Are you ready to leverage their potential? Listen to our on demand webinar to hear in-depth insights into the metaverse and Web3.
In order to support brands and companies as they develop or evolve their strategies pertaining to Web3, Ipsos shares a 360° view of this emerging landscape and explores three key components: 1) technology and user experience, 2) current awareness, behaviors, and expectations, as well as 3) the broader context for how Web3 can find its place in an evolving world. Each of these can contribute to determining and defining the best formula to create a unique and authentic experience for your brand and audience.
Today’s AI-generated audio transcript is offered below. Apologies in advance for inconsistencies that have been included.
Thank you for joining us for today's Ipsos webinar, exploring the market potentials of the Metaverse and Web3.
Today's presentation is being given by Ipsos research experts in media, entertainment and technology sectors and you can read more about them on the slide in front of you.
Throughout today's session you will remain in listen only mode, however throughout the webinar you may submit questions online using the Q&A feature.
Time permitting we'll answer your questions at the end of today's session, however, if time run short, then your question will be answered by e-mail.
I also want to encourage you to check out the handouts we've uploaded into the webinar control panel.
Today's Webinar is also being recorded and will be directly e-mailed to you.
So now without further ado it is my pleasure to introduce today's first speaker Nicole Massa Senior Vice President with Ipsos' media Development Team. Nicole, you have the floor.
Thank you and thank you again for joining us today. We're really thrilled to be here.
As Web three continues to be top of mind for brands and marketers, we want to be able to support as Web three strategies are being developed and optimize.
Today, we will discuss three major components to consider through the stages of planning, audiences, including awareness, behaviors, interests and intent, technology, and the user experience, and how Web three is finding its place in an evolving world.
Each of these contribute to determining the best formula needed to create a unique and authentic experience for your brand and your audience within Web three.
As we go through this webinar, you will notice we utilize the term's immersive experiences and metaverse interchangeably.
As audiences continue to gain awareness of Web three, we want to ensure we highlight the evolution and understanding of audiences across the board.
By utilizing terms that audiences might be more familiar with, we can get a better sense of people's current behaviors and intent.
Now, before we dive in, let's take a quick journey.
Let's imagine, in 10 years, you have extended reality contact that connect to your smart earbuds.
You're traveling in a new city and want to buy a new sweater.
You asked your virtual assistant.
Where can you find a clothing boutique that has cardigans available in your usual budget, which she already knows?
The busy street in front of you, slightly goes out of focus as your virtual assistant pulls up the nearest store options for you.
You select a store that's 30 bucks away by foot.
Your virtual assistant offers you different route options, and while doing so, you notice your favorite taxi app is offering a deal today.
So you say taxi and it sends a driver automatically to you.
Once you get to the store, you find a sweater UI.
As you pick it up, your extra contact sync with a virtual menu and storefront that often you different options to choose from.
You could try on the sweater using a virtual mirror.
You can access your digitalize closet to compare the sweater against what you already own.
And you can purchase that sort of right there.
using virtual currencies, like your crypto wallet or phone pay.
Virtual assistant then notifies you of a deal the star is offering to add a virtual stylists to help you style the sweater with the clothes you have in your closet Or help you find additional options in the store.
A metaverse would blend digital information and access with the physical world.
This would truly be digital.
And now I would like to turn it over to Yana.
Great. Thanks, Nicole.
So, as we go ahead with the next slide, thinks, as we talk about more immersive experiences, as Nicole mentioned, the term metaverse has been used many different ways over the last several months, ever since it exploded into mainstream media. The idea of a Metaverse has become a vision for a new, futuristic wage market to consumers.
To facilitate e-commerce and even bring physical experiences into digital ones, it's a vision that will require a connected ecosystem of many digital technologies.
Those are shown here on the right side of the slide.
And they're going to need to work together seamlessly to provide a way for physical and digital worlds to merge and provide a blended digital experience. However, we need to remember this is a vision that doesn't quite exist yet.
Currently, extended reality is an umbrella term for technology that connects physical and virtual together, and you can think about the different types of experiences as different levels of immersion.
