 All right. Excited to be here and looks like pretty big attendance. Very nice to see so much interest in Web 3. This time of the day, that too. At this time of the day, that too. Everybody is taking around here. Good to see that. Yeah, yeah, yeah. So great, no great, you know, line of speakers here, no great panel here. Privilege to be part of this and moderating this. I've been interacting with most of them in this panel and thanks for joining here. So I'm Ganesh Raju, CEO of Akshaya. So I would like to give a few seconds for each of you to start introducing and then we can get on to what is creator economy? What is the economy with the metaverse? What does that mean? So everybody is talking about metaverse, but what is the economy around it? Everyone is having their own vision of metaverse. So what does that mean from your perspective and what is the economy behind it? Starting with you, Raul, please go ahead. Good afternoon, gentlemen. I'm Raul and I'm the founder at Metaverse 911. We are a 911 support to Metaverse companies, essentially working on creating content, scaling, upskilling, cross-selling people to grow the industry and to be able to help metaverse companies do the job nicely. Thank you. Hi, everyone. My name is Gautam and I am the Chief Product Officer at Trezi. Trezi basically is about transforming design. I'm an architect and was a professional architect for about two and a half decades before I started this particular venture with which we are really trying to create an immersive intervention for the architecture engineering and construction industry which allows architects and building product manufacturers, one of the most ineffective and most wasteful industries to actually use the power of metaverse and bring the fairness of project delivery to their customers. Thank you. So my name is Raul Mishra and I lead Web3 initiatives for Shimaru Entertainment. We were a Web Zero company and now we move to Web3. Basically, we fall in love with immersive entertainment and we want to sort of lead the path and bring out the best experiences for consumers to see content in a different lens now and that's what we're working towards. Obviously, we have various of the tracks as well which we built on but for the session today we will stick to the metaverse plans we have. Yeah. Hey everyone, hi. This is Utsav Mathur. I'm the founder and CEO at Geometry. We don't know code platform to build your own metaverses so anybody over here in the audience can log in, build your own virtual worlds, ranging from some take your meetings or for larger enterprises, you know, bring in all of your employees, digital twins, so on and so forth. Hi everyone, my name is Gagan Pal Singh and I am the founder and CEO of Matality Ventures. I'm an experiential marketing professional turned entrepreneur, got into Web3 and as we say, it's an experiential metaverse company where we are merging consumer engagement with building spaces so we not just build spaces, we move beyond and create experiences and create engagements for our customers. We are building products and enterprise solutions for our clients in two key areas, which is retail and real estate. Thank you. Thank you and Kano, thanks for joining virtually if you could introduce yourself as well. Great to be here. Hi everyone, my name is Kano Singh and I am the founder and CEO of Metadome.ai. Metadome.ai is an XR and metaverse platform for brands and enterprises. A little bit about me, I've been in the XR space for the last nine years now and yeah, it's great to be here and happy to share my thoughts on where we are headed and what the future looks like. Awesome, so it looks like a great coverage here. So we have some influencers, some real estate, education, commercial engagement, brands and all of this. So now we're pretty much covering everything. So now metaverse into every industries we are looking at businesses in multiple dimensions here. So I would like to ask certain specific questions to each individual of you and to learn about what you are doing and what are you working on currently and how are you commercializing this because that's something that audience would like to know. Everyone talks about it, but is there a revenue for it? Right, so let's start with Gagan. Great, I spoke about it a little bit while I was introducing myself. So there are two key industries that we are focusing on. One is retail. We are launching India's first shopping street in the metaverse in one of the European metaverse platform. We believe that we don't need to build our own metaverse. We need to build experiences on the platforms which already exist. So one of the platform which is the Nemesis, we are building a shopping street, a European style shopping street where we have a lot of engagements and ready infrastructure for brands to come in and lease a store at the mall for as low as three months to try it out because as well as I've spoken to people, they've always said that what do I do if I take the store? So now we have made it so easy for them to take a store that at least three months they can try and see what traction do they get and we plug in the customer engagement part to it and help them get more and more traction out of that. The second area that we are focusing on is building a couple of real estate projects in Noida. We are bringing the upcoming real estate projects to the metaverse right now one to one and eventually we'll plug them into a tech platform where the realtor and the consumer would be able to have better experience of the real estate that they're going to buy which usually sells on a sample flat. Now it will sell on a metaverse experience. So I think we are making the job of builders much easy and the