The new Metaverse universe. We are quickly heading towards it: Virtual realities in which we will live digital lives coexisting with our real lives. It is an innovative concept, full of business possibilities for many companies, coming to life little by little. This article explains what the Metaverse is, its keys, and its applications.
The Metaverse is a concept that is beginning to be built. The company Meta, formerly Facebook, has presented the idea and announced significant investments to make it a reality. However, we will still have to see if other companies will join the effort, creating the technologies that make it possible. There are no virtual reality devices, yet they make us move as if we were inside this universe. Infrastructure is also lacking in terms of design. It doesn’t have any regions, streets, or anything yet, just some virtual rooms used for early testing.
What is the Metaverse Exactly?
The Metaverse emerges as a digital reality that can only be accessed through special devices, such as virtual or augmented reality glasses. This digital space would allow us to interact with other users through an avatar – a unique character for this virtual world – similar to the animated avatars already used in online games. We could interact in different immersive worlds through our avatar, interact with our friends, work with office colleagues. Enjoy with our partners, travel, or even get a job in the digital space.
Metaverse is credited to author Neal Stephenson, who coined it in his 1992 science fiction novel Snow Crash. In it, the author imagined highly realistic-looking digital avatars inhabiting virtual reality environments.
The Metaverse incorporates augmented reality, virtual reality, 3D holographic avatars, video, and other media.
The Metaverse is a New Business Channel
Moreover, This will add value to the products and services of companies that use the Metaverse, constituting a new business channel. There will be a virtually endless list of products and services to sold in various markets, both vertical and horizontal. Instead of the current model in two dimensions (click and buy), the electronic commerce of the Metaverse will be able to create, among other things, a new source of income from digital products purchased synchronously.
For example, in human resources (HR), training can be done in virtual reality or augmented reality, superimposing information on a natural environment: Step-by-step instructions to assemble a complex machine, operate a new device or test a new product.
In sales and marketing, it will be common to connect with the client in the Metaverse to exchange experiences about the product or service virtually. Crypto products, such as NFTs, will be native Metaverse items. Companies will benefit from all options depending on their capabilities and needs. The main objective is to achieve the “metaverse as a service” and the corresponding certification and labeling for products and services.
Woman in Metaverse with VR Goggles
The Pillars of the Metaverse
The Metaverse brings people, processes, data, and things (real and virtual) together to make networking more valuable. It brings insights to action to create unprecedented new capabilities, richer experiences, and economic opportunities for businesses. It will be a universe in which billions of objects will have sensors to detect, measure and evaluate their state, all interconnected through public or private networks. We could say that the Metaverse has four primary areas of development:
THE PEOPLE: Trying to connect the most significant number of users in a more valuable way
THE DATA: Turning data into intelligence to make better decisions
THE PROCESSES: Sending the correct information to the right person or machine at the right time
THE THINGS: Connect devices and objects – physical and virtual – to the Internet and to each other to make intelligent decisions.
What is the Metaverse Today?
If the Project is successful. It may become the gateway to most digital experiences and the natural successor to what is now the Internet.
CONCERTS: The Metaverse offers the possibility of virtually entering a 3D show. For example, in 2019, rapper Travis Scott held a concert in Fortnite that brought together nearly 100,000 users.
WORK: Meta (Facebook) is powering the Infinite Office. A space that allows users to create their ideal workplace through virtual reality.
VIDEOGAMES: There is a chance that a user will get a reward in a video game and then be able to show it to their virtual friends.
In conclusion, we have seen that the Metaverse has applications today and extraordinary potential for people and processes and things and data. Many expect that the Metaverse will not only be the next evolution of the Internet but also very important for the development of companies. Businesses, and society for at least the next 20 years.