Virtual reality is probably the most common way we think of immersive experiences using a VR headset, make an avatar of yourself, or interacting with three-d. virtual objects with floating virtual hands.
Headsets and accessories allow the user to map their body or head movements in the digital space. So they feel as if they're actually there.
VR is full immersion, so people are disconnected from the physical space or the world around them.
one level up from that is mixed headsets like hololens and magically add virtual overlays to our real environment like you can see in this video where we have three-d. interactive models, or screens that are located around the kitchen.
Now, mixed reality isn't yet widely used by consumers, but it is being used by industry.
For example, a mechanic wearing a mixed reality headset may receive digital overlay of information and images that could help them diagnose and solve a car malfunction.
They would still have to fix the car, but their headset might help them gage, you know, the proper alignment that would be required for, for the fix that they need to make.
Augmented reality is another part of extended reality, and can be used for experiences like virtual product Try-ons, or even our clothing that maps to your body in real time.
Augmented Reality overlays, digital objects, onto the physical world and allows for light interaction to turn or replace a digital object.
Augmented reality doesn't really block out the physical or real-world completely.
So it doesn't allow for us much immersive interactions.
Most augmented reality experiences, though, are used on legacy devices like smart phones, and as a result, these are more accessible for wider audiences and really a gateway for customers to start exploring the ways digital and physical experiences can start to intersect.
In the future, the Extended Reality devices maybe combine so people can decide the contexts in which they want 100% emersion or perhaps a less immersive experience.
Now I'll hand it over to Natalie.
Great, thank you, Donna.
So, I'd like to just switch gears a bit and talk about the relationship between these terms and how consumers are both engaging, but their level of awareness is and their interest in these types of immersive experiences. And all of the things that come around that.
one of the first things we're just going to look at is the level of awareness.
What we're seeing here is the level of awareness for various terms, and what's really interesting as you go through this, and the different bars represent different age groups here, is that, if you look at Virtual reality, which has the highest level of awareness, was about 72% saying they know a lot, or a little.
Moving down to Augmented Reality, Metaverse still a majority, and FT's, just slightly under majority.
Web scraping the lowest, at about 24%, who say they know a lot or a little. This awareness actually carries across all of the age groups, and just slightly declines as we get to those over 40.
These results are from a new syndicated study that we've released, that came out of field to the end of June and covered this 13 to 55 age range in the US.
So, while we see consistency across age groups, one of the consistent unfortunate situations we see is a pervasive gender gap that will need to be addressed as we seek to engage a broader audience in these kind of immersive experiences.
And that gender gap, interestingly, carries through across the age groups.
So, for example, if we just dive in specifically and look at those who know a little or a lot about the metaverse, you can see that even among teens 13 to 17, the age gap is 23 points. So the gender gap between men and women.
And why that becomes particularly important is if we look at the sense of affinity and how that's correlated with awareness.
So we asked people, do you feel the metaverse is for people like me, Am, on average. That's about 44%. You see that that does, again, rise to over majority among the teens, and even among those in the 18 to 40 age range.
And if we cross our awareness, of course, those that actually feel a greater affinity are more aware, so those that are engaged. And then you'll see this throughout the research, is there's a segment that is both engaged involved.
I'm really interested in participating as we move through, and the metaverse and these immersive experiences become more common, the question of accessibility and how we can engage across audiences will become critical.
It's not only is it an interest and feeling of affinity, We can also investigate the interest in participating in these virtual worlds. So we said to yarn, as yarn, Nicole's discussion about fashion and how that might change in these experiences. We have almost a majority saying that they think they would learn more about fashion and trends in virtual worlds worlds.
And they would niemann shopping at the mall or online.
And among those who know a lot or a little bit, metaverse, half of those would actually rather attend A concert in the metaverse than a live music venue.
So, clearly, that level of awareness and among those who are aware there is this interests, engagement, and sense of excitement, about what this will bring.
We dive a bit deeper into some of the other areas that these audiences could either participate or engage in in these kinds of experiences.
