EP.78: Brands, Creators, IP & the Next Generation of Gaming with Chris Heatherly - CEO, Great Big Beautiful Tomorrow
Nov 14, 2023
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Chris Heatherly, veteran executive in the games industry, discusses the modern state of brands and IP in gaming and the metaverse. Topics include backlash towards Web3 and NFTs, switching costs in the economics of gaming, brand and IP management in a digital world, generative AI's impact on the metaverse, and the future of the gaming industry.
The Metaverse represents a shift to a decentralized environment where individuals own their identity, data, and virtual items, offering more control and freedom on the internet.
Platforms like Roblox and Fortnite Creative enable anyone to build and monetize their own games and experiences, disrupting traditional gaming business models and propelling the next generation of the internet.
Generative AI in the Metaverse has the potential to facilitate mass personalization, adaptive gameplay, and immersive storytelling, making game development more accessible and affordable.
Deep dives
The Emergence of the Metaverse
The podcast episode explores the concept of the Metaverse as the next big technology platform that will shape human experiences on the internet. It discusses the confluence of blockchain, digital item ownership, and decentralization in transforming internet dynamics. The Metaverse is described as a shift from centralized web 2.0 experiences to a decentralized environment where individuals own their identity, data, and virtual items, allowing for more control and freedom in navigating the internet. It also highlights the transformation of entertainment from linear content dominated by television and film to interactive and digital media like YouTube, TikTok, and video games, emphasizing the rise of multiplayer experiences, creator economy, and the potential for people to build entrepreneurial ventures within games and other platforms.
The Role of Platforms in the Metaverse
The podcast delves into the significance of platforms like Roblox and Fortnite Creative in the wider ecosystem of the Metaverse. It mentions that these platforms enable anyone, from professional companies to individual creators, to build and monetize their own games and experiences. The discussion focuses on the economic advantages these platforms offer, such as lower development costs, shorter time to market, and the ability to create content that appeals to a wide audience while providing a more personalized and unique online presence. The potential for these platforms to disrupt traditional gaming business models, as well as their role in propelling the next generation of the internet, is highlighted.
The Impact of Generative AI in the Metaverse
The podcast explores the role of generative AI in the Metaverse and how it can drive major advancements. It suggests that generative AI will facilitate mass personalization, allowing individuals to have unique online personas through customized avatars, inventories, and other in-game content. It also discusses how generative AI can enable the dynamic tuning of games, adapting gameplay to individual skill levels and providing a more inclusive gaming experience. Additionally, it highlights how generative AI can enhance storytelling by creating responsive and adaptable narratives, offering players a more immersive and engaging gameplay environment. Finally, it addresses the potential cost benefits of generative AI, making game development more accessible and affordable for smaller teams and individual creators.
Opportunities for Brands and IP Owners
The podcast emphasizes the opportunities for brands and intellectual property (IP) owners in the emerging Metaverse space. It advises IP owners to leverage platforms like Roblox and Fortnite Creative to monetize their IP and engage with a wider audience. The discussion highlights the potential for brands to create unique and compelling experiences within these platforms, reaching a highly engaged user base and fostering ongoing monetization opportunities. It also emphasizes the importance for brands to adapt to the changing media landscape, embrace the internet, and prioritize brand health and engagement metrics to remain culturally relevant in the digital age.
The Future Landscape and Exciting Opportunities
The podcast concludes by discussing the future landscape of the Metaverse and the opportunities it presents. While acknowledging the volatile and transformative nature of the current environment, it encourages entrepreneurs and creative individuals to seize the opportunities that arise from such change. It emphasizes the concept of creative destruction and emphasizes the importance of staying ahead of the curve, understanding the direction of trend lines, and positioning oneself for success. The podcast highlights the potential for innovative and disruptive ideas to thrive in an environment where established players may be slow to adapt, creating a wealth of opportunities for those who embrace the dynamic nature of the Metaverse.
This week Yon welcomes Chris Heatherly into the metaverse to chat about all things brands, creators, and IP in the next generation of gaming.
Chris is a veteran executive in the games industry and has been an innovator and leader at the intersection of entertainment and technology for over 20 years. He ran the games business for both Disney and NBCUniversal as a general manager. His experience working with brands and IP such as Pixar, Marvel, Star Wars, Jurassic World, and more make him an ideal guest to break down the modern state of brands and IP in gaming and the metaverse.
During their conversation, Yon and Chris discuss the backlash towards Web3 and NFTs in recent years, why switching costs matter so much in the modern economics of gaming, IP management in a digital first world, and much more.
Chapters:
Introduction (00:25)
Defining the Metaverse (01:10)
Connection and Interoperability (04:50)
Deciphering the Backlash Towards Web3 and NFTs (09:37)
Switching Costs and the Modern Economics of Gaming (22:09)
Growth Challenges for Platforms like Roblox and UEFN (31:32)
Brand and IP Management in a Digital World (40:17)
Generative AI’s Impact on the Metaverse (51:52)
What the Next Year Has in Store (58:35)
Check out Chris’ studio’s newest game launch, The Mystery Society, by visiting here.
