The New Era of The Internet is Changing Everything
We have too many digital game stores and streaming platforms, and the users are starting to feel the pinch. Subscription fatigue is setting in, making monetization challenging for businesses.
Moreover, we are on the cusp of a new version of the Internet, one where entertainment will be an interwoven concept label that will be paired with games. Metaverse will be at the helm, and digital transactions and monetization methods will show a rapid transformation. Saurabh Tandon, president and board member at Affine, recently shared his thoughts on this.
We now have blockchains in the mix, which could change the entire economics of monetization for both creators and businesses. Like it or not, the metaverse may very well become a pivotal player in the global economy.
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Physical and virtual lives will bridge for a unified experience
XR (Extended Reality), a fusion of Virtual Reality, Augmented Reality and Mixed Reality technology, will pave the way for our future entertainment content requirements.
So what does this mean for businesses? Big Tech giants rule with an iron fist, and content moderation is a gray area in the current climate. “With the next generation of the Internet, we’re looking at decentralization and a leap of technology,” said Christopher Lafayette, founder and CEO at Gatherverse, speaking at a recent virtual summit.
Advertising has already changed since its inception, and today it is focused on content creators and consumers. With content creators and influencers, advertising has taken center stage and helps advertising find takers in the form of consumers with their large subscriber base.
Non-Fungible Tokens (NFTs) are now trending and are set to be a digital form of payment, allowing users to buy and trade digital assets. With users creating communities for such a “digital marketplace”, the monetization playing field is in dire need of an update and cannot rely on traditional practices.
What is the future of monetization?
The future of monetization with web 3.0 may be questionable, but the majority of web3.0’s focus is on decentralization. The user is at the core; and will be the driving force, be it content, advertising or monetization. Customization is the need of the hour for businesses.
Of course, the traditional payment methods will remain. But businesses must recognize the fact that blockchain will be thrown into the mix and change the dynamic of the digital economy. Rafael Brown, CEO and co-founder at Symbol Zero, who was a speaker at a recent tech symposium, said: “PC and mobile gaming have established a monetization economy. As technology changes over time, we need to reevaluate our assumptions. The need for the hour for blockchain technology is to create sustainable monetization.
The tech summit brought together more than 20 global leaders from gaming, media and entertainment to participate and unravel the direction we, as technology-driven humans, are headed with web 3.0. With discussions on monetization, metaverse, subscription fatigue, OTT platforms and many more interesting topics, the virtual event was a hit across the globe.
Affine combines the hyperconvergence of AI, data engineering and cloud with deep industry knowledge in manufacturing, gaming, CPG and technology. Affine demonstrates thought leadership in all relevant knowledge vectors by investing in research through its highly recognized centers of excellence and strong academic relationships with reputable institutions.