and companies that we’ve seen that we liked the sound of and who don’t ever quite get to that point, because again, we’re not talking about hundreds of 1000s of dollars or millions of dollars, we’re talking about billions of dollars, and even with billions of dollars and some really intelligent people, they haven’t cracked the code. And that’s a big thing, right?

Alexis 8:58
Well, there’s always this low hanging fruit, right, that people should go after. And as much as it seems that, you know, like a government agencies and collectivities and whatnot. They seem that I mean, at least in the Western world, it seems that dedication has decreased in terms of quality. Well, you know, with the technology that we have today, of course, the internet now, you know, the metaverse, I mean, as you said, we could be tomorrow be sitting on an awesome lecture at Harvard and, and soaking it all in, right? And only, you know, even doing it, you know, like in the traditional way, but even having, you know, like, maybe in a different environment, you know, could be floating in space, or stuff like that. So it’s all a matter of going after the low hanging fruit and if education is being so low, that’s definitely a low fruit to pick up. Right? Because everybody needs education, even even myself at 40 plus years old. I mean, I need to you know, pick up my skills and you know, like, Okay, let’s take a course. But you know, again, it would be much more fun if I could be there you know, like that. As relaxing lounging chair, putting my goggles on and then Okay, let’s go. Let’s learn something. And having fun.

Chris Bruno 10:06
I guess as well, like leech said, 50 6070 years education really hasn’t changed a huge amount. Yeah, fine. They’ve got tablets now and classes and things like that rather than books and pens and paper. But outside of that, we haven’t really changed the fact that you have to sit there 30 children looking at a screen or a board, and you wait for whoever’s at the front of it to tell you how it works. But imagine learning things like so I didn’t particularly like history, because when I was when I was younger, it basically just felt like I had to learn on this day this happened on that day that happened on this day that happened. And I’ve never really found it that engaging as an older sort of as an adult. I’ve read tonnes from the World War Two, all the way back to sort of history of religions and how things started. I’ve got an interest in it. But back then, I was bought. And I think Imagine being able to experience

Alexis 10:52
history and reenact reenact the history, right? Yeah. Wow.

Chris Bruno 10:56
Could you imagine like, how would you like to learn about Henry the eighth. And the Tudors, for example, other than walking around in that time and seeing what was happening, could you imagine like, as a kid, you’d spend 30 minutes, you’d learn the information. But in the same way, as they can tell you what every character from the MCU in the Marvel Universe is like, what their story is, where they came from, what they do, what their powers are. Imagine that if you had the same sort of engaging content, the kids would be able to tell you everything about what Henry the Eighth was doing. Six Wives were called what was going on at the time, you know, all of these things.

Alexis 11:28
Yeah, absolutely. And let’s, let’s see who’s going to have the balls to step into that arena and go like, Hey, okay, we’re building the metaverse, you know, to have to have the capabilities of teaching, you know, history and other other I mean, other subjects in the most realistic manner to our students. That that will be that will be really, you know, groundbreaking I think. And, okay, sorry, don’t quote me that last time I said that porn will be maybe the groundbreaking element, we will rise. We will learn from that and then we go through education. Okay. Well, okay,

Chris Bruno 12:05
it’s two very different spectrums, like different edges of the spectrum, like different angles. But it’s, it’s definitely one of those things that what we what we talked about more than anything else on this show is the purpose, right? It’s the Why are you jumping into it? And if it isn’t fun, if it’s not interesting, if it’s not engaging? Are you going to jump into this? Is anybody going to jump into this? And I think this is still the biggest challenge for the metaverse, right? It’s finding a way to get people to actually care about what’s happening.

Alexis 12:32
You’re not something I find that maybe the metaverse got wrong, or at least from the web three blockchain and token perspective, is that they try to model a model that they know which is land sale, and they all got into like, okay, land sale, and then for on your land, and of course, the land, you’re free to do whatever you want. But it was all about that pecuniary, you know, idea of okay, I’m going to make money out of versus Okay, now, I’m just going to have like a great experience. Right? And of course, you had to fund the means right? To have such operations. But everybody went into like, Okay, let’s do a land sale. And it was successful until he was not anymore. Right? So what if tomorrow, they will be like a Metaverse platform, they’re gonna say, Hey, listen, we are we are just selling content. Okay, we are selling history books, we are creating, you know, the reenactment of that battle that situation. And all of a sudden, you go, you wire yourself in and then boom, you learn, right?

