- Forbes embraces Web3 technology.
- The Sandbox estate contains interactive experiences.
- The metaverse narrative is making a comeback.
The metaverse concept looked done and dusted last year as Meta quietly shuttered its virtual reality (VR) project. However, in an unexpected move, Forbes recently announced acquiring virtual land in the Sandbox ecosystem, reigniting expectations that the metaverse narrative is making a comeback in a big way.
Forbes Creates Interactive Experiences
Geeing up expectations of a metaverse comeback, Forbes explained that its Sandbox land acquisition was about embracing Web3 technology while also demonstrating the company’s commitment to the “transformative potential of the metaverse.”
Visitors to the Forbes plot can expect nostalgic glimpses into defining moments from Forbes’ illustrious 100+ year history and experience more contemporary offerings such as viewing the Forbes 30 Under 30 gallery, participating in workshops, and attending virtual events.
QR codes are placed throughout the Forbes estate, enabling visitors to access games and interactive experiences with the hope of boosting user engagement. Taha Ahmed, Forbes’ chief growth officer, commented that the Sandbox land acquisition represents a new way to connect and interact with the Forbes community.
“By establishing a permanent presence in this digital realm, we are opening up new avenues for our community to connect, learn, and grow together in ways that were previously unimaginable,” stated Ahmed.While Forbes proclaims the community-building benefits of the metaverse, many assumed the concept of virtual worlds died when Meta pulled the plug on its VR project.
Metaverse Hype Returns
After sinking $36 billion into its VR project, Meta’s u-turn last year sparked what many thought was the end of the metaverse as a viable mass market concept. However, that narrative flipped in February as Apple released its Vision Pro “spatial computing” headset, thrusting VR and the metaverse back into the limelight.
Less than a month after its launch, industry experts have weighed in, singing the praises of Vision Pro. Amna Usman Chaudhry, a financial economist, commented that the hardware made emergent augmented reality and spatial computing technologies more identifiable to the masses.
Rebecca Barkin, CEO of Laminia1, added that the smooth integration of the Vision Pro into Apple’s ecosystem is a big deal in driving mass market adoption.
“When a market leader with a unified product portfolio, massive install base, and arguably unmatched brand trust commits in this way, it matters,” stated Barkin.The Vision Pro differs from other VR headsets in that it features external cameras that visually pass through real-world surroundings that can be generated for the headset wearer. Coupled with hand gesture controls rather than clunky controllers, the Vision Pro offers a more immersive experience.
On the Flipside
- SAND is down 94% from its $8.40 ATH in Nov 2021.
- The metaverse market is expected to grow to $937 billion by 2030.
- Critics argue that the metaverse has dystopian elements based on social isolation and detachment from reality points.
Why This Matters
Forbes is positioning itself as a trailblazer in the early adoption of metaverse technology. Should user numbers surge as anticipated, Forbes’ strategic move could solidify its status as a pioneering brand, paving the way for numerous other publishers to follow suit. However, it’s worth noting that the Sandbox, while promising, still lags behind augmented reality in terms of realism.
Learn more about how the Sandbox works here:
The Sandbox Review: Web3’s Digital Playground
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