![]() ![]() Koivumaa adds that future big metaverse players are likely to be born in the metaverse. Startups will prioritise fast and agile players, and big companies might have a hard time adjusting to the new business environment. Rosendahl agrees, pointing out that ZOAN is cutting $100,000 deals, even $1m deals, via WhatsApp using cryptocurrencies. Often, smaller companies play better with other small players. What promises rapid success initially can quickly turn into a nightmare because large companies have a slow procurement process and startups tend to require instant cashflow. These companies are agile and creative, but Shannon also offers a cautionary tale of working with big players. Leslie Shannon, head of ecosystem and trend scouting for Nokia, points to many of the companies that showcased their products and services at this year’s SXSW. “There are emerging use cases that never existed before, new opportunities that we still have to explore – there is a lot of future potential.” A cautionary tale “I believe there are overlaps and partnership opportunities that we don’t even know about and that we still have to discover,” says Koivumaa. Suddenly, a collaboration between Wärtsilä and Varjo and other AR/VR companies seems very natural. Now it is becoming clear that all these applications can benefit from XR. Training, meetings and design applications were handled from a very traditional point of view in the past. “Why would they?” he says – their industries were galaxies apart. He says that a decade ago, nobody would have expected Wärtsilä and Varjo, for instance, to work together. ![]() Vesa Koivumaa, head of growth for industrial-equipment provider Wärtsilä, foresees growing value chains or value webs in the future. ITI previously mainly worked in the hardware space, but now is working on AR and VR systems and implementations. He also mentions ITI Systems, an audio-visual integrator that designs and builds command centres for large companies and governments. The company’s IC.IDO software can virtually represent “ inertia and gravity and collision and sliding when handling parts”, says Bund. The company is working with Audi to simulate assembly operations in a virtual environment. For instance, he cites virtual-prototyping company ESI Group, which develops applications to simulate component behaviour and manufacturing processes. Geoff Bund, head of software partnerships for headset manufacturer Varjo, notes that smaller companies already create business opportunities for his business. The metaverse could create thriving companies seemingly from nowhere, similar to the way the internet allowed unknown startups to become today’s household names. He concedes the need for big players’ infrastructure technologies and components, but sees ample opportunities for a wide range of smaller players. Miikka Rosendahl, founder and CEO of virtual-world creator ZOAN, believes that the metaverse at this early stage offers many ways to become successful in a marketplace where legacy rules don’t apply in the same way as they do in mature markets. ![]()
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