What is the metaverse and what is its significance for business

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What is the metaverse and what is its significance for business?

Mixed Reality Dec 7, 2022

Imagine that somewhere on the Internet there is one metaspace, a whole world that combines people, bloggers, shops, cinemas, libraries, museums, work sites. One currency operates inside this world, and if you make a purchase at one of these points, it will be available at another.

It seems that these are all myths on the verge of fantasy. But the future is closer than we think. On October 28, 2021, Mark Zuckerberg held an online conference where he said that he was starting work on creating the Metaverse.

What is the metaverse?

You can call it virtual reality in 3D or the Internet of the future, or the 3D Internet. There are many definitions and they are not very clear yet.

Characteristics of the Metaverse

  1. It should be available all the time, without pauses and reboots.
  2. Exist synchronously for everyone and change in real time.
  3. Grant access to an unlimited number of users.
  4. Have an internal economy: in the online world, people are able not only to spend, but also to earn money.
  5. To unite the real and virtual world, to become an addition to reality.
  6. Combine data from any internal applications. If you bought a track in one online store, you can listen to it while in another virtual space, for example, in a game.
  7. To enable all people, authors, creators to create content in any possible form within a single virtual world.

The metaverse is most often thought of as a voluminous virtual space that complements reality. But it is highly likely that its two-dimensional formats will also exist, as many applications now have mobile and desktop versions.

What does the Metaverse give people?

First of all, a new experience. The opportunity to see places that are thousands of kilometers away, work in a company in the very center of the capital, and live on the seashore, learn and hone your skills while in virtual reality. At the same time, in the metaverse, the user feels the effect of presence, which was inaccessible in the world of the 2D Internet.

If you create a metaverse, there will be new jobs and new opportunities for creativity and creativity. Developers will receive codes on the basis of which they will be able to develop their applications, services, systems inside the 3D world and earn money on them.

And, of course, games and entertainment. Already, AR and VR games are gaining wild popularity. With the development of the metaverse, the possibilities for entertainment will become endless. And people will want to return to this wonderful world again and again.

Cool metaverse features you'll love:

  • distance independence. You can work, study, chat with friends, walk in different places just by wearing VR glasses.
  • Freedom of movement. This is especially valuable for people with limited mobility. They will be able to attend concerts, museums, clubs, exhibitions without restrictions. And physical training and fitness will become more multifaceted.
  • Ease of learning . The learning process will become easier and clearer. Pupils and students will be able to immerse themselves more deeply in the material. And learning will turn into a 3D game.
  • Job prospects. It will be possible to get a job not only in the real world, but also in the virtual one. And it will become possible for every resident of a small town to get a job in any company in the world
  • Independence from appearance. Whatever you look like in our world, your avatar in the metaverse can be anything. It is limited only by the imagination and software developers. True, it is important to remember that if at a concert looking like a rainbow unicorn is not shameful and even cool, then at a corporate meeting the boss may not approve of it.

What does the metaverse give to business?

In order to create a metaverse, businesses need to prepare. Already at the preparation stage, this direction will give entrepreneurs development prospects and new sources of profit. The main thing is not to miss the moment. Some business areas are already booming in the digital universes.

The most common business model in the metaverse is galleries. Artists and collectors create exhibitions of NFT works where you can buy what you like.

In the mataverse, you can create digital items and sell them on marketplaces: furniture, clothes, and shoes are very popular. Digital items in the metaverse are often more expensive than in the real world.

The real estate market is also developing. Studios are engaged in the development of projects, construction and even home improvement. Earth in the metaverse can be sold and rented for real money.

Some artists are already holding online concerts in the virtual world. And in the metaverse of Somnium Space, there are dance parties every week.

Content Creation

The Metaverse is not the white space of The Matrix. Nobody needs an empty universe. It should be filled with characters, 3D graphics and animations. All these elements must be drawn and thought out for trifles. Then users will be able to believe in its reality.

This requires 3D artists, designers, animators who can visualize the metaverse. Brands will be interested in creating their spaces in this world, and ordinary people with programming and 3D modeling skills will be able to create objects and other content.

Advertising and customer interaction

The Metaverse is both an advertising platform and a large online store. It gives businesses a unique opportunity to communicate with customers in the virtual world, as it is now happening in social networks, but with a more immersive effect. By creating games, apps or other content in their own 3D world, companies can better engage and make customers fall in love with their brand.

Here are just some of the opportunities that open up for business with the creation of the metaverse. It will take more than 7 days to create a metaverse. It will take the participation of many people, the development of many technologies and content, so that the world that many dream of actually appears. Mankind is only taking the first steps towards its creation. But 20 years ago, even a mobile phone seemed unimaginable to us, 10 years ago, a touch screen was a product of magic. Who knows, perhaps in 30 years we will live in the metauniverse and not think of our lives differently


Anurag Deep

Logical by Mind, Creative by Heart