EY Global Telecommunications Solutions Architect. We develop outstanding leaders who team to deliver on our promises to all of our stakeholders. Additionally, businesses could leverage cryptocurrency and smart contracts to manage finances with much greater velocity, essentially automating capital and making their money programmable.31. Relationships with device manufacturers and technology platform providers should pivot toward the long-term opportunities afforded by virtual and augmented reality. This capability may require new ways of organizing identity, ownership, and even storage. Metaverse worldsm-worldsare gathering hundreds of millions of active users thanks to the powerful computing capacity and mass-market availability of mobile phones, tablets, and PCs, as well as improvements in cloud services and connectivity (such as fiber and 5G). The metaverse presents two specific areas of focus: an ecosystem for them to participate in and an ecosystem for them to enable. Many metaverse capabilities and behaviors exist, inspiring the largest platform and digital lifestyle providers to mobilize enormous amounts of capital towards its success. Telefnica has invited tech startups in the metaverse space to participate. Ready to find out how this technology will change your industry? Deutsche Telekom (DT) and South Korean telco SK Telecom have collaborated on a metaverse platform of their own. Many are built on the Ethereum blockchain, enabling portability and interoperability across services. Indeed, we are already starting to see telcos around the globe recognize this potential. While many consumers and companies are still taking a wait-and-see approach to swapping real-life activities for virtual metaverse experiences, T-Mobile U.S. According to a VR research team, to establish a presence a person's subjective sensation of being there in a scene a wide field of view (80 degrees or better), adequate resolution (1080p or better), low pixel persistence (3 ms or less), a high enough refresh rate (>60 Hz), optical calibration, and rock-solid movement tracking, are needed. CEOs in these industries could consider taking To reap the benefits of this new internet platform, businesses should collaborate to build its foundation through metaverse and Web3 initiatives. This year, S&P Global Market Intelligences TMT research analysts were back on the ground at MWC after three years away. This enables innovation, scaling of new commercial applications, and with enough users, testing them in extreme market dynamics. We are thought leaders in Metaverse (VR-XR-AR); founders of the Metaverse Resource Center. Do Not Sell or Share My Personal Information. Web3, 5G, and the Metaverse are interconnected in that when one improves, it evolves the other with it. Because 5G and metaverse go hand-in-hand. Operators can also invest in device innovation as well as execution of key levers to drive profitability, such as securitization, re-commerce and insurance. For example, ones personal avatar may be very different from ones avatar for workjust as ones dress style may be. Metaverse Architecture is a blockchain-based virtual space where people can interact and explore virtually. Users could be similarly incentivized to share their data and accept advertising. Operators should leverage their existing customer relationships to position themselves as identity management experts as the metaverse takes shape. It may be evident in games, but telecom as well would be impacted positively in the years to come. WebBuild & Operate: We design, build and operate metaverse capabilities for our clients, including world-building and engagement, content management, marketplace development, blockchain, 3D commerce, extended reality, digital twins, trust and safety and ecosystem and community development. Metaverse polled second in the Oxford Word of the Year and has been popular in 2022 with the TelecomTV readership Telcos around the world are increasingly open to exploring futuristic use cases One word often dominated the discourse in the telco and the broader tech industry this year and that word was metaverse. It took years for nearly 80% of humans to use landlines, automobiles, personal computers, and cellphones and this will be a similar approach when it comes to jumping into this new world. Allan is a managing director with Deloitte Digital & the Digital Reality Business leader, working with clients on VR, AR, MR, 360 & immersive strategies & experiences. Meanwhile, relationships with industry vertical customers can also be strengthened by identifying new collaboration opportunities. Immersion and embodied digital interactions could create much more data about users, revealing new threats and security concerns. Its progressive growth and development will continue to make lasting impacts on our technological culture. Today, consumers and businesses are ever more concerned about their digital footprint and the integrity of their personal data. CB Insights, The metaverse could be techs next trillion-dollar opportunity: These are the companies making it a reality, April 13, 2022. There are many small metaverses today but a dominant one that reached billions of users has no clear date of arrival. A common refrain was that although consumer 5G has largely been underwhelming, a more interesting B2B focus is now the real opportunity. Deloitte refers to one or more of Deloitte Touche Tohmatsu Limited, a UK private company limited by guarantee ("DTTL"), its network of member firms, and their related entities. In a few decades, it has reshaped much of the human world, enabling great progress and historic change, and revealing the many challenges that come with such transformation. And things seemed to get even less clear at MWC. Moving further into a world that blends the physical and digital may require greater integration, more modern standards and protocols, and capabilities that give people more control of their digital selvestheir identity and representation, what they own, and who has access to the data they create. Mollie Taylor, Final Fantasy 14 is desperately trying to fix its housing crisis, PC Gamer, July 19, 2021. Meet the managers of Axie Infinity, Vice, April 4, 2022. A digital-first and