Marketing in the Metaverse

The metaverse is steadily getting all the attention around the world. People have different definitions and diverse views about it and it will continue further as well.

To quickly define the meaning of the metaverse, we should think of a 3-D web powered by virtual reality (VR), machine learning, the Internet of Things (IoT), artificial intelligence and augmented reality (AR).

The Metaverse is persistent, self-contained, infinite, interoperable, and in real-time, and these characteristics are its key features.

If something is still not clear then let’s take an example to understand it better:

The world is continuously changing in this post-COVID-19 pandemic era. Shopping malls, and cinema halls, started following social distancing, People started preferring online grocery ordering, Doctors started virtual consulting and more. Some even closed temporarily. Organizations have adopted the remote working model, and people have distanced themselves from large gatherings, meetings and public events.

However, people started to miss personal interactions, office environments and gatherings. People can make calls, send texts and do video calls to their friends and family but just after ending the conversion they will start again to be locked.

But is there another and better way to feel freer and engaged with the world? Imagine that you called a friend and asked to meet them, and they’re there in a matter of minutes. Is it possible? Yes, with the Metaverse.

You will just need a VR headset to augment your surroundings virtually. Since it is the virtual world, it is not real, however, it can be close to the real world. With continuously improving technologies, the metaverse could become even more exciting and real, and users will soon be touching and feeling virtual objects through gloves with haptic sensors.

So, even if you are doing work from home and your AR glasses are on you can experience your organization’s metaverse office. You may ask what is new in it, it was even now possible with VR headsets. So, the answer is metaverse will allow you to communicate with your colleagues there as well. There is more you can do in the metaverse.

Recently, Microsoft has come up with the announcement that they are soon launching its own firm Metaverse. In this enterprise, users will get to access trade tools such as MS Excel and PowerPoint on it. 

You will get into the metaverse for a business meeting at 12 pm. And after that, you will get to meet with an old friend for a digital coffee chat. Now, if you seem to be spending most of your time in the Metaverse where your computer & iPhone will already be exchanged by iGlasses soon). Later, it’ll be hard to finalize that you’ll also be interested in doing your daily shopping. And that comes under a similar experience that might be working by total immersive gaming. Doesn’t it look like the shadow of your life? 

Now, let’s be natural and think if we’re making duplicates of the physical world inside the metaverse. Have you realized why the reactions of the basic customers change in that virtual world too? 

Assume yourself in the circumstance where this transformation will be riotous for many of the well-settled Web 2.0 e-commerce and retail giants. In case they didn’t adopt this trend. 

Now, Google Survey is the means upon which critical data why retailers recognized it seriously adopting to the metaverse. Here, it shows that people approx 66% agree with using AR for assistance during shopping. Also, Shopify indicates that involvement with the products that hold 3D content recognizes a higher transformation of 94% rate than without it. 

Brands like Gucci, Coca-cola, Samsung, and Nike are those who already shifted toward metaverse to acquire advantages. Now, the trend of this new shopping in the metaverse will go fast since you get to know it even more. 

The Telecom trend is growing, more people count on digital spaces and digital modes of communication such as video and web conferencing to interact online with others. Metaverse is uplifting its existing digital experience by bringing a range of real-world capabilities to users in the three-dimensional immersive world. Following are the major benefits that Metaverse and all the things happening around it:

Handling the Metaverse remote work challenges

The Metaverse has the potential to handle all the current challenges of remote working culture. It provides managers with a virtual environment where they can meet avatars of employees, communicates with them, checks their body language and interact in person. In addition, the employer can solve problems like time theft and gold bricks at the workplace by keeping track of the team in that virtual space as well.

Highly efficient for Metaverse healthcare professionals

The Metaverse appears to be a great tool for healthcare professionals and medical staff who were previously incapable of meeting with patients due to limitations, borders and restrictions. Through the Metaverse, they can interact with the patient and get clear information about their health status.

Making Metaverse online games more exciting

The idea of ​​their avatars exploring vast virtual spaces is appealing to players. There are many games which are not in the metaverse but were more about exploring the world and they all were popular. Metaverse again is uplifting the level. And now gamers will be able to create their own avatar and do more fun activities but it will be close to the real world.

After knowing about Metaverse and its benefits you must want to know exactly where this piece of technology will fit in. As a significant part of the world is heading toward digitization. There are various fields and works where Metaverse can be used. Here are some of the major ones. 

Metaverse Virtual work and Learning spaces

The COVID-19 pandemic has forced businesses around the world to adopt digital modes of work and communication. Video conferencing platforms gain popularity for online classes, remote work, and other WFH arrangements.

However, there is something missing about these platforms, they have failed to provide a compelling and engaging experience due to the real-time audio and video mode of communication. 

Metaverse addresses this limitation through its well-detailed, graphically rich virtual environments, 3-D avatars and immersive meetings to provide users with a more engaging experience.

Instead of having participants look at computer screens and communicate via microphones, the Metaverse allows us to navigate a virtual environment with avatars of real participants.

Brains behind the meta platform believe that peasant and upcoming technologies can do more than just post text, images and videos.
With Meta and metaverse, they are trying to present a three-dimensional space that is not limited to seeing people on a computer or mobile screen and hearing their voices.

A Metaverse-based platform can provide a more immersive experience among social media users by enticing them with a sense of presence. The combination of virtual reality, artificial intelligence and augmented reality can provide a more realistic digital experience beyond the capabilities of the current social media universe.

Of course, we’ve seen social media expand from simple text-based chat to sharing memories and stories, and now metaverse is here to completely transform it into the virtual 3d world. Content in the Metaverse is graphic rich and well detailed, and users themselves become content creators as they literally live inside this new virtual world.

