The metaverse, while gaining popularity recently in the web3 world, has been around as a concept for almost 30 years. Defined as a simulated digital environment, it infuses augmented reality, virtual reality, and blockchain into social media concepts to create spaces for richer user online interaction that mimics the real world.
To a large extent, at this very nascent stage of metaverse development, whatever the metaverse is promising is what video game producers have been working on for decades.
What is driving this uptrend is community-based virtual worlds, such as Roblox, where players enjoy creator powers to control a virtual world. Additionally, the pandemic has accelerated the growth of metaverse worlds such as The Sandbox and Decentraland.
And France has a head start. The country is home to famous schools of engineering and creation that produce amazing 3D designers and animators. The country is today the world’s second largest video game producer with digital video gaming revenue projected to hit US$3.8 billion by 2025.
VC-turned-founder Yassine Tahi is among France’s new wave of web3 entrepreneurs looking to quicken, support, and usher in the future of blockchain-powered online gaming. His company, Kinetix, is democratising 3D animation for web3 builders.
This week, they announced their US$11M seed round.
Here, Yassine shares why his company is needed as we all accelerate into the metaverse – and what he predicts will be the next trends in this space.