science fiction concept, the metaverse, metaverse or even meta-universe is based on augmented reality, artificial intelligence and virtual reality. Some companies like Facebook, now Meta with the desire to create a metaverse, see it as the internet of the future.
The metaverse, what is it?
There is no strict definition of the metaverse. It is a form internet innovation, focusing on VR (Virtual Reality), AI (Artificial Intelligence) and AR (Augmented Reality). Some features are known, such as creating a collective 3D universe where you could go around using an avatar and use virtual currency, like some existing video games. However, the metaverse goes further: the experience is meant to be immersive for the individual. The creation of a single economy is envisaged, already launched by the NFT Today. The metaverse should be able to host an unlimited number of users who will be able to roam around for it new digital universe.
Talking about metaverse is talking about a virtual world whose design aims at replicate real life thanks to the avatars that can interact with each other. We can also mention some virtual worlds connected to the Internet in augmented reality. Often seen in movies like Ready Player Onethe metaverse represents a parallel world in which everything materializes 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 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 focus their business on 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 it is the appearance of a new market. It is possible to make any experience immersive thanks to the various technologies available. Many events have already taken place, such as the virtual concert of the American rapper Young Thug or the show of the Metaverse Summit, which marks the advent of virtual reality, augmented reality and artificial intelligence.
Why is it interesting for companies?
Companies are pouring into the metaverse market and not for nothing. Indeed, the meta-universe offers countless possibilities. According to Studyrama, 33% of the companies surveyed invest between 10 and 20% of their metaverse budget and 26% of brands seek a return on investment (ROI).
After the health crisis, online shopping has evolved exponentially, that’s why brands like Gucci have decided to open a boutique in the Metaverse. The start Get it izi pushes the concept further by offering to create virtual showrooms. This could represent a whole new revenue stream for businesses. Fittings in augmented reality it may also be possible to try a product at home to receive it later.
Google, Ubisoft, Microsoft or even Apple have invested colossal sums in the metaverse, because according to these signs, the metaverse represents the web 3.0.
As in real life, it will be possible to show off one’s possessions in this parallel universe. This is why several companies now offer an avatar creation service, such as Cinetix. This will have the effect of showing her personality but also her social status, 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 in the beginning.
Food can also be revolutionized by the metaverse. Tips, recipes or even immersion in places of culture, it is possible to use food and drinks to give consumers an immersive experience, such as by AR Wine labels, offering augmented reality wine bottle labeling. This added value can significantly increase the value of a product and entice the consumer to buy it.
In the metaverse, anything is possible
According to a study by Grand View Research, the metaverse market is expected to catch up $ 678.8 billion by 2030 (Source: cointribune.com). The activities to do are almost endless. It will in fact be possible to organize meetings or conferences directly on a metaverse platform. For your professional speeches, you will also be able to get assistance with oral communication. This is what the start-up is all about Voca Coach offers, with coaching services suitable for everyone thanks to artificial intelligence.
In the field of training, innovations are already underway. It will soon be possible to offer their employees innovative training in the metaverse. Skillco offers e-learning videos in virtual reality, to offer an immersive experience to companies. Companies are also interested in teleworking, which would allow an employee to be present at work while staying at home.
Organize your corporate events in the metaverse such as trade shows or conferences. Rlty, for example, is an event-driven startup that aims to expand into the metaverse. You can provide your own address book like in real life and even create an even more stunning booth for much less.
However, the metaverse may also have potential as a sports coach. This is what you want Agone, a start-up that promotes sports personal coaching through 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 first in this market when it comes to the metaverse. It is true that the first come is often the first served, but those who are more innovative will stand out. The projects in which companies invest the most are i cryptocurrencyteleworking and NFT.
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 wide audience thanks to the various innovations implemented. This new market attracts companies that can sell innovative products by reaching their main target.