Authors: Tuhu Nugraha and Adrian Zakhary*
Prologue: Midnight Dream in Jakarta
Imagine walking through Jakarta at midnight, the neon and vibrant city that never sleeps. Suddenly a vision emerges for Indonesia to become a center of innovation and development for creative industries in the Metaverse era. In this world, a young Indonesian designer creates his virtual fashion for avatars from all over the world, and local game studios release world-famous titles.
How promising is this industry? According to a December 2022 study by Allied Market Research, the total value of the digital clothing market is expected to grow from $498.7 million in 2021 to $4.8 billion by 2031. Masu. The global Metaverse gaming market is valued at $51 billion in 2023 and is expected to grow at a CAGR Nearly half or 48% of this market is occupied by Metaverse gaming hardware.
Based on the book’s research on the Indonesian metaverse ecosystem, Indonesia is well-positioned to carve out a niche for creative content in the global metaverse supply chain. He has two reasons. Indonesia is currently in a demographic bonus phase with a young majority, and the country is rich in cultural diversity. Here are some strategies for realizing this vision.
Chapter 1: Turning Possibilities into Realities
education and training
First and foremost, we need to provide the young generation in Indonesia with proper education and training. The Ministry of Education and Culture should work with relevant industries to integrate digital and creative curricula into the national education system. This applies not only to coding, but also to graphic design, storytelling, and even digital ethics.
Without fast and affordable Internet access, this dream would remain just a dream. The government needs to invest in digital infrastructure and ensure that the entire archipelago from Sabang to Merauke is connected to high-speed internet.
Chapter 2: Building a profitable ecosystem
Financial support and regulation
Governments should provide financial incentives and financial support to start-ups and companies in the creative sector. Additionally, supportive regulations, such as strong intellectual property rights and clear data privacy policies, provide security for innovators as they create. Cooperation between the Ministry of Tourism and Creative Economy and the Ministry of Trade is essential in educating industry players on the importance of managing intellectual property rights both domestically and globally. Tax incentives should be offered to foreign fashion and gaming companies wishing to invest in Indonesia.
Collaboration and creative hub
Building creative hubs and business incubators focused on the creative industry fosters collaboration between artists, designers and developers. Imagine the “Silicon Valley” of Indonesia’s creative industry. Great ideas are born and developed there every day. Cities such as Batam, Bali and Bandung have the potential to become creative production hubs for this industry. These cities already have a supportive ecosystem of design and fashion schools and colleges, a creative young workforce and a growing creative industry.
Key stakeholders in the creative community already exist, such as Indonesia Creative City Network (ICCN), nakama.id, Maja Labs, Bali Blockchain Center (BBC), and need to be optimized to achieve these goals. there is. Indonesia’s other supporting infrastructure includes Drezzo, a digital fashion marketplace, and Bali, which hosts a variety of Web3 creative industry activities, including Coinfest and NFT Bali, global annual events. .
Chapter 3: Embracing the future with innovation
Technology as the main driver
Technology is key in the age of the Metaverse. Governments need to invest in research and development and encourage innovation through funding schemes and collaboration between universities and industry. Blockchain technology, virtual reality and artificial intelligence are some of the areas of focus.
Role of the private sector
The domestic and international private sector plays a strategic role in the development of Indonesia’s creative industries. Through financial investment, we can facilitate the growth of start-ups and creative projects. In addition, through mentorship, we can help develop the skills and competencies of industry players. Moreover, as a consumer, you can also tap into a wider market for Indonesian creative products and services.
The private sector contributes in many ways, making it a key pillar of sustainability and innovation in Indonesia’s creative industries. Their involvement will not only strengthen the entire creative industry ecosystem, but also help Indonesia achieve its vision of becoming a global center of innovation and creativity.
Chapter 4 Building a Global Network
Market expansion and branding
To truly become a world leader, Indonesia needs to look beyond its domestic market. Prioritize the export of creative products, from digital fashion to games. This requires an effective global marketing strategy and an extensive sales network.
Bringing these products to the global market requires close cooperation among all stakeholders in the creative industry. In addition to the above, government and tourism industry players should incorporate Web3 events into Indonesia’s national tourism agenda and market them globally in an integrated manner. Indonesia could learn from how the Belgian government made Tomorrowland a global destination, or from the Coachella music festival.
Events such as NFT Bali, Coinfest and other initiatives led by Indonesia’s creative community should be promoted more globally to strengthen Indonesia’s position as a creative hub in global supply chains.
Economic diplomacy and international relations play an important role in presenting and enhancing Indonesia’s creative industries on the world stage. Through various means such as cultural exchange, knowledge sharing and multilateral forums, Indonesia is able to develop beneficial relationships with other countries. This not only opens opportunities for investment and collaboration, but also serves as a platform to promote Indonesian talent and creative work.
A structured diplomatic approach with a focus on sustainability allows Indonesia to leverage its creative industries as one of the pillars of “national branding,” i.e. the creation of a positive national image. This will not only expand the market reach and open up new opportunities, but also enhance Indonesia’s reputation and image as an innovative and creative country in the eyes of the world.
Governments can establish bilateral cooperation on capital investment, skills transfer and human resource development with countries that have the potential to strengthen domestic creative industries, such as China, Japan, South Korea, the United States and India. Governments can also promote this in multilateral fora such as ASEAN, RCEP, G20 and BRICS.
Chapter 5: Ensuring Sustainability and Ethics
A holistic approach that includes environmental, social and economic aspects is key to ensuring the sustainability of Indonesia’s creative industries. This requires cross-sectoral collaboration involving governments, industry, academia and communities in developing and implementing policies that support sustainability. By focusing on sustainability, Indonesia’s creative industries will not only grow and develop, but also contribute to the Sustainable Development Goals and create lasting positive impacts on society and the environment.
key stakeholders: Ministry of the Environment, Ministry of Finance, creative industry associations, and financial institutions that will invest in this project.
Ethics and inclusion
To ensure that Indonesia’s creative industry grows in an inclusive and ethical manner, we need to focus on copyright management, social justice, transparency and accountability.This includes the Ministry of Regulation, Education, Education, Culture, Research and Technology, Ministry of Communications and Information, Ministry of Social Affairs, Industry, Academia, Maja Labs, BlockDevID, Meta Development
With a holistic and ethical approach, Indonesia’s creative industry not only promotes justice and equality, but also builds the industry’s reputation and sustainability. This will help position Indonesia as a responsible and innovative leader in the domestic and international creative industries.
Epilogue: Become the Rising Sun of the Metaverse
Returning to Jakarta’s Midnight Dream, we see a clear roadmap for a brighter future. Collaboration, innovation and clear vision enable Indonesia not only to participate in the creative industrial revolution in the Metaverse era, but also to lead it.
This dream is certainly ambitious, but with the right steps it can become a reality. Welcome to the new era of Indonesia. A nation that not only follows the sunrise, but becomes the sunrise itself, bringing light and innovation to the whole world. Top of form
Adrian Zachary Founder of Maja Labs and President of Web3 ICCN