The birth of virtual worlds where we can play video games, socialize, and work in a digital economy seems like science fiction. It actually is, since Neal Stephenson called it in his novel way back. However, this virtual reality is here and is slowly becoming a part of real life for many.
The metaverse, a social platform, and virtual space is the core of this. Created by Mark Zuckerberg, it uses virtual reality to give users a sense of presence that comes close to daily life.
But what does the future metaverse look like? Will it only go up from here? Let’s see.
The Office Merges With Virtual Reality
The COVID pandemic hit us hard. We couldn’t go to movie theatres, socialize, or work. However, many companies saw business opportunities during the worst time of the decade. Many businesses realized that a lot of their employees can carry out their duties at home with a good internet connection and a working laptop.
There needs to be the odd video chat here and there, but most of the time people were fine and preferred working from home. This is where the economic opportunity comes in. Even though many prefer to work from home, it can be quite isolating, so the metaverse fills that gap by putting you in a work environment that simulates the real one.
Coworkers, water coolers, and cubicles are all there just like in real life. Basically, if it can be done remotely, there’s no need to go to an office. People can work from the comfort of their own homes, and business operations continue as normal.
A win/win situation!
Exciting Times For Video Game Fans
The pandemic also led to a major surge in sales of game consoles, the PS5 specifically. With all that free time at home, video games look like a nice option. Virtual reality also took off at this point with VR gaming, taking players deeper into the digital space. With the use of artificial intelligence and various extended reality tech, gaming companies took their products to a new level.
Major gaming companies like Activision Blizzard are getting on board with this. Soon games like Call of Duty won’t just be on a screen but in virtual reality some day.
Events In Digital Lands
“Fortnite,” a live stream and cosplay-friendly game in which avatars gather in huge numbers on a fictional island, has adopted virtual reality.
Ariana Grande kicked off her “Rift” tour this August with a digital concert on the popular game, wearing a gown composed of broken glass fragments and carrying a massive crystal hammer.
She allegedly split the profits from the event’s in-game sales with Epic Games, the event’s designer, and collected a crisp $20 million. Since its debut back in 2017, the game has brought in billions of dollars worth of revenue.
A Tool For Tourism
According to the Seoul Metropolitan Government, Seoul was the first large city to announce ambitions to go full meta, saying it will develop a fully realized virtual “environment for all aspects of its municipal government, such as economic, cultural, tourism, educational, and civic service.”
The agency stated that its most popular tourist destinations would be reproduced in virtual space on a platform that it intends to debut in 2023.
While the metaverse industry is rapidly expanding, fuelled by the pandemic that has kept people at home, it remains to be seen whether one corporation, like Google, will finally emerge as the dominant power, as it does among search engines.
The Future Platform of Fashion
Luxury businesses are scrambling to match the demand for jazzing up avatars by designing virtual outfits you’ll never wear and shoes you can’t put on your real-life feet. And no demographic is overlooked.
Ralph Lauren is selling beanies and down jackets on Roblox, the cartoon-like game with 150 million players and a $38 billion valuation.
Gucci, Balenciaga, and Dior have all launched lines targeting Gen Z gamers that include high-end designer clothes, purses, and accessories. On December 13, Nike purchased RTFKT, a digital sneaker startup that had sold 600 pairs of shoes for $3 million without having to produce a single pair. Soon we’ll be seeing virtual fashion shows with avatars walking down the runway showing off the latest collections.
Meta’s Just Getting Started
It’s safe to say that these are just an appetizer of what’s to come in the next 10 years. The metaverse provides many advantages not just to casual users, but to working professionals too. It looks like there’s a lot of potential here and things can only go up from here!
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