experience of customers much more better so that they can have a sense of space and yes, we have commercialized it. We have already gotten business. We are building these projects. We are six, seven months old metaverse company but I think with the differentiator of consumer engagement or customer engagement we have been able to get those clients in and we have started building projects for them. Thank you. Thanks Gagan and now I'll jump to Gautam just switching. So he touched on a little bit of real estate. Can you give your perspective and what do you think? How do you commercialize it? What is the value that you can bring for the real estate in particular? Well, real estate is one of the most tangible use cases of the metaverse and it's stable stakes really from the industry that I come from where I have personally been responsible for creating real estate and in a very ineffective manner all these years. So yes, absolutely. I think there's a great proposition there taking away the physicality of it all and bringing in an immersive experiential method of selling real estate. It's not even the future. It is already in our present. For us in particular at Trezi, for us it has been about creating a hybrid SaaS sort of an intervention in which we want to kind of through the up to today we have heard a few things around democratization. We have heard about how things can be given in the hand of a creator rather than you creating a solution yourself and that's what we're after. Our industry, the design industry, the building design industry and building construction industry, we work with 3D models. We allow people to convert those 3D models into semi-metaverse for their own selves and then engage in an immersive manner with their customers and building product manufacturers. So it's really a platform that we have developed. We've been at this for a while now and I think this year we, and because it's a SaaS based subscription, people get to use it themselves. They download it, they use it and they bring in people down the ecosystem into the, onto the platform and then we charge transactions as the products get sold, the carpets get sold or the chairs get sold, first get listed and then get sold. So yeah, I mean just from a pure SaaS play perspective, this year, knock on wood, we should be ending at about a million dollar in revenue 3X growth next year. People want this technology. It's just that how are we going to ensure it still, and we've heard it a few times, but it's still in its nascent stages of development. We have to ensure we build it the right way and make it easy for people to use and deliver value knowing your customers. We again heard that a few times already. So we knew where our customers were, we knew what they wanted, having been a part of the industry ourselves for what the leadership group put together in the company has got about 100 years of domain experience. So I think we managed to create something that people liked to use and will continue using. So that's been our approach to commercialization. Thanks Gautam. So one thing is clear, it's all about immersive experience and engagement. So could you give your viewpoint from Metadome, what you are doing, how are you looking at economy, what is the commercial part of it, and what is the potential from your viewpoint? Sure. I think fairly good points covered by fellow panelists on commercialization, and I think just to add to the size of the product. So we were talking about real estate, we were talking about interior design, architecture. These are things which are not mobile. You can move them from one place to the other. So you created a house somewhere, you created a design somewhere, you can't take it in the physical world from one place to the other. And this problem sort of persists in other things as well. So car is a big example of that, fashion is a big example of that. And there are certain industries where you would see monetization happening today. So we were talking about real estate, same as the case with industries where there is an industrial side to Metaverse and there is an experiential shopping side to Metaverse today. And there are different ways to look at monetization in both these use cases. So the retail side or the shopping side of the Metaverse is about experience. It's about what the product is, product experience is all about you are sitting at your home, you have your mobile phone, you are able to take a 3D or a virtual tour understanding before actually going and step out in the real world. And that value is today retained by brands by increasing their retail conversions. So Metaverse today or an experience or a 3D experience today has a direct impact on how your retail conversion panel looks like. So that is one way in which brands are monetizing these experiences through their channels like website and through their channels like stores because these experiences are not limited to what happens on the online ecosystem. They also have a ripple effect when we talk about digital or when we talk about offline some of the value gets translated into offline sales as well because you can't buy a house online that's not going to happen. You will not buy a car online. Most of us won't do that. We will step out and look for a test drive but bringing some aspects of offline into online that is where Metaverse comes in and some of the things that we have done in the past. We are looking at the industrial side. So this is something which is fairly new for a lot of us as well. We are looking at high fidelity content. We are looking at multiple people coming into the same environment and collaborating. These are technologies which have existed in the past but were not accessible. So