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Survey / The Metaverse
Deconstructing Facebook’s metaverse
As a result of Facebook’s name change to Meta, the metaverse phenomenon has now entered the mainstream. We ask the founders of two metaverse companies to define this new parallel digital reality, and how companies need to angle their entrance to it.
3 Nov 2021
Karinna Nobbs.

Karinna Nobbs is the co-founder and CXO of The Dematerialised, a British marketspace for digital fashion. Nobbs, together with her co-founder Marjorie Hernandez, has pioneered the world of digital fashion and style with the help of their early adaptation of blockchain technology. Collaborations have been made with the likes of Soulland and Karl Lagerfeld, to name a few.

What was your reaction to Facebook’s name change to Meta and their strategy to take lead in creating the metaverse?

I think Mark knew he had to do something to keep his house of brands relevant and moving his businesses from web2 to Web3 is clever. I have been fascinated by the reaction, it really has divided many people. On the positive side more people are talking and aware of the Metaverse, on the negative side, because it is him/Facebook and the creative around the launch was like a bad parody it is turning people off before they give the idea a chance. Overall I am excited as I believe the change has brought forward the awareness and adoption of digital fashion — as just as in real life you probably wanted to be dressed in the metaverse.

What is your definition of the metaverse? How do you think and talk about it?

In simple terms it is a digital social environment, the advanced version is a persistent parallel virtual world with its own economic system. I think there will be multiple metaverses where we can go hang out, learn, shop, work and play and I am looking forward to more blending of virtual and physical so we don’t have to be either-or.


Will the Facebook metaverse affect your business, in the short and long term?

Yes, as previously mentioned in the short term it propels the digital fashion industry forward and it will have to be considered as a place for asset/product discovery and potentially also post-purchase utility – so you buy a digital fashion asset or NFT and perhaps you can flex it on your avatar in Meta. In the long term, it could be a potential competitor, if they also move into NFT trading.

Do you have a metaverse strategy for your company?

Yes, we need to partner with multiple metaverses as this is where people will be, also if there are no cool ones emerging, perhaps we might build one!


The idea of the metaverse is very much in theory. When do you think it will become reality? What’s the time horizon?

Well, it depends on your definition of a Metaverse, we already spend a lot of our time communicating in digital environments, it’s just that they are mostly 2D at the moment (social media platforms etc) but as more games and metaverses become more attractive and accessible certain ones have more traction — my time horizon is 12-24 months for mainstream adoption.


What aspects of the metaverse do you see play out today? What are some of the most interesting examples (in gaming, digital fashion, communication, etc)?

Looking at blockchain-based metaverses like Decentraland, Cryptovoxels and Sandbox etc you already see new communities forming, new aesthetics and languages. In these worlds, people are connecting, trading, building. Looking at games like Fortnite which I personally do consider a form of Metaverse — because by offering different modes like Party Royale they encourage a different kind of social and community interaction, which is super clever from a commercial perspective and super fun from a consumer behaviour perspective.

Emma Ridderstad. Photographed by Kimberly Ihre for Scandinavian MIND Issue 2.

Emma Ridderstad is the Co-founder and CEO of Warpin Media, and also the self-claimed queen of the metaverse. Warpin help organisations incorporate impactful and innovative virtual and artificial reality content. Recently, she shared her insights on the futuristic possibilities of the metaverse in a recent interview with FOX Business.

What was your reaction to Facebook’s name change to Meta and their strategy to take lead in creating the metaverse?

It came as no surprise that Facebook would choose a name that relates to the metaverse. Their intention to be the builders of this space became clear a few years ago and the ambition has only grown since then. From a technical point of view, Meta will definitely have the muscles to execute its outlined roadmap. The real question is whether the rest of the world agrees that they’re ready for this level of responsibility. I’m not certain that one company should own this space. However, we may also see a decentralisation, much like what happened with the internet, and a movement away from the Apple and Google controlled mobile internet model, with marketplaces and ecosystems controlled by one player. 

What is your definition of the metaverse? What do you think and talk about it?

The metaverse is a creative, expansive place with endless possibilities. It’s a seamless transition between apps and workspaces that will give us superpowers by working as a spectrum of realities that we can slide between. Ultimately, it is the internet in 3D.

The metaverse will democratise training, education and information-sharing and its accessibility will have a tremendously positive impact on everything from work and everyday chores to socialising, concerts and sports. Just imagine being hospitalised, elderly or otherwise limited in mobility, but still having the opportunity to see friends, visit museums, go shopping, or similar. Further, it’s going to be built in AR/VR and using AI — these emerging technologies will create jobs we couldn’t even imagine 10 or 20 years ago.

Will the Facebook metaverse affect your business, in the short and long term?

The metaverse will definitely have an effect on our business, both in the short and in the long term. We’ve already seen signs of this with recent press coverage raising mainstream media awareness of VR/AR/XR, and the general public becoming more familiar with these technologies. Businesses are also starting to realise that the metaverse no longer belongs in a future of flying cars and space colonisation, but that it is actually happening now. We are witnessing the beginning of the “Internet 3.0” —  and this time the change will come at a more accelerated speed than when the internet was first born in the 1980s. 

Do you have a metaverse strategy for your company?

As we are a metaverse company, the answer is a resounding yes. 

The idea of the metaverse is very much in theory. When do you think it will become reality? What’s the time horizon?

This is what is so exciting — I predict that we will see the metaverse ready in five to ten years, maybe even faster. It is also unlikely that it will be revealed in one go. I think we will see parts of the metaverse being built, and rolled out, in the very near future. 

What aspects of the metaverse do you see play out today? What are some of the most interesting examples (in gaming, digital fashion, communication etc)?

We already see a mixture of digital and physical in music, art, and fashion – creative industries that are embracing all the possibilities that VR and AR can offer. Today, you can design a garment in AR that suits your look, print it in the physical world, and then walk out of the shop moments later wearing your new outfit. When you get home, you can make it come alive all over again in AR through your phone. 

More traditional sectors are also realising how VR and AR can simplify and improve their processes. Many companies are already taking advantage of the fact that they can reduce work-related injuries by as much as 43% training in VR, keeping the workforce four times more focused than with traditional e-learning schemes and 27% more emotionally engaged. As the metaverse develops, more businesses will see these kinds of benefits of VR and AR in their day-to-day work, and make use of the endless possibilities of the internet in 3D.