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Unlocking the Metaverse. A Strategic Guide for the Future of the Built Environment. Edition No. 1

  • Book

  • 144 Pages
  • January 2024
  • John Wiley and Sons Ltd
  • ID: 5863800
Unlocking the Metaverse

Highly comprehensive resource providing insight into how the “Metaverse,” and digital worlds in general, can be leveraged for business success

Unlocking the Metaverse focuses on the strategic implementation of processes and the execution of Metaverse strategies, technologies, and innovations and provides readers with real world tools and strategies to succeed with market demands. The text provides a clear and concise description of what the Metaverse is and what its value means to readers and their companies.

A continuous interaction with readers inside the book’s virtual world in the Metaverse provides both structured and unstructured interactions with the highly qualified author and his guests in periodic and ongoing public events, serving as a repository of continuous learning and a sandbox for continuous innovations to be explored, analyzed, and reported.

Unlocking the Metaverse covers sample topics such as: - Construction documents and drawings, covering building information modeling (BIM), digital twins, virtual worlds, the metaverse, and level of experience/engagement measures - Specifications changing role, covering specification manuals, lifecycle, 3D geolocation specs, and 3D search - Smart contracts and tokenomics, DLT/blockchain, smart contracts, NFTs/FTs (digital building/digital asset), fractionalized ownership and digital real estate, and CBDCs, stablecoins, and crypto - Future outlooks, covering machine learning and artificial intelligence (AI) as a whole, and its probable applications in gaming and robotics

Providing authoritative coverage of an important and fast-evolving industry, Unlocking the Metaverse is an essential resource for architects, engineers, and contractors, facility managers and operators, and property owners who want to stay on the cutting edge of new forms of technology and leverage them to increase business success.

Table of Contents

About the Author ix

Acknowledgments xi

List of Acronyms xiii

Introduction: How to Use This Book xv

Chapter 1: Definitions 1

Metaverse 1

Digital Twin 4

Virtual Worlds 6

Blockchain 7

Fungible Token (FT) 8

Non-fungible Token (NFT) 8

Smart Contracts 9

Tokenomics 11

GPT 11

Chapter 2: Digital Twins, Virtual Worlds, and the Metaverse 14

Digital Twins 14

Gaming 20

Monetization 22

Virtual Worlds 23

Reality Capture and Motion Capture 24

Chase Olson - Reality Capture 25

Avatars 30

Avatar Interface 31

Avatars as Metahumans/Humanoids (MoCap) 32

NPCs as Reference Oracles 32

Virtual Worlds in the Metaverse Examples 34

Cybersecurity and Safety 37

Metaverse 38

Industrial Metaverse 41

Chapter 3: Metaverse Mechanisms and Solutions 44

Blockchain 45

Workflows 46

Capital Asset Delivery Using Smart Contracts Workflow 46

Construction Documents as the Digital DNA of the Built Environment 47

Ethereum blockchain 47

Digital Twin 48

Geo Location and Workflow 48

Facility Management 49

Challenges 49

Governance in a Decentralized Digital Environment 51

Cybersecurity 51

Trust 52

Data 53

Avatars 53

Smart Contracts 53

Value Propositions 53

Increased Efficiency 54

Improved Data Collection and Analysis 54

Accurate and Trusted Facility Data and Information 54

Tokenomics 55

Woven Collisions: NFTs and the Metaverse 56

LOE 58

Real-Estate-Backed Digital Asset Securities 59

Web 3 60

AI 61

GPT 63

ChatGPT Model 65

Chapter 4: The Crystal Ball 67

Scarcity and Abundance 69

Edge Computing 70

Censorship 72

Thought Leader Interviews 73

Damon Hernandez - The Metaverse 73

Hugh Seaton - Data 86

Cody Nowak - Process 97

Arol Wolford - The Industry's Future 104

Conclusion 109

Index 113

Authors

Paul Doherty