for us the way we are looking at monetization is can we change the value of organizations and value change. I think Gautam also made this point that the most inefficient processes that existed in real estate industries like real estate and architect design. These are industrial use cases. This has an example of efficiency coming into the system. This has a business case of profitability coming into the system. That is another way to look at it and that is how we are driving it. Thanks, Kano. You touched on a couple of points where there are industrial use cases and then there is a consumer engagement. So when you look at metaverse, certain people look at decentralized kind of avatar, cartoonist kind of thing and when you certain people also want to be very realistic, hyperreal, digital twin, industrial use cases. So I like to ask about from the education standpoint and the training standpoint how can that metaverse can be utilized starting with wood serve. Could you explain how education is getting transformed? How can you monetize in that space and again what type of metaverse are you looking at? Cartoonist kind of metaverse are something very hyperreal kind of a metaverse where you want to be the training. Some lights on that. I think you raised some really interesting questions but before that I think I would like to also go towards when we are talking about the creator economy. We are talking about two parts to it. One is the economy of it and then there is the actual creator that comes into it. When we talk about the economy I think primarily the I think what I find very easy to converse about that point is the metaverse as a natural extension or an upgradation of the internet itself and I think that's a really important thing it's not that we are suddenly providing value from scratch which is an important point and I think some panellists did mention that the ability to not be able to for example move that's created value but it's also upgraded value which is actually a lot of the most of it that adding a layer of experience which is almost essential for us in everything we do today. Adding that layer of experience or being able to understand interact with people places things and information better which has been basically an advent the internet has been on for a very long time but the metaverse is just the next medium for us to be able to achieve that. So it's really important that that upgraded value as well as that created value is something we are naturally headed towards it's not a feature of having that specific thing and that value eventually translates into the economy and giving us better models to be able to achieve that as well. But I think that entire economy part is nothing without the creator itself and I think that's the most important thing like how many of us would be able to claim that we are the creators of this value that that is going out and that's an important point to kind of also bring up in terms of what we talk about. Thank you so from Rahul so there are two roles in the other half so same thing from same thing from education metaverse standpoint what do you think about the creator economy what does that mean from a creator economy and who are the creators and what is the value proposition how are you thinking to bring that. So first I'd like to acknowledge that I've been ten months in this business now I've made three business plans they keep changing every month so there is no real you know it's so dynamic the entire space of you know both the NFT the metaverse space so for us to have a plan cast in stone is very difficult so what we are trying to create is essentially as Utsav mentioned it's an extension of the internet you know currently Netflix has a 210 million subscriber base globally when people are experiencing content in the immersive way A there has to be content and B there has to be experiences and obviously now we've also seen the era of tiktok where user generated content is also taking a lot of mainstream space for brands and advertisers as well so we're looking at a combination of you know experience back with great content so we so Shimaru as a Bollywood company we own 4,000 Bollywood films how do we create the experiences for users in the metaverse to see it in a different way how do we create so we've got one track of NFT already on right now in partnership with Polygon we've already gone live with that that's one remedy stream coming to us the second would be when users actually come to the platform to create content to view content to engage with the content it could go towards subscription which we will wait and see in the future so we don't have a right answer right now okay all right so there's a lot happening in the entertainment industry so we'll have to wait and watch on that space we have Uroj also join Uroj could you introduce yourself and I think you know from your viewpoint can you talk a little bit about what the creator economy means for you we couldn't hear you Uroj now we still couldn't hear you okay so while Uroj you work on the technical the difficulty you can fix it now I'll get with Rahul as an influencer in this space you've been working with many companies and doing a lot of advisory and things like that so shed some light on the creator economy and at the same time metaverse what do you you've been in this space the whole thing evolved especially in India but even outside but in India what do you think where are we right now with metaverse and what is with this this is a great you know see the interest shed some light okay where are we going touch on the creator economy as well great thank you thank you I've been waiting for a while to speak how many of you have been to the actual