So, this chart shows those who have not either done and are not interested, which is the gray, the middle bar, those who actually said that they have participated in these activities, and the top bar shows those that are interested.
So while Gaming with friends or strangers has the highest level of those who say that they've actually participated in this kind of activity and immersive experience, those who actually maybe want to explore the locales or learn a new skill. You have 61% of this 13 to 55 who are interested in doing that kind of activity.
So not only is this relatively strong awareness, we see, of course, that gender gap, there is this real strong interest in exploring what's possible in these virtual worlds.
And it's in terms of asking why we think this is so high, there is actually over a majority who actually think that these immersive experiences will make playing games better than the way we do things today.
53% say they think entertainment will be better than the way we do things online today.
However, if they go down these different levels of activity, one of the things that we see and this is a tension that will exist, is that ability to be your true self in a virtual world.
There's only four in ten saying that they feel that that was the better in a metaverse than the way it is today.
So again, positive momentum and potential but clearly some areas where people have or feel this tension moving forward and to talk a little bit more about that and hand it over to Philip.
Thanks very much Natalie. And thank you everyone for joining. So, yes.
So, thinking about what, you know, Natalie and Yana just book, but Yana spoke a little bit about, you know, what's the, what's possible, Notley spoke about where consumers are ahead of what they think about, what they care about, where, where some of the gaps are in terms of what we, what we look at.
And so, flipping it back to why think about it from a company, or brand perspective, is what is the opportunity that exists today.
So, the first one I like to think about is, you know, if we think that the metaverse and the immersive web, and Web three, and whatever, we want to call it. We haven't even landed on the full definition. Yes. It's not fully here, yes.
It's still, it's still about potential, rather than full reality, as we, as we see it. And we'd like to liken it to the dot com era of the late nineties, right? There was a lot of really good stuff happening. But the infrastructure wasn't here. We haven't fully activated or actualize what we're trying to do and so there was still a lot, a long way to go.
And so, if we find ourselves there, we're actually had a great point in time where we can create the future Web, the future metaverse that we want to be, right? So, if the problem with that is, if we're not necessarily thoughtful about that, we might just have a next gen version of what we already have. Right.
However, we believe there's an opportunity to create maybe perhaps a more inclusive, safe, and equitable and empowering future than the one that we have today. And there's an opportunity to bring new value to your customers so we can create the future that we want to actually have when we get into this, this immersive web environment and build it from that perspective.
Secondly, even if you're not ready to actually create the future, there's a steppingstones approach to all of this, or to any type of new technology, or capability, or what have you. This could be as advanced as you're looking to launch a store in decentralized, today, if you will, and you're not doing it, because you want to sell product, or services, or what have you, you just want to try it out, and build an internal capability, and way of understanding how everything is operating today, what the potential is tomorrow. So, so, there's things that could be done today, but you don't even have to necessarily go that far. The other thing that you can start to do is to start to think about, OK, what are others doing? Keeping an eye on things. It could be looking at your own consumers, your own customers, and thinking where are they headed? What do they care about? Where are they spending their time? Some of the data that not be shared, for example. And think about, OK, so how can we really understand changing values shifts in behavior to really understand what we need to start thinking about for the future, and when it might make sense to actually get more involved in all of this.
And then the final thing that I think is, is an often understated opportunity within within this space is, just by thinking about this.
Just by talking about the metaverse and immersive web internally, You, you start to identify the long way to go for many organizations in how to get there. And it starts to put the current digital progress into context. Many companies we speak would say, We actually aren't as far along in our digitization as we would like to be. We're still thinking about, let's say, DTC Commerce, Worth Thinking About, you know, chatbots and AI, and whatnot. But we're not necessarily fully thinking about, Oh, how can you use AR to give you more transparency on product sourcing stories related to brands or products we're setting?
And I think just by looking and talking about this, right now, we can start to highlight some of the gaps and start to progress sort of the near and digital digitization of our companies and our brands. So, that's how we think about the present opportunity.
