The Metaverse can be described as a virtual world or universe that exists on-line and is inhabited by people in the form of avatars.
It takes the form of a 3D environment that allows users to interact with each other and with the 3D environment. Inside the metavers, users can create, explore, and customize their own virtual worlds and experiences.
The metaverse commonly seen as a place to meet, socialize, play games, create art, and much more.
It is often considered a form of augmented or virtual reality.
Summary
- The Metaverse is any space where humans interact with each other in a virtual environment – i.e a 3D internet in parallel with the real world.
- It can be accessed through a AR and VR and in some cases, through a computer screen
- The Metaverse is being sold as having the same potential as the early internet
- The benefits / opportunities are:
- Real-time Virtual Presence (Meetings, get-togethers, events etc)
- More Interactive Showrooms for businesses
- New experiences perhaps not possible in real life (Travel, disabilities etc)
- Borderless contact with other humans (Meet anyone, anywhere, at any time)
- New training experiences
- New Job Opportunities
- Open education possibilities
- Challenges are
- Lack of VR devices
- Bandwith / stability of internet connection
- Low consumer adoption
- Lack of standardisation (locations, services, discovery, etc)
- Facebook changed to Meta to assert their new focus for the Metaverse. This presents that risk that they could become the sole / dominant “owners” of the metaverse
- Lack of analytics for businesses (what are customers doing in the metaverse, how best to reach them, what services do they need / want?)