metaverse once raise the hands how many of you have done it five times in the last three months okay 10-15 percent how many of you here are less than 25 years old only three four just on one platform Roblox has got 120 million the other platform will have another half a million some will have 100,000 some will have 15,000 some way the total will become 150 million so the question comes to me says meta is closing down shutting down firing people all over the world will shut down one day the whole metaverse what will happen when metaverse is not there I say there must be a nuclear war only then you can shut down blockchain 10 percent or so brands are the ones who should probably emerge with a great metaverse experience say in the next any time 12 months, 24 months, 36 months it's a notional number I don't know 35 I don't know 37 whether it is 10 percent is it 9 percent but 100 percent it will never be a 50 percent so 10 percent brands will take the best value out of 10 is a notional number will take the value out of the metaverse how there was all the gaming platforms we were all creating games forever games on this app store roblox gaming platforms everywhere and making money but brands are also looking for the same type of customer persona because a new brand somebody who's got an apparel brand wants to go sell it why will he go sell it so Nike went and created a Nike land made 100 million and it has also did the same thing even made more than less than 10 million something like that so the ones who executed good will make money the ones who are very big but didn't executed well is equal to no money it's unforgiving business you start the metaverse journey or the NFT journey and Rahul will agree with me that it's unforgiving yes Rahul now comes part 2 10 percent will do in the next 12 months 24, 36 but this 150 million will become 300 million in 5 years so the opportunity is 2x opportunity is not 1x it's 2x so hence brands will become the content creators Ganesh individuals will come and there will be startups some will be from this group will go back and think can I start a small center on the metaverse and that's how you will build the content creators economy creator doesn't mean I have to go sell something creator doesn't mean I have to go create Taj Mahal over there creator means anybody who has the mind to make money from that 300 million people in the next 3 years and that economy is heading all with respect to all the movements and developments happening with all the stall was sitting here the technology implementation rate is only going lesser and lesser every day and I think what we could do that will be 1 year back in 6 months we can now do it with the tools like geometry in what 3 days so this is a journey I think for every brand and every individual have to be a part of it thanks Rahul so great view point from everybody Gagan Tajdan consumer brands consumer engagement education, entertainment very excited to see what that leads to how entertainment industry can get in and we have Gautam Tajdan real estate and Kano Tajdan MRC experience Rahul your view point from creator economy and all of that so I would like to just give few seconds to go around just to give a finishing statement where this whole metaverse is just give something for the audience what they should be looking for that will happen next few years maybe start with you Rahul the use cases of the metaverse have to be thought through beforehand before you think of getting into the metaverse please go back into basics of creating a use case a very simple example in a minute I will just finish because it will give you a lot of insights in terms of how to think than what and when to think a brand ethnic ethnic brand which is premium ethnic and has got this 16 million followers the average the average between the people the consumer is 26 years to 45 47 years old comes to us and says hey we want to go build a store on the metaverse the answer is who do you want them to be there well we would like to do 1, 2, 3, 4, 5 here is the outcome of our strategic you know input where it comes to what they are doing today first of all we are not targeting 27 year old who is the consumer there because they are working professionals working women going and for them to go do something in the metaverse is time consuming so target the 45 year now that is something which is opposite to what I said before why would I go target of more than 45 year old female to come be a part of the metaverse experiences of a ethnic wear the answer was we will go and do a cathod dance or 7 forms of dance training in the metaverse and 45 year old lady will have a 15 year old 17 year old teen that teen is your customer so you got to think about the use case very very carefully and once you have the right use case I think technology after that is just a label that is pretty much thanks Rahul Gautam I will just expand on what was just said it is really time to cut the noise and find tangible solutions because if we don't find tangible solutions all those fears around meta shutting down and no metaverse real time use case coming through are going to come through so create tangible solutions I think one big opportunity that I see currently creating a meaningful tangible metaverse oriented solution also involves high amount of work right I mean there is graphics and there is physics and there is UI there is AI all these technologies have to come together and got to make it work right there lies a huge opportunity to make this to becoming a no code or a low code sort of an approach to creating metaverse is that everybody sitting in this room can create a metaverse on their own that would be a real winner we are far from that but it would be