Metaverse BM Innovation for New Experience Economy

©2022 TechIPm, LLC All Rights Reserved www.techipm.com
Metaverse BM Innovation
for
New Experience Economy
March 24, 2022
Alex G. Lee

©2022 TechIPm, LLC All Rights Reserved
Speaker Metaverse Webinar
Metaverse based ESG Digital Transformation for
Accelerating Sustainability
Metaverse ESGDX for Climate Risk and Net-
Zero Management
Metaverse based Sustainable Smart City
Development
Digital Twin Metaverse for Enterprise Digital
System Innovation
Metaverse Enterprise Digital Twins for
Sustainability
Enterprise/Industrial Metaverse
Applications/Business Model Development
Metaverse Economic System: Digital Twin +
NFT + DeFi Convergence
Recording:
https://www.youtube.com/channel/UCkERuP7J9
mW1tY1dgN_PttQ/videos
Presentation:
https://www.slideshare.net/alexglee
https://www.linkedin.com/groups/9106557/

I. Present & Future of Metaverse
Metaverse Revolution Imperatives
Metaverse Enterprise/Industry Applications Boom
Present and Future of Metaverse Infographics
Metaverse Industry Applications At A Glance
II. Metaverse Economic System
Metaverse Virtual/Creator Economy Emergence
Metaverse Economic System Components
Metaverse Economic System Architecture
III. Metaverse Experience Economy
Experience Economy
Experience Design Framework
Metaverse User Experiences (MUXs)
Metaverse Store MUXs
Metaverse BM Innovation for New Experience Economy
Agenda

Present & Future of Metaverse

Metaverse Revolution Imperatives

Metaverse Enterprise/Industry Applications Boom

Metaverse Present and Future Infographics
Metaverse = Physical + Virtual Converged World
Physical World
Reality: [Time (Events) – Space (Places) –
Matter (Substances)]
Virtual World
Virtuality [No-Time (Autonomous) – No-Space (Digital
Places) – No-Matter (Dematerialization)]
Me
You
Digital People/Objects/Places/Environments
Digital Me (Avatar) Digital You
Augmented Virtuality: [No-Time (Autonomous) – No-Space (Digital
Places) – Matter (Substances)]
Mixed Reality =
Augmented (Reality
+ Virtuality)
Augmented Reality:
[Time (Events) – Space
(Places) – No-Matter
(Dematerialization)]
Physical Twin Digital Twin
Real-time
data flow Mirrored Virtuality: [Time (Events)
– No-Space (Digital Places) – No-
Matter (Dematerialization)]
Physical Virtuality: [Time (Events) – No-
Space (Digital Places) – Matter
(Substances)] or Mirrored Virtuality
Meta Horizon Worlds
Microsoft Mesh
3D GPS NAVI
Augmented Reality +
Mirrored Virtuality
Surrogate
Robot
Warped Reality:
[No-Time
(Autonomous) –
Space (Places) –
Matter (Substances)]
Alternate Reality:
[No-Time
(Autonomous) – Space
(Places) – No-Matter
(Dematerialization)]
People can interact freely in a
variety of ways and forms with
one another, digital objects,
robots, and environments for a
variety of metaverse
experiences:
Immersive experience
Enhanced emotional
(fantasy/sensation/sense of
presence) experience
Active interaction experience
Real to virtual/Virtual to real
cross connected experience
Creative community
participation (co-creation)
experience
commerce/monetization
experience
Massive sharing/engagement
experience
NFT
Creator Economy Virtual Goods/Land Sale
Internet of Metaverse
Metaverse Tour
Metaverse Applications
Metaverse Commerce
Technology Innovation
Reality Technology Innovation
XR Devices, HCI, Digital Senses
AI Digital Human Innovation
ICT/Digital Technology Innovation
5G
IoT
Special
Computing
Decentralization Technology Innovation
Metaverse Building Engine Innovation
GIS
3D Modeling