Chris Bruno 13:37
There’s, there’s definitely a case for the actual content is going to play a huge part in this. And I think, again, I hate to say this AI is going to drive that massively. Because all of a sudden, you could create with the use of AI, that fundamental law that runs your universe, your Metaverse your story. And then basically anybody could come in and out of it, and be subjected to that world and AI would take care of everything else in between. So AI can take the story of the NPC characters to a whole new level, they could interact with you. And then one day, I could meet them six years later, and they would say, Oh, actually, I think I met your friend Alexis years ago, just because of the fact that we were linked as friends on that platform. So you can have these stories that would be super engaging. But it was one of the universes that I’ve been looking at the moment Metaverse project, so that I’ve been looking at, which is Mandela. So again, this one, by the way, is not sponsored in any way shape, or form. And this is just preliminary, me looking at this and thinking this sounds interesting. They’ve gone cross chain, they want to do this so that it’s open for lots of people in different ways. They’re also trying to figure it out. But really what they’re trying to do is make a system of content that goes across multiple different platforms. So there will be a comic book graphic novel kind of style element. There will be video elements where the story is being told, and there will be a Metaverse element where You get to play a part in that kind of story. Now, if you imagine playing this out on a bigger scale and taking it to the nth degree, 20 years from now, imagine the fact that actually instead of one person writing the story of The Lord of the Rings, imagine if we all took part in writing the story that then can be finished and finalised in 20 years time or maybe that never gets finalised. Right, it just a continuing evolution that’s happening. And the only thing I can think of this ever even come close to this is that years ago on I think PlayStation two matrix game or matrix game came out sorry, that followed in between the second and the third films. And it literally had characters from the films, that we’re doing stuff in the same universe. And it was kind of playing alongside but it wasn’t you replayed the film in the game. It was literally just complimentary. And that kind of stuff, I think is where you could really wit like MCU right has proved it marvel that belongs to Disney now. They have created I can’t remember 40 Odd films that are all connected. This is the biggest single universe that’s ever been made. I think other than Star Wars, by the way, also owned by Disney. Right? Like it’s this people want to be consumed by these universes?

Alexis 16:15
Yeah, of course. Well, let’s see, let’s see what’s going to be in store as well with the, you know, some some creative themselves. Because, I mean, we’re talking about like large, large studios, of course, Disney and Pixar. And, you know, I mean, those are large, large companies. But I do believe that, you know, AI is going to come here just to help in terms of design, but we’ll never be as creative as the human mind. I mean, we are, I mean, we are damn creative, right. So I do believe that there’s going to be some some people that they will have the capabilities or the enhanced capabilities, thanks to the technology to do just that right to be able to create unbelievable stories and unbelievable intricate universe that they will be taking place on the metaverse. So I really can’t wait for this to happen. Really. I mean, you know, you following people on Instagram or YouTube and whatnot. That is just the very start of, you know, those content creators universes, right? Even if he again, leave it to me to create my own metaverse. And you know, it will be I mean, it will be so psychedelically funky right then. And with so many intertwine story and Leto I mean, this is going to happen, it is going to happen. And I’m sure this is going to be you know, the advent of new content, consumption creation, and the metaverse and AI will decouple the capabilities of people for doing just that. So yes, beautiful mantra, Mantra. Was it Mandela? Yeah,

Chris Bruno 17:47
it was really important that what you said there’s, you’re right, humans will always have that next step of creativity, I think where it becomes interesting is instead of one or five people coming up with the entirety of a story or one person writing the next big franchise, like the Harry Potter books, or whatever it might be, we have the ability exactly that actually create stories that could involve 1000s of people. And each individual character could be represented by real human beings that actually, as they interact with these worlds, the story is being written. And that story can then be played out and can be created into films into books into whatever it is. But all of these things are literally capable now. And again, I don’t think they really were in the same way before. But I think he’s given us a real opportunity to look at this and say, the way we consume content is going to become more interactive. And I think there’s, you know, there’s been a couple of Netflix shows where they’ve tried to give people options, and you could choose left or right, or whatever might happen that yeah, this is like the next level of that. But not all of us do. Yeah, we tried a couple of them. And then also, I think most recently, we watched Kaleidoscope as well, I don’t know if you’ve seen that one. So it’s another show where there’s eight episodes, I think, but everyone watches them in a different order. So you get the whole story from start to finish, but you get it in a different timeframe, or a different timeline. You see a bit before bit after. So again, it’s a really clever way of getting people to consume content in different ways. But again, all of this is just possible now that you could create the next Harry Potter world, the next whatever, MCU, but it could have be belonging to 1000s of us 10s of 1000s, if not hundreds of 1000s on us. That’s right. And we could all be helping to write that story.

