Since Facebook was renamed as metaverse, it started to catch market awareness. Whether it is the right move or not is another matter. As we are here to talk purely what is meant as Metaverse technology. Metaverse technology typically has three elements (at the time being), a virtual reality (VR) interface, digital ownership, and avatars. In the industry it is agreed that, in the catch all terms, the metaverse (technology) is understood as a graphically rich virtual space, where people can work, play, shop, socialize together in real life (in the virtual internet). The topic for the post focuses on the full potential of metaverse you can learn from the current gaming industry, because it is more easy to use and provides insight for metaverse (technology).
Former Facebook now Metaverse intent heavy invest in this, due to it possess huge social network customer based it can tap with, convert them into the virtual space, and since everything is virtual object and all create by the company who create the virtual space or “world”, it can sell you everything we human may want, whether for a unique one of it kind virtual dress or object to show off, almost virtually everything is possible.
The potential of it, you saw how the gaming industry is doing right now you will know the potential of it, release special of its kind object to be sold in the virtual gaming or use. And some people will buy it, either due to making the gaming more easier to compete with other human players that are playing as free players, which practically becomes a gaming object in the eye for the player who paid for the subscription or buy a lot of virtual object and rights to act almost god mode alike in the game. But it is always someone who is willing to buy and exchange money for it. If I can extend it into other non gaming worlds there will be huge potential.
A well known fact, the whole is moving toward mobile gaming, its market potential is larger than traditional gaming consoles plus the desktop gaming market together, and it does not have the sign for slow down. As you can expect, the smartphone is more of augmented reality (AR), not virtual reality (VR). For those who wear virtual reality (VR) will know the practical issue, it fixed point solution you can not wear it for long, compare with smartphone that you carry whole day, it provide more benefits, this is why the market is has lot of believer the future is toward augmented reality (AR), where virtual reality (VR) may stay for gaming and other specific application, but not like augmented reality can use in the retail to pop up lot of information to enrich the experience for ordinary people. Metaverse technology will continue to change, as certain technologies reach mass acceptance and be the de facto standard. Everyone knows the potential of metaverse technology to create virtual space and world, for those who invent it, so it is hard to be a monopoly eventually, as when it comes, for sure the governance force will kick in.
The recent Metaverse stock market crash reflects its decline in getting more new users, and decline in the advertisement revenue due to more privacy control technology and regulations. It is worth it to see who at the time or couple of years from now, can create a new metaverse virtual space or world that can get mass acceptance and be another Facebook success in the past.
Recently we saw Microsoft continue to acquire top gaming developers in the world, where Sony is doing so. What do you think all those big takeover cases that have happened in the past two years are for? A gaming industry revolution is beginning, where we will not see the full metaverse in the near future, but the gaming industry revolution did. Full potential of metaverse you can learn from the current gaming industry, from how they create virtual worlds, connect all the players online, sell them objects and exchange for real money, it is something you can learn by experiencing it right now to experience what metaverse can become.
By the way, whether virtual reality (VR) or augmented reality (AR) or next, whatever reality (XR) is one of the emerging technologies in the framework for fourth industrial revolution (4IR) Industry 4.0. Full potential of metaverse you can learn from the current gaming industry, we hope draw from current gaming industry will help readers to get more tangible experience with the subject matter of metaverse (technology).
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