Harnessing the Power of Ecosystems for Metaverse Products: A Keynote by Lisa Watts

As digital landscapes continue to evolve, the quest for creating high-impact products and platforms in the metaverse remains a focal point of innovation. Lisa Watts, CEO of OneTwenty1 and an industry leader in the metaverse sphere, addressed some of these implications with an enlightening keynote at this year's Augmented World Expo.

In her keynote titled "Harnessing the Power of Ecosystems for Metaverse Products'”, Watts elucidated on the vital concept of the network effect and emphasized the critical role strategic partnerships play in driving success in the Metaverse space. The notion that these partnerships aren't merely about increasing user numbers was a key takeaway, and Watts demonstrated that integrating products into existing ecosystems, thus tapping into an already established user-base and adding value to partners, is the primary benefit of network effect partnerships.

Watts furthered this point using the example of Instacart's partnership with grocery retailers. This collaboration allowed Instacart to provide an additional convenience to the existing customer base of these stores, while the stores themselves got the opportunity to reach online shoppers without having to create their own digital infrastructure. This created a win-win situation for Instacart, the grocery retailers, and the end customers.

Drawing on symbiotic relationships such as this, Watts emphasized that the key to a successful partnership strategy lies in identifying and aligning with partners who offer complementary services, share a similar vision, and cater to a demographic that aligns with our own. Such a mutual approach, Watts concluded, can drive the network effect, fueling growth and contributing to success in the rapidly evolving metaverse market.

If you missed the live keynote or want to revisit Watts' indispensable insights, you can watch the full video here:

​Watts' perspective provides a pivotal lens for understanding and navigating the complexities of the emerging metaverse space. As the digital landscape continues to evolve, her insights during this presentation will continue to guide us in harnessing the power of new ecosystems for creating impactful metaverse products and platforms.