Imagine living in a virtual world, where you can access numerous people and do hundreds of functions seamlessly. Mostly seen in 3D movies and modern games, the virtual world is not just a point of imagination. It is now a reality, transcending to a different level.
Metaverse is the virtual new world like science fiction, which is facilitated with the application of Augmented Reality and Virtual Reality headsets. Basically, it is a network of 3D virtual worlds focused on social connection. The virtual world of the metaverse has many people in various 3D avatars coming on the same level for the purpose of gaming, socializing, and working together.
The amalgamation of virtual reality, augmented reality, and spatial technology forms the life of the metaverse. The other technologies of Blockchain, Machine Learning and Artificial Intelligence function as brains of the metaverse, empowering the virtual ecosystem by automated transactions, decision-making and world-creation.
Augmenting the Algorithms
Metaverse is changing the rules of modern business much faster than imagined. The modern applications and project-oriented metaverse impact and transform the fundamentals of sales, marketing, technological innovation, and business operations.
The glorious future of human connections—the next version of the Internet and digital platforms—is causing ripples across the world. For modern business entrepreneurs, it becomes very relevant and critical to understand the metaverse and its practical, feasible, and doable applications that might propel growth and take a business to the next level.
Some of the biggest tech companies are now investing billions of dollars in creating the next version of the Internet by combining the powers of AR/VR headsets, smartphones, personal computers, and cloud-connected servers to provide an immersive experience to the end-users, and enabling to meet, interact and carry business in a virtual environment, of the metaverse.
Magnified Social Media Experience
Social Media will transform into a separate individual entity once the metaverse becomes mainstream. The current social media platforms like Facebook, Instagram, and WhatsApp are static 2D platforms, wherein the users access a flat screen with its content displayed. Users interact in limited aspects of liking, commenting, or sharing only.
Social media will become immersive with AR and VR-powered metaverse like the real world. The flat screen will replace a virtual world where people will meet in their avatars to connect, interact, communicate, and engage in the new dynamic 3D world.
Business Communication and Enhanced Productivity
Metaverse will revolutionize the business communication and productivity space with incredible innovations and breakthroughs. The most popular business communication channels currently provide a 2D communication mode via videos and audio.
This will be changed permanently with metaverse, enabling hologram-based real-time communication, very similar to a business meeting in our real life. Imagine a hologram representing a person interacting with us, interacting and communicating like a natural person.
Real estate companies can enable a realistic virtual tour of their commercial and residential projects. The prospects can walk into the properties, touch and feel the objects, and even experience the space and the dimensions like an actual visit.
The metaverse has tremendous involvement in sectors including manufacturing, wholesale, real estate, corporate meetings, and many more. The work-from-home format will change regarding communication and productivity, as meetings and seminars will become realistic, real-time, and much like an in-person conversation.
Immersive Sales and Marketing
With enhanced social media and advanced business communication, the entire sales and marketing domain will see an interesting transformation that will accelerate business growth everywhere.
Virtual hoardings and billboards on highways and expressways are exposed to millions of users or avatars in real-time. Businesses invest money to acquire rights to those advertisement spaces. This isn’t fiction, as investors buy metaverse real estate and strengthen their virtual assets for monetization.
The creation, distribution, and consumption of marketing content will be changed with metaverse. The brands will be in a better position to market their products, in a customized, tailor-made manner, with amazing results. Targeting and positioning products and services will be accurate, offering every metaverse user the experience of marketing campaigns based on their specific preferences and choices.
Brands can install their metaverse-stores and invite users from all across the world to visit them virtually and experience the products and services in real-time, with the option of effectively using feeling them via ultra-advanced augmented reality.
Revolutionized Online Education
With metaverse, students can now form their digital avatars, and attend classes like in the real world, learning and grasping the knowledge from the teachers with striking clarity and depth.
Metaverse will open up an immersive learning experience, empowered with graphics-intensive virtual platforms and digital platforms not just for interacting, collaborating, and engaging with their classmates in real-time, but also for practically learning the concepts and understanding the theories, maybe better than real-life on several levels.
Online education will be revolutionized with metaverse, enabling three-dimensional learning tools, visualized learning aids, and access to the best professors and teachers with a click.
Futuristic Blockchain Applications
Blockchain technology can complement and empower the metaverse as both use the same underlying technology for building the blocks.
Blockchain is the technology that creates Bitcoins, Ethereum, and other digital currencies and also creates NFTs or non-fungible tokens and blockchain gaming.
These technologies can be the formation blocks of the metaverse in developing a practical, scalable, and sustainable virtual economy, wherein the use of fiat money such as currencies will be replaced with digital currency.
A very advanced combination of barter systems and blockchain-based technologies can actually be the catalyst for expanding and empowering the metaverse and creating a parallel Universe that forever expands into new horizons.
- Kedar Borgaonakar