Herman Narula, Co-Founder and CEO of Improbable on the Shift Towards the Metaverse.

How far along have you been in your exploration of the captivating metaverse world? 

Gamers, business owners, and tech enthusiasts alike are flocking to this exciting virtual reality. A metaverse is a place where anything is possible, from virtual concerts to shopping malls. Understanding how and why the metaverse is becoming so popular is becoming increasingly important as 2023 approaches.

Improbable is a British metaverse technology company that creates cutting-edge technologies and powers rich virtual worlds for over 60 global game developers, Web3 and entertainment companies, defense and national security organizations, and other organizations in the entertainment and Web3 industries.  

They developed a method for spontaneous social interactions in virtual worlds, where more than 15,000 people can communicate with one another in lag-free, high-fidelity environments. The company, which was established in 2012, has been at the forefront of this new technology era.

We recently had the pleasure of speaking with CEO and co-founder Herman Narula. Herman discusses his motivations for starting a metaverse company and the impact he wants to make with his various projects in this interview. In addition, we discussed the most important criteria for creating true immersion and meaning in the virtual metaverse experience, the top industries undergoing a metaverse-led transformation, the significance of blockchains and Web3 in the Metaverse, and the concept of enriching human life in virtual "worlds of ideas" introduced in his new book Virtual Society.

What motivated you to establish a metaverse business and what impact do you hope to have with your current Improbable projects?

Rob Whitehead, my co-founder, and I enjoyed multiplayer games, but we felt they lacked meaning and connection to real life. Our shared desire to create virtual worlds that are larger, richer, more engaging, and more fulfilling inspired the 2012 launch of Improbable. To make this vision a reality, our company invested in technology over the following ten years, developing expertise in resolving multiplayer gaming issues.

This laid the groundwork for our current activities: For web3 companies, we create, manage, and maintain virtual worlds of unprecedented size and utility. We are also in advanced discussions to collaborate with established brands in the sports, music, and arts industries. We are able to bring together up to 30,000 people in high-density, accessible virtual environments where they can interact in meaningful ways. This is made possible by a novel technology. In addition to our metaverse services, we launched M2 (MSquared) in April of this year with the intention of developing a network of Web3 metaverses powered by our Morpheus technology that are interoperable.

In terms of impact, our objective is to create experiences in the metaverse in which individuals have genuine input, ownership, and enjoyment, and in which brands can engage with their communities in ways that are impossible in the real world. Imagine a football fan in India traveling to Manchester's Old Trafford stadium on a 3G phone, surrounded by thousands of people who are interacting, cheering, and being together. We want to discover these really interesting experiences.

The idea of enriching human life in virtual "worlds of ideas" is introduced in your new book, Virtual Society, which was published in 2022. Can you elaborate on that?

With Virtual Society, I want to present a theoretical framework for the metaverse, talk about its value and utility, and demonstrate how it can change our society. A different perspective on the metaverse should be expected from readers: one that uses psychology and history to explain how important virtual realities are to our lives and points out the technological obstacles that need to be overcome to make the metaverse truly useful and fulfilling.

The idea of "worlds of ideas" is about how people create shared, abstract realities in their minds to explore ideas, make decisions, and find a common goal. One common illustration is the use of fables by parents to teach their children moral values. We have always done this as a species, and it is important to our ability to think abstractly. The metaverse, in my opinion, is a virtual representation of these realities and the subsequent phase of our culture.

What are the most essential requirements for truly immersing oneself and finding meaning in the virtual metaverse experience?

A virtual world must have consequentiality—that your presence matters—in order to have the potential for meaning. Submersion is just the way that genuine you think the world is, which isn't sufficient to cause it to feel noteworthy. Three things are required for that: autonomy, presence, and a connection to the real world

Being able to meaningfully interact with other people and the environment is a key component of presence, which is all about how real you appear to the outside world. Being able to determine your own course in that world through your actions and choices is what autonomy is all about.

Last but not least, a significant connection to the real world is required for consequentiality in virtual worlds and, by extension, the possibility of meaning. For instance, virtual employment ought to have monetary value in the real world. Additionally, the significance of digital goods and experiences, such as memorabilia, reputation, and relationships, ought to extend into the real world.

The virtual worlds that incorporate these elements will have the same level of authenticity and significance as the real world.

What are the most important industries undergoing transformations led by the metaverse right now?

Fashion, sports, and entertainment companies are always looking for new ways to directly interact with their large, dedicated communities and generate additional revenue. The potential to increase fan engagement through exciting virtual experiences is one of the reasons these industries have begun experimenting with the metaverse.

The removal of physical barriers in the metaverse expands a brand's reach on a practical level. A brand, band, or team can bring thousands of fans from all over the world together through a virtual experience without having to spend time or money traveling to one of the usual big-city venues. In addition, fans can interact directly and spontaneously with stars in real time at massive live events like runway shows, gigs, and large-scale live events in the metaverse.

How significant are Web3 and blockchains in the Metaverse?

Because they make it possible to create and transfer value, Web3, and specifically blockchain technologies, are essential to the economic aspect of the metaverse. Digital assets can be secured using blockchain-based solutions, ensuring their unique properties and ownership. All of this is crucial to developing a fully functioning virtual economy in which virtual assets can be created, traded, and sold.

How will the metaverse impact our lives in the next five to ten years and where does it generate the most value?

One of the most important themes running through Virtual Society is that the metaverse is more than just a way to have fun; it is also the start of a new economy and a part of our culture's next evolution. That seems like a bold assertion, but when you break it down, it comes down to the way the metaverse adds value to our lives by being a real part of them.

Our cultural norms have changed significantly as a result of this. On the off chance that our activities in the virtual world have genuine and significant associations with the genuine one, then, at that point, we should adjust to and acknowledge the idea of having a virtual perspective to our lives, by finding better approaches to work and mingle.

It makes it possible for users to create and sell digital assets or provide useful experiences for others, both of which can lead to lives that are more satisfying. These things are intrinsically motivating because they produce actual value.

What advice would you give to business owners who work with distributed technologies?

Be focused on assisting your clients in resolving issues, not on what your rivals are doing. This is especially true in a new market like Web3, where people are still learning the basics.

While the current crypto winter is challenging and testing for many projects, the objective ought to be to continue to thrive to the fullest extent possible and not to overlook the significance of long-term ecosystem development. It's risky right now to focus on short-term gains. As the industry grows, so will the value of the infrastructure we currently construct.