The Metaverse is likely to be a digital twin of the real world, as it will consist of virtual depictions of various people, places, and things found in the physical world. The whole media and entertainment sector is ready to undergo a paradigm shift with the birth of the Metaverse.
The gravity of it is starting to dawn on not just billion-dollar companies, as reflected in Facebook’s title change to Meta, but everyday people who can see that the future of mankind is becoming increasingly digital and will soon be based on a virtual world. The cohesiveness and blending of reality and its rising adaptation and interaction with augmented reality are described in this virtual environment. Partho Dasgupta, the former CEO of BARC, talks about the revolution the metaverse will bring to films and television.
The COVID-19 pandemic has transformed the way we connect with and within the world. Digital is the road to the future, and industries that adapt to the metaverse now will undoubtedly gain a competitive advantage. “One such example is Pooja Entertainment, an Indian production company which has stated that it has purchased virtual land in the metaverse for its next productions, under the banner Poojaverse,” informs former CEO of BARC, Partho Dasgupta.
Also, the trailer for Prabhas’ debut film Radhe Shyam was unveiled, and received a positive response from spectators on Metaverse. We can see how it can revolutionise entertainment conceptualisation and consumption in the future as this new technology develops traction in India.
Partho Dasgupta, the former CEO of BARC and present Managing Partner of Thoth Advisors informs, “There are significant ramifications for filmmaking as scenes shot in the actual world can be projected into the Metaverse, and shooting can take place in a virtual world using avatars. This will decrease the need for a live location, crew, and filmmaking equipment such as lights and sound. It’s unclear how much money can be saved in this procedure because the savings will be applied to the hire of Metaverse programmers and experts. The good news is that physical barriers to filmmaking will be removed, and access will be unrestricted.”
Talking about film and TV exhibitions, people will no longer be required to physically walk to a cinema hall or multiplex to watch movies, which will revolutionise the film viewing experience. Their digital avatars will attend movie shows in the theatres.
Partho DasGupta former CEO of BARC explains, “VR technology will be used to interact with and within this environment. Similarly, VR glasses could be used to replace television. This technology provides a glimpse into the potential and interactivity that the Metaverse will be able to allow in the future.”
Also, live events have been staged in the Metaverse by artists such as Justin Bieber and Ariana Grande in avatar form. Katy Perry, who used augmented reality in a bizarre American Idol performance, envisions a future in which stadium tours are delivered directly to fans via AR or VR.
The metaverse, as the next version of the internet, promises to be an exciting and lucrative new frontier for content owners and creators, and while there are many new questions to ponder, there are also many new opportunities.