Reference

Metaverse Industry Applications At A Glance
Fashion
Ralph Lauren virtual
Polo Shop@Roblox
https://www.roblox.co
m/ralphlauren
NIKELAND virtual
showroom @Roblox
m/nikeland
Gucci Garden Experience
Lands@Roblox
https://blog.roblox.com/202
1/05/gucci-garden-
experience/
Balenciaga fassion
show@Fortnite
https://www.epicgames.com
/fortnite/en-US/news/high-
digital-fashion-drops-into-
fortnite-with-balenciaga
Retail
Streetify virtual
shopping mall
https://www.streetify.c
om/
Automotive
Target AR shopping
https://www.target.co
m/c/see-it-in-your-
space/-/N-9ciy7
Hyundai Mobility
Adventure@Roblox
m/games/7280776979/
Hyundai-Mobility-
Adventure
Acur virtual showroom
https://acuraverse.com
/
Consumer
Electronics
Samsung 837X Virture
Store@Decentraland
https://www.samsung.
com/us/explore/metave
rse-837x/
Samsung home
appliances
showroom@ZEPETO
https://gpweb.zepeto.i
o/user/post/373834867
?sc=GRFUMC
Banking
JP Morgan Onyx
bank@Decentraland
https://decentraland.or
g/
Entertainment/
Media
Disney metaverse theme
park
https://www.thecoinrepubl
ic.com/2022/01/10/disney-
patents-new-technology-
a-step-closer-to-its-own-
theme-park-metaverse/
Warner Music virtual
concert@Sandbox
https://indianexpress.com/articl
e/technology/crypto/warner-
music-group-to-launch-
concert-theme-park-in-the-
sandbox-metaverse-7746149/
Sports
Dallas Cowboys AR Stadium
https://nexusstudios.com/insi
ght/seeing-lens-enhanced-
locations/
Travel
Faroe Islands virtual tour
https://www.remote-
tourism.com/
Louvre Museum virtual tour
https://petitegalerie.louvre.f
r/
Real Estate
BNP Paribas virtual real
estate service
https://www.realestate.bn
pparibas.com/virtual-
reality-vr-and-augmented-
reality-ar-real-estate
Restaurant
Chipotle virtual
restaurant@Roblox
https://www.roblox.com/g
ames/7603178367/Chipotl
e-Boorito-Maze
Education
Seoul National University
Hospital virtual surgical
training
http://www.koreabiomed.com
Healthcare
Health Unchained blockchain
based metaverse hospital chain
https://healthunchained.org/
Manufacturing
BMW metaverse factory
https://blogs.nvidia.com/blog/2
021/04/13/nvidia-bmw-factory-
future/
Metaverse NFT Projects AT
A Glance:
https://www.slideshare.net/
alexglee/metaverse-nft-
projects-at-a-glance

Metaverse Economic System

Metaverse Virtual/Creator Economy Emergence

Metaverse Economic System Components
Economic entity: personal/legal entity
-Avata with DID (Self-Sovereign Identity) for metaverse economic activity
Medium of exchange and a store of value: money (fiat currencies) issued by
national governments & payment system
-Metaverse central bank digital currency (CBDC) v. universal cryptocurrency
Banks and financial institutions
-Metaverse banks and financial institutions for DeFi operation
Assets (real estate, valuables) & goods
-Metaverse values/rights represented by NFTs
-Metaverse presence represented by digital twins
Commerce system: market places; exchange/delivery for real assets/goods;
exchange for fiat currencies

Reference: DID (Self-Sovereign Identity)
Source: https://www.w3.org/TR/did-core/
Verifiable
Credential
Verifiable
Presentation
DID AUTH
DID Document: DID/publicKey
publicKey

