science fiction concept, the metaverse, metaverse or even meta-universe is based on augmented reality, artificial intelligence and virtual reality. Some companies like Facebook, today Meta with the desire to create a metaverse, see it as the internet of the future.
The Metaverse, what is it?
There is strictly no definition of the metaverse. It is a form internet innovation, with a focus on VR (Virtual Reality), AI (Artificial Intelligence) and AR (Augmented Reality). Some characteristics are known, such as the creation of a collective 3D universe where one could walk around with an avatar and spend virtual currency, like some existing video games. However, the metaverse goes further than that: the experience is meant to be immersive for the individual. It is planned to create a common economy, already launched by the NFTs Today. The metaverse should 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 at 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 materializes digitally.
According to Mark Zuckerberg, the metaverse could be the future “grail of social interactions”. It will be possible to carry out an unmanageable number of activities from home. Whether it’s going to the movies or just having a drink with friends, the metaverse would provide an unimaginable field of possibilities.
Some start-ups have challenged themselves to concentrate their activity on the metaverse. In fact, regardless of the technology, more and more companies are developing solutions in AI, VR or AR. Regardless of the field, the goal is to create an immersive experience that gives the impression of being truly present in the virtual universe. This is a great opportunity for entrepreneurs because it is the appearance of a new market. It is possible to make any experience immersive thanks to the various technologies available. Many events, such as American rapper Young Thug’s virtual concert or the Metaverse Summit show, have already taken place, marking the advent of virtual reality, augmented reality and artificial intelligence.
Why is it interesting for companies?
Companies are flocking to the metaverse market, and for good reason. In fact, the meta-universe offers countless possibilities. According to Studyrama, 33% of the companies surveyed invest between 10 and 20% of their budget in the metaverse and 26% of brands are looking for one return on investment (ROI).
Since the health crisis, online shopping has done it developed exponentially, which is why brands like Gucci have decided to set up shop in the Metaverse. The startup Take it izi pushes the concept even further by offering to create virtual showrooms. This could represent a whole new revenue stream for businesses. Fittings in augmented reality may also be possible, to try a product at home to receive it afterwards.
Google, Ubisoft, Microsoft or even Apple have invested colossal sums in the metaverse because according to these marks represent the metaverse web 3.0.
As in real life, it will be possible to display your belongings in this parallel universe. This is why several companies now offer an avatar creation service, such as Kinetix. This will have the effect of showing his personality, but also his social status, as in real life. It is a new market that will allow companies to sell their products because there will be high demand, especially in 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 drink to give consumers an immersive experience, such as from AR Wine Labels, offers 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 dollars in 2030 (Source: cointribune.com). The activities are almost endless. In fact, it will be possible to organize meetings or conferences directly on a metaverse platform. For your professional speeches, you will even be able to get assistance with oral communication. This is what the startup VocaCoach offer, with coaching services adapted to everyone thanks to artificial intelligence.
In the field of education, innovations are already underway. It will soon be possible to offer your employees innovative training in the metaverse. Skillco offers virtual reality e-learning videos to offer an immersive experience to businesses. Companies are also interested in telecommuting, which will allow an employee to be present at work while staying at home.
Organize your business events in the metaverse like trade shows or conferences. Rlty, for example, is an event-driven startup that aims to expand into the metaverse. You can deliver your address book like in real life and even create an even more stunning booth for much less.
However, the metaverse could also have potential as a sports coach. That’s what you want agony, a start-up that promotes personal sports coaching via virtual reality. This could be an ideal opportunity for a team building session with your team.
It’s a real race against time to be the first in this market in terms of metaverse. It’s true that first-come, first-served is often first-come, first-served, but those who are more innovative will stand out. The projects in which companies invest the most are those 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 acquire 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 in place. This new market attracts companies that can sell innovative products while achieving their core goals.