When the word Metaverse was mentioned by Mark Zuckerberg Founder of a giant social platform the whole world turned to what it was. How does it relate to our lives? Chanon Traising, Senior Software Engineer, SCB 10X Co., Ltd. will share the story of the Metaverse world from its inception to the present. and explore the technologies and business opportunities that come with this new world.

What is Metaverse?

The term Metaverse has been around for a long time, but it became more popular late last year that Facebook changed its name to Meta, which means Metaverse, meaning the physical world. Which is not just playing games alone. But going to live, meet people, work, etc., is a virtual world that is parallel to the real world. Mark Zuckerberg sees the Metaverse to connect with people more than just typing, posting photos, and videos on Facebook, but going into another world and meeting people. It was a realistic experience that was different from what it is today. The Metaverse is therefore a matter of Social Connection and Immersive Experience. still in the initial stage Many companies have come to research and experiment, which has resulted in a clearer picture of the Metaverse world.

Chanon said that the Metaverse world has evolved over 2 decades. In the early days, it was very similar to a game called “Single, narrow experience”. The next era when the Internet Thus, online games such as Raknarok were born where people played games together as “Multi experiences around one game mechanics”. In the 3rd generation, the concept of "User-defined experiences" develops from the original online games to have more diverse experiences, for example "Roblox" has a selling point that gives creators the tools to create games on the platform on Roblox. a huge variety of games. In modern times There was a question that in addition to being a game Can the virtual world does more than that? Many businesses began to think more than games. Bringing the concept of New Economy in Virtual Space.

>The technologies that make up the Metaverse world can be divided into two groups. The first group is “Experience”, which is the easiest to access by users, and the inner group called “Infrastructure”. It is the technology behind the Metaverse world, such as Internet speed, Blockchain, NFT, etc.

For blockchain It is one of the technologies that help the ecosystem of Metaverse to collect data in various nodes scattered around the world. We have ownership of the data. The platform does not have the right to own the data. will not be able to edit or delete the data. As for Non-Fungible Tokens (NFT), non-tradable assets. No matter how similar they are, such as art, where the original and the reproduction have different values.

Blockchain technology adopts the Non-Fungible Token feature that when any asset is created on the blockchain, everyone created has a unique blockchain id, it can be tracked how many assets it is. Who owns? Currently, NFT is used in art, bringing NFT to exchange for real products and services (Redeemable) and using NFT as tickets to various events. Solve the problem of fake cards sold overpriced because NFT can check all the information. Various game items purchased Our in-game assets can be traded and built on other games. Even the current game is closed.

As for Experience, seeing the world, Metaverse has 3 main technologies: 1) Augmented Reality (AR), allowing users to see the digital world overlaid with the real world through glasses, mobile screens such as Pokemon Go! 2) Virtual Reality (VR) will as opposed to AR, when wearing VR headsets, it enters the digital world. 3) Mixed Reality (XR) Mixtures between AR and VR that are in the real world can interact with the digital world. Out of these 3 technologies, there will be a VR Headset as an important device. It is predicted that more people will use VR in the future. And VR glasses have been developed to have a variety of functions. More realistic displays such as Hand Tracking, Retina Resolution, Face & Eye Tracking. Currently, Metaverse platforms are divided into 3 main groups based on core technology functions:

Blockchain Group has a decentralized selling point. Ownership Trade Digital Assets/NFTs across platforms Use Tokens Trade in Metaverse like The Sandbox, Decentraland, Cryptovoxels, Somnuim Space.

Social groups focusing on interactions between people, realistic, like talking to real people, such as Zepeto, Horizon Worlds (Facebook's Metaverse), VR CHAT, RECROOM

Game group focuses on fun. It is a game that allows creators to create business-related experiences on platforms such as Roblox, Minecraft, Fortnite.

Opportunity to expand your business in the Metaverse world

Chanon mentioned that by 2024 the Metaverse market will grow to more than $8 trillion. And it is seen as a new opportunity that many businesses want to try new things in the world of Metaverse, where Gen Y and Gen Z groups are the main force that will drive Metaverse easier.

In addition, from the fact that Metaverse was born during Work from Home, which from the management point of view that there is a pain point in creating an organizational culture, the Metaverse “Gather Town” “Horizon Workrooms” technology has been adapted to meet the interactions. With People, and Metaverse also enhances the collaborative experience with others to watch entertainment such as live concerts, sports, movies, in an immersive atmosphere.

For SCB 10X has invested in The Sandbox and has developed a head office in Metaverse divided into 3 zones: past, present, and future, reflecting the image of Thailand from the past to the future. Emphasis on usefulness in 3 areas: 1) Virtual Hub organizes technology knowledge sharing events Create a participatory experience, 2) Virtual Land for business partners to carry out activities to build on the project, and 3) NFT gallery, an exhibition and concert space. Support Thai artists to the world market

There are many new opportunities with the Metaverse world waiting for us to discover. Are we ready for the new world yet?

Source: Seminar "Mission X" The Boot Camp pf Advanced Corporate Transformation Class 4: Metaverse by Mr. Chanon Trisingh, Senior Software Engineer, SCB 10XTenX Co., Ltd. July 5, 2022