Hendrik Hey, Founder of MILC, Has Advice for Those Looking to Make It in the Metaverse

Though the metaverse became a hot topic recently, many people still have no idea what it is, or even what it is capable of. And they know even less about how to use it for entertainment. MILC (Media Industry Licensing Content) Founder Hendrik Hey hopes to change that with MILC’s own metaverse, a new, inclusive, and inviting virtual environment for entertainment distribution and creatives of all kinds.

“Technology can make the entertainment industry more effective by creating an ecosystem where people can trade, network, and collaborate,” explained Hey. “What we’re creating is tailored to media, entertainment, and the infrastructure of those industries.”

What’s particularly exciting about MILC’s metaverse is that it has a very specific mission and purpose.

A Metaverse for Creatives

“There are many metaverses, but few have a true identity. MILC is a multimedia content platform and marketplace with few, if any, competitors and a built-in audience of creatives hungry for new ways to share their content,” said Hey. “The entertainment and creative industries are always open to new ways of doing things, and we believe they will embrace this. Because the truth is, if nobody uses your metaverse, it can't be successful.”

This new metaverse is just one part of MILC’s multifaceted business, which also trades in blockchain-managed licensing, trading, and sales of video content. To create even more excitement around the new marketplace, MILC is partnering with Film Verdict Magazine in March to launch the first film festival in the metaverse.

Hey has worked in video distribution for years and watched as entertainment fields tried and failed to agree on distribution standards for web2, leaving private companies to do it themselves — to their own benefit, of course.

“I really hope that we don’t make the same mistake in web3 that we did in web2. For example, the music industry could not agree on a distribution standard, so iTunes and Spotify did it. Then the same thing happened with Netflix for the film industry,” said Hey.

Media Members in the Metaverse

For creators and media companies, MILC’s metaverse is a place to explore and connect with their peers.

It lets creators retain control and ownership of their content while accessing a platform where the content can be seen by producers, distributors, and target audiences. It allows access to trading in a marketplace that has the power to become a digital media and entertainment city.

But more importantly, it provides a much-needed infrastructure for content creators, multimedia workers, and production companies to create their own direct-to-consumer marketplace in the third dimension — one where all the unnecessary noise has been filtered out, and they can share their message clearly.

Advertisers and the Metaverse

MILC’s new metaverse is of interest to more than just creatives and their fans. It also opens up a new world of opportunity for advertisers to engage with audiences in new and exciting ways.

With the new platform comes a social community component poised to become the next disruption to media distribution. This allows advertisers to get in at the ground level and become part of the conversation. With the chance to build and grow along with the new multiverse, advertisers can become an important part of the community instead of something other users actively try to avoid — as is the case with the banners, pop-ups, and video ads that have become ubiquitous annoyances on web2.

“Traditional ads and banners may be dying in web2, but in web3, advertisers are introduced to a whole new (virtual) world where they can add value and brand awareness to the consumer experience,” said Hey.

Early advertisers in the new metaverse love that they can directly connect and engage with early adopters and tech-curious audiences across a range of target customers. And Hey predicts that when other advertisers begin to see like-minded communities gathering in the metaverse to experience, explore and create together around their favorite art, artists, and entertainment mediums, web3 will enter a new age of digital advertisements.

Consumers Navigating the Metaverse

Viewers and consumers make up the most important part of MILC’s new venture, since any metaverse is meaningless without a community. In MILC’s version, creators and consumers are rewarded for contribution and participation in the ecosystem using various revenue-sharing models.

Hey predicts that the financial potential of metaverse projects is in the trillions of dollars and set to benefit creators, consumers, and advertisers equally. He and MILC are simply there to provide the infrastructure.

About Hendrik Hey and MILC

Hendrik Hey is the founder of MILC (Media Industry Licensing Content), a blockchain-based content licensing company aimed at democratizing the content media buying and distribution industry. MILC is a sister company of European media giant Welt der Wunder, which Hey also founded more than 25 years ago. For more information about how MILC empowers content creators in web3, please visit https://www.milc.global