Intellectual Property Insights from Fishman Stewart PLLC
Newsletter – Volume 22, Issue 3
Metaverse, The New Matrix
In the 1999 classic science-fiction movie The Matrix, the character Neo (played by Keanu Reeves) takes a pill that allows him to become conscious of the truth that he is living in “the matrix” — a virtual world where humans and fantasy merge — rather than in a purely organic universe. Now aware of the simulated reality, Neo gains superpowers, all with the unintended aid of the matrix, that allow him to experience life in ways unattainable in the organic world.
Fast forward to 2022 — is the matrix “real” and now called the “Metaverse”? Like the matrix, the Metaverse is a virtual computer world. It is built on platforms such as augmented reality (AR), virtual reality (VR), Avatars (human-like bots), and artificial intelligence (AI). No longer science-fiction, we can experience the Metaverse, right here, right now. With the Metaverse we can experience an even deeper self-immersion into the digital world than was possible for Neo in The Matrix.
So, what is the Metaverse? The Metaverse conglomerates various technological elements at a basic level, including video, AR, VR where users can exist within a digital world. The Metaverse concept draws its strength from a vision where users can play, work, and stay connected with others, ranging from work events, conferences, virtual vacations, shopping, socializing, and entertainment events. This can all be done while sitting in your living room. Just think of the money you’ll save by not flying to Orlando and standing in long lines at Disney!
The Metaverse is already playing a roll today in our lives. We can see it in branding, advertising, gaming, shopping, healthcare, and more. In healthcare, the innovation firm Electronic Caregiver is patenting a remote patient monitoring avatar — a blonde-haired, blued-eyed, young woman called Addison®. Addison reminds homebound patients to take their medicine, she monitors their walking patterns to predict when they may fall, and she even transmits vital signs (e.g., heart rate, oxygen levels, etc.) to doctors and family members. It’s like having your own in-home nurse at all hours of the day. Check out Addison caring for a patient HERE. This revolutionary technology allows a homebound patient to step into the Metaverse without leaving home and avoid the costs of a human caregiver.
Another fascinating application of the Metaverse is in brand awareness, management, and marketing. Instead of hopping into your car and driving to the mall to shop at your favorite store, you instead enter the Metaverse and shop from your living room. Once in the virtual space, you can try on clothes in a virtual dressing room, move between boutique shops at ease, and even have your friends join you for a wardrobe consult. You can engage with consumer products without the need to come into contact with other people. Talk about COVID friendly! See how the company MetaVRse envisions its virtual showrooms HERE.
Architects, too, have entered the Metaverse as they are now designing building spaces using VR to enhance and streamline the collaborative design experience. One such company is Mancini Duffy — a technology-first architectural firm in New York City. They have a patent pending on a VR innovation called the Toolbelt®. This innovation allows architects in New York to enter a virtual room with a client in another country where they collaborate in real-time by walking through every room of a virtual building. They can simulate various light fixtures and color schemes as well as move walls, take measurements, doodle, and write notes. The Toolbelt® innovation runs on a video game platform and links multiple architectural and analytical software together to streamline the design process. During the pandemic, many conventional architects were slowed by the inability to meet in person, while the Mancini Duffy firm did not miss a beat. Learn more about this innovation HERE.
The Matrix was a primer for the now emerging Metaverse which more than ever unlocks the power of synergistic new technologies to create an even greater human experience. The power of this new communication medium is in your hands. The future is yours to create — “magic pill” optional. How you leverage this incredible new technology is up to you.
Published February 4, 2022
New Technology Revolutionizes Art Market
To some, a non-fungible token (“NFT”) is a mere financial instrument. However, content creators contend that NFTs will revolutionize the art market by creating wealth and giving recognition to digital artists. The technology creates transparency and confidence in digital trading and enables royalties to be given to the artists.
Ben Mauro, concept designer and Fishman Stewart client who has worked on franchises such as the Call of Duty video game series and The Hobbit movie series, is the poster child for artists seeking to capitalize on this emerging market. Last year, Ben launched the sale of his EVOLUTION NFT digital trading card series. The collection sold out in just 7 minutes and generated $2 million USD from more than 2500 buyers in over 10 countries.
“This is a very big idea that will help every artist in the world and change a lot of artists’ lives. It basically solves a problem that we’ve been having our whole careers with not being able to monetize our digital creations. It’s completely revolutionary to me,” said Mauro. “I feel like I’ve been waiting for this my entire career, and finally technology and art came together in a beautiful way that allows every artist to do this for the first time. It’s incredible.”
Congratulations, Ben! We eagerly await to see how the future of NFTs will transform the art space and provide artists with the wealth and recognition they deserve.
IDENTIFYING, SECURING AND ADVANCING CREATIVITY®