PA Consulting’s emerging technologies expert, Lee Howells, comments on what businesses can learn from Second Life to advise them on how to deal with the metaverse in Financial Times.
The article discusses Facebook’s recent rebranding as Meta and how it seemed largely free of advertising. Even though many businesses have lost interest in Second Life, the early virtual world launched in 2003, they should have banked some useful lessons.
The article goes on to say that social media, still in an early stage when Second Life peaked, has since shown brands they need to work with customers rather than broadcasting to them. Money will of course be made in the metaverse, by Facebook above all. Lee says: “The harvesting and capture [of data] is going to be a huge business.” There will be plenty of new ways to make money, too. For instance, in the overlapping virtual world of online gaming.