Alexis 19:27
I agreed, agreed, agreed. Well, again, maybe maybe we would have come up with, you know, sufficient sufficient viewers that will be paying for our contents and then we’ll be able to build our own Metaverse and, okay guys, watch the space. We are coming up with our own metaverse.

Chris Bruno 19:45
We’re gonna write ourselves with AI

Alexis 19:48
mat as well. I can’t wait. I can’t wait. You know, something that I’m wondering and I, as we were discussing about, you know, like the low hanging fruit of the metal person, you know, like informations. One education is another and something I’ve always wondered like, how can we compete? Yeah. Which I know is a foundation. And I know it’s like a supposedly nonprofit. But imagine if tomorrow, you know, Wikipedia were to, you know, power up their, the library to the metaverse, right? And then create a Wikipedia Metaverse right there.

Chris Bruno 20:21
So I think the the key challenge is, and this is where, again, like a hate to say this, this is where AI can change things, right? Because all of everything that Wikipedia is currently text, right? It’s text links and images. Let’s give it that. So if you can get AI to create the virtual environment where you could experience a Wikipedia page, but in a an interactive way, that changes everything. If you had to programme that every page yourself. I mean, it’s game over like this would take hundreds of 1000s of hours of programming of visual coding of like drawing of graphics of illustration modelling, so it doesn’t work necessarily. But I think that’s where it becomes really interesting. It becomes even more interesting, I think, is if, if you think to all the content we’ve made as a race, right, as a human beings for the last 7080 years, maybe even longer, if you can take all of that and feed it in, it means that we could bring people back to life. Like you could go on to the Wikipedia page of Ronald Reagan as ex President of the United States. So

Alexis 21:23
we’re just not include Walker them into that. That is all right. That one, that part will leave it out. Okay. Now within this, there was this kid was kid that bit

Chris Bruno 21:34
I pretty much would be able to go on to like a virtual Wikipedia page for Marilyn Monroe, right? We mentioned her earlier, because she was mentioned in one of the articles and you could have an interview, you could interview Marilyn Monroe, tell me what your favourite film was. And again, it would pick up based on other interviews that have been made where she had been quoted what you’ve done. And you could get that real information. I’ve obviously, obviously, it’s not going to be able to fit in all the gaps. But if you wanted to keep it completely real and based on what was there, all of that is possible now because of AI. And if you play this out long enough, it’s mind boggling what we could do,

Alexis 22:06
where it’s coming is definitely coming fingers are we living we’re living very we’re living really like encouraging creating them in the times that we live in are incredible. I mean, we sending, you know, we were reaching for the stars and new planets. And, you know, we want to become like interstellar species. We having you know, the awakening of AI, we are building meta versus I mean, the whole entire thing is really happening. We really live in such incredible times. I mean, this is unprecedented. I

Chris Bruno 22:33
agree with you more. I couldn’t agree more. The next big. Yeah, there’s another big shift for technology that’s just about to happen. Well, listen, Alexis, I think this has been awesome. As always, there’s plenty to talk about around the metaverse, but we’ll be back again next week for sure. Thank you for listening, everybody. If you haven’t already, please do hit the subscribe button. We really appreciate it. You can find us on LinkedIn. And you’ll find us on Twitter, Facebook, as well as on YouTube, where you can see us in our black T shirts talking about this content as well.

Alexis 23:00
For sure for sure. Absolutely. Well, invite me again next week. We have plenty to talk about.

Chris Bruno 23:05
Yeah, we got to stop saying you just you’re here every week, so it’s okay. Okay, I

Alexis 23:09
got my weeks done. Okay, then see you guys next week. Thank you for listening. Bye. See you Chris. Take care. Bye bye.

Transcribed by https://otter.ai