The metaverse will open up more ways for businesses to make money, an executive from Facebook parent Meta Platforms Inc told an advertising conference on Monday, in a presentation complete with a video showing holographic avatars fencing and playing basketball.
"Without the physical limitations that exist today that put pressure on businesses' bottom line, things like real estate, supply chain and geographical reach, the metaverse will open up more opportunities for businesses to make money," Shah told the audience. On the advertising conference's agenda later this week is a fireside chat with Neal Stephenson, the science-fiction author who coined the term"metaverse" in his 1992 dystopian novel"Snow Crash." Stephenson will speak on the same day that features panels with Unilever Plc's marketing vice president and Hewlett Packard Enterprise Co's head of global media investment.
Shah, who said the Foo Fighters would perform a concert in its virtual reality events app Horizon Venues after the Super Bowl on Sunday, pointed to the company's partnership with the National Football League that allows users to outfit their VR avatars with team jerseys as an experiment in digital goods.