5 Top Uses for the Metaverse
5 Top Uses for the Metaverse
With the recent rebranding of a certain social media giant, the word “metaverse” has begun to be used more and more in various contexts, from social media, fashion, to education. In futurism and science fiction, the Metaverse is an immersive virtual and universal world that is facilitated by the use of virtual reality and augmented reality headsets. In short, a metaverse is the internet, but in 3D. It is a form of digital interaction where connected, virtual experiences can either simulate the real world or create worlds beyond it.
But what are the Top Uses for the Metaverse?
The gaming industry is supposedly one of the core investors of metaverse technology. Seeing as Metaverse technology was first implemented in the world of computer games, this is not surprising, as it allows the player to interact with others in a single virtual interoperable environment.
Projects such as The Sandbox, Axie Infinity, Sorare, and many others are already operating with success. For example, Axie Infinity has over 350,000 active daily users. The goal of the game is to collect “Smooth Love Potions” (SLPs). SLPs act like cryptocurrencies that can be bought and sold on a crypto exchange. The top players can earn 1,500 SLP per day ($435) on their “Axies”, although the SLP to dollar exchange rate is constantly changing. If you want to read more about specific games which have already come into play, check out our blog about the already working uses for the Metaverse.
Metaverse games have some specific characteristics which appeal to game makers:
- The game product acts as a platform that provides gameplay flexibility and allows participants to create their own content and games within and according to the rules of a specific metaverse.
- Games represent a fully-fledged social environment in which it is possible to contact other users; this fundamentally distinguishes metaverse games from regular VR games.
- The ability to play and earn cryptocurrency is the defining economic component of metaverse gaming, so now the gameplay can bring not only mental but also material satisfaction.
- Due to the compatibility of the metaverse architecture, the portability of in-game NFT assets ensures permanent ownership of specific digital assets.
- A mixed reality experience allows players to easily and seamlessly switch between different formats of interaction with the virtual environment.
Fashion is one of the most progressive areas of our economy, the industry is beginning to actively introduce new trends related to Metaverse technology. The most prominent example is from the luxury brand Gucci, which has created the “Metaverse design” category on Roblox. Users have the ability to buy exclusive outfits from the iconic fashion house on the gaming platform.
The fashion house Gucci, designed and created a digital bag, which was then sold for $4,000 on the platform, indicating that the virtual fashion industry is already becoming a significant source of profit for the leading market players.
Due to the increasing popularity of NFTs, it will not be long before the exclusive virtual collections of all famous fashion houses will be sold for millions of dollars on numerous fashion websites and in virtual boutiques.
A Lot of entrepreneurs these days are keen to make use of virtual reality, insisting that online shopping will soon evolve from a two-dimensional interaction into an unimaginable virtual experience. This experience could be free of the limitations of the physical world, but would still keep its advantages, such as the chance to try on, feel, and test the products or garments, or to get online advice from the seller.
Similarly, many experts are coming to the conclusion that the most promising application of metaverse technology is virtual shopping, which could then offer the possibility of becoming the owner of the purchased product or service in the real world. In the near future, it will no longer be necessary to visit shopping centers. Virtual shopping in a metaverse-made supermarket will replace online shopping.
The fashion brand, Zara, has presented its first collection for people and avatars. A physical and virtual collection can now be purchased at network stores anywhere in the world. The collection was developed in collaboration with a South Korean clothing brand, Ader Error. The famous Spanish retailer is now taking its first steps into Web 3.0, through The Zepeto platform, which is an incredibly popular meta-universe with more than 200 million users and a high growth rate over the past year.
Nike too has entered the virtual goods phase. The company, already opening Nikeland, which is a virtual showroom on the Roblox gaming platform, has had many visitors who can dress up their avatars in Nike apparel and shoes. At Nike’s virtual headquarters, users have the ability to socialise, compete in various sports activities, and the latest feature, creating their own mini-games.
The educational uses of the Metaverse look just as promising. Metaverse technology is certainly changing the ever-changing approach to learning. Virtual reality is not new to education, but the use of the new digital platform could bring the visual component of the educational process to a qualitatively new level, allowing students to essentially ‘live’ a specific experience, which could provide a more intensive and high-quality level of knowledge than any traditional classroom experience.
The metaverse has the ability to transform the learning process and create a truly effective learning environment. For example, imagine an astronomy lesson that takes place not in a classroom, but in a spaceship.
It should also be noted that the virtual learning environment could eliminate the language barrier. The technology could allow people from different countries to study in a single virtual space without social or linguistic complications.
The introduction of the metaverse school and virtual learning sounds intimidating and far from our present, however, it will enable people from the most remote corners of the world to receive a quality education in conditions perfectly adapted for new knowledge and experience. Another example would be Microsoft, which has created Mesh. This is a mixed reality platform where students, faculty or staff can interact using their personalised 3D avatars. They will be able to use Microsoft HoloLens to interact in an immersive classroom or see avatars in a traditional video conference. It’s therefore clear that the question of how to use metaverse in education has dozens of good answers.
Another one of the most forward-looking ways to use metaverse would be for virtual tourism. Technology lets you travel in a virtual space, so you don’t have to physically visit the locations that would excite you. Experts claim that the creation of an immersive digital environment combining virtual and augmented reality will be a breakthrough in the field of virtual tourism. A digital space filled with realistic content may become a product that will, in part, replace traditional tourism.
Through Matterport and Google glass, we’re already witnessing the start of 360-degree virtual tours. With the introduction of the metaverse technology, you will not just be able to watch the video tour pre-recorded by a guide, but be present in the tourist location you are intended to be in. Plus, you will be able to visit these places with your family and friends, making your experience all the more realistic.
For example, by imagining for a moment that you are walking through the Louvre museum, browsing the paintings of Van Gogh or Picasso, but it’s actually in the metaverse gallery: it’s not hard to appreciate how the introduction of the metaverse could transform the tourism landscape.
Virtual reality has already made its name in the sector. An example would be with the help of “Visualize”, where Thomas Cook launched the Virtual Reality Holiday ‘Try Before You Fly’ experience, which allows interested tourists to visit holiday destinations in a virtual setting. Once experiencing this service, the customer could then decide whether they wanted to go on a real trip to their desired destination.
Bonus - Real Estate
One of the core features of the metaverse is its ability to provide a client with the ultimate virtual reality experience. It’s no surprise that in a market niche as profitable as a metaverse property sale this option can be used in order to optimise the display of buildings for sale/rent.
The estate agents don’t have to travel to the site, and the clients don’t need to waste their time viewing dozens of houses, apartments, offices, or shops. Prospective buyers will instead be able to take a metaverse real estate tour, which will be almost indistinguishable from the experience of actually being there on the premises. Any client will be able to explore all options in real-time.
Moreover, a virtual tour can be adapted to specific tastes. Design, scaling, and soundtrack can all be customised for the individual client. In addition, augmented reality in the form of popups will make a metaverse virtual real estate site visit even more informative and useful.