Say hi to the virtual economy

• Virtual goods in games: players buy digital items, such as weapons and clothing, for their characters. Some virtual items can fetch millions of dollars.
  
• Digital art and collectibles: non-fungible tokens (NFTs) have created a booming market for unique digital artwork and collectibles, with sales reaching hundreds of thousands of dollars.
  
• Virtual real estate: people are investing in virtual land and real estate in online worlds such as Decentraland and The Sandbox.
  
• Digital fashion and accessories: consumers are spending money on virtual clothing for their online avatars.

A central concept in the book The Virtual Economy is the "3 lenses" framework, a valuable tool for exploring the future.

1. Follow the kids

The first lens focuses on what kids are doing, or Generation Alpha. "What are the kids' behaviors? What are they spending their time and attention on? That's crucial to understand," Dado emphasizes. This generation is growing up in a digital world where technology and social media are integral parts of life. Gen Alpha's are constantly connected and spend a lot of time in virtual environments such as gaming platforms. As such, their preferences and behaviors will have a major impact on the marketplace.

2. Follow the developers

The second lens focuses on developments in software and hardware technology. Developers play an important role in the creation of the future. From AI innovations to blockchain technology to 3D worlds, the changes are rapid and far-reaching. By analyzing where developers are spending their time and resources, companies can anticipate new opportunities and trends.

3. Follow the money

The final lens is about financial flows: what are customers spending their money on and what are large tech companies investing in? By following the flow of money, companies get a better idea of which products and services will be relevant in the future.

"It has never been so difficult to predict the future. The first waves of the Internet were still manageable. Today that is different," Dado said. "Not only technology, but also geopolitical factors play a role in this dynamic environment." The "3 lenses" framework provides a structured approach to better understand this complexity.

By looking at the behavior of younger generations, technological developments and financial flows, companies can better prepare for the challenges and opportunities ahead. At a time when uncertainty is the norm, the "3 lenses" framework is a valuable tool for companies looking to thrive in the virtual economy.

Listen to By Humans: episode 3