It is still unclear what will be possible in the Metaverse; however, many believe that one of the first services offered will be an advertising service. Imagine if you could live, work and play all in one location, where your virtual avatar could view adverts based on the spaces you visit.
Another possibility for companies to advertise to customers would be interactive products or websites. This means that users could instantly shop for products without logging in because they are already there. If this happens, it will create an all-new dimension in online shopping, thanks to the Metaverse.
One of the most astonishing things about the Metaverse is not what we will be able to do, but where we will be able to go. Huge strides have been made in 3D modeling and simulation technology, which means that the possibilities of designing and building new places and worlds for people to visit are endless. For example, imagine if it was possible to design and build a replica of your favorite football stadium or city by just using a few computers. It has been predicted that the Metaverse will include worlds such as these.
Another thing that can be expected in this virtual world is an improved social experience with other people. An example would be if you are in the hotel lobby but do not wish to leave it. If you are in the Metaverse, you could meet people, chat with them and share their experiences.
Virtual Reality and Metaverse?
Virtual reality evolved from a science fiction concept to a reality thanks to the Oculus Rift, a head-mounted display developed primarily for video gaming. Eventually, users will be able to recognize their avatars as their own image and interact with other virtual entities as if those entities were real people. As a result, the virtual reality market and its devices are expected to grow from $1.8 billion in 2015 to $25 billion by 2021. Governments and universities are also investing resources into virtual reality technology, spending about $400 million on related research and development projects.
This growth indicates that the question of whether we will develop a Metaverse is not if but when. The answer to that question will depend on how fast we can develop this technology and what becomes the catalyst for its rapid expansion. Will it be government funding? Will it be entertainment? Time will only tell, but one thing is clear: the future will be different than anyone expects, as Zuckerberg predicted.
It has only just been announced that Facebook is considering hiring 10,000 individuals in the EU to work on a metaverse, which means it could be closer than we think. However, the idea of a metaverse is not new and has been around since the 1980s, and it’s predicted to be here by 2027.
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