science fiction concept, the metaverse, metaverse or even metauniverse is based on augmented reality, artificial intelligence and virtual reality. Some companies like Facebook, today Meta with the desire to create a metaverse, see how the internet of the future.
The metaverse, what is it?
There is no definition, strictly speaking, of the metaverse. It’s a form innovation on the internet, focusing on VR (Virtual Reality), AI (Artificial Intelligence) and AR (Augmented Reality). Some features are known, such as the creation of a collective 3D universe where one could walk around wearing an avatar and use virtual currency, like some existing video games. However, the metaverse goes further: the experience is intended to be immersive for the individual. The creation of a single economy is envisaged, already released by the NFT’s today. The metaverse must be able to accommodate an unlimited number of users who will be able to roam this new digital universe.
To speak of the metaverse is to speak of a virtual world whose design aims to replicate real life thanks to avatars that can interact with each other. We can also mention certain virtual worlds connected to the internet in augmented reality. Often seen in movies like Ready Player Onethe metaverse represents a parallel world where everything is materialized digitally.
The metaverse could, according to Mark Zuckerberg, become the future “grail of social interactions”. It will be possible to carry out an incalculable number of activities from home. Whether going to the movies or just having a drink with friends, the metaverse would provide a field of unimaginable possibilities.
Some start-ups have challenged themselves to focus their activity in the metaverse. In fact, whatever the technology, more and more companies are developing solutions in AI, VR or AR. Whatever the field, the goal is to create an immersive experience to give the impression of being truly present in the virtual universe. This is a great opportunity for entrepreneurs, because is the emergence of a new market. It is possible to make any experience immersive thanks to the various technologies available. Many events, such as the virtual show of the American rapper Young Thug or the Metaverse Summit show, have already taken place, which marks the advent of virtual reality, augmented reality and artificial intelligence.
Why is it interesting for companies?
Companies are migrating to the metaverse market and it’s no wonder. In fact, the metauniverse offers countless possibilities. According to Studyrama, 33% of the companies surveyed invest between 10-20% of your budget in the metaverse and 26% of brands are looking for a return on investment (ROI).
Since the health crisis, online shopping exponentially evolved, which is why brands like Gucci decided to set up a boutique in Metaverse. the start take it takes the concept even further by offering the creation of virtual showrooms. This can represent a whole new revenue stream for companies. Accessories in augmented reality It may also be possible, to try a product at home to receive it later.
Google, Ubisoft, Microsoft or even Apple invested colossal sums in the metaverse, because according to these marks, the metaverse represents the web 3.0.
As in real life, it will be possible to display your possessions in this parallel universe. That’s why several companies already offer an avatar creation service, such as Kinetix. This will have the effect of showing your personality but also your social status, just like in real life. It is a new market that will allow companies to sell their products because there will be a lot of demand, especially at the beginning.
Food can also be revolutionized by the metaverse. Recommendations, recipes or even immersion in the place of culture, it is possible to use food and drinks to provide the consumer with an immersive experience, such as of wine labels AR, offering augmented reality wine bottle labeling. This added value can greatly increase the value of a product and make the consumer want to buy it.
In the metaverse, anything is possible
According to a study by Grand View Research, the metaverse market is expected to reach $678.8 billion by 2030 (Source: cointribune.com). The activities to do are almost endless. In fact, it will be possible to organize meetings or conferences directly on a metaverse platform. For your professional speeches, you can even get assistance with oral communication. That’s what the startup VocaCoach offers, with coaching services adapted to everyone thanks to artificial intelligence.
In the field of training, innovations are already underway. Soon it will be possible to offer your employees innovative training in the metaverse. skillco offers e-learning videos in virtual reality to provide an immersive experience for companies. Companies are also interested in telecommuting, which would allow an employee to be present at work while staying at home.
Organize your business events in the metaverse, such as fairs or conferences. Rlty, for example, is an event-driven startup aiming to expand into the metaverse. You can provide your address book just like in real life and even create an even more stunning stand for much less.
However, the metaverse may also have potential as a sports coach. this is what you want ago, a start-up that promotes personal sports training through virtual reality. This can be an ideal opportunity for a teambuilding session with your team.
It’s a real race against time to be first in this market with regards to the metaverse. It’s true that first-come is often first-served, but the more innovative ones stand out. The projects in which companies invest the most are the cryptocurrencytelecommuting and NFTs.
New communication channel, companies will be able to engage consumers by offering exclusive content to the metaverse, which will have the effect of making products unique or even luxurious to make consumers want to buy them.
An opportunity in a new market
Many people are already interested in the metaverse. This is an opportunity for start-ups to reach a large audience thanks to the various innovations implemented. This new market attracts companies that can sell innovative products while achieving their primary objective.