A Holiday in the Metaverse
It’s a windy Saturday morning in late March, and you’re sat in front of your computer screen perusing through several holiday packages knowing full well that booking now should hopefully alleviate any last-minute holiday booking price hikes.
As you scan down the list, comparing and weighing up the various prices, perks and amenities of each individual package, something occurs to you. These options that would have once filled you with excitement, now bring you trepidation. What has changed? Could it be the logistical headache of pre- and post-flight testing? Or perhaps it is the confusion around vaccine requirements? Maybe it is your renewed environmental concern for flying long haul? Whatever it is, there is a deep sense that travelling is not what it used to be.
Snapshot of travel during the pandemic
From February 2020 to April 2020, monthly air passenger arrivals to the UK fell from 6,804,900 to 112,300 in April 2020 — a fall of 98.3%. Moreover, the Office for National Statistics (ONS) reported that there were just 23.8 million visits overseas by UK residents in 2020, the lowest figure since 1985. While, by October 2021, arrivals into the UK were still down 54% compared to pre-pandemic levels — where you could go and what you needed to travel was still very much up in the air…
Before you can ruminate for a moment longer, your partner walks into the room, briefly scans the contents of your screen, and says in a hushed tone, “Honey, there is another option.” You look up quizzically as she continues, “I’ve heard through the grapevine that there are some very compelling rates on 2-week all-inclusive holidays in the metaverse.”
These were words you never expected to hear from anyone, let alone your technophobic partner. It causes you to choke on your biscuit and enter into a coughing fit (don’t worry, it’s not COVID). While your partner proceeds to hit your back in distress, you harken back to an article you read just the other week about owning real estate in the metaverse.
Owning real estate in the Metaverse
While a foreign concept to many, 2021 alone saw real estate sales in the metaverse top $500 million, with predictions for 2022 already set on this number doubling.
Once you’ve composed yourself, your partner continues, “It’s not crazy… just the other day one of my school friends went to Justin Bieber’s concert in the metaverse and had a blast!” A long-time ‘Belieber’ yourself, you begin to entertain the conversation. Your partner presses on, “Think about it, all of our friends, family and colleagues spending goodness knows how much on flights, accommodation, COVID tests and more… all we need is a VR headset.”
For once, you agree with your partner. You’d even started noticing some colleagues running around the office with headsets on themselves. And, at a fraction of the price of a traditional holiday, it almost made too much sense to book your holiday in the metaverse… so what was the catch?
Increase in VR adoption
The usage of VR headsets has been steadily on the rise spurred in part by Facebook’s rebrand to Meta. Projections for VR market growth show an increase from $5 billion in 2021 to more than $12 billion by 2024.
Pi Labs has also begun to make forays into the space. Moonhub, a VR training platform providing high level data and insightful employee analytics on workplace training performance, recently joined the Pi Labs Growth Programme.
You pause for a moment sitting back in your chair, slowly warming to the concept, and begin to imagine what it would be like to lay on a sun lounger with your VR headset on, listening to the sounds of the ocean and tropical birds flying overhead while you tuck into that eBook you’ve been dying to read. But, where would you even go?
Potential Metaverse holiday destinations
While there are several destinations to choose from when considering your metaverse holiday, there are currently only a few worlds one could reasonably imagine visiting, namely: The Sandbox, Roblox, Horizon Worlds and Decentraland. Back in December 2021, Ralph Lauren built their very own shoppable, winter holiday world in Roblox. Virtual activities included a bespoke retail experience (i.e. dressing up your in-game avatar), ice-skating, hot chocolate, and a treasure hunt that rewarded its victors with digital prizes.
But then it dawns on you… what of the cool, ocean breeze on your face, the crisp ocean air that fills your nostrils, or the impromptu discovery of local cuisine. The idea of disconnecting from screens, email, social media, Amazon deliveries, work stresses and your far less exciting life back home… this doesn’t quite work when you’re still sat on your sofa in your underwear, crumbs down your front, while the dog barks at the postman every ten minutes.
You turn to your partner and, despite all the cost savings and COVID shenanigans that could be avoided, deliver the bad news: “A holiday with actual sand, still ranks higher than a holiday in The Sandbox, at least for now…”
However, for those interested in holidaying in the metaverse this Easter, why not go all out and buy some real-life sand to elevate your metaverse beach experience (fun sold separately, Pi Labs not liable for any ruined carpets).
For more updates from the team and for a look into life at Pi Labs, follow us on Instagram and subscribe to our monthly newsletter.
