Brief: The Corporate Hitchhiker’s Guide to the Metaverse
Most of us have not got the full notion of the Metaverse. This summary will help you explore this term from many aspects excerpted from the article “The Corporate Hitchhiker’s Guide to the Metaverse” of BCG.
3 Pillars Of Metaverse:
The metaverse is the result of multiple advancements coming together, all of which involve significant advances in technology:
- Thanks to the incredible computer power and widespread availability of smartphones, tablets, and PCs as well as advancements in cloud services and connection, metaverse worlds, or “m-worlds,” are gaining hundreds of millions of active users.
- With affordable and simple-to-use devices like the Meta Quest 2, the consumer market for augmented, virtual, and mixed reality (AR, VR, and MR) headsets is expanding quickly.
- As things to acquire and exchange, virtual assets are driven by a cutting-edge Web3 technology stack is becoming more and more common.
Why the Metaverse? Why Now?
The metaverse, according to enthusiasts, is the internet’s next evolution: a virtual, interconnected reality that is seamlessly woven into the actual world. The claim is that actual and virtual social, consumer, and corporate experiences will merge as a result of AR and VR.
In fact, a large portion of the value of the metaverse may ultimately reside in business applications rather than consumer ones, such as virtual meetings and training sessions, the ability to design new products, or the capacity to allow customers to experience a home or vehicle virtually before purchasing a real one.
Divergent opinions are not uncommon when new technology and corporate, financial, and commerce models are quickly emerging and challenging accepted assumptions. But the metaverse is finally beginning to take shape.
Step into the Metaverse
Companies in a variety of industries have a wide range of economic opportunities thanks to the emerging metaverse industry.
By supplying technological enablers like 5G, next-generation Wi-Fi or broadband networks, new operating systems, app stores, and platforms to encourage more content creation, technology, media, and telecom businesses would immediately gain.
In businesses ranging from health care to industrial goods, AR and VR tools are currently being researched and employed. There are several reasons for consumers to enter the metaverse that go far beyond games.
How to Begin
Companies might begin by educating their staff on the possible effects of the metaverse. An evaluation of how the business might be impacted favorably or unfavorably by the convergence of the three developments mentioned above — the rise of m-worlds; advancements in AR, VR, and MR; and the rising use of Web3 assets made possible by blockchain — is a useful tool. Following that, businesses can select from the metaverse flywheel’s prospective use cases and emphasize areas for their own initiatives.
It is important to keep in mind that the creation of new applications and use cases usually picks up speed as technology advances. Consider the recent development of the internet, mobile connectivity, or social media. The metaverse and the technology advancing it are still in their infancy. However, full maturity and adolescence can be just a few years away.
Reference: https://www.bcg.com/publications/2022/a-corporate-guide-to-enter-the-metaverse-explained
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