Alexander Pershikov, the transport evangelist, founder of GetTransfer.comserial entrepreneur and a metaverse visionary.
Although Generation Alpha (children born after 2010) are still very young and just beginning their journey, many experts are already trying to figure them out.
The generation theoryDeveloped in the early 1990s by Neil Howe and William Strauss, it describes a recurring cycle of generations, each shaped by today’s social and economic climate. Generations change about every 20 years and the whole cycle starts over every 80 years.
This theory was an attempt to understand the motivations and basic values of a generation: what shapes their beliefs and what beliefs, attitudes and behavior patterns unite them as a group. According to this theory, all generations go through certain phases: the High, the Awakening, the Unraveling and the Crisis.
Historically, 20 years was always enough for a generation to go through all these stages. But the world is constantly accelerating. According to the law of acceleration returns, it is likely that in the next 10 years humans will go through as many transformations as all of humanity has experienced in thousands of years. This may sound overly dramatic, but look at the pace of technology and how it affects our daily lives. The accelerating pace of progress has also shortened the cycle of generations. If baby boomers were considered the kings for 20 years before being replaced by Generation X, with their current purchasing power and influence, Alphas are ready to take over from Generation Z much faster.
Understanding Generation Meta
Understanding these generational trends helps companies choose the right audience for their goods and services. From this you can analyze and predict customer behavior by assessing the trends within these groups. In general, understanding today’s children – who the future voting citizens and consumers will be – can give us an idea of what our society will look like 10 years from now.
In that regard, meet Generation Meta – people who have lived in two realities from the moment of birth: a physical and a digital one. The virtual world includes popular video games and the first meta-universes, all of which are available to children from an early age. Examples include Roblox, Minecraft, Fortnite, The Sims and the gradual evolution we saw from Facebook and Instagram to Meta. These platforms will influence the formation and habits of the new generation.
But I’m not just talking about a distant future – it’s happening now. After all, representatives of Generation Meta have been born for two years since the start of the Covid-19 pandemic. They are exposed to multiple new stimuli and will be increasingly interested in digital goods. Through these experiences, they learn to value their digital identity in new ways.
I predict Generation Meta will show a greater appreciation and ability to act differently in alternate worlds; if they don’t like the physical world, they can choose to live in the metaverse. They will grow up with experiences of seamlessly shifting their consciousness between both digital and physical spaces. Of course, as valuable as these experiences may be, there is also great challenge and danger to this new frontier. But for businesses, there will be more room for growth in both the real and digital worlds and opportunities to provide customers with everything they need; look at virtual worlds as a new way to profit, gain popularity and build a loyal consumer community.
Another unconditional value to Generation Meta is their privacy and the ability to choose to be anonymous or public in the real world. Related, they will also appreciate the ability to selectively deanonymize or anonymize their digital identities. Using new technologies such as blockchain and biometric systems, companies can help protect digital avatars and personal data from theft. It is clear that cyber attacks and digital fraud will continue to occur, but a modern approach to security vulnerabilities will minimize the level of digital threat in the metavers. Therefore, companies themselves should actively work to preserve and protect data and strive to become independent from third-party platforms.
I think the new generation will see nothing wrong with fulfillment obtained in the digital world and will even appreciate it as a supreme form. It will be normal for them that dopamine and endorphins are no longer necessarily produced from things in the physical world, but from experiences in a digital reality. Their pumped up avatar could even become more vital than their physical appearance. Likes are already becoming the new indicator of attractiveness and social capital.
In the same vein, I predict that the new generation will appreciate alternative currencies. This also applies to cryptocurrencies, which fit within a philosophy that values less control or boundaries. Of course, the ever-valuable currencies of the new world age, public support, approval, attention and reputation will remain important. In terms of employment, new ventures such as hiring for the digital world and solving virtual problems are likely to become prestigious and more frequent for Generation Meta.
Catering for a new generation
What will be the requirements of Generation Meta as customers and consumers of services? Instant experience will be important to them and the demand for all kinds of virtual attributes will come to the fore. They will trust the platforms where they spend most of their time. In many ways, Meta Generation people will prefer meta experiences over real ones, especially if companies can deliver high-quality, virtual experiences. I see technological advances such as 8K-plus image quality blurring the difference between the real and the imaginable. Sooner or later, people will get used to virtual experiences and brands will be forced to find ways to entertain the community in this way. An example of this is digital travel to the presbytery.
New metaverses are growing up among us, and the Meta Generation is coming. The sooner we create conditions for this development and realization, the greater the chance that companies can facilitate a friendly transition to this hybrid form of digital and real life.