WWE is looking into the possibilities of getting involved in the metaverse.
The next question is what exactly is that? The answer to that question is a very complicated answer. The metaverse is a concept, but it is also an actual place which can be visited virtually. Eric Ravenscraft of Wired describes it as follows:
“To help you get a sense of how vague and complex a term “the metaverse” can be, here’s an exercise to try: Mentally replace the phrase “the metaverse” in a sentence with “cyberspace.” Ninety percent of the time, the meaning won’t substantially change. That’s because the term doesn’t really refer to any one specific type of technology, but rather a broad shift in how we interact with technology. And it’s entirely possible that the term itself will eventually become just as antiquated, even as the specific technology it once described becomes commonplace,” Ravenscraft said.
Explain It To Me Like I’m Five Years Old
I think the simplest answer is a communal online shared world like the world in the movie Ready Player One. This idea of a communal social space isn’t that different from the social media we already use everyday like Twitter, TikTok, Instagram and Facebook. The concept has been around since the early ‘90s and the Snow Crash novel. However, in recent years the idea has taken off as technology has become advanced enough to make the concept a reality.
Recently the concept really blew up when Facebook/Meta Platforms chairman Mark Zuckerberg pledged his commitment to launching their own form of the metaverse, Meta. The involvement of Facebook introduced the concept to a much more general audience.
During last week’s WWE Q4 2021 earnings call an investor asked about the metaverse and if WWE was interested in getting involved. WWE isn’t new to using augmented reality or virtual reality and have dipped their toe in those waters lately, but metaverse would be a very different kind of commitment. They were also asked if they were interested in using the AR/VR aspects of metaverse to strengthen the WWE product.
WWE Looking To The Future Of Technology
Chief Brand Officer of WWE Stephanie McMahon took the question and revealed that WWE has already thought about getting involved in the metaverse and are doing their due diligence before getting involved.
“Yes, we are absolutely exploring the metaverse as an opportunity for WWE, especially as the theory unfolds that that’s really where more and more people are going to go to connect and socialize,” McMahon said. “WWE is a community-based business. It’s all about our fans coming together to share this experience. We think there’s huge opportunities to expand upon that in the metaverse itself.
In terms of our approach, we’re doing our due diligence, we’re meeting with various different partners. We’re learning as much as we can. We don’t want to be hasty in this space. That being said, we certainly don’t want to be behind. We always like to be slightly ahead of the curve. So it is something we are actively involved in and investigating and looking into.”
The metaverse is something which is still in its infancy as far as its use and how much more it can develop. It is hard to imagine how WWE could or would use it besides having a Superstar in there and having fans interact with them. It would be like a meet-and-greet, but completely in the metaverse.
What do you think about WWE getting involved in the metaverse? Is it a good idea or a bad idea for them? How do you think WWE could use the metaverse to help their product? Let us know if you would get involved in the metaverse if WWE has a part in it.
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