South by Southwest made its grand return to in-person events after two years of online conferences. Numerous prominent figures flocked to the streets of Austin, Texas, to discuss the latest technological and societal advancements poised to transform our lives. Nicolas Parpex, director of the Cultural and Creative Industries (CCI) investment division and head of the Touch plan at Bpifrance , reflects on three key trends from this 36th edition of the Texas festival.

1- Metavers: “the time for experimentation”

Anything but a buzzword . The metaverse was one of the most debated topics at the last SXSW. While it's not yet part of our daily lives, that could quickly change. But for this "vision of the future" to become a reality, many challenges need to be addressed. " We still need to equip people with the necessary hardware, develop the appropriate infrastructure, create suitable content and experiences, define business models, and also establish a regulatory framework. All of these are obstacles that need to be overcome ," explains Nicolas Parpex.

Many players have seized upon these topics, such as Meta, Microsoft, Roblox, and others. Nevertheless, addressing these different challenges will take time. " Meta, one of the most committed players, speaks of a 10- to 15-year roadmap. The Head of Content at the American firm speaks of a period of experimentation ." For the leader of the Touch plan, France has a role to play in creating a metaverse ecosystem. It must also be a pioneer and leader in the production of content and experiences. " This is a factor in accelerating cross-functionality between the Touch verticals ."

Nicolas Parpex's message to companies in the Touch sector : "You have to experiment, take risks, be bold with content and the user experience. The gaming sector is more advanced in this area because it knows how to manage digital platforms as persistent virtual worlds, monetize within that world, and create experiences. That's a significant head start, but you mustn't lose it ."

2- Web3 and NFT: “the advent of the creator economy”

Web3 was a hot topic at SXSW. “ This open movement will decentralize the internet to a great extent, allowing individuals to regain control over their identity and data. Web3 creates a true ownership model on the internet, which combines economics, art, and technology in an incredibly interesting way , ” said Sandy Carter, former vice president of Amazon Web Services, in her presentation “ Web3, NFT, Metaverse! 3 Easy Steps To Get Started .”

Several players are seizing upon this topic, particularly through NFTs. " We sense a real, transformative revolution: the creation of an ecosystem based on non-fungible digital assets ," explains Nicolas Parpex, for whom use cases are currently being developed by both creative communities and large companies. The startup Doodles has demonstrated the possibility of creating a brand from a collection of NFTs. " It's not just brands that will create NFTs of their products, but NFTs that will be able to become physical products and find their way into traditional value chains ." This data must be integrated by audiovisual producers, publishers, fashion brands, and others to develop their intellectual property and product ranges into NFTs. For example, more and more illustrators are working digitally. " Selling digital artwork as NFTs is a concrete example of the utility value of NFTs replacing a previously lost utility value ." “According to Nicolas Parpex, we are also seeing a movement of creators or communities of creators who will develop artistic NFTs or wearables (connected clothing or accessories) that we didn't see coming. This is the principle of Web 3, which is the advent of the creator economy .”

Nicolas Parpex's message to Touch companies : " Touch companies must have an NFT strategy. They mustn't be misled by the speculative aspect of the subject and should return to the utility value. Experiment, without being too gimmicky, and define strong value propositions. "

3- Diversity and inclusion: between societal challenge and business opportunity

Beyond technological innovations, societal and ethical issues permeated many discussions, such as questions of diversity and inclusion. " It's more of a fundamental topic than a trend. In the United States, the discourse is much more open on these empowerment issues," explains Nicolas Parpex. In a context of greater freedom of expression, the discussions around these topics at SXSW sought to demonstrate the value of integrating different perspectives to create a better society.

Failing to harness the potential of diversity means missing out on both creative talent and new opportunities. Many players are seizing the opportunity presented by inclusion to create businesses and open up new markets. " Today, there are video game controllers adapted for people with disabilities. In the United States, an eyewear brand has designed frames specifically for the facial structure of African Americans. On a completely different note, many fashion brands now offer gender-fluid clothing and accessory collections."

Nicolas Parpex's message to companies in the Touch sector : " Diversity and inclusion, like the challenges related to climate change, are more than a moral and ethical issue. They represent a value proposition. This is a real opportunity for Touch brands. "

Photo: Mark Zuckerberg, founder and CEO of Meta, is interviewed via video conference by Daymond John, CEO and founder of FUBU and CEO of The Shark Group, at the 'Into the Metaverse: Creators, Commerce and Connection' conference.