The Metaverse will most likely be a digital twin of the real world, with virtual representations of various people, places, and things found in the physical world. With the birth of the Metaverse, the entire media and entertainment industry is poised for a paradigm shift.
The gravity of the situation is beginning to dawn not only on billion-dollar corporations, as evidenced by Facebook’s title change to Meta, but also on ordinary people who can see that the future of humanity is becoming increasingly digital and will soon be based on a virtual world. This virtual environment describes the cohesiveness and blending of reality, as well as its rising adaptation and interaction with augmented reality. Partho Dasgupta, the former CEO of BARC, discusses the metaverse’s impact on film and television.
“The COVID-19 pandemic has altered how we interact with and within the world. The path to the future is digital, and industries that adapt to the metaverse now will undoubtedly gain a competitive advantage. “Pooja Entertainment, an Indian production company, has stated that it has purchased virtual land in the metaverse for its next productions, under the banner Poojaverse,” says Partho Dasgupta, former CEO of BARC.
In addition, the trailer for Prabhas’ debut film Radhe Shyam was released, and it received a positive response from Metaverse viewers. As this new technology gains traction in India, we can see how it will revolutionise entertainment conceptualization and consumption in the future.
“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,” says Partho Dasgupta, former CEO of BARC and current Managing Partner of Thoth Advisors. This reduces the need for a live location, crew, and filmmaking equipment like lights and sound. It is unknown how much money can be saved through this procedure because the savings will be used to hire Metaverse programmers and experts. The good news is that physical barriers to filmmaking will be removed, allowing for unrestricted access.”
In terms of film and television exhibitions, people will no longer need to physically walk to a cinema hall or multiplex to watch movies, which will transform the film viewing experience. Their digital avatars will watch movies in theatres.
“VR technology will be used to interact with and within this environment,” says Partho Dasgupta BARC ex CEO. VR glasses could also be used to replace television. This technology demonstrates the potential and interactivity that the Metaverse will be able to provide in the future.”
In addition, live events in avatar form have been staged in the Metaverse by artists such as Justin Bieber and Ariana Grande. Katy Perry, who used augmented reality in an unusual American Idol performance, imagines a future in which stadium tours are delivered directly to fans via AR or VR.
As the next version of the internet, the metaverse promises to be an exciting and profitable new frontier for content owners and creators, and while there are many new questions to consider, there are also many new opportunities.