The Metaverse as a concept has been around for a while but it got much more attention after Facebook rebranded as Meta. Facebook-now-Meta’s future is now largely based on its ability to develop a workable Metaverse. Much of the work will be out of Meta’s hands as it will have to do with upgrading internet access and computer speeds. However, they will be working on the nuts and bolts of how one uses the Metaverse in terms of headsets, etc. There are already projects that use the Metaverse such as Decentraland and Sandbox. Thus, it might be time to start thinking about not only how you can invest in the Metaverse but also how can your business use the Metaverse for your own purposes?
Metaverse Applications for Business
The core aspect of the Metaverse is virtual reality. Realtors use virtual tours to sell homes but the videos are generally on a computer or smartphone screen. An ideal way to promote a home or vacation opportunity would be a sufficiently advanced headset that the person could really believe they are viewing the property or resort in real life. In fact, the Metaverse will be an excellent way to demonstrate how to accomplish tasks like repairs of machinery in which tactile experience is important. Anything that benefits from a real-as-life demonstration will benefit from the Metaverse when it is in its full eventual glory.
Alternative Reality Versus Virtual Reality
One of the things that Meta and others are working toward is the ability to interact with other people or with artificial intelligence in virtual or alternative worlds. Thus Meta is developing haptic gloves that are meant to fool our senses into thinking we are feeling things that are not there and headsets that will replicate vision in the real world. Maybe artificial smells will be included. The goal is to provide the millions of small details that comprise facial expressions, a rainbow, and leaves fluttering in a summer breeze. The systems that connect us will need significantly greater bandwidth for this system to be perfect but that should not stop businesses from applying the current state of technology to their benefit.
Look for Plug and Play Solutions
The vast majority of businesses will not have and, in fact, will not need technological expertise to develop any of the potential uses for the Metaverse in their businesses. Just like today when there are programs and venders who will take “home videos” and turn them into professional presentations for showing houses or promoting vacation packages there will be companies like Meta that will provide packages that are essentially plug and play. The key will be adapting the available packages to the specific needs of your business. There will be trends that emerge. Getting in too early may result in a lot of wasted time and effort and waiting to long will allow your competitors to use the Metaverse to take business away from you. We expect to see a consultancy business evolve that helps match business needs with available technologies and applications. One of the decisions to make will be whether to have an IT person in house to handle this or to farm out the job to outside specialists.
Getting in early even on a small scale will help companies grow with the maturing Metaverse. A lot of the details will be best learned by trying them out instead of trying to understand them “on paper.” Eventually the Metaverse will be a disruptive technology like the personal computer, smart phone, and internet. A useful review of the state of the Metaverse and thoughts about adapting it to business uses can be found in Forbes.
How Can Your Business Use the Metaverse? – SlideShare Version