Before going further, because I'll talk about a few workshops in a minute. I think it's always important to think about this from a historical perspective, as well. And looking at other technology, and how it's been adopted over time. And then, the example we love to talk about is, let's just think very simply in terms of navigating and how we navigate the world. So, let's just go back 30 years and we think about, OK, if you wanted to get somewhere and go somewhere, many people had an atlas in their car. They would mark them up. They would write down what they do to get to where they wanted to go, and they might have one in the car.
Big one, they might buy smaller maps for local regional areas. And that's how they would figure out where they wanted to go.
Them lancome the nineties. And you know, I think that the dot com boom and suddenly MapQuest launches, and suddenly people could say, oh, I don't need to have enough gas in my car all the time. But before I go anywhere, I'm still going to plan my roof by What I'm gonna do is I'm gonna go to MapQuest put in my from to print that out.
It's not going to print all that, well, because I've got ads all over the place, I haven't figured out how to optimize my sheet for printing from my home, my home printer, or if I go to a kid goes or somewhere like that apprentice level, my friend, my neighbor upstairs that type of thing, and so we would put those out and we would go places and if the map got it wrong, we would end up where we didn't want to go, because there was some sort of glitch in the system, Then along comes Garmin and you have these Sitemap systems that are on cars. Hertz and eight this in the rental car companies is to make a lot of money by selling these as add ons, when you would rent a car in terms of how you want to get some of this stuff reading. This felt like the future was here, suddenly, I didn't have to plan on my trip that much in advance. I could just plug it in and off. I go.
And now, we're seeing more and more phone integration into between car, play, et cetera, that you have in, in cars and sort of embedded within. We start to see a lot easier way to get around and make it a lot easier. You can put in, for example, oh, I'm low on fuel. I need to find the nearest gas station boom if they're ready for it.
And so that's sort of from a technology perspective, but if you think from a human perspective, this has also changed how we think, and how we operate, right? So we went from a, we went from a behavior where we would very, we would very much plan what we were doing, where we wanted to go, who we would spend our time with, and you would say, hey, I'm going to meet you outside this coffee shop at 3 0 PM on Friday in three weeks time, right? So, we make plans like that. And over time, we've moved to less and less planning, in terms of our human behavior. Are human activities in factual, where we get to, always anyone around right now, and you can see who's nearby by looking on looking on an app, looking at your, your maps, et cetera. Or, in fact, we also know the rise in Ghosting culture that we have as well where you make plans and Nicholson last minutes. I think, we've all been. There are no, and not how that works. And so thinking about this, technology can actually change how we behave, how we relate to one another.
I think it'll be no different for the metaverse and immersive web as we move forward as well. So, it's always worth thinking about, this is not just a technology story, but it's a human story as well.
So, with us, that ties into the next page where we think about what are the watch outs. So, we started to say what you can start to do, but there's a few things to be careful about as well. I'm, the first one, is, you know, looking out for competition, or we'd like to say, watch your 6 or 3 year 9, or 12, any other angle as well.
So, if you think of, like, you know, back in 2007 launch of an i-phone, you start, you didn't have the app store yet. But you know, taxi services probably weren't expecting that suddenly. This was going to completely change dichotomy.
In fact, they probably thought that i-phone and maps and smartphones was actually going to be great, because now people were going to order more taxis to figure out where they wanted to go and then, along comes, it changes the game. It changes everything from that perspective and the spawn a bunch of copycat companies as well. And Uber itself has evolved over time. So competition can come from anywhere when you have a new technology starts to get adopted. So I would say watch out for your own category how you can re-invent your category, or even if a category itself disappears based on this new technology.
The second watch out is to be careful of just limited thinking. one of the things that we often do when there's adoption of a new medium is to take the old rules and apply them to the new medium. So if you think back to the first ads on TV, we're typically just a static image with somebody voicing over the other. Because what we do there were copying what they did in radio back in the time.
When web one and Web two started, what you had was banner ads and so you had suddenly banner ads which mirrored billboards that you would have out in public in sort of the earth versus We're now calling the, the, the the real-world, if you will.
