The Future of Metaverse Through African Economic Lenses

Credit: Harvard Business Review
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By Omiat Jacob

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The majority of the technological advancements in the world tend to find the African tech community seated at their backyards, still trying to comprehend through benchmarks, how the previous revolution propelled the Western world.

This is very sad for a population of worth 1.4 billion and the majority being younger than 25 years.

Logically, Africa, with all the much-needed resources available at throw stone away and an abundance of human capital, should not be one consuming what others have provided, but rather, become one who innovates for her own, and the rest.

China was just like us a few decades ago. But through determination and able leadership, china has not only become an industrious hub but also the second biggest economy globally.

Therefore, while offering services geared towards the development of web3 and metaverse, Africa this time, will not only become a participant but also a contributor to the next revolution. Yes, that’s a bet we are not willing to lose. The COO of Microsoft, Satya Nadella correctly points out that “The metaverse is not just transforming how we see the world, it’s changing how all of us ACTIVELY participate in it”.

If it is about skilled manpower, I want to admit that African society is the most flexible workforce;

They can work in harsher conditions, and under pressure, and are very adaptive to any kind of work given to them. Just imagine the African doctor, he gets exposed to a variety of curricula at his early stages of education of which, he is bound to excel before he begins to specialize in the medical field. Many have actually performed best in their specialty.

Read Also: Metaverse and Cryptocurrency in Uganda – My Thoughts

So, others would say, how will all this benefit me the common internet user?

Well, the future of the internet to a typical African consumer is going to involve the use of blockchain technology accelerated by the web3 architecture; most of the content you see today on the website’s landing pages will be immersive in nature, in other words, the virtual self of the internet user deep down in Kampala Uganda will be able to tour the Tesla Gigafactory in Germany and if that one doesn’t impress, switch to Toyota in japan without moving an inch from his main lounge. All that through the 3D avatar of that internet user.

The future could allow us to use sunglasses to access the internet for news updates, weather forecasts, Google Maps, do shopping online, research, and even play video games. All that incorporated in that small sunglass while still providing a clear vision ordinarily.

Unlike other past investments that have failed to see the light of day, this one seems to be the big bet for major tech companies like Amazon, Google, Meta(Facebook), Apple, etcetera. Greater investment capital is being directed to the development of metaverse-related projects, and the odds for success are great. Should African tech companies sit back and watch? Am sure the answer is no.

As a Techpreneur, how are you going to benefit from this type of technological advancement?

So, if you’re a gaming development company, a 3D graphic and animation designer expert, perhaps the next decade could become yours. You could be the future that defines metaverse and web3 investments here in Africa and later on, the world all over.

Because the content greatly required for the metaverse concept to manifest is entirely dependent on you; The 3D animator, graphic designer, and of course the software developer.

You can also invest in the medical field that operates under virtual technology- the doctor doesn’t need to physically be present in order to carry out surgery on the patient, he can do it virtually.

The law firm that specifies on blockchain niche, the education sector where the system invests in simulators in order to enhance the learner’s scope and many others.

Even in gaming, for example, we see the gaming platforms like Fortnite and Roblox trying out that concept in their games.

The future of advertising is going virtual with customers having to visit the showrooms from the comfort of their leaving rooms – this one is partly happening already, like during the height of the pandemic, many companies and conferences were going virtual. So, how far are we willing to go? The simple answer is metaverse. There is even news going around that most tech companies will cancel in-person attendance save for the virtual one instead during CES 2022.

In the metaverse decade, which surely we are heading for, simple VR (virtual reality) headsets could be as popularly important as smartphones these days. Literary, every internet user will be owning one. If you invest in making some of these VR headsets or, part of its hardware or software. You would help in minimizing the shortage and this would never disappoint you. Many advertising companies will invest in them, in a way of getting their products to the final consumers.

Perhaps many will even offer them at a discount when you buy those which are software customized with the company system. I mean, for example, if you buy one from Amazon, you will be able to have unlimited access to their store.

Apparently, VR headsets seem to be expensive only because not so many companies are venturing into manufacturing them and if they are, then they are in their early stages. Like it was with the smartphones and mobile phones during the early stages of their introduction – very pricey. And yes do you see how mobile phones and smartphones, in particular, have evolved over time? you can even substitute the price of pizza for a phone these days. That is how far the VR headsets are willing to evolve.

And in terms of the hardware evolution, they will evolve down to the normal sunglasses we own now.

As an African, the future under Metaverse would surely make good money in your pockets.