We are on the verge of something huge. The Internet is preparing for its next upgrade – the Metaverse. And it all starts with an idea.
In simple words, Metaverse is the next version of the internet. Imagine a 3D virtual world, with ever-evolving aspects, and unique nomenclature, that its inhabitants collectively share. Imagine a second, albeit virtual, world with real-time events and online infrastructure – like a PvP session!
In theory, it sums up everything that’s happening right now in its world and will bring real-time events and updates going forward! The user is in a virtual world without borders. There are no sudden transitions that require logging out and logging in. Metaverse will be a platform-free and seamless experience at the time.
Before dismissing the “Metaverse” as another overrated Hollywood sci-fi concept, the tech giants had already set out to advance the process, with Facebook and Epic leading the pack.
A world of endless possibilities:
With the Metaverse, you are in center stage. Virtual communities, activities and events, all of which can be accessed seamlessly without having to log into multiple apps. For a user-centric approach, this is a key aspect of the Metaverse that works in its favour. For example, you can log into your virtual office as a virtual avatar of yourself, take a break and talk to your friend from the IT department, and go explore the game room for a round of a soccer game. Meet a client virtually in one place – easily move to the next step without contradictions. All this while sitting in the warmth and comfort of your own home, not having to take the subway or drive for two hours to work in traffic-clogged megacities.
We’re almost halfway there, confining the pandemic to our homes for work. But the Metaverse takes it to another level. Think of seamless cross-platform interaction with your friends around the world. Cross-platform gaming is in its infancy even in the gaming industry. With Metaverse, cross-platform interaction will be the gold standard for seamless virtual interaction worldwide. Secret addresses and codes won’t matter much!
With Metaverse, the virtual market will be a serious business issue. Brands will change the way they advertise, which will be an unforgettable experience instead of the intrusive popups and forced ads we see today. With the ads in the world, the ads are cleverly placed to grab the user’s attention so that the users voluntarily interact with the ad, making it more effective and engaging, unlike the distracting ads that break the immersion nowadays.
What is different is the way the user interacts with these ads in the world. Imagine an event within a game, where the player must perform an activity as a challenge, and the challenge is important to the product being advertised.
Every player loves an impromptu challenge with some goodies as a result. The most special is that players will get personalized ads based on their digital footprint and interests, which means different challenges that provide a dynamic advertising experience in the world. Top brands like H&M have opened their virtual store within the Metaverse providing users with a 3D shopping space and providing them with the option to experience merchandise digitally. They can also order goods using the CEEK cryptocurrency. Brands like Adidas and Nike have followed suit too, and with time, there will only be an increase in businesses venturing into the virtual world!
The road ahead
The Metaverse is still a concept that is brought to reality and comes with its own set of challenges, as with any cutting-edge technology.
While technological limitations are always there, privacy concerns are hard to ignore. Another concern is the concept of currency in the virtual world.
There is also the issue of government interference, which could change the entire dynamic of the Metaverse because cryptocurrency is one of its driving forces. While the prospect of a Metaverse is definitely something to look forward to, what remains is whether the Metaverse will define Web 3.0.
Saurabh Tandon is a Board Member and President of the Americas at Affine – an AI and data engineering consulting and solutions firm.
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