And so don't be limiting your thinking to exactly following the rule book from yesterday because I think that could change as well. So we don't want to just be a new brand and another brand buying ads in this new channel to keep it like that. But think about how can we add value and create value for our customers and our consumers?
In this new medium as it emerges, then the final one is, you know, back, without example, I shared. And then, just go with maps Is considered a human nature, right. Any technology can be used for good, but it can also be used for about. Alright. So if you think of everything, we've had, you know, social media over the last number of years. It has helped people connect, it has helped people stay in touch across distances, It has help people learn, But it has also been divisive in other aspects from holistically to misinformation, et cetera. So we have to understand that.
This can always be used for good, and it can be used for about, onto the next page. So, you know, we shared a little bit of an intro, and this is really what we think of the intro to the metaverse and web three.
And so what have we talked about so far? We've talked about future planning. and so how do we understand the future and work backwards from a vision of what could be to think about what are the opportunities for our companies, the risks, the questions we want to ask of us? We can also start to think about the trend spotting. What's changing there? Is that digital, The gender divide going to going to change and we can start to watch out for things like that. Some of the stuff that Natalie share that you're really fascinating to keep an eye on, in terms of, do you want to go to a concert virtually versus in person? I, myself, land on the thing, I would love a concert in the metaverse versus having to schlep all the way somewhere. To sit down and be jostled around the mosh pit and it could just be my age.
Then, finally, Application and Usage, right. So, how do you start to use this technology, use these devices to, to build a better future for all of us? And so, that's a little bit of our intro. As we go a little bit further, into the next section, how do you find the right formula for you, for your company, for your brand? And there's a couple of things we think we can do here. What we're going to talk about is what's this broader context? Maybe let's dive into the future a little bit more. I think Nicole did a wonderful job of painting a picture of what the future could hold, and we'll talk a little bit more about that.
We'll talk a little bit about the audiences, these use cases could be four, and then how might those experiences actually get designed and implemented, So I'll start and then hand over to my colleagues to share it more.
So going back to, Nicole should have that wonderful sort of somebody going to buy a new sweater and you see it here on the left.
But you can actually think of other future scenarios and use cases as well, and this is where a lot of foresight will come in. We often start, like, like, to think about these from using it and imagine a world where one is able to do X, Y, or Z And so, if we think of 20 28, you can have thus that, imagine a world where somebody's going to buy a new sweater, the XR compacts, et cetera, that Nicole spoke about. But you might also think in that world. And in just a few years time, you might think about, instead of watching Netflix at home, you virtually sit on a beach in corfu to unwind after a tough work day and that can feel very, very real to you.
Fast forward, another couple of years, and you're training new employees at your company and your goggles sharing with them. So that they can start to view the world from your exact perspective. They're actually seeing what you're seeing, hearing what you're hearing.
And then made you imagine surgeons, right? We can think of other use cases. And a lot of this is outside of the consumer realm, but think of a Search and virtually performing Tamara's Open Heart surgery three times the day before using a Digital Twin of your body.
So lots and lots of potential there. Again, password, another couple of years. Imagine, you know, we still think of our smartphone as our big device purchase. We have every year, every two years, for many people, and that's been built into how we operate.
But what if this immersive three, in one xsara, AR, VR glasses, becomes the big tech purchase that we all started.
That becomes the hub, versus the phone in our pocket that connects our Earth first with our metaverse life, or you might start to think about these inter virtual worlds passports. That's a new type of security. Measure for figuring out where you're going, when you can go to different places, because you're visiting a client secure metaverse. Like, let's just say, it's from our perspective in the service, as well. So, so we can start to think of all these various use cases. They're not always going to be consumer facing. They could often be the B2B applications that are equally, if not more powerful in terms of how we use this.
So, with this, let me hand it back over, and we can talk a bit more from Natalie on where else we are.
Great, thanks. Yeah. And, you know, it's interesting if you think about these scenarios and the adoption cycle and when people will start to feel really comfortable, the vow of excitement.
And it's interesting.