very exciting to take it to that particular point thanks Gautam Rahul you are doing something with entertainment as well so the last closing statement so the only point I have is a lot of brands come to the metaverse right now and they expect a grand theft auto experience which doesn't happen because you don't have a 1 GB CD with you to run that so I think for all of us in the room we have to set expectations right both with consumers and the stakeholders we are working with it is a process we will get there but I think some companies have tried to jump the gun and they probably won't see the future but the companies of Wester in this are doing it correctly with the right expectation setting we will keep seeing progress so that's the closing point I had what's up please I mean there are some amazing points coming in from the panel as well and what I would like to close with is at the center of the creators economy Gantz is the creator we are talking about everyone's ability to in a way contribute to the generation of content which is the largest problem that many of us would agree in terms of getting there and one of the approaches that we have used that has been successful is everybody out here being able to build towards that entire vision with really easy tools that you could use to build experiences with a partner with who's metaverse partner with meta to basically grow metaverse literacy there is one thing about there is of course a skill to it in terms of something tools you need to learn in terms of creating a canvas three-dimensional data while it's more familiar to architects I'm also an architect by training I do relate with that it's also a new canvas for all of us to try and paint because the way we're accessing 3D data is changing tremendously and then when you come to the creator it's important to note really quickly that the creator when you talk about people this no-code domain nobody identifies as a no-coder I have a lot of friends who identify as coders nobody identifies as a no-coder I don't work up to people and say I'm a no-coder it's that thing that you need to understand that a horizontal applicability of this for use cases as diverse as architecture we've worked with COVID vaccine manufacturing to something as diverse as creating the Bangalore metaverse all of those are very diverse and that can only be successful when we've got horizontal level of contributions playing and that's I think one point that I'd like to bring up Gagan, you have a point I think the question to be asked is not why the question is to be asked what is to be done in the metaverse I think I always compare it with we have seen digital era and we have seen it evolving we have seen when social media came in everybody used to ask why do I need to have social media presence right but eventually the question vanished and it was now how do we use the social media what do we do on social media and I think the question is same with metaverse as well it's already established that it's needed the brands who come in early will get advantage early early adopter advantage and the question is what they should do and what is the right use case so I think that's from my side yeah thanks Kano yeah I think some amazing points and I think just from the standpoint of when we are talking about what to do in the metaverse we have seen so far happiness a lot of people actually know what to do in the metaverse they just don't have the technology to go live with the metaverse and we've seen a lot of projects from creators and from brands which are just videos today but they have created some beautiful scenes in game engines in WebGL and that beautification looks good in a video but they have not been able to take it live stream it across devices and make it accessible to people because that's another part that a lot of metaverse experiences struggle with today is that even if we figure out what to do even if we figure out how to do it there is an inherent technological challenge that exists today of how do we run such experiences on the web and I think that is a big bottleneck when it comes to accessibility and adoption is concerned and I think that change is something that we are also working on making sure that a lot of this content that is getting created is actually deployed across devices actually accessible across devices I think that is a way for us to unlock a lot of potential of the metaverse that currently is staggered currently is very far behind in terms of technological backlogs are concerned so yeah we are hopeful that we will be able to bring a lot of this content in front of the world for a lot of our brand partners and creators in the next few months thank you so great viewpoints here from a wide range starting from real estate to education to entertainment to brands and from the influencers right so from me so right now still there is a lot happening in the metaverse in a lot of companies are doing things with their own way that assuming this is how the metaverse will be right so there will be a time when I think they will all fall into place and there will be some standardizes and we all agree on okay finally this is how the metaverse will look like right so hopefully that happens soon and the whole adoption happens very fast I strongly believe in the potential there is a lot of business use cases industry use cases as well now these are not not just a disruption that is happening but it is also creating new avenues for new stream of revenues for all these businesses and industries along with the immersive experiences and the engagement that it brings so with that we will close this thank you for enjoy being part of this panel thank you so much Mr. Ganesh for creating this