If 2022 has a buzzword, it has to be “metaverse.” From Mark Zuckerberg’s announcement that Facebook is now rebranded to Meta, to Disney’s MagicBand+, and Coca-Cola launching a non-fungible token (NFT) collection that fetched a mind-blowing $575,000 in an online auction, it’s clear that the future is the metaverse.
While the gaming and entertainment value of the metaverse is clear, there is not much information about its use in the healthcare industry.
“The metaverse is in its infancy, but is ripe for innovation and imagination,” explains Dr. Stephen Tang, co-founder of MdDAO. “We, as healthcare professionals, can create and imagine the future and how to improve upon and complement the current system.”
MdDAO is the world’s first medical metaverse where health professionals can come together. “Our group started this project to provide tools for the healthcare consumer to achieve health ownership, improved wellness, access to care, and hopefully, gain better insight into one’s health,” explains Dr. Tang.
Creating a Medical Metaverse
The origins of the word “metaverse,” which is defined as “beyond the universe,” can be traced back to author Neal Stephenson, who first used the term in his 1992 sci-fi novel “Snow Crash.” Stephenson defined the metaverse as an all-encompassing digital world parallel to the real world.
In 2022, the metaverse has become a simulated digital environment that uses augmented reality (AR), virtual reality (VR), blockchain, and social media concepts to create spaces for enhanced user interaction replicating the real world. With a predicted market size of $800 billion by 2024, it’s expected that the metaverse will become the next major revolution in technology, with over 74 percent of adults in the United States having joined or considering joining this virtual space.
Because the metaverse is the convergence of three technological trends — AR, VR, and artificial intelligence (AI) — it holds the potential to create new avenues for delivering treatment, lowering costs, and improving the overall quality of healthcare for the patient.
The metaverse has proved to be a technology that can transform the healthcare industry. From improving surgical precision and social distancing to uses for therapy and treatment, the potential of the metaverse is enormous.
Reimagining the Future of Healthcare
In 2021, MdDAO was born from the collaborative initiative of individuals who combined a diverse and complementary set of expertise in healthcare, marketing, and technology. Co-founder Arabian Prince, former rapper and N.W.A. co-founder, leads the organization along with Helene Blanchette, former vice-president of global marketing at Xerox. Joining them are Dr. Dung Trinh, and Dr. Stephen Tang, MdDAO’s lead doctor and general physician, respectively.
The goal of MdDAO in the metaverse is using the DAO to create a healthcare system that people want. Through the collective efforts and vision of their community, MdDAO will design and construct the premier metaverse in health and wellness, improving access to care, opening doors for innovation, and leveling the playing field.
“I believe physicians and care providers will see a lot of value in the metaverse with a more immersive experience and the potential to become a platform where innovation, health ownership, and patient engagement will thrive,” says Dr. Tang.
MdDAO presents an unparalleled opportunity to reimagine the future of health and wellness. Through their innovative membership NFTs, MdDAO will offer the first decentralized autonomous organization to integrate health, wellness, and the metaverse.
MdDAO users will purchase NFTs so doctors can have an extensive selection of potential outfits and accessories in the metaverse. There is also the potential to create a coin in the metaverse. The goal is to give everyone a voice in this metaverse, creating an egalitarian healthcare system that will satisfy the needs of all patients.
Improving the Patient Experience and Outcomes
As healthcare practitioners implement this new technology, they expect it to transform healthcare services. Some areas that can take advantage of metaverse technology are digital therapeutics, physical therapy, augmented reality in surgical procedures, radiology, and medical wearables.
As the metaverse gains momentum, AI, AR and VR, quantum computing, and robotics are expected to change healthcare delivery and enhance patient outcomes. Because healthcare professionals will deliver better care in a virtual world, they believe that disease prevention will improve. Preventive care can drastically increase a patient’s lifespan because it allows for early detection and more accessible treatment with better outcomes.
Dr. Dung Trinh, co-founder of MdDAO and a leading expert on brain health, believes that prevention offers the best return. “People now have access to resources and information that can have a positive, long-term impact on their lives.”
“Our project is not simply the metaverse, but encompasses a broader approach to medicine and how we view health and wellness,” adds Dr. Tang. “We will create a platform to promote health ownership, engagement, and community involvement, emphasizing health and wellness.”
Reimagining the Future of Healthcare and Wellness, Together
The first four words you read on the MdDAO website are, “It’s time to disrupt!”
MdDAO is a game-changer in the healthcare industry. The vision is to create a platform where healthcare consumers and medical professionals can interact and collectively reimagine the future of healthcare in the metaverse. By taking advantage of a DAO, they will harness the collective knowledge and innovative thinking of medical experts, healthcare professionals, patients, and individual users.
MdDAO will address the shortcomings inherent in our current healthcare system, and design and construct a more personalized approach to health and wellness. Membership NFT tiers were the critical first step on a path to redefining how health and wellness are delivered and experienced.
“We need to find innovative ways to incentivize patients and promote wellness and community involvement to affect health positively,” explains Dr. Tang. “I believe healthcare and governments will move towards a reimbursement model to reward these initiatives. It is time for the medical community to stand up in partnership with the healthcare consumer and take an active role in reimagining how we deliver and experience health and wellness. Is there a better way? Is the metaverse the solution? Then let’s build it.”
Learn more about MdDAO.