Meet Leila Hurstel, a renowned digital transformation leader, board member at VerseEstate, keynote speaker, Founder of AllStarsWomenDAO, LinkedIn Top Voice in Technology & Innovation 23′ and Forbes Women Forum member.
Navigating the Digital Future
In the fast-evolving landscape of technology, one term that has gained significant traction in recent years is undeniably the “Metaverse.”
Spearheaded by Leila Hurstel, a digital transformation pioneer and board member at VerseEstate, the Metaverse is more than a buzzword, it’s a transformative force shaping the digital future.
The Metaverse Beyond Buzzwords
So, what exactly is the Metaverse? Let’s imagine a virtual universe where digital and physical realities seamlessly blend.
According to Leila, It’s not just a space for gaming; it’s a digital realm where users can engage, trade, and interact with one another.
In fact, she emphasizes that it’s crucial to move beyond the buzzword and delve into the underlying technology, opportunities, and challenges that the Metaverse presents.
Spacial Computing
Spatial computing plays a pivotal role in the Metaverse, overlaying digital data onto our physical reality.
This results in an immersive fusion of the tangible and virtual worlds, redefining our interaction with digital content and how we perceive our environment.
Leila emphasizes that the Open Metaverse, a user-centric virtual domain, brings a revolutionary shift, including interoperability and user control, allowing individuals to move between different virtual environments while retaining ownership of their digital assets and identities.
A glimpse into the future with Web4
“Imagine ai-driven experiences, quantum computing, and even more decentralized systems”
As the Metaverse takes center stage, Leila invites us to envision Web4.
This next phase promises heightened privacy, cutting-edge human-computer interaction, and the integration of AI-driven experiences, quantum computing, and even more decentralized systems.
It paints a future where the internet evolves into a decentralized 3D space, opening doors for businesses to reimagine their digital presence.
Challenges along the way
“According to market projections by abi research, the industrial metaverse is expected to experience rapid growth, reaching a staggering $100 billion in revenue by 2030″
Despite the promises, the Metaverse faces challenges too therefore it is crucial to define them.
“With only 24% having heard of Web3 and the Open Metaverse, awareness remains a hurdle”
Technical jargon and unfamiliarity with concepts hinder mass adoption, therefore Leila suggests that education campaigns, user-friendly interfaces, and improved accessibility are essential to overcome these challenges.
An intriguing application of Web3 explained by Leila is automated lending, envisioning a scenario where banks no longer control loans.
Nevertheless, Web3 encounters challenges in the form of regulatory clarity, user experience, and fraud prevention, demanding careful consideration, despite these hurdles, the potential benefits make the endeavour a worthwhile pursuit.
Tech Initiatives
A recent survey mentioned by Leila unveils that more than 50% of Fortune 500 companies are actively involved in crypto, blockchain, or Web3 initiatives.
The motivation behind unravels potential operational efficiencies within their organizations and the primary focused areas include blockchain infrastructure, data collection and management, and payments and settlement systems.
“NFTs are one example of growth in successful consumer engagement and company roi”
Economic Implications
Leila points out that the Metaverse and Web3 aren’t just reshaping the digital landscape, in fact they have profound economic implications.
Virtual economies, digital currencies, and NFTs (Non-Fungible Tokens) are at the forefront of this transformation.
In the Metaverse, users engage in buying, selling, and trading virtual goods, creating unique digital assets and driving economic value.
Digital currencies, especially cryptocurrencies, facilitate secure and decentralized transactions within virtual economies.
NFTs represent unique digital assets, unlocking ownership and trading possibilities for virtual real estate, digital art, and collectibles.
Leila’s Vision and Innovation at Verse Estate
Leila shares her experience at Verse Estate, a company at the forefront of Metaverse innovation.
Despite the slow adoption of Web3 due to economic factors, executives are exploring its possibilities and the interest extends to various sectors, including celebrities and athletes.
“I see a lot of demand in the uae and the saudi arabia region, because they have young population who are digitally native gamers”
In a recent collaboration, Verse Estate partnered with Sense Up Management to launch the ‘Join the Planet’ initiative.
The partnership between Verse Estate and a prominent regional business entity exemplifies the forward-thinking approach in embracing new technologies.
Supported by football players and celebrities, this project aims to raise awareness about plastic waste in sports through immersive experiences.
“As someone who comes from a family of entrepreneurs and has always been surrounded by innovators, tech investors, I have a natural inclination to test new ideas”
Leila describes that The Middle East, especially the UAE and Saudi Arabia are digitally oriented and the young generation is a native, gaming-oriented population, coupled with substantial government investments in emerging technologies, driving this interest.
Verse World, a metaverse developed by Verse Estate, caters to diverse needs across residential, commercial, and recreational districts. It empowers users to collaborate seamlessly within the metaverse, supporting remote work and versatile interactions.
The Path Forward
Leila’s insights underline the transformative potential of personal AI, the impact of blockchain on building a fairer internet, and the advent of bipedal robots.
Companies like Verse Estate, through innovative technology applications and sustainable practices, play a crucial role in creating an environmentally conscious and socially responsible future.
In conclusion, the Metaverse and Web3 aren’t just futuristic concepts, in fact they are transformative forces shaping our digital world.
As we navigate this digital future, users need to understand the technology, embracing innovation, and addressing challenges that will be key to unlocking the full potential of the Metaverse and Web3, where the possibilities are boundless.
Carina Schuster is a multilingual tech and science editor for The London Financial & a podcast anchor and producer for SciTech Suisse, covering groundbreaking stories in the matter of disruptive technology developments and interviewing top experts in AI, the Metaverse, Web3, Blockchain and scientific research. Throughout her experience as a journalist in the editorial and digital worlds, she was selected by CNN Money Switzerland in 2020 as a digital producer intern and has demonstrated a collaborative and creative spirit, working alongside talented journalists and delivering impactful stories with the main aim of simplifying the complexity of technology.