MDX 2024: Beyond gaming, expanding horizons in the metaverse

• Exploring potential of metaverse to reshape how we work, live, play
• More than a tech trend; a transformative force shaping future of various industries

At the Malaysian Digital Xceleration Summit 2024, held in Kuala Lumpur, Oct 23-25 the metaverse was in the spotlight. A panel featuring industry players Jason Low of Virtual Tech Frontier, Jessy Kim of Gravity Ventures, and Jeremy Choo of AmmoBox Studios took attendees on a deeper dive into the evolving digital realm.

They painted a picture of a world where virtual interactions are seamlessly woven into everyday life—extending beyond entertainment into workspaces, education, and even healthcare. The panel was moderated by creative content leader, Hasnul Hadi Samsudin, Head of Playstation Studio Malaysia.

Envisioning the metaverse’s transformative potential

Hasnul highlighted the metaverse’s extraordinary ability to forge connections beyond physical boundaries, pointing out its rise in popularity, likening it to the captivating scenes in Ready Player One.

While the film illustrates virtual immersion, Hasnul encouraged the audience to envision a future where digital interactions reshape our reality, presenting the metaverse as a vibrant space for meaningful connections, creativity, and adventure.

Jessy shared her vision of the metaverse’s global impact, noting, “The metaverse isn’t confined to gaming; it’s about merging offline and online worlds, creating spaces that add value to both individuals and companies.” Jessy highlighted how Korean schools are leveraging metaverse platforms for immersive learning, enabling students to “visit” historical sites and engage with academic content interactively. Jessy’s insights underscored the metaverse’s potential to revolutionize multiple industries, from education to e-commerce and beyond.

From gaming to global connectivity: Building a digital ecosystem

Jeremy Choo from AmmoBox Studios, presented a compelling case for gaming as the natural precursor to the metaverse. Drawing on years of experience creating immersive worlds, Jeremy noted, “For younger generations, gaming is often their first encounter with a digital experience that feels social and immersive.” He highlighted that games like Roblox and Fortnite serve as more than just entertainment; they are vibrant spaces where friendships form and communities thrive, signaling a shift in how digital interactions are perceived.

This transformation is profound. Unlike previous generations, who viewed the internet primarily as a tool, today’s digital natives perceive it as a dynamic space encompassing their social, educational, and professional lives.

Jeremy cited the 2020 Travis Scott metaverse concert (pic, below), which attracted millions of viewers, as a significant example of this shift toward experiencing real-world events in virtual settings. This evolution indicates a growing acceptance of the metaverse as a viable platform for various interactions, enhancing its role in daily life and work.

One of the session’s most resonant discussions revolved around how the Metaverse is shaping education and talent development. Jason shared his experiences with students, revealing the magnetism of virtual worlds like Roblox among Malaysian youth.

“When I asked a hall of Form Five students how many were still on Roblox, almost every hand went up,” Jason said, interpretating this as indicative of a generational shift. “Today’s youth aren’t just consumers—they’re building a new digital economy where they learn, socialize, create and even monetize it. It’s a glimpe into a future where digital worlds play a central role in work and social lives.”

Metaverse goes beyond entertainment

While gaming may be the metaverse’s most visible face, the panelists agreed that its potential extends far beyond. Jason emphasized that sustainability and purpose must be guiding principles for any company venturing into the metaverse.

Virtual Tech Frontier’s recent collaboration with a private hospital serves as a compelling example. They created a metaverse experience that allows patients and doctors to visualize user journeys for new medical equipment, demonstrating how virtual simulations can be used in practical, impactful ways. “It’s about functional, immersive experiences that enhance understanding and interaction in ways previously unimaginable,” Jason explained.

Jessy echoed this sentiment, highlighting Gravity’s focus on creating solutions for B2B environments. With applications in e-commerce, healthcare, and productivity tools, the metaverse is becoming an ecosystem that integrates every facet of life, including workspaces that allow teams to collaborate in digital environments as naturally as if they were in the same room.

MDEC’s IP360 Metaverse Program: A catalyst for local talent

MDEC’s IP360 program supports Malaysian content creators in developing original intellectual property (IP) for the metaverse, encouraging them to showcase unique content and expand the country’s digital footprint.

AmmoBox Studios, for instance, has brought live events into virtual spaces, delivering seamless, interactive experiences for a global audience. “We’re entering a new era where experiences carry more weight than visuals,” Jeremy noted. “The IP360 program empowers creators to make this leap.”

As the panelists concluded, it was clear that the metaverse is more than a technological trend; it’s a transformative force shaping the future of various industries. However, Jessy cautioned that building a functional metaverse ecosystem is complex, with interoperability of systems presenting a significant hurdle. Additionally, attention to data security is crucial, particularly in sensitive sectors like healthcare and finance.

Lan Ghafar is Contributing Editor at Digital News Asia