Web3, Metaverse, and the Future of Work: Transforming Jobs, Economies, and Education

I am pleased to announce that the Web3 Institute is collaborating with the Vest Web3 Investment Community.? Vest is a? carefully curated investment community centred around Web3, Blockchain, Metaverse, AI and DeFi, paving the way for the evolution of sectors that will shape the future of the internet and how we interact and exchange value.

Vest is a community and investment platform reimagining the systems in which we grow wealth, trust, and ownership through the power of fractional equity.?

The? primary focus of the Vest Web3 community? is on identifying the most groundbreaking and internationally scalable Web3 enterprises and providing them with funding from strategically aligned and forward-thinking investors and collaborators.

If you are interested in joining the community, please click here.

The Impact of Generative Pre-Trained Transformers (GPTs) on the Future of Work

Jobs are changing. Eloundu T et al. (2023) found that approximately 80% of the U.S. workforce could have at least 10% of their work tasks affected by the introduction of Generative Pre-trained Transformers (GPTs), and 19% of workers may see at least 50% of their functions impacted. These findings emphasize the importance of science and critical thinking skills. As technology evolves, so too will jobs. Data analysts, AI and ML specialists, cybersecurity specialists, 3D animators, digital marketers familiar with new technologies, and technicians can design, install, and maintain renewable energy systems.

Metaverse: A New Frontier for Human Interaction and Transformation

By 2030, 700 million people will inhabit digital worlds. These digital worlds offer endless possibilities for human interactions and social transformations. As the Metaverse evolves, leaders must consider how culture, technology, and behaviors are intrinsically linked to ensuring better outcomes for businesses and society. The open Web3 Metaverse will be a human system, a place for people, cultures, and communities to come together.

Web3 and Tokenized Incentivization: From Corporations to Community-First

I have written before about how Web3 and the open Metaverse are creating new economies and ways of human interaction. The combination of game theory and blockchain creates tokenized incentivization in virtual worlds. This establishes the move from corporations to community-first. The community forms around an idea or interest through engagement and collaboration, and concepts emerge from the community. These Web3 communities are collaborating, evangelizing, and creating tribal network effects, all helping each other drive the value of their platform. The more people use or promote the community, the stronger the game and underlying blockchain become. Community members are stakeholders. Individuals, rather than companies, become the agents of innovation in a distributed collaboration model. This creates the data infrastructure to enable a harmonized, interconnected open Metaverse that allows tokenized NFTs to include digital data rights and to store, track, and enforce those rights.

This paves the way for people who had been financially excluded to find employment and economic opportunities. The system will be built on decentralized finance (DeFi), which underpins the open Metaverse. The open Metaverse is powered by blockchain and Web 3.

Digital Ownership and Economic Freedoms in Web3

In a Web3 world, we can have actual digital ownership with related economic freedoms and opportunities. When you own an NFT, such as virtual land in the Metaverse, you become a stakeholder and an owner. Anytime you own an asset in Web3, it represents a stake in the network in which you wish to participate. This is a new economy where every participant can also become an owner.?

Virtual Economic Societies and Job Opportunities in the Metaverse

All the data we generate today should be paying us an income, and this is possible with Web3. Contrary to some opinions, there will be the possibility to access the open Metaverse via mobile, tablet, and 2D screens. We will see virtual economic societies creating businesses, enterprises, and job opportunities for millions of digital citizens.

The Uberization of Education: Transforming Learning in the Web3 Metaverse

Coupled with this, the "uberization" of education will enable us to harness technology to create on-demand, flexible, and affordable learning experiences accessible to anyone with an internet connection. The International Association of Virtual Reality and Augmented Reality estimates the global market for virtual and augmented reality in education is expected to reach $17.8 billion by 2025, with a compound annual growth rate of 51.5% from 2020 to 2025 (IAVAR, 2022). The Web3 Metaverse education market is expected to grow significantly. Revenue in the Metaverse Education segment is projected to reach US$56.73 million in 2023. Revenue is expected to show an annual growth rate (CAGR 2023-2030) of 44.98%, resulting in a projected market volume of US$763.70 million by 2030. There is work to do. The technology infrastructure must be developed, including hardware and software for virtual and augmented reality, high-speed internet, and cloud-based storage and computing. High-quality, engaging content will be required, including 3D models, animations, simulations, and other interactive materials. Instructors and AI avatars to develop and deliver the program would also be a significant cost. These programs will require marketing and outreach to promote the program and attract learners worldwide.

Experiential Learning in the Web3 Metaverse: Shaping the Future Workforce

One of the main benefits of the Web3/Metaverse for learning is the ability to create immersive and interactive experiences that can engage and motivate learners in a way that traditional methods may not be able to, and to give them the skills for the new virtual worlds. People can be educated in the Metaverse for these new economies. The Web3 Metaverse offers the potential for experiential learning, where students can apply and practice their skills in realistic and authentic environments. The Web3 Metaverse could thus be re-imagined as a vehicle of choice for delivering education. With education and community-owned and driven economies, there will be new jobs and new economic opportunities as yet unimagined.

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