Last Updated on January 29, 2023 by newseditor
In December 2009, James Cameron released the all-time highest-grossing movie. It remained at the number one spot at the US Box Office for seven consecutive weeks. Avatar was a massive commercial success. The visual effects were a significant reason for its success. Several new visual effects had to be pioneered during production. 90% of the people that saw Avatar watched it in 3D. The viewing experience left many people clamoring for the virtual world of Pandora. It is not an overstatement to assert that Avatar changed the film industry with subsequent movies using Cameron’s innovations. It is largely undisputed that the Metaverse will transform the entertainment industry like Avatar in 2009. The more important question is how.
Since the earliest days of the entertainment industry, there has been a focus on improving how stories are told. We have gone from oral tales to drawn works to written accounts to puppets and so on to lead us to this current era where we can combine the best of these means of storytelling. Yet the Metaverse will likely take this to the next verse. Historical stories make for good drama. Movies about a Gladiator in Ancient Rome or an Astronaut in Space have attempted to recreate a particular moment for their audience. However, nothing can compare to the Metaverse, which can build storytelling with deep immersion.
One of the entertainment industry segments likely to benefit the most from the Metaverse is the Videogame industry. Virtual Reality (VR) gaming has improved significantly in the last few years. VR technology and headsets have been more accessible and better received. VR games The Walking Dead: Saints & Sinners, Half-Life: Alyx, and Superhot VR have received good reviews. The VR gaming market is estimated to be worth $42.50 billion in 2025. VR gaming is still in its nascent period, but it is not farfetched to see how a metaverse could function as a hub for VR gaming. A successful collaboration of VR gaming and the Metaverse will dominate the traditional video game industry.
Although Virtual concerts are not new, they seem to have taken off in the last few years. A virtual concert is a performance where avatars represent the performers. This could be in a physical location with a virtual avatar or a fully digital experience. The Metaverse will allow musicians and other performers to perform virtually. In 2020, Travis Scott had a virtual concert on Fortnite that more than 12 million players watched. Virtual concerts allow performers to unlock new possibilities in their performances. You can change outfits and even stage instantly at a virtual concert. A virtual show can also offer a more personal experience to an unlimited audience.
The impact of the Metaverse might even extend to Sports entertainment. For fans of different sports, the opportunity to watch their favorite teams close up might be too much to pass on. The Metaverse could be a means to submerge people in their favorite sports. Imagine being able to experience a basketball right in front of you. Everyone might be able to get the best seat in the house for a game. This might affect going to watch games live.
Fans are one of the most critical parts of the entertainment industry. Most people have one fandom that they relate to in some manner. This could be for your favorite movie franchise, your sports teams or a musician, or even your favorite video games. The Metaverse will allow fans to express themselves even more. Fans can create versions of their favorite franchises or alter the actual history of things. Fans might choose to exist in the Metaverse of their favorite fandoms. Tiktok, the largest growing social media platform, has managed to democratize the creativity of the average person. This has created a new TikTok entertainment industry, spreading its content to other social media platforms.
A Metaverse that delivers on its promise of a different reality will undoubtedly change the entertainment industry. Naturally, the entertainment industry is quick-paced. The Metaverse will only be the latest catalyst for a dynamic industry. Each of the major aspects of the entertainment business, sports, film, music, and video games, will become more individual-friendly with the aid of the Metaverse. However, it is most likely the fans that will benefit the most from the Metaverse.