Advertisement
The View
OpinionComment
Mark Purdy
Mark Purdy

The View | Can the metaverse usher in a new era of post-pandemic globalisation?

  • It may seem an unlikely saviour of global trade, but the metaverse can speed up supply chains by tracking goods and digitalising custom procedures
  • The platform also makes it easier for global teams to collaborate, and can involve consumers earlier in the production process

Reading Time:3 minutes
Why you can trust SCMP
A container ship in Rotterdam harbour in the Netherlands. The traditional model of globalisation has been assailed by shocks such as pandemic-induced lockdowns, trade disputes and geopolitical conflict. Photo: AFP
Mark Purdy

In May, Sultan Ahmed bin Sulayem, the chief executive of DP World, one of the world’s largest ports and logistics operators, made an intriguing announcement: the company would, by the end of the year, build a metaverse platform spanning its diverse operations in logistics, trade, education and other sectors.

Advertisement

The 3D platform would, he explained, speed up the flow of goods across supply chains, increase visibility into supply bottlenecks, and provide a more collaborative and immersive training ground for the company’s extensive global workforce.

Coming in the midst of a Davos meeting that had been dominated by collective CEO angst over the gathering forces of “deglobalisation”, the announcement seemed to offer renewed hope for a traditional model of globalisation that has been assailed by successive shocks of pandemic-induced lockdowns, trade disputes and geopolitical conflict.
At first blush, the metaverse – essentially a collection of virtual, 3D worlds in which people can socialise through their avatars, create and sell digital goods, and work and collaborate with colleagues – seems an unlikely saviour of global trade and ways of working.
In the metaverse, you can buy a plot of virtual land in downtown Shenzhen, trade sporting collectibles, memes and even tweets in the form of non-fungible tokens, and attend virtual parties and meetings.
Advertisement

All exciting possibilities, but in the real world roughly three-quarters of global trade is still about moving goods, commodities, materials and other “stuff” around. The metaverse may be a great place to hang out with friends or go to a virtual concert, but it isn’t going to be much help with importing a tractor or running a network of production facilities.

Advertisement