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 no definition, strictly speaking, of the metavers. It’s a form internet innovation, focused on VR (Virtual Reality), AI (Artificial Intelligence) and AR (Augmented Reality). Some features are known, such as creating a collective 3D universe where one could walk around with an avatar and use virtual currency, such as some existing video games. However, the metaverse goes beyond that: the experience is meant to be immersive to the individual. The creation of a single economy is considered, already launched by the NFTs Today. The metaverse should be able to accommodate an unlimited number of users who can roam around here new digital universe.
To speak of the metaverse is to speak of a virtual world whose design aims to: imitate real life thanks to avatars that can communicate with each other. We can also mention certain virtual worlds that are connected to the Internet in augmented reality. Often seen in movies such as Ready Player Onethe metaverse represents a parallel world where everything is digitally materialized.
The metaverse could be the future, according to Mark Zuckerberg “grail of social interactions”. It will be possible to perform a countless number of activities from home. Whether it’s going to the movies or just having a drink with friends, the metaverse would offer an unimaginable field of possibilities.
Some start-ups have challenged themselves to focus their activities on the metaverse. Indeed, whatever the technology, more and more companies are developing solutions in AI, VR or AR. Whatever the pitch, 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 emergence of a new market. It is possible to make any experience immersive thanks to the various technologies available. Many events, such as the virtual concert of American rapper Young Thug 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. After all, the meta-universe offers countless possibilities. According to Studyrama, 33% of the companies surveyed invest between 10 to 20% of their budget in the metaverse and 26% of brands are looking for a return on investment (ROI).
Since the health crisis, online shopping has been evolved exponentially, which is why brands like Gucci have decided to set up a boutique in the Metaverse. the startup take it pushes the concept even further by offering virtual showrooms. This could mean a whole new revenue stream for businesses. Equipment 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 amounts in the metavers, because according to these signs, the metavers represents the web 3.0.
Just like in real life, it will be possible to display your possessions in this parallel universe. This is why several companies now offer 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 where companies can sell their products because there will be a lot of demand, especially in the beginning.
Food can also revolutionize the metaverse. Recommendations, recipes or even immersion in the place of culture, it is possible to use food and drinks to give consumers an immersive experience, such as of AR wine labels, offering augmented reality wine bottle labeling. This added value can greatly increase the value of a product and make consumers 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 by 2030 (Source: cointribune.com). The activities to do are almost endless. Indeed, it will be possible to organize meetings or conferences directly on a metaverse platform. For your professional speeches, you can even get help with oral communication. This is what the start up VocaCoach offers, with coaching services adapted to everyone thanks to artificial intelligence.
In the field of training, innovations are already underway. It will soon be possible to offer your employees innovative training in the metaverse. Skillco provides e-learning videos in virtual reality to provide businesses with an immersive experience. Companies are also interested in teleworking, which means that an employee can be present at work at home.
Organize your business events in the metaverse such as trade shows or conferences. Rlty, for example, is an event-driven startup looking to expand into the metaverse. You can deliver your address book just like the real thing and create an even more breathtaking booth for a lot less.
However, the metaverse can also have potential as a sports coach. That’s what you want agon, a start-up that promotes personal sports coaching through virtual reality. This can 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 regarding the metaverse. It is true that first come, first served, but the ones that are more innovative will stand out. The projects in which companies invest the most are the cryptocurrencytelecommuting and NFTs.
New communication channel, companies will be able to engage consumers by providing exclusive content to the metaverse, which will result in products being made unique or even luxurious so that consumers want to buy 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 that have been implemented. This new market attracts companies that can sell innovative products while achieving their core objective.