Technology and digital platforms have changed the way human beings live. The last two decades have signaled far-reaching changes that have influenced our lives in multiple ways. From the rise of social media platforms to the convenience of Ecommerce, digital technology has become one of the biggest influences shaping lives and societies.
In the last few months, topics and issues around the Metaverse are becoming common in tech circles. While gaming corporations like Epic Games were one of the early starters, others have soon joined in. This has not been limited to just gaming companies, but also IT, digital media, and carmakers.
In this article, we look at the Metaverse in greater detail. We discuss some of its key elements and attributes and try to understand how the future is going to look like in the Metaverse.
Metaverse: Meaning and Definition
According to experts, a Metaverse is a virtual shared ecosystem that is guided by four main kinds of technologies-
- Visual Reality (VR)
- Augmented Reality (AR)
- Artificial Intelligence (AI)
- Machine Learning (ML)
It seeks to create an immersive experience for individuals that care to join the Metaverse. Ione of the core elements that make a Metaverse unique and special is that it is always experienced ‘Live’!
For example, imagine you are playing a game of FIFA. However, imagine you feel that you are one of the players in the game and on the pitch. Or, being a part of a virtual concert where an artist is performing live. This has great applications for the post-pandemic world.
Metaverse experience can offer even much more. For example, Spectrue will offer an immersive metaverse experience for users to create an individualized AI friends, sociliaze, create dating personals, receive therapy and generate income using the cryptocurrency STRUE for the premium services. This intersection of technology, live applications, and VR is making tech and digital corporations invest billions in R&D. companies in this space are scampering to get their hands on a metaverse developer and start becoming a part of this ecosystem.
How Businesses are approaching the Metaverse?
When it comes to the approaches to Metaverse, different businesses are seeking different paths to its applications.
For example, gaming companies have a clear and distinct vision of their application. They want to create immersive gaming experiences for their gamers in the virtual world. They expect more sales, better attraction, and higher revenues and profits.
Social media companies have a different approach in mind. Facebook has set up a huge team to explore Metaverse and find its applications for the company. Here, the focus is going to be on human engagement, interaction, and communication.
Another interesting niche that is seriously pursuing the Metaverse is the auto niche. BMW has gone one step ahead of everyone and wants the implementation of this in the design and conceptualization part of its vehicles. They expect this to save time in a major way.
Big tech like Microsoft has already rolled out the Microsoft Mesh. An interactive virtual platform that can teleport individuals to see and experience different settings and surroundings virtually. This means that we are going to bear witness to exciting new technologies.
How far are we ahead in the Metaverse Development?
There is no doubt that a lot of the companies mentioned above are in an advanced stage of R&D. However, in terms of user applications or the technology going mainstream, we still have a couple of years.
However, the first breakthrough in terms of largescale application has taken place. Travis Scott, the hip-hop artist, held his first Metaverse concert in Fortnite that was attended by 12 million people!
To say that the tech is in its infancy would be the wrong thing to do. There are real-world applications taking place. What is more interesting is the fact that the biggest tech companies of our times have taken the Metaverse as a fish takes to water.
The Bottom Line
You can rest assured that in the next couple of years, the Metaverse is also going to become a significant part of our lives, just as social media and Ecommerce platforms. The Coronavirus pandemic has accelerated research into several emerging technologies.
If you have any questions that you would like us to answer, let us know in the comments section below. We will be more than happy to clear your doubts and answer your queries.
