Have you ever played an online role-playing game (RPG) like Fortnite? In this video game genre, you’ll create or choose an avatar and use them to explore a fictional setting or world. In this multiplayer game, you can interact and play with other gamers.
The metaverse concept is not so different from an immersive gaming platform, but it offers more.
It’s not a game or application you can download off a game store like Steam and play at your convenience. However, just like a role-playing game, virtual avatars will represent users.
It’s also like an open-world game, where the virtual world will constantly develop based on the user’s interactions and decisions. And unlike an online game that is completely fictional, Metaverse merges the virtual world with reality.
What Can You Do in a Metaverse?
Think of Metaverse as the virtual doppelganger universe.
Instead of exploring a fictional world and engaging in imaginary battles, you get to experience and interact with the virtual copy of things in the real world. So, for example, you can tour around cities, shop from your favorite brands, etc.
In addition, virtual communities are interconnected. You can go from one virtual world to another to meet people, work with people, do business, and more using devices like augmented reality glasses.
Let us think this way.
For instance, you are a Shopify or eBay store owner. Usually, if someone’s interested in what you offer, they will go to your website, check your items on your product page, choose something that suits their preference, and complete the purchase.
But what will bring this into the virtual reality world?
The shop owner creates a virtual (or augmented) version of his shop in the Metaverse.
It is like he made an avatar of his shop.
Then, he uses this avatar to travel and explore different hubs in the Metaverse where he can meet other sellers and buyers. From there, if someone is interested in what he offers, they can interact with his avatar and use avatars of products they like to do a virtual shopping experience.
As a potential buyer, this can significantly help in making an informed decision.
Why? It’s because there is a feeling of meeting the shop owner like in real life. In addition, the first-person view and the physical representation of objects make it more immersive.
Brands Entering the Metaverse
Mark Zuckerberg and his team aren’t the only ones entering and exploring the possibilities in the Metaverse.
Other companies like Microsoft are also talking up the virtual world. Video game companies are also not going behind. In fact, the creator of Fortnite, Epic Games, has raised a billion dollars to help with its plans for metaverse creation.
Big brands in different industries like the SK-II, Christian Louboutin, and Coach have also launched digital destinations for their customers. Their virtual spaces offer their fans an immersive experience. For example, SK-II’s SK-II City offers users opportunities to learn, connect, and shop. Tokyo inspires the virtual city, and visitors can tour the city by simply maneuvering their mouse cursor.
To simply put, there are lots of opportunities for businesses.
Metaverse paves the way to sell virtual products. Virtual products pertain to services, goods, or information mediated by virtual reality technology. Examples are interactive games like Fortnite, currency such as Bitcoin, real estate services such as PropertyShark VR, and movies like Ready Player One. The possibilities are endless.
Could This Be Another Hype?
If you can still recall, the first time World Wide Web (WWW), or what we call the internet today, was launched in 1991. It brought about a lot of changes in society. It transformed the way we interact and do business.
The same thing happened with social media. Facebook, Twitter, Instagram, and other social media websites were invented. They ultimately changed the way we communicate and connect.
Similarly, the Internet of Things (IoT) is the convergence of physical and digital worlds that result in the automation of things like machines, vehicles, buildings, home appliances, etc. Metaverse will have a more solid foundation to build upon with IoT systems in place.
Is It Time to Jump in the Metaverse?
However, given that a visitor needs some equipment like VR headsets and smart glasses that are as costly as a premium mobile phone these days, it might not be as successful as the Facebook app. Furthermore, they require a high-speed internet connection. And we all are aware that a high-speed internet connection is not always accessible.
At this stage, it’s hard to tell where the Metaverse is heading. Nevertheless, it would be highly negligent for businesses and marketers not to recognize this trend.
The Bottom Line
The question to be asked is: Are you ready to jump in? Social media marketing has been the best way to build your brand, interact with fans, and keep track of every move. However, things may be changing soon.
Though Metaverse is still in its early development stage, it has potential. We can only wait for the day when VR headsets are the norm, and we can spend time doing virtual stuff like shopping or touring Seoul virtually. Buying your next pair of Nike shoes or Coach purses online may soon be a thing of the past.
Let us know your thoughts and opinions on the newly introduced concept of Metaverse! Do you think this will have a future? Have there been other concepts like this before?
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