GamesHUB #10 | Impact of the Metaverse on the News Industry

It’s important to understand the impact of the metaverse in the whole news industry.

I introduce myself as a journalist, but I am a professor too. What we’re trying to do is some kind of research on how people are consuming content around the world, mostly in Latin America. It’s a very simple job. We have two big categories.

One of the channels where information goes from one place to another, and then there are formats where this information is being displayed in between the channels. For example, social media. Instagram acts as a channel, and the Reels and Stories act as formats within the channel.

Now, yearly, we are trying to discover those channels with formats, and metaverse is game-changing. It is a combination of all the channels and formats that we have been creating for the past two centuries.

Metaverse is a whole new world. Today, anyone can write an article based on a tweet. It’s pretty simple because there’s a whole Internet at an easy access. But it doesn’t work the same in the metaverse. You have to know the technology and to break all the stereotypes about the virtual platform. Secondly, you have to create content, for example, for news corporations.

For example, there’s an opportunity to involve readers and viewers into a crime scene via a gographics camera in the metaverse. So, this is a whole new experienc

It depends on what type of corporation we’re talking about. For instance, big corporations are involved in luxury markets. And it is truly impressive to see how they’re performing.

However, in Latin America, companies usually don’t have a lot of money. Most of my clients don’t have any budget for Metaverse next year. Therefore, we have to be very realistic.

For me, is it even more important to understand why not is the moment for the metaverse being implemented? The answer would be we are living in the reputation economy. In this type of economy it doesn’t matter what you are producing or trying to sell, because all these commodities are pretty much the same.

It’s not as important what brands are trying to produce and sell as who they really are and what their mission is. My job is to create value for the companies and to kind of transform that company into a human being.

Number one thing I’d advise is to discover what really and truly is happening out there in the metaverse. You can check the marketing side of it or operations; also, you can see who are your potential competitors.

Metaverse doesn’t end any process in the reality we are living in; it’s just a new trend and a new virtual reality where we all will find our place eventually. It is kind of mandatory.

The other advice would be to create something. Anything that interests you and brings unique value to your audience.

You know, intellectual properties are not respected by law in Latin America. And NFT is a big market. It is quite difficult to understand what’s happening out there in news organizations and industry overall.

Yet, we are trying to do everything possible for the government to respect unique pieces of content and stop sharing it with others.