As we look at the different groups we talked earlier about the gap between men and women, but at age, there are many other factors that are influencing the audience and the appeal and interest of moving forward in these immersive experiences.
one of the really interesting parts that we found in the study was it's not just about gamers. And fast, if you describe yourself as a creator or an influencer, you have the strongest highest level of interest in participating in these kind of immersive experiences.
Couple of other interesting things about that audience, with their nearly doubled the likelihood to Ashley on cryptocurrency 62% versus 31 overall, and really highly index on many of the measures across the various areas that we investigated in the books regrow.
The other really interesting part is the role of devices.
So for example, if you own and off this headset, your score on this immersive three index is much higher than if you do not so clearly, the role of devices.
And we talked about how that's going to influence this adoption and engagement, but also the level of experience that people will have as they try these out, and they move increasingly into the areas.
So what are we looking at in terms of people telling us in this virtual and augmented reality world?
And overall, we have wanted to say that they've had some activity in VR. So the highest of that is in the VR gaming, with one in five saying they are doing that weekly.
Also, spending time with friends. Participated in wellness and fitness, and you can see a variety of other activities.
And some people might say, I'm not sure, Is this really true?
You have this question of people spent this amount of time, and these activities, What's interesting is that, even if it might not be our definition. This is a spectrum so it's not an either or, and if people believe that this is what they're doing.
It also really improves that opportunity for them to participate as they move farther and farther and farther deeper into the types of Emerson and the different types of activities that people can participate in.
So the language and words become actually quite interesting in terms of what people think they're doing, and maybe how others are technically described.
And, for example, if we look at that in terms of level of VR and who's active, I just wanna point out a couple of things here. Again, we have the men versus women by age, but if we go to the LSI, I remember the overall average was 49%.
Among those who define themselves as traders or influencers, 92% say that they're active and participated in virtual reality.
63% among gay marriage, 90% among Oculus owners. And interestingly, all, those are certainly higher than even if you've on a gaming console.
So, a variety of different groups. And again, we're starting to see this splintering in some ways of those that are engaged and feel that they are interested in doing these activities and those that maybe are lesser sentence.
Looking at Augmented reality, Yanis showed a few examples of how that will work.
Again, we have about 45%, almost a majority who say that they participated at some level of activity with our highest here. Again, video games. But about one in five say they've used in appearance. Alternate Filter on social media.
Maybe some people on this meeting have done that, or senor, friends, or family. I participate in those kinds of sometimes, and often very entertaining experiences.
In-store shopping, decorations, and variety of other areas in which this ... are used.
So on that, I just wanted to look at the role of avatars and another area that we look at the survey, and it's really interesting as we talk about web three and the spiritual reality, what it means in terms of how people will represent themselves. We wanted to get into that a little bit.
So about 45% of this, 13.55 audience, it created an avatar. Again, it's higher among that graders and influence his group, And of those, three quotas have actually created more than one avatar.
If we look at the lower satisfaction, can you create an avatar that actually represents who you are as a person?
About one in three say yes, you can see again, men, much more likely than women, to say that they are set, very, satisfied with their ability to create an avatar that represents who they are as a person.
Finally, just another note on our gamers. In this sort of more of the fun, entertaining facts have a feel like it, teen gamers.
Two thirds actually say that they would rather watch someone else play video games than either much popular TV shows, and a majority would actually rush to save their video games because our house was burned down.
So some other, we have some other interesting facts about whether they'd rather game or each and various other statistics on this, The wrong commitment, gamers, including the fact that they spend it.
We have about an average of $150 a month among those who actually spend.
So I'm going to now turn it over to Diana and then we'll move back to Nicole to hear from you and get some questions.
So as you saw there, you know, given the potential of immersive experiences, we'd like to see that awareness progressed to activity. And for that to happen, though, we need to make sure that the UX of these immersive experiences drives engagement and referral to your friends and family, right?
So, designing a great user experience will require your organization to be clear about the purpose of the experience and the needs of the user in that experience.
For example, if the purpose of your experience is pure entertainment, then you'll need to think about what is needed to make it easy for multiple users to gather in the experience?
