In the future Metaverse will revolutionize the real world changing the way people meet and socialize. The metaverse is more than just a passing fad, therefore, it is important for individuals to not miss out on it. The company named GameFi, a play-to-earn gaming destination that combines video gaming, blockchain technology, and decentralized finance (DeFi) became a part of the metaverse gaming experience and moved gaming away from closed data servers and toward blockchain networks enabling individuals play games and is also rewarding them for their efforts. Likewise Airtel launched its multiplex on metaverse platform, an extension of Airtel’s Xstream Premium offering with a 20-screen platform with access to content portfolios from leading OTT partners available on the application.
Features of Airtel’s Metavers Multiplex
The idea was conceived by Essence, Airtel’s integrated media agency of record, and developed by Gamitronics, the creator of Partynite, a blockchain-powered digital parallel universe.
The Xstream multiplex offers an immersive content experience with multiple engagement layers, which allow users to interact on Partynite Metaverse. It enables users to get the feeling of original shows and movies with content pieces such as the first episode of an OTT original or the initial minutes of a movie in regional languages, besides English and Hindi. Users can get access through the complete paid plans. According to the company, Xtream Premium recently saw a two-million subscriber milestone within 100 days of its launch.
Shashwat Sharma, Director – Marketing, Airtel says, “Airtel’s Xstream multiplex provides a larger-than-life experience, which brings together Web 3.0 apps and immersive storytelling, and an assortment of content from our partners. We all know people’s love for movies and entertainment in India. Through the metaverse, we are looking to tap into a larger audience, giving content enthusiasts an opportunity to sample Airtel’s Xstream Premium offering and, thus, aiding in driving higher adoption.”
Rajat Ojha, Founder of Partynite (Gamitronics) says, “Airtel Xstream Premium’s multiplex experience is one of the most scalable use case scenarios for the metaverse. Future opportunities here include movies, music, live events and premium sports streaming. Apart from the robust scope, it will also allow social engagement, open up newer methods of content delivery and, of course, provide an immersive experience at the core of it.”
Entities Use Metaverse Platform for:
Social Interaction
When we just sit and think about problems, the basic exercise of human interaction has helped in the development and evolution of cultures. These kinds of interactions weren't just limited to one-on-one interactions. They took on many different forms, such as music, dance, and art. Moreover, in today’s world, interaction has become a major issue, when the interaction happens through an electronic media it leads to miscommunication. However the large portion of our communication is done through social media channels and messaging platforms, interactions can become mechanical and emotionless, and may frequently lead to miscommunication and misunderstandings.
Media and Entertainment
When we recall the film Avatar, the sci-fi film depicted human interaction with the alien world through virtual avatars, which were created using a combination of artificial intelligence (AI), virtual reality (VR), and augmented reality (AR) technology, without ever leaving their safe confines. In the metaverse, media and entertainment will mostly look similar. To enter the virtual world, all you have to do is put on your AR-VR headsets. You can attend virtual concerts, visit virtual theme parks, place bets on sports, and so on just as you do in the real world.
In recent days, Snoop Dogg, Imagine Dragons, BTS, and a number of other artists have already held virtual concerts. The metaverse will also increase participation and make it possible for multiple artists to perform together, allowing for an even closer connection with fans.
E-Commerce
The metaverse will have a similar impact on commerce and trade as e-commerce platforms did on the business landscape around the world. Brands will set up virtual shops in the metaverse in the future, with buyers taking a 3D virtual tour and trying out various products before making a purchase. The products will be delivered to customers' homes once the purchase has been made. The way of purchasing things will be the same as we do in the supermarkets; except that it will take place online entirely. There will be no trade barriers, strict regulations, or borders in this world. Anyone from any country can shop at any store they want.
Consumer Brands Using Metaverse to Advertise their Products
Even though the concept of metaverse is digital and they follow digi principles, multiple consumer brands have entered into the virtual platform to launch and sell their products. When we start talking about the top most consumer brand Nike, which is well known for sports and that mostly focuses on fun and competition, is using the metaverse platform for selling and advertising its products.
Wealth of Metaverse
Decentralized finances are the heart of the digital economy of the metaverse. Digital currency will fit perfectly into the virtual environment. As long as users stay in a virtual environment, they can sell and buy things with digital currencies. It's unlikely to have only one metaverse; more likely, we will have multiple metaverses created by various companies, so it's unlikely to see a universal currency that will work for all metaverses. Every company that will create a metaverse will also release its own currency, and one of the challenges that product designers will face is creating a mechanism that allows them to exchange one currency for another easily.