The Covid-19 Pandemic has accelerated the growth of the digital sphere. It was a rocky start (you’re on mute!), but with time, the world started to adapt to this new norm. Back in October of 2021, Mark Zuckerberg introduced Facebook’s rebrand, Meta. Meta’s focus will be to bring the Metaverse to life and connect people and communities, and grow businesses. Since that rebrand, more and more people are discovering what the Metaverse is all about.
The idea of the three-dimensional Metaverse might come as a shock to many people but organizations have already started to look into components of the Metaverse such as the use of Virtual Reality (VR), Cloud Computing, and Non-Fungible Tokens (NFTs). With virtual communication becoming the new norm, being aware of how the Metaverse can improve communication with your audience and can ensure that your organization doesn’t fall behind or miss out.
Here Are 3 Areas We Believe That The Metaverse Can Improve
The Pandemic has forced the majority of educational institutions to transition to E-learning and other digital communication methods. But that came with challenges. Interaction and communication can be difficult to maintain with online learning. As the Metaverse evolves, businesses can leverage the advances in technology to improve the quality of the learning experience and to make online learning more accessible for everyone.
The Metaverse has the ability to bring education to life, with educators across all industries having the capacity to build virtual classrooms – whether that’s to create a colorful classroom for 2nd graders or replicate a military training situation. This allows for a more interactive learning experience and a sense of realism.
Enhanced Customer Experiences
As the Metaverse evolves, businesses now have the opportunity to connect with customers, deliver new experiences, and provide information in new exciting ways. The use of Augmented Reality (AR) and Virtual Reality (VR) within the Metaverse can be extremely beneficial to the user. By wearing a VR headset, a user can fully immerse themselves in the virtual world. For example, David Attenborough’s fully immersive virtual reality experience is allowing customers to see long-extinct animals brought to life.
A study done by Microsoft found the average human’s attention span dropped from 12 seconds in 2000 to 8 seconds in 2013. 8 seconds is not a lot of time to grab someone’s attention, but the Metaverse gives users the ability to create fully customizable avatars. These avatars allow users to interact with realistic objects in the virtual world, keeping the user engaged.
Zoom has become a part of most workers’ daily lives since the pandemic, but as the Metaverse improves, companies such as Meta are looking to take virtual meetings to the next level.
Bill Gates wrote in his blog “Within the next two or three years, I predict most virtual meetings will move from 2D camera image grids … to the Metaverse, a 3D space with digital avatars. The idea is that you will eventually use your avatar to meet with people in a virtual space that replicates the feeling of being in an actual room with them.”
It looks like some companies, like Airbnb, have already prepared for this move. This year Airbnb’s CEO Brian Chesky announced their fully remote model, allowing employees to live and work anywhere in the world. Airbnb is one of the first companies to change to a fully remote work model and adapting to the 3D dimensional world seems very likely for Airbnb in the future.
As of October 2021, the total market capitalization of Web 2.0 Metaverse companies was 14.8 trillion U.S. dollars. This means there’s a lot of money out there for whoever can capitalize on it first.
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