Then, you're going to have to be prepared for more open-ended, expansive scenarios where the users contribute and participate together.
In a training experience, on the other hand, it's more likely to be a single user or one-on-one experience, and the experience will probably have a defined start and end point.
It's also likely to be guided, or a focused experience, to ensure that the user isn't distracted from the important content that they're trying to learn.
All of these experiences must also be designed for the context of the experience. So if you think of in the example of training, you may be able to anticipate that the user is going to be in a controlled environment with reliable access to stable WI fi.
On the other hand, many experiences entertainment are going to happen in the wild, probably with patchy connectivity, distractions, and users on a variety of devices and operating systems.
And since users are going to be using different kinds of devices, to access immersive experiences, you will need to know what devices your users are choosing for the different types of experiences you want to create, Then you have to design experiences that will work across all of the possible relevant hardware. So, it won't just be a question.
as it has been in the past of Mac versus PC, or Android versus i-phone.
It's going to be all of those and more, and many times, one user will be accessing your experience across multiple personal electronic devices, Like the image there on the right.
Interoperability and portability will be required to enable seamless experiences, where user data flows smoothly across those devices and creates a seamless experience.
You're also going to want to be aware of interoperability, it's going to be key to gaining audiences since walled gardens are currently a really big obstacle for, for people to socialize in immersive experiences.
So we'd advise you, as you're thinking about, what these, how you're going to design these experiences to focus on three main considerations.
First, keep it simple, right? These experiences are hard to create, but they can be really compelling.
So take the time to figure out what adds the most impact to the current experience, or is going to add an impact to a new experience.
It doesn't have to be super complex with a lot of bells and whistles, to be an amazing experience, And remember that access limitations, like internet bandwidth and hardware, will impact how well your experience performs for each individual user.
Next, strike a balance.
Aim to provide consistently high quality experiences with equipment that's affordable, easy to onboard, comfortable to use, and reliable.
And, finally, remember that these new technologies are complex. They are more technical, they're heavier, they require more computing. And a lot of users will be learning the hardware at the same time. They're getting familiar with the immersive environment. So you need to be prepared to help them troubleshoot when glitches and errors occur to ensure that they want to come back for more.
From an ITIL standpoint, this is moving rapidly.
In fact, people do expect this to be part of our day to day lives in the next 2 to 5 years, by consumer somehow doubt. And there is a tension in some ways between this interest and some of the concerns over privacy.
We do have majority aware, and there is among, particularly certain groups within the public, really strong interest in levels of engagement and participation in these elements of Web three.
So, being able to track the trends, the attitudes, the reactions, and how people are actually engaging is really critical to help optimize. But, also understand how you can touch those groups that may not be quite there, have that level of enthusiasm that we're seeing among certain audiences.
Then, finally, as you think about how those audiences want to have these experiences, we would just encourage you to remember that web three is going to involve far more complex interactions and experiences.
The experiences that gain audiences and buzz will be those that deliver a seamless, intuitive experience.
All the way from onboarding into the environment, to multi user interactions. And so, users do have high expectations.
A lot of the times may be ahead of the technology, and so, you really do need to think about how are you going to make it seamless for them to try out your experience?
It's also, you know, a big part of that is it's critical to test with real users, before you launch, to make sure that you solve those issues that could create barriers to a great experience.
And, with that, I think we're going to share, you know, a little food for thought in questions to consider as Nicole also, take some questions from the chat.
I think, that was really wonderful. I really, really enjoy everything that everybody had to say. It makes me think all the time we covered. So much today, recovered strategy and positioning audience trends, technology There are many twists and turns when it comes to my three.
And, no matter your role within Rev three, there are questions. We have questions all the time, as you can see, and we have some on the screen in front of you, but we work together to gain awareness, and and answered all of those.
So, we do have time, and we do have some questions coming in, so I'm going to grab you, and we can just kick it off.
So the first question is, What are the most common misconceptions about the metaverse?
Maybe Yana could kick that one off.
