Mike Ong
Hailed as the next frontier of social networking technology, the metaverse and Web3 show strong potential to deepen interactions through more immersive, multi-dimensional experiences. We are already witnessing social media platforms today implementing certain elements of metaverse and Web3 technologies to further improve user features.
Thus, as these technologies continue to develop, we can expect social media platforms to lead the way in propelling mainstream adoption of the metaverse and Web3. Moreover, it is likely that new, diverse social media communities will be formed as both our methods and technologies of social interaction evolve in tandem.
Facilitating cross-platform interactions
Currently, community detection algorithms already exist on social media to help identify and group like-minded individuals online, building what is known as a ‘social graph’ for each user that shows their social linkages to others. However, this social graph is immovable and exclusive to each platform. You can only connect to and interact with your connections on that particular platform – so once you change platforms, you need to re-build your connections again from scratch.
The promise of Web3 social networks is that these social graphs may become decentralised thanks to blockchain technology. That would allow users to connect to their existing network of contacts on almost any application and community, enabling more seamless and diversified interactions. Instead of having to wait for or miss out on platform-exclusive features, all social media users could use any platform’s features with any of their contacts as soon as they are publicly available.
For example, if you wanted to contact a merchant that is exclusively on one messaging platform, you would have to make a unique account on that platform specifically for that purpose. But with decentralised social graphs, it might be possible in the future to speak to a merchant on other messaging platforms and seamlessly move the conversation back and forth across multiple platforms without having to make new accounts.
Blockchain technology further expands the potential depth of these interactions. Using the previous example, you might begin a conversation with a merchant on WhatsApp, watch an explainer video together on YouTube and start a group discussion on Teams – all in the same session with the same social media account. Effortless engagement is the name of the future digital game, and blockchain could be the key.
Creating immersive shared experiences
Virtual interactions are often assumed to lack depth compared to in-person exchanges, but metaverse and Web3 technologies – especially virtual and augmented reality (VR and AR) – could narrow this gap by offering an extended reality to social media users that complement physical interactions. Social media platforms can and already are hosting realistic online events such as virtual live-streamed concerts, digital fashion weeks and more. Therefore, with VR and AR, such events could be experienced in a more immersive 3D metaverse environment while incorporating exciting features such as games or live chats.
Additionally, these events often employ virtual avatars and AI to enable users to generate an accurate virtual representation of themselves online. As virtual avatars and AI become more lifelike and sophisticated, they can create engaging co-presences among users by replicating the human element. The ability to create immersion and facilitate lifelike interaction can be especially groundbreaking as it can help recreate experiences that would normally not be possible or viable.
For instance, Meta and the estate of the legendary late rapper, Christopher Wallace (The Notorious B.I.G), are collaborating on a joint project named “Sky’s The Limit: A VR Concert Experience” this year to commemorate the 25th anniversary of his death. The VR concert will showcase a hyper-realistic avatar of Wallace performing his popular hits, giving the rapper’s fans a realistic and immersive concert experience that would have been deemed unthinkable for over two decades.
Redefining web3 community participation with the creator economy
Content creators play an integral role in the formation of virtual communities as users are often attracted to and bonded over their content. The more creators a social media platform has, the more likely people are to use and remain on the platform. As a result, social media platforms have implemented many features to encourage interaction between creators and audiences, as well as to incentivise creators to keep creating.
Web3 and the metaverse could change the game for the creator economy. Not only do they encourage and enable greater engagement in the virtual world, thus creating a stronger use case for digital content, but they could also enable more content to be creator-owned and platform agnostic. This would significantly incentivise participation and unlock immense diversity in creation and monetisation. Some examples include musicians being able to sell exclusive passes for 1-on-1 fan meetings in the metaverse, while designers can create avatar skins and various creative assets that users can buy and use across platforms as a reflection of their identity.
But as social media platforms explore 3D environments and flirt with leading the charge towards the metaverse, the role of creators will become even more important because the content is necessary for the metaverse to go mainstream. Creators will be responsible for creating everything from aesthetics such as skins and decorations to features such as AI technologies and functions. There will be more demand than ever before for hyperrealistic, immersive and interactive content.
If Web3 allows creator ownership to flourish, this will protect these expanded monetisation opportunities for creators, thus boosting the creator economy and incentivising creators to create. This then leads to a more robust, feature-rich metaverse, which would attract and retain more users and spur community participation among social media communities – especially on the platforms that prove most successful at being a gateway to access this exciting new world.
The potential of Web3 and the metaverse
Social media platforms kickstarted the formation of virtual communities in the Web2 era, and while Web3 and the metaverse is still nascent concept, it seems clear that these platforms will remain the gateways to the next evolution of digital communities. The metaverse and Web3 show significant potential in amplifying their community-building capabilities, and we are only just beginning to explore what they can do to enhance interaction, immersion, and participation.
As a leading tech company, BIGO looks forward to witnessing social media developments within this space while evolving the tech capabilities of our own social platforms for optimal community-building.
Mike Ong joined BIGO Technology Pte Ltd in October 2019. As Vice President, Mike leads the division responsible for the development of corporate branding and interactions with governments and key partners in Singapore and around the world, to open up new markets and build up tech talents of the future.
