Metaverse Momentum: Latest Trends in Virtual Reality, Blockchain, and Corporate Adoption
It was difficult to go anywhere in 2022 without running upon the phrase “metaverse.” Nearly everyone was eager to share their idea for digital worlds where we may work, play, and socialize on one persistent platform after Facebook’s rebranding at the end of 2021.
There is no agreed-upon description or understanding of the metaverse, although some experts think of it as a 3D internet; the idea of the metaverse is concentrated on how people will interact with it.
It is intended to be a shared, decentralized, persistent, synchronous, and alive virtual environment that exists alongside the real world and is open to all users. It will contain hitherto unheard-of levels of data, digital goods, assets, and content compatibility.
While Microsoft and Nvidia are creating metaverse spaces for collaboration and working on digital projects, Meta concentrates on building virtual reality experiences.
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Decentralized autonomous organizations (DAOs), which are intended to bring a digital democracy to the digital realms we inhabit, and non-fungible tokens (NFTs) are being experimented with by those who think the Internet of the future will be decentralized and built on blockchain.
The recent trends happening in the metaverse:
As a new marketing avenue, the Metaverse
Marketing and advertising will be the engines that propel Web 3.0, the metaverse, into the mainstream, much like search engines and social media did for Web 1.0 and 2.0
The idea may not have fully developed yet. Still, companies from the biggest names in global finance, like HSBC and JP Morgan, to the biggest names in global fashion and lifestyle, like Nike and Gucci, have already staked their claims and started creating their metaverse presences. The appeal is clear; we are aware that consumers are constantly looking for new and interesting ways to interact with the companies they want to buy from.
Businesses will go all-out during the upcoming year to secure prominent virtual real estate, whether by creating their platforms or residence in already-existing spaces like Meta Horizons, Fortnite, VR Chat, or Decentraland. Nobody is yet confident of the winning tactic, but one thing is certain: you have to be involved to succeed.
The Corporate Metaverse
The metaverse promises to offer platforms, tools, and complete virtual worlds where business may be done remotely, effectively, and intelligently in addition to its potency as a marketing tool.
The idea of the “digital twin”—virtual representations of actual goods, services, or procedures that can be used to test and prototype novel concepts in the secure environment of the digital world—will likely converge with the metaverse concept in the future.
Conducting training, onboarding, and other duties in the business sphere will be another use of metaverse technology. For instance, the multinational consulting firm Accenture developed a metaverse setting called The Nth Floor that includes virtual versions of actual offices and allows current employees and potential hires to carry out a variety of HR-related tasks there.
As teams look into new strategies for working remotely while staying involved with coworkers and their creative process, metaverse interactive working environments like BMW’s augmented reality labs will also grow in popularity.
Web3 and Decentralisation
Distributed ledgers and blockchain technology, according to web3 proponents, will create a new internet free from centralized corporate control. These corporations will no longer be able to censor viewpoints they disagree with or shut someone down completely.
Another component of the decentralized metaverse is NFTs. Similar to non-unique tokens like cryptocurrencies like Bitcoin, these unique tokens exist on blockchains and can be used to represent certain online goods or commodities
Recently, Clarks announced an online competition using the Roblox platform where participants could win exclusive virtual products.
Virtual reality and Augmented reality
The metaverse is built around the concept of immersive, experiential technology; whatever it looks like, it will be more fascinating than the digital worlds we are accustomed to today.
Although not everyone feels that joining the metaverse will require us to attach displays to our heads, it is undoubtedly one of the strategies for creating immersive experiences that are sparking the most interest, and the year 2023 will see several exciting advancements in this area.
Beyond headsets, we may anticipate advancements in full-body haptic suits, which are already utilized by companies like NASA and SpaceX to simulate harsh settings. These suits will also be used to produce consumer metaverse experiences that are even more realistic and immersive.
Even now, several startups are experimenting with technology that can add odors to our virtual worlds.
The metaverse offers a wide range of possible opportunities and advantages, including those related to inclusiveness and accessibility as well as socialization, safety, health, and well-being. Imagine how COVID-19 altered remote learning while addressing education; now imagine what the virtual world is capable of.
It is possible to explore planets, perceive geometrical features, take part in historical events, and much more within these 3D simulations.
Since this technology might be used to teach workers about job preparation, particularly in high-risk industries, the US Army has disclosed that it is creating its own metaverse. The healthcare industry already uses the virtual reality system to educate patients, help surgeons plan upcoming procedures, and train trainees.