Sure. So I do think that there is perhaps the sense that there's a metaverse out there, that we can all go play in and interact when the reality is all those things that it takes to make a seamless experience are still being patched together. And so while there's work being done and the hardware is being developed, there are still a lot of gaps in those experiences, it's not seamless yet. And so, so we may need to be thinking about expectations of our audience and also just expectations about how far you can jump in as you're starting to think about, you know, what's the experience that you want to create?
Maybe I can just add to that.
It's interesting, again, we talked about this idea of a spectrum, Philip share, how technology evolves but also in that circumstance, hear about people maybe moving into certain areas and touching 1 or 2 is. And so this is this will not be like a stair that people will gradually.
And as they get more comfortable, increasingly move into this and we'll see the technology move along. So, you know, even if we think that we aren't there yet, people actually think that they're doing things in these kind of immersive experiences.
And so, there may be actually a bit of a disconnect between how people are viewing what they're currently doing, and what our vision is in terms of metaverse and immersive experiences, and it may actually not be as far off as we think.
All right, so, to the next one, What are ways to measure the success and ROI of initiatives within the metaverse?
I can take that if you'd like, Nicole, so, yeah, I think that's, that's an interesting one, because there aren't that many companies out there who can probably do a true ROI on all their activities right now.
So, those might be actually think of roadblocks or Niantic who are doing you know, Pokemon Go, for example, right, or you're having experiences like that the majority of companies I think the Roi is not quite there yet.
And, in actual fact, I don't think it should be, Well, I think, is more important is for companies to think about what, what do they want to get out of where we are, knowing that we're in this initial phase, right? So, thinking about, are we looking to, know, for us, success? Is everybody in the organization understanding the vision for what that is? And that's what success. And that's something we should track, is another piece of it. Just trying to try things out and actually test ideas, or try building new environments, or, like we say, online retail environments, et cetera. And there might be a media rely on that. But it's really good to be more about that long term view, Are we building our capabilities for tomorrow. Rather than trying to actually gain dollars and cents from our activities today.
Um, so I think take the long view is the, the best way to answer that for the majority of companies.
Um, see, what are the, what are some common questions you get from clients about Web three? Maybe, Natalie?
Maybe you could take that one.
I think all three of us probably can comment on this.
And some of the major questions are, And what does, that what are people's level of understanding?
What does this mean and what are some of the experiences that people are receptive to in terms of these different areas and types of experiences?
People are asking about the expectation of brands and how will people react with my brands in the metaverse and F are not in the metaverse, should we need, or should we wait?
And how will consumers react to that, and what other expectations? So, I think there's a lot about just that whole idea of adoption, and the barriers to adoption, as well. So, is this going to be inexperienced, accessible?
I think, again, Phillippe touched on this, some of the, some of the different areas that might be risky. Or maybe, what, did you say, the good and the evil parts of this? But maybe, what are some of the risks? Should I be anonymous? How do I act in this diverse experience?
So, there's a number of societal issues that I think are also coming up as questions that we have to consider. So it's not just about the commerce and maybe some other concerts.
The class issues about how I represent myself, How do I create an avatar, and should I create one that looks like me?
So, think there's also a lot of emerging issues that we're getting questions around, how consumers will both represent themselves and the freedoms, and maybe barriers that they may experience in the spiritual worlds.
Yeah, oh, sorry, I got to fill up, Did you want to add to that?
Natalie covered quite a bit of it.
All right, well, I, we're at time, but if there are any questions that we didn't get to, as Ellen mentioned, we will wrap up now and then now I'd like to hand it back to LA and just to close out, you know, and end the webinar today.
I just really want to thank you Anna, Nicole, Natalie, and fill up for really interesting presentation. And I want to thank everyone for joining us. I wanna remind you that there are some reference handouts in the event control panel for more about the research we share today and also to be on a lookout for an e-mail with a direct link to today's recorded presentation.
Of course, at any time, we welcome the opportunity to speak with you, so, please feel free to reach out to us directly.
That now concludes today's webinar. Have a wonderful day, everyone.