simulation-based approach to everything, from bolts to machinery to full industrial plants to entire greenfield smart cities, was addressed by both IT and OT large enterprises. It will likely evolve into a series of public and private digital platforms that can enhance the real world in increasingly sophisticated and valuable ways. Mario Gabriele, Blockspace: An introduction with Chris Dixon, The Generalist, accessed July 18, 2022. Zepeto Huge Metaverse App with 3D Avatar Customization. remember settings), Performance cookies to measure the website's performance and improve your experience, Marketing/Targeting cookies which are set by third parties with whom we execute marketing campaigns and allow us to provide you with content relevant to you. Additionally, high energy consumption from proof-of-work blockchains could slow adoption while raising operational costs and environmental impacts.24Energy use could be addressed by the pending shift to more efficient proof-of-stake blockchains, as well as an increase in green energy supply to power these protocols. Get the Deloitte Insights app, Change your Analytics and performance cookie settings, Merch sales from Lil Nas X Roblox gig near eight figures, Final Fantasy 14 is desperately trying to fix its housing crisis. The crown jewels in the telecom environment are the broadband core and edge network workloads, and all the hyperscalers are going after them. Jarvis, Kolli, and Silverglate, What disrupts the disruptors? Cindrum Metaverse Multiplayer Game. Comprehensive ESG value chain strategies have emerged to reduce waste, as well as direct and indirect emissions (from scopes 1, 2 and 3). Put cybersecurity, privacy and trust at the heart of metaverse services. Interoperability, which is commonly heard as well in telecoms network architectures, means being able to seamlessly travel between virtual spaces with the same virtual assets. In order to take advantage of this gradual evolution, operators should be prepared to invest in emerging metaverse platforms. As IP video takes over broadcast, there is a need to manage the quality of video required on demand or by use case, as well as cloud agility, to reduce the cost of running platforms and to deliver ad revenue localization. Infrastructure Upgrade. WebWe identify and evaluate targets, analyze investment themes, and conduct due diligence ofand formetaverse companies. Market Intelligence While leading platforms and service providers increasingly bend their strategies towards the metaverse, more nimble disruptors are drawing large amounts of capital to build the next generation of Web3-native metaverse experiences. To work, a global metaverse requires global internet availability and low-latency infrastructure where roughly 50% of the population currently obtain. WebThe metaverse could enable optimized decision making from the C-suite to the front lines, customized and immersive employee and customer experiences enabled by augmented and virtual reality, autonomous AI use cases (such as proactively self-healing equipment) that arent possible today, and entirely new product development mechanisms and processes. Current VR technology needs to be improved around areas such as portability, resolution, responsiveness and field of view to bring it into the mainstream. We have 75+ years combined consulting years successfully applying technology to improve business results. According to the report, gaming is currently in its early stages. The biggest change from years past was the ubiquity of messaging around sustainability and ESG, from both suppliers and telecom operators, and the emergence of the metaverse as a common use case for advanced networks. Data residency and sovereignty has also made some cloud services difficult to adopt. Business leaders face many challenges with cybersecurity, trust, brand reputation, and digital rights management.25Web3 and the metaverse may require new implementations across networks and partner ecosystems. Metaverse experiences could face much greater challenges with the scope of data collection enabled by advanced interface hardware while reckoning with new forms of content, speech, and reach. These young businesses use Web3 protocols to create strong networks of users and owners all incentivized toward shared outcomes. Industrial Metaverse Use Cases Use case identification and execution We zero in on the most promising metaverse use cases, and Molly White, Is acceptably nondystopian self-sovereign identity even possible?, Mollywhite.net (blog), June 10, 2022. The metaverse has the potential to impact all our lives in an unprecedented way and bring about behavioral change. Key Amidst the hype and critique, it is these behaviors and uses that are invoking Web3 and the metaverse. Led by Founder and President Barton Goldenberg, companies, non-profits and government agencies will receive hands-on guidance from one of the most experienced teams in the world. The GSMA attempted something similar in 2012 with the OneAPI Exchange, which failed. Telecommunications providers have extended advanced connectivity into businesses, households, and hands, enabling more interaction, immersion, and collaboration. WebUse metaverse data with care. Successful blockchain implementation are advancing, moving from proof-of-concept to deployments to serving customers.22But many Web3 solutions are highly technical, there are many vulnerabilities from immature implementations, volatility and asset inflation from investors and scammers alike, and a good deal of noise clouding the market.23There is fragmentation among crypto wallet and identity providers and a growing need for stability and liquidity guarantees in crypto markets. Business leaders should seek to understand how their capabilities and mission enable them to build in the near term, plan for the midterm, and prepare for longer horizons. Along with the big technology players, telcos were among the first ecosystem players to start exploring it. Industrial metaverse use cases often have solid and obvious quantitative financial and ESG advantages. As we move into the Therefore, how is the industrial Metaverse shaping up to be the next big thing? 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