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The idea of a metaverse has been receiving more and more attention lately. With Facebook rebranding its parent company as Meta, this idea is likely to last. To begin understanding the metaverse, let’s look at what it is, familiar examples we can grasp, as well as its future potential for your business.

 

What Is the Metaverse?

The metaverse is the idea of a more connected version of the internet;  an internet that has the majority of the traffic happening in 3D virtual environments, with virtual avatars, virtual items, and even virtual land. Users will have the chance to interact with other users and brands as if they were physically right next to them. It is natural that the internet of today will not look like the internet of 20 years from now, as we can see how much it has changed over the last 20 years.

With advancements in VR/AR technology, along with the growing interest from major companies, the metaverse is being constructed as we speak. There will be attempts made by companies on constructing early versions of their own, isolated metaverse and much like VR in the 90s, it might arrive sooner than it is needed. However, there are arguments supporting why the metaverse can become a major portion of the internet.

 

Examples Similar To the Metaverse

A similar example which helps us to better understand the metaverse is the incredibly popular video game, Minecraft. In this game, players are able to craft, build, and trade virtual items with each other. The Enjin token takes this a step further by allowing players to integrate blockchain assets into their Minecraft servers, allowing real world value to be traded in a virtual space. The cryptocurrency project Decentraland has users paying for virtual land plots and visiting each other’s virtual apartments.

Another example of the metaverse in play is the VR video game VRChat. It works basically how it sounds; players meet in virtual lobbies and can interact with each other.

For movies, Ready Player One shows a fictionalized version of a metaverse.

 

The Metaverse and Your Business

With Meta’s commitment to the metaverse, expect to see more opportunities for users and brands to engage with this evolving space. What is important to get ahead here is realizing the hardware and software requirements needed. There are existing development tools that aid in the creation of apps relevant to the metaverse, such as Meta’s Presence Platform Interaction SDK.

Now is the opportunity to explore and research how your brand and online business can fit in the potential metaverse.

 

 

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