With Facebook recently rebranding as Meta, a future based on a blend of physical, augmented and virtual reality is appearing closer and more realistic, panelists speaking at the fifth Sharjah Entrepreneurship Festival (SEF) 2021 agreed.
In a panel entitled Reality Bites: Going Meta about the Metaverse, the speakers demystified the concept of the ‘metaverse’, highlighting possibilities that emerge when the virtual and real worlds merge and exploring the real-world applications of accessing a 3D digital world where physical, augmented, and virtual reality converge in a shared online space.
“It was Facebook’s rebranding as Meta just over a month ago that brought the term to the forefront of the world’s attention,” said Simon Hudson, CEO, Cheeze, Inc., a photography focused non-fungible token (NFT) media and entertainment company based in Dubai, UAE.
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“In the near future, the digital persona will gain as much significance as one’s real-world persona, and NFT badges given at events will transform the way attendance at popular events, such as SEF, for example, are looked upon. The Proof of Attendance Protocol, in lieu of lanyards – will gain value as a digital token and enable individuals to connect with members of the NFT community,” he continued.
The session was moderated by Anna Seaman, co-founder of the Morrow Collective.
Anthony Monteard (above), co-founder of Jumy, an NFT boutique marketplace dedicated exclusively to digital art said: “We are big believers in metaverse and with new business models emerging, this is the right time to invest in it.”
With the MENA region steering the growth of digital innovation and emerging technologies, blockchain and digital assets will impact lives, said Anwaar Almahmeed (below), CFA, managing director, Republic MENA.
“When the internet was first launched, Web 1.0 was all about static content while with Web 2.0, users became creators. Web 3.0 has paved the way for decentralisation as users now own the data, allowing them to take ownership and share their talents and creations. The ultimate goal of these emerging technologies is to decentralise communities and democratise access to investment, enable people to invest in the future,” she said.
Organised by the Sharjah Entrepreneurship Center, this year’s SEF had 55 speakers, including regional and global entrepreneurs, industry leaders, and young creatives from social, cultural and sports sectors.
The two-day event brought together more than 4,000 entrepreneurs and founders of startups across sectors on one platform, who discussed ways to make a meaningful impact and promote positive change in the local and regional entrepreneurship sectors.
Amrita Sethi (above), a UAE-based voice note artist, who launched her NFT portfolio in 2020, said that NFTs have “literally changed my life, and are breaking boundaries from the physical to the virtual world.”
She added: “My style of art combines sound and storytelling and uses animations and augmented reality through which I am able to tell my story to viewers and is symbolic of how NFTs are changing the art world.”
SEF 2021 was organised in partnership with the ICT Fund – an initiative of the Telecommunications Regulatory Authority and the Digital Government of the United Arab Emirates, Sharjah Media City, Alef Group, and the Sharjah Commerce and Tourism Development Authority.
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