Politicians, keen to get the country back to work and appear to be helping the economy, have typically fostered job creation. Employment schemes have a long and tumultuous history, ranging from the Great Depression’s job creation programs through US President Barack Obama’s American Jobs Act. Today, officials are as enthusiastic as ever about creating meaningful jobs for the public, but the next big job-creation scheme is unlikely to come from the top down.
Rather, it will come from a world over which most governments have little control and less power: the Metaverse. That virtual world that exists alongside our real one is not bound by national borders, nor is it the domain of social media firms who have cynically appropriated its name.
The Metaverse is a network of interconnected virtual worlds where people can recreate, interact, and transact. Users can flit between games, meeting areas, and markets as avatars, reenacting many of the chores that were previously restricted to meatspace.
The Metaverse’s biggest promise, though, isn’t the potential for humans to dress up in gruesome costumes and twerk together in virtual music halls. Rather, the throbbing heart of Web3 will be for these same people to find meaningful employment in worlds, realms, and locations across the Metaverse.
Given the nebulous nature of the Metaverse, imagining a virtual world in which millions of people clock in and out to earn a living can be difficult. However, there is already work being done in budding metaverses all over the (virtual) world.
Virtual pets wander freely in the play-to-earn — or “GameFi” — sector, with their human owners stroking, clothing, and teaching them. But it’s not just for fun: users may acquire tokens and other in-game goods that spawn in their separate metaverses and sell them for real money.
Workers in underdeveloped nations like the Philippines earn roughly $30 per day completing these duties on behalf of their employers, collecting tokens with the creatures. Owners, in turn, make money by leasing out their virtual pets – without having to bother with the tedious task of collecting tokens all day.
How Will the Metaverse Change Our World?
Not all of the work involving the Metaverse will take place within it. Many of the nuts and bolts that keep it turning — coders, designers, testers, and developers — will be connected. The rise of the Metaverse, on the other hand, will see millions of people working in offices and on shop floors throughout the world transitioning to a virtual reality that isn’t all that different from what they’re used to.
Real estate: In metaverse worlds like The Sandbox and Decentraland, virtual land is already selling for millions of dollars. The competition for good virtual real estate is severe – pixel flipping for profit is a specialized vocation that will provide a flurry of occupations for people with a keen eye for a prime plot. Simultaneously, real-world property will migrate to the metaverse, allowing potential buyers to “walk around” a beachfront condo on the other side of the planet or ogle one that is still under construction. “Try before you buy” is the norm in a virtual world where everything is possible.
Fashion: Fashion labels ranging from Louis Vuitton to Nike and Gucci are screaming for a piece of the Metaverse action, and it’s simple to understand why. In a world where millions of people interact through avatars, there are unlimited chances for sartorial beauty. When it comes to attire, people are no longer limited by gender, body type, or even creativity. In the Metaverse, you can take on any identity you wish, complete with the appropriate accessories. Fashionistas will pay top cash to adorn their avatars in limited-edition threads from the hottest brands, while models will flaunt their stuff on virtual catwalks.
Music: The Metaverse proved its worth during worldwide lockdowns, with over 27 million fans tuning in to Travis Scott’s Fortnite performance in 2020, as much a boost to independent artists as it is to major labels. Web3 technology, such as NFTs, has already been used by innovative artists to make limited-edition and unique albums and foster intimate relationships. The advent of a fully immersive Metaverse will take this capability to a whole new level, opening up unlimited possibilities for monetization and fan engagement.
Films: Technology is a double-edged sword that creates new opportunities while also destroys others. Actors who have had their likeness taken by artificial intelligence and their intellectual property stolen can attest to this. However, within the Metaverse, the same technology that threatens their livelihoods may be used to enhance them. Consider the possibilities in a world where voice, television, and movie performers may employ their computerized doppelgangers to communicate with fans and sell experiences that include one-on-one time — all without ever leaving the luxury of their California estate.
As the Metaverse takes shape and its promise becomes a reality, the job opportunities it provides will benefit everyone from the $2-an-hour mechanical turk to the affluent and famous. There are already Metaverse stores where you can get everything from fast food to medical marijuana and have it delivered to your real-world front door using your avatar. Many Metaverse workers, such as delivery drivers and food producers, may have no idea that they owe their living to a world they have yet to discover in the near future.