The Enterprise Metaverse

Are the metaverses the future of digital companies? Numerous experts believe so.

Metaverse, as defined by Wikipedia, is “a perpetual, shared, 3D virtual space linked to a virtual universe that is perceived.”

Sounds like a futuristic idea? The metaverse might actually be as close away as you think.

Mark Zuckerburg has hinted publicly that he’s interested in creating the metaverse. In what is believed to be a move in this direction, Facebook has unveiled Horizon, their new social reality application where avatars can play and work with each other in a virtual world. Microsoft Chief Executive Officer Satya Nadella has also said that his company wants to create the “enterprise cyber-world.”

Companies that wish to remain ahead of the competition should consider how they plan to interact with customers, identify new ways to advertise, and even get sponsorships from the metaverse.

Metaverse Opportunities for Enterprise Businesses

Sponsorship of concerts and events:

Fortnite recently hosted a spectacular performance by rapper Travis Scott. Massive Attack headlined a music festival organized by Minecraft. As more concerts and events are staged within the realm of metaphysics, businesses will be able to take advantage of a variety of possibilities for profit-making sponsorships.

Products that are digital-only:

There are huge opportunities to create products for the digital realm. Anything that people own in the real world could be something that they would like to buy in the metaverse including cool clothing and clothes to cars, homes, and many other things that we cannot think of right now.

Remote working:

Work is also expected to be a part of the metaverse, from co-working spaces , meetings, to simulations , and training. Facebook Horizon’s Workrooms attempts to build the concept of Zoom and offer workers new ways of working online , in virtual reality environments.

Games:

Games have long been the mainstay of the metaverse’s plans. Explore the top VR games available right now and find ideas for your business.

Processing manufacturing 

Anheuser-Busch , which is the world’s biggest brewer uses metaverse-based applications to drastically improve their operations. They utilized Azure Digital Twins to create an entire digital representation of the brewery as well as Supply Chain, which syncs in real-time to the physical environment. The model lets brewmasters modify the brewing process and perform quality control. Click here to view an instructional video on how the digital twin procedure functions.

What’s next for the Metaverse?

Vlad Panchenko, Founder and CEO of DMarket the marketplace and technology that allows the creation of virtual worlds, claims that the metaverse will expand to encompass a variety of cross-chain opportunities because the economy of virtual reality expands in importance.

As the spaces are merged to form a metaverse this opens up huge opportunities for companies to create amazing experiences for their customers , but also to improve their business processes and keep their competitive edge.

Metaverse: Five things you need to know about and what it could be to you

1. Virtual worlds:

this is, to me the main feature of the metaverse. You can explore it on computers, gaming consoles or mobile device wearable technology, or any other gadget, absorbing 3D images and sounds as you go. The concept is that it makes you feel more in the realm of metaphysical reality, and possibly more absent from the real life (where your body is still adamantly).

2. Virtual reality.

You will require the right headset for this. The idea is that you are immersed in the virtual world making you feel more in the present, if not until you come across things present in your everyday life such as that coffee table.

3. Others.

In the metaverse, it is a social one. There are many other people in there, portrayed by avatars. A few of these avatars could be virtual agents, bots and expressions that are artificially intelligent. It’s possible to connect with other users or do activities together. The social element is likely to be a major factor in the Facebook metaverse due to its past as a social platform.

4. The virtual world is persistent.

This means that the virtual world is accessible whenever you wish to go there. It can be altered with the help of adding virtual structures or other objects. Most importantly, these changes will remain on the next go to. It is possible to establish a home and even own a piece of it. The metaverse will be based on the content you create as a user such as your digital creations and personal experiences – in the same way that social media is nowadays.

5. Connectivity to reality.

In some versions in the metaverse virtual objects in the virtual universe is actually real that exists in reality. For instance, you could fly a drone from the metaverse and steer in real-world conditions. Many refer to the real and virtual as “digital twins”.

What is possible to accomplish in the metaverse and when?

Different companies will likely have their own ideas or locally-based versions of metaverse. However as with the internet, they’ll all be linked, which means you could move from one to the next.

It’s likely that certain aspects will appeal to the most immediate and practical than other things. Games seem to be a sensible move, since a lot of gamers are already enjoying online gaming and certain games in a way already have entered the realm of metaphysics (think of the traits in the previous paragraph).

The thought of being able to socialize or have a chat with other people and feel as if you’re there in person is attractive, especially in the current world of pandemics.

One final thought

Idea of the universe was exhilarating, but it was it also offered a myriad of potential for both real and online world-wide harms, ranging from addictionto crime and the demise of democracy. It is interesting to note that Stephenson’s world was owned by huge corporations, while governments were reduced to a minuscule papers-shuffling outposts.

In light of the current conflict between the big tech industry and governments all over the world regarding privacy freedom of speech, privacy and cyber-related harms, it is important to be thinking about what metaverse we would like to build and who will be able to own, create and oversee it.