The metaverse boom is a reality. Next, we introduce you to the concept, what its characteristics are and how companies are starting to apply it.
What is the metaverse?
The term metaverse was first coined in 1992 in the science fiction novel Snow Crash by American Neal Stephenson. The writer predicted a successor to the Internet based on virtual reality, with digital avatars of people to explore the online world. Thirty years later, this hypothesis is increasingly present today.
The metaverse is a virtual environment where people can interact socially and economically as avatars in cyberspace. In the virtual universe there are no physical or economic limitations and users can walk, talk and visualize themselves within a three-dimensional environment. The extension of the virtual world to the real world is established due to the combination of many technologies, such as the Internet of Things (IoT), augmented reality, 3D images or artificial intelligence (AI). The metaverse is not the same as current virtual reality, which is usually used in the video game environment. The metaverse would be used for all kinds of activities, such as concerts, work or movies.
What are the characteristics of the metaverse?
The metaverse is a virtual world and its features can be very extensive. The singularities are:
- Persistence: The virtual universe is always available, it cannot be deleted. It exists regardless of time or place.
- Interactivity: Users can interact with each other and with the digital world, in real time, reacting to a virtual environment and to others as if they were in the physical world.
- Decentralized: No entity, person or entity has control of the metaverse. All participants have the same abilities and control over the universe.
- Economic system: Participants can provide goods or services in exchange for a value recognized by others. Digital currencies help keep virtual digital economies afloat.
- Barrier-free: There are no limits between reality and the digital world. The metaverse is infinite.
- Social experience: It allows creating social links between users. Also using artificial intelligence, events designed to be shared can be created.
What are the metaverse trends in companies?
In 2021, Facebook surprised with a change in its name to Meta, showing its interest in joining the metaverse trend. Many companies want to start implementing this technology. Even though we're in the early stages, the metaverse can offer as many opportunities as the physical world. It is possible that this is the next evolutionary leap for the Internet, so it must be taken into account.
More and more companies are trying to include a metaverse component, such as Microsoft, which has allocated part of its budget to buy a video game company, Activision Blizzard. Nike has also already introduced its own metaverse, Nikeland, so that fans of the brand can connect, compete and share experiences. It's a Roblox 3D immersive space.
Here are some possibilities that the metaverse presents to companies:
- Creation of jobs. There will be a demand for new employee profiles with skills more focused on software development or content creation.
- Improve the customer experience, we can digitize our products to make the customer “try” all the features.
- Economic system. As we have mentioned before, virtual currencies and micropayments occur in the metaverse world. An independent economic system is beginning to be generated.
- Incorporation to teleworking. With the metaverse, teleworking would be from home, but with the feeling that you are in the office. Meetings or tasks could be carried out in a virtual office where each employee would have their own avatar.
- Expansion to sectors. The first sector to reflect the metaverse is the audiovisual sector or that of video games. In the coming years, companies like Fortnite or Roblox are expected to develop metaverses for other types of sectors, such as Nike (Nikeland) or Spotify (Spotify Island).
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