Your 2022 guide to the metaverse and how it will change business
The Birth of the Metaverse
Many of us have heard of the term ‘metaverse’ thrown around more recently. Facebook changed its name to ‘Meta’ in a bid to show that it wasn’t just connected to one product but several. It’s no secret that Mark Zuckerberg is delving heavily into the metaverse and its future, so the rebranding of facebook hopes to push the idea of metaverse into the here and now. But what is the metaverse, and where did it even come from?
The term metaverse stems from a science fiction novel published in 1992. “Snow Crash”, written by Neal Stephenson, depicts characters who meet up in 3D buildings and other virtual environments. Of course, the metaverse we know today has moved on a little from this book and can be described as multiple elements of technology and augmented reality where users can meet up in the digital universe. Users can log into virtual realities (VR) and in the future will be able to partake in social interactions, host meetings, tour new homes or try on clothing through this digital space.
It is predicted that it will be 5-10 years before we see a mainstream metaverse readily available to the public. However, tech giants have already started staking claims in the future of the internet. Microsoft, formerly named Facebook, Epic Games and Minecraft are just a few of those tech companies who are investing heavily into our online futures. Let’s look at how the metaverse is currently affecting the business world.
How the metaverse is currently affecting our world
If we look at metaverse in the business world, we can see how it is currently being implemented and what we expect to happen in the future. One of the main ideas behind the creation of the metaverse is giving users the ability to have a presence in a place, even if they are somewhere else. Rather than using Zoom as a way of hosting meetings, where you use a camera and a background, the metaverse creates a solid presence through an avatar in a particular place, whether you are having coffee or presenting in a boardroom.
Currently, businesses across the globe are looking at virtual experiences in the digital space and how they can incorporate their current business structure. Human interactions are a significant element to understand in the metaverse – how will people interact, what avatars look like, and how far can a metaverse company really go? Many of these questions still need to be answered as more companies decide to join a digital platform, the answers will become more apparent.
Online games are already a big part of the digital world. Minecraft, Roblox and creators of Fortnite, Epic Games already have a significant stake in online spaces, and this is only set to increase as we see the metaverse take shape. Minecraft, in particular, was hugely popular during the pandemic as children were at home and needed digital space to connect and play with friends, as this was impossible in real life. Games that offer an online platform for users to create, play and build together whilst interacting is just the beginning of the metaverse.
The future of the metaverse and how we will do business
From looking at our previous points, it is clear that the metaverse will genuinely open up the possibilities of business and social interaction and will bring a completely immersive and interactive digital world that will join mixed reality – augmented reality and virtual reality – along with holographic avatars. From the pandemic, we have seen home working become not just a luxury, but a necessity and the future of the metaverse could see a complete breakdown of the split between office and remote working.
What are some of the considerations for the future of the metaverse to be successful?
Cryptocurrency is growing rapidly worldwide and has been quite the journey for early investors already. With the metaverse being a digital world, the most natural form of currency will also be digital. Blockchain cryptocurrency is the answer to this. Whilst we are not suggesting you invest in crypto as a business right now, it may be worth getting an understanding of this digital currency and how it could support your business in the future.
It’s no secret that businesses will need to invest in the future of metaverse to stay up to date with the shifting digital world and what this will bring. Possibly unbeknownst to the general public, large businesses have already been buying up metaverse real estate so they can prepare to use it to interact with clients and customers when the metaverse becomes a way of daily life.
Sales may increase for eCommerce platforms
Imagine having a dinner date with a friend and mentioning that you like her top. The future of the metaverse could see similar tops come up in the corner of your glasses, honed by your virtual assistant by the details your friend gives about the top. The metaverse could genuinely open up selling and sales on eCommerce platforms, giving customers a chance to view the products with a great user experience before purchasing with their digital currency.
Safe operating environment
Security and safety will need to be heavily invested in to protect against fraud and hackers. A solid security system will need to be in place to protect against identity theft. This is already a real and growing concern in our current world, so failure to put safety protocols in place could see digital identities and fraud become even harder to manage in the digital world. Founder of Meta Mark Zuckerberg has given assurances that these protocols and systems will be in place.
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Join YostratO in their metaverse office from the comfort of your desk
At YostratO, we are a forward-thinking web development team passionate about making things streamlined for our busy clients. Our metaverse portal is a space where you can join us for meetings, brainstorming and business discussions rather than taking time out of your day to travel to a mutual meeting point. Create your own online identity and meet us in our social space to discuss your website design and development, see our product demonstrations and meet in our social space.
Are you looking for a meta platform for your own virtual reality meeting space? YostratO can support your business by building a customisable meeting space completely tailored to your branding and company feel, giving you the freedom to step away from larger, more generic platforms like Zoom or Microsoft teams.
Get in contact with YostratO today for your website design and development. Speak to our experienced team about the future of the metaverse and how we could help your business thrive through virtual reality.