In 2022, metaverse was the buzzword that one could not ignore. With Facebook’s rebranding as Meta in 2021, global experts and thought leaders visioned a digital version of the real world where users could virtually engage, play and socialize. Contributing to the future of the metaverse, the growth of NFTs has been unstoppable. From the common man to celebrities, the ownership of any NFT and digital assets is not uncommon. As the metaverse is expected to add an estimated $5 trillion to the global economy by 2030, it is safe to say that 2023 is going to set the trajectory of upward growth.
Let us explore the endless possibilities that metaverse technology has opened.
Immersive experiences using AR and VR have heavily penetrated the travel and tourism industry. Users can now have immersive experiences they wish to visit before actually going there. It has enabled the “try it before buy it” marketing technique. The most virtually travelled place is The Anantara Dhigu resort in the Maldives. It allows travelers to virtually explore their resort room options from every corner of the world.
Microsoft Mesh and Metaverse
Microsoft Teams is on the path to enabling 270+ million monthly users to easily access immersive meetings and the metaverse securely. With the Microsoft Mesh integration, there will be no need to install new applications or create a new identity. Users can directly join immersive meetings using the MS Team user interface. Employees can collaborate, innovate and work together without the limitations of the physical world.
New Marketing Potential
The metaverse has provided a new platform for brands to market and advertise their products and services to consumers. So far it has proved to be an innovative platform with virtual stores, NFTs and engagement opportunities. It has truly blurred geographical boundaries by offering its customers the chance to experience the brand. Brands like Nike, Gucci, etc. have already launched their stores, NFTs and experiences on the metaverse. We can hope to see more such creative solutions to engage users.
As Metaverse is a close replication of the real world onto a digital platform, it only makes sense to have avatars representing us in the virtual world. This will mean avatars that could be looking exactly like us walking around in the metaverse visiting stores and interacting with others. That means purchasing and donning designer fashion and haircuts just like we do in the real world.
As the gates of the virtual world have opened, the flow of information, brands and every other experience only keeps pouring in. We are in an era of witnessing this development of the world right from scratch. It is time we believe in it and partake in its development as users, entrepreneurs and more.