The internet is filled with positives and negatives of everything and Metaverse is no different. However, if you want to know where the Metaverse revolution is heading, the next two subheadings will be enough to tell you.

Present of Metaverse 

The metaverse has introduced a nirvana for the one who is a technophile. It is defined as a place to engross them in any virtual world and can involve them in any physical reality at any time. And also would be capable to see and feel anything, no matter you are away around thousand of miles from the real location. 

In the metaverse, there would also be an enhancement in the virtual economy. Therefore, an individual is able to create, buy and sell goods. Moreover, this comes as a more idealistic vision when it comes to the metaverse, it is interoperable which enables you to take digital items such as clothes from one platform to another. In reality, you can purchase a shirt from the mall and later can wear it in a movie theatre. Whereas the metaverse enables you to enable a persona that you can carry everywhere as quickly as you can duplicate your profile picture from one virtual space to another. 

If we have to talk about the Covid pandemic time when it raged across the globe and dragged the economies on the ground. It was the internet there that made people capable of doing Work from Home (WFH). Seamlessly, this technology has helped firms to stay afloat and arguably, even expanded insanely. That time has also brought the change in education sectors that radically changed and have adopted and turned more technology-intensive. 

At this time, metaverse has potentially adopted several fields ahead by showcasing virtual reality (VR) that relied upon wearables products. Meanwhile, these wearable products will glimpse the users to an alternative digital world from the enclosure of their homes. These people would be capable of communication regardless of the need to undergo long commutes, breathe in the tainted air, and even dress up for various purposes. Whereas children could be able to study various subjects and modules in their own steps and also can explore their horizons far from what is recently possible with the standard curriculum. 

As the real world is full of hassles, in the digital world there would be post routines such as watching movies or social communications with friends that will have their preferences. If we could have simply concluded, then there is an endless possibility with the metaverse. 

Future of Metaverse 

Since the metaverse concept has begun to incorporate Web3 technology allows via blockchain technology. The metaverse future would be possibly the same as the real world in several aspects and also be able to exchange with some physical world actions. 

There are already a few metaverse non-fungible token (NFT) vendors that have allowed their NFTs to function in some metaverse games like footwear and clothing and further planning is about to include them in the field.

The growing number of NFTs enthusiasts are vibing the possibilities to invest in the digital world like games and sell or lease them for a cost. In the future metaverse, there could be a massive contributing factor that lies behind the growth of the digital economy. And it relies on video games and the digital world where there is almost zero disturbance. 

In this way, both users and creators receive more and this can be enhanced even if nonfungible tokens(NFTs) are incorporated into in-game assets. And thus, how decentralization of the digital economy turns into a reality. 

We already have an up-growing version of metaverse existing with the virtual goods in today’s time like NFTs showcasing famous art and virtual memorabilia are already being overtaken through investors and crypto enthusiasts likewise. 

There could be a new future as the major players like Meta step into this place and promote it with confidence in this way. It’s just about the time since we view the entities following suit. It will expand the boundaries of the metaverse and will attract vast benefits not just from investors and consumers but from everywhere. 

It is believed that the future of the metaverse also revolves around the idea of running openly without any interference from a single group or organization. The involvement of creators will be from around the globe. As more brands are looking to open their outlets on the broader metaverse as similar to the internet in the current time.

However, the main strategy of ​​being able to immerse in a digital online world has been around for many years, however, a real metaverse where lifelong exchanges are possible is yet years away. In his annual review blog post, Microsoft co-founder Bill Gates mentioned that most people don’t have VR goggles and motion capture gloves to exactly capture their expressions, body language, and the quality of their voices.

However, when it comes to business, Gates indicated that in the next two to three years almost all digital meetings will move from two-dimensional square boxes to the metaverse – a 3D space in which parties present as virtual avatars.

Many industry experts also think that even without cryptocurrency the Metaverse sector will grow rapidly in the upcoming future. There is some major development in a very wide area of technology that has been happening and these all will result in something great and enticing.

The answer to the question How far is Metaverse is simple: it is just around the corner. In the next few years from games to the internet to eCommerce to entertainment to healthcare to work, everything will adopt 3D space. And people who are living in the 2D world will experience a very futuristic and realistic world-where they can even change the theme of their virtual surroundings in a few taps.

However, it is also a true fact that the Metaverse and all the technologies around it will take some time to reach the level where we can call them perfect technologies. They need some time and serious efforts to build something that the Metaverse gave us a dream of.

Many companies have already started to provide some small-scale services which are listed above related to Metaverse. And since some big brands are already in the race, there is a very minor chance that the plans of living in a Meta-world will be delayed.  It will be among us at its best in the next 4 to 5 years.

So, get ready for all the changes it will bring to our life and society, and to reach there it doesn’t even need the support of cryptocurrencies which have been on a downfall for the last few months. If the transactions or payment is a concern then let me remind you that there are many countries that are already working on their own digital currency, and there are also a few popular payment gateways. And while combined all together we can even experience the world of Metaverse sooner than before.

The entire Metaverse in a nutshell

Metaverse is growing and growing at a rapid pace, it is actually a combination of many technologies but ultimately all technologies are being used together to create a real-like virtual world and give the same experience to the users.

However, the Metaverse is not the perfect one and it will take time to reach that level. There are many projects being developed in and around Metaverse and businesses are actively taking interest in them. It is expected that soon the more polished projects will start to come to the surface. We just have to wait and keep developing our projects so we stay ahead in this world. There are many companies that are providing Metaverse-focused services and if you want to know more about them or want a project based in the world of Metaverse you can easily hire them.