Reference: NFT Functions and Legal Status
An NFT represents digitally numerous functions, rights and obligations of an
asset (digital or physical) with an unique economic value (non-fungible
tokenized value). Because each NFT is unique and contains its own value, it
cannot be traded or exchanged equivalently. NFTs can provide authenticity,
verification, and exclusivity.
In general, the rights that accompany an NFT are determined by the NFT
creator who owns property or IP rights of the underlying asset. Usually, the that
accompany an NFT rights include ownership of NFT: Ownership of NFT does
not translate into ownership the underlying IP rights automatically. NFT holders
can acquire a license of these underlying IP rights.
For an NFT of a real property, transfer of the NFT can be used as a proof of
ownership transfer of the real property: Legally, whoever is named in the NFT
and has possession of it, owns the property by some contractual agreements.
An NFT could be considered a "commodity" (for representing a commodity) or
"securities“ (fractional NFT where an investor would share a partial interest in
an NFT with others: an "investment contract" under the Howey Test) under the
federal laws.

Reference: NFT + DeFi Convergence
Source: https://medium.com/@SeanLippel/decentralized-finance-is-a-continuum-179d43c6ef65
A NFT holder can stake his NFT as collateral value in a DeFi money market for
borrowing cryptocurrency against its collateral value.
NFTX (https://nftx.io/) is a platform for creating liquid markets for illiquid NFTs.
Users deposit their NFT into an NFTX vault and mint a fungible ERC20 token
(vToken) that represents a claim on 1:1 a random asset from within the vault.
vTokens can also be used to redeem a specific NFT from a vault.
A real asset holder can tokenize his asset (e.g., LuxFi launches the asset-
backed NFT marketplace for luxury goods) as a NFT (ERC721/ ERC1155
tokens).
The NFT holder can put it into a specific bonding curve (smart contract) &
anyone can buy the shares in the ownership rights (fractional ownership) by
sending collateral and receiving a fungible (ERC20) bonded token. The price
can be set by pre-selecting a bonding curve that makes sense for the
NFT/underlining asset.

Metaverse Economic System Architecture
Metaverse = Physical + Virtual Converged Augmented World
Buyer Avatar with DID
Seller Avatar with DID
Virtual Show Room
Digital Twin Car
NFT
NFT
Digital Twin
Factory
Customized Options
Virtual Bank
NFT
Realization?

Metaverse Experience Economy

Experience Economy
In the seminal book on experience innovation - "The Experience Economy" -
the authors provided a completely new way of thinking about customer
experiences for offering distinctive customer experiences that can lead to
increased customer allegiance and a more profitable bottom line through
premium value propositions. In the Experience Economy, experiences drive the
economy and therefore generate much of the base demand for goods and
services

Experience Design Framework
Four realms of experiential value: entertainment, educational,
escapist, and esthetic
Four realms of experiential spectrum: absorption, immersion. active,
and passive
The most robust experiences are those that hit the “sweet spot” in
the middle of the four realms, drawing richly from each
To capture customers’ attention, you must stage experiences worthy of
attention: create memorable experiences that do truly engage—in particular,
experiences that are robust, cohesive, personal, dramatic, and even
transformative.
Cohesive experiences design
principle:
• Theme the experience
• Harmonize impressions with
positive cues
• Eliminate negative cues
• Mix in memorabilia + media
• Engage the five senses: sight,
sound, touch, taste, and smell
Customizing a service for efficiently serving individual
customers uniquely turns it into a personal experience
Five-stage dramatic experiences:
•enticing customers to pay attention to your offering
•entering the experience
•engaging the rising action, climax, and falling action
•exiting to remember the experience more strongly
•extending to encourage repeat visits
When you customize an experience, you automatically turn it
into a transformation

Reference: The Experience Economy (HBR Press) One Page Book Summary

Metaverse User Experiences (MUXs)
•Immersive reality experience using XR devices & 3D computing technology
(3D Space; 360 Views; Spatial Audio; Haptics; WebAR)
•Enhanced emotional (fantasy/sensation/sense of presence/ empathy/
memorable) experience
•Enhanced engagement experience (Gamification )
•Active realistic interaction/quality communication experience through
digital/robotic avatar (surrogates)
•Real to virtual/Virtual to real cross connected experience through IoDT
•Creative community participation (co-creation) experience
•Virtual commerce/monetization experience
•Massive sharing experience (augmented network effects)
•Customized and personalized experience with storytelling

