Lessons from the Leading Metaverse Expert: Cathy Hackl
Cathy Hackl is commonly regarded as the most powerful individual in the Metaverse expert list. She is a world-renowned metaverse strategist, business leader, lecturer, and author and is often known as the Metaverse’s “godmother.”Cathy is presently the chief metaverse officer and co-founder of Journey, having previously held roles at companies including HTC VIVE and Magic Leap. The Journey is a consulting organization whose mission is to integrate companies into the Metaverse.
“This is, in my opinion, another step toward blending our digital and actual lives.” According to Cathy, “it’s all about virtual shared experiences that occur in both virtual and physical locations.”
Many technologies make it conceivable, including augmented reality (AR), virtual reality (VR), edge computing, blockchain, cloud computing, and artificial intelligence. In other words, it is neither a single kind of technology nor a single type of company. A significant number of diverse companies are constructing it.
I was recently featured in @60Minutes‘ episode on the #future of the internet, the #Metaverse, #NFTs, #web3, #AR, #VR, #XR. This has been a lifelong dream & I’m honored to be 1 of the female voices that is helping #brands & #organizations understand & enter the #metaverse. https://t.co/qXI8yt4pzB
— CathyHackl.eth (@CathyHackl) June 24, 2021
The Metaverse may be seen as a multi-layered perspective on the world. There is a physical layer, also known as layer zero, and a digital layer, and on top of the material and digital levels are these virtual layers. Of course, contestation may also lead to the hype, which the Metaverse and its underlying technologies have also been a part of. Cathy recognizes that hype may hinder the growth of a firm, and she is determined to avoid it.
Cathy thinks that the Metaverse will eventually replace the current mobile internet. This is an issue on which we can all agree. Therefore, while working with a company or communicating with a client, I make it a point to avoid addressing the past and future and instead focus on the present.
“Let us not get entangled in all the uproar. And while we’re at it, let’s explore the evolution of the internet through time and how it has affected your career and personal life. How does further development or convergence affect your industry? What do you want? What do your employees want?
Additionally, Cathy thinks that the notions of the Metaverse and Web3 are being used interchangeably, which she disagrees with.
“A considerable number of people tend to interchange Web3 and Metaverse. I do not believe they are interchangeable. They are intrinsically linked but cannot be replaced because “web3” refers to how people, places, and things will be connected to the internet shortly.
“Contrary to popular belief, we will meet that successor state in the Metaverse.” Therefore, one pertains to the relationships between objects, while the other relates more to how we experience them. Meta is one of the firms aiming to establish this successor state. Cathy emphasized that despite the presence of several other firms in the Metaverse, Meta must still be held accountable for the things they create:
The issue then becomes, how can we hold them accountable for their actions? I think it has something to do with having uncomfortable conversations and educating people, which starts with ensuring that our legislators are competent.
In addition, Cathy asserts that “it starts with us feeling educated about what is being done with our data.” and engaging in really uncomfortable interactions with several commercial organizations. I think it will be necessary to challenge some parts of the current quo.
Cathy then elaborated on the need to have a much higher level of education, saying: “One of the things I want to do in Washington interacts with a range of politicians and organizations.” I am committed to education. Legislators should be aware of the Metaverse and these technologies and make every effort to initiate the essential discussions as soon as possible before it is too late. ”
Migration of the labour force is another critical issue associated with the Metaverse. Currently, specialists are leaving their traditional jobs to advance in the web3 field, a trend that Cathy not only observes but actively participates in: You may anticipate a rise in specialists who abandon traditional technologies or media in favour of web3 and the Metaverse because it is unique and intriguing. It is a pattern that requires development. According to Cathy, “so I see a great deal of this enormous movement.”
She also says, “I mean, myself, I left. It would help if you recognized that I was an executive by no stretch of the imagination. However, to start my Metaverse consulting business, I had to leave Amazon Web Services, one of the safest places you could be during a pandemic. In ten months, I was able to sell my Metaverse consulting firm, following which I was acquired.”
She said, “Similarly, one of the things I’ve started doing differently over the last year and a half is that I’ve started putting money behind my words, investing in women, etc.” I’m a partner at outlier ventures. Putting on an investor’s hat has been a fascinating experience for me. I will begin investing in what I believe will be the future generation of the internet.
She said, “I would want to establish a fund to invest in the future of fashion, luxury, and beauty since I am passionate about this industry and have spent a great deal of time working in it.”
Additionally, Cathy said, “I suppose that would be fun. And I feel it’s vital for me, on a personal level, to continue to be someone who people from underrepresented groups, especially women, can look up to so that they don’t see the same old familiar faces”.