I recently spoke with Xno Bui, Chief Metaverse Officer at Whydah. Whydah is a Vietnamese blockchain gaming hub that aims to make Metaverse development more accessible and sustainable.
Join us as we discuss the possibilities of the Metaverse, the industries it is poised to disrupt, and what the digital future holds.
Hi Xno! Thank you for your time. Please tell us about yourself and how you found your way into the blockchain industry.
Hi! I am Xno Bui, the Chief Metaverse Officer at Whydah. It's a pleasure talking to you.
It won't be wrong to say that I was always enthusiastic about the digital future and the virtual universe. So, I was naturally drawn to the blockchain industry in 2018 after witnessing how blockchain is bringing this virtual universe to life.
But before that, I worked for over 15 years in the design and user-experience industries, everything from high fashion to interiors and brand orientation. I also have an MBA from the British School of Fashion. When I entered the blockchain space in 2018, I used my expertise to build a brand for KardiaChain. Now, with the open
Metaverse project Whydah, I am responsible for designing the images and experience for many core products.
For the uninitiated, please explain what the Metaverse is and what the digital future looks like.
Sure! So, the Metaverse is a shared virtual space or a 3D version of the internet where people can work, learn, and interact. Now we login to the internet, spend some time, and log out. But with the Metaverse, we actually get to live in these online virtual environments fully. It is like a convergence of our physical and digital realities.
So the possibilities are endless. This convergence of physical and digital realities allows us to transcend all known boundaries and experience the world like never before. People can go on virtual world tours, attend universities from around the globe, and attend meetings and conferences without leaving their houses.
The bottom line is that the Metaverse is a virtual world without limitations. Anything you can imagine, you can do. In the near future, the Metaverse is poised to change the course of the world and disrupt many industries like education, entertainment, fashion, and finance.
Talking explicitly about fashion, can you explain the need for fashion in the Metaverse and how the Metaverse will disrupt this industry?
Fashion has always been a statement of expression and a way for us to showcase our culture. And even in the Metaverse, fashion serves this very purpose. People will experience the virtual world through very realistic digital avatars of themselves. So fashion, luxury, and lifestyle goods are needed to allow us to flaunt our individual styles even in the Metaverse. The fashion industry that now caters to our physical selves will soon transform to cater to the needs of our digital selves.
As a result, designers will have myriad new opportunities for creating and earning. Fashion NFTs of tokenized outfits, accessories, textiles, and other wearables will become the norm. These NFTs will open up the scope for digital outfits to be traded or resold multiple times, creating a steady flow of new outfits for users and income for designers. Along with this, designers will also have the opportunity to acquire customers from across the world and cater to a whole new demographic.
Apart from fashion, what other industries is the Metaverse likely to have a profound impact on? Can you expand on the possibilities?
Well! The Metaverse is actually poised to disrupt the operations of all the major world industries. But, I feel it can make a very big impact in the realm of education. Today's education system is plagued with many infrastructural, and economic problems. Millions of people across the world do not have access to education simply because of the geographical location they're born in.
The Metaverse, though, is poised to transform this. It creates the possibility for everyone to access high-quality education from any part of the world. It helps overcome the infrastructural and economic issues with virtual learning environments and universities. Students can attend classes, meet teachers, counselors, and peers, and visit extensive libraries virtually. They can also personalize their learning experiences and learn on-demand.
That's amazing! Now, coming to your project Whydah, can you tell us more about its vision and what it aims to create?
With Whydah, our vision is to create a truly open Metaverse. We aim to eliminate all barriers to developing the Metaverse and gaming experiences by creating tools and services that are suitable for developers, creators, gamers, and investors alike. In other words, we aim to make Metaverse and game development more accessible and sustainable.
We offer user-centric mechanics and other user-based activities to lay the foundations for a strong community of gamers, tech users, and digital natives. Along with this, we also give investors the opportunity to invest in these up-and-coming projects and build the open Metaverse of the future.
That's quite intriguing. But, from your experience, what challenges do you think we will face in the transition to the Metaverse?
The development of the metaverse is heavily dependent on the evolution of underlying technologies, mainly blockchain and VR. VR headsets are the main entry point into the metaverse but as of today, they are not very easily accessible or wearable. This is a challenge because people expect a more seamless transition into the digital world.
Then, the underlying blockchain technology still has some issues like scalability and network congestion that take away from a good user experience in the virtual worlds. But luckily, the industry is working toward solving these issues with utility-centric blockchains and easily accessible VR sets.
That being said, I also believe that the general skepticism surrounding the Metaverse is a problem that we can encounter during the transition.
Lastly, what advice would you give to entrepreneurs and investors eyeing this space?
For entrepreneurs, investors, and users alike, the Metaverse creates opportunities like never before. The new age of entrepreneurs is in a good position to capitalize on the growth of this industry by building virtual experiences and worlds. My advice to entrepreneurs would be to keep building to bring this technological mammoth to life. To investors, I can say that supporting these entrepreneurs in their vision can allow them to participate in creating the virtual future and take away a share of the profit pie.