Metaverse Store MUXs
A metaverse store provides customers with a digital twins connected 3D immersive
virtual world where customers are able to interact in real-time 24/7/365 with a digital
environment through their own personal avatar.
Store managers can pre-test a product before actually producing it & perform smart
inventory/shipping/product lifecycle management & reduced number operation of
physical store.
NFTs can be used to improve the engaged shopping experiences in integration with
gamification.
AI assisted goods recommendation and shopping guide can provide reach and
personalized experiences.
Source. https://obsessar.com/3d-digital-stores/; https://medium.com/sap-cic/building-a-digital-twin-for-a-retail-store-d0fcfb5598ec

Metaverse BM Innovation for New Experience Economy
Metaverse Business Opportunities: MUXs x MUCs
•Immersive reality experience using XR
devices
•Enhanced emotional experience
•Enhanced engagement experience
•Active realistic interaction/quality
communication experience
•Real to virtual/Virtual to real cross
connected experience
•Creative community participation (co-
creation) experience
•Virtual commerce/monetization experience
•Massive sharing experience
•Customized and personalized expericence
Metaverse User
Experiences
(MUXs)
• Media, Advertising,
Healthcare, Education,
Manufacturing, Real estate,
Retail, Gaming,
Entertainment, Travel,
Hospitality, Banking,
Construction, Sports,
Fashion, Pharmaceutical, …
Metaverse Use
Cases (MUCs)
MBM
(Metaverse
Business
Model)
Metaverse
value
proposition
Metaverse
value
creation
Metaverse
value
capture
Metaverse
operating
model
Metaverse
Enterprise
Platform
Metaverse
Space Building
Platform
Metaverse
Economic
System
Metaverse
Co-creation
Platform
Metaverse Value Creation: MET x NUs
*MET: Metaverse Experience Time; NUs: Number of Users
MUX Design RUX
Design
VUX
Design

Reference: Digital Business Model Innovation
The essential part of digital transformation is using data and digital capabilities
to reshape customer value propositions, transforming operating models for
greater customer interaction through the efficiency and productivity gains,
designing new pricing model, and accelerating product and service innovation,
which introduce a new digital business model, and then, lead to new revenue
streams and new revenue opportunities.

Reference: IoT v. IoP v. IoDT
Metaverse = Physical + Virtual Converged Augmented World
IoT IoP
IoDT

Reference: Metaverse Enterprise Platform
A metaverse enterprise is consist of a physical enterprise and virtual enterprise which is a realistic digital
representation (digital twin) of the physical enterprise. Physical and digital enterprises are connected
through real-time data.
The metaverse enterprise supports metaverse business models and enables Internet of Digital Twins
( IoDT).
Business resources can be used on demand without limitation in the digital enterprises (Dematerialization).
Based on actual real-time data in the physical enterprise, the virtual enterprise is created, and then, tested
using simulation models, big data analytics, and scenario analysis to obtain meaningful insights regarding
businesses of the physical enterprise. Digital world decisions based on the obtained meaningful insights are
transferred back towards the physical enterprise to improve businesses of the physical enterprise.
Digital twins combined with extended reality (XR) devices provide a feeling of a real physical presence in
virtual space for remote workers to operate digital twin models collaboratively as if remote workers feel that
they are at the same place (Realistic Immersion and Sense). Workforces can participate and collaborate as
digital humans (avatars) for creating genuine and trustworthy digital interactions.
Gamification is a process of using game mechanics, elements, and principles and applying them to non-
game contexts to engage people better. Gamification can be used in a metaverse enterprise for providing
remote collaborative working operations as a means to keep the workforce engaged and to drive
productivity.

Thank you!

Metaverse BM Innovation for New Experience Economy

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