In this webinar, RSM Marketing President Scott Schaper discussed the Metaverse and what it means for your business. If you want to know more about the Metaverse, how it can benefit you, and the future of the internet, continue reading this blog.
Main Points from the Webinar:
Scott shared a lot of information in this RSM University session. His main points during the webinar covered:
- What the Metaverse is and where we are in relation to it
- Who is the driving force behind the Metaverse
- Impact discussion
- Examples of use cases
What is the Metaverse, and Where are We at In Relation to it
What most people don’t realize is the Metaverse already exists. It isn’t coming; it’s here. What does the Metaverse mean for technology?
- A revolution in computing
- An evolution of many internet technologies
- Merging physical and virtual life into one
- Virtual reality and augmented reality
Scott shared a quote from Mark Zuckerberg, CEO of Facebook: “[The Metaverse is] embodied internet…and the mobile internet successor.”
But really…what is it?
One of the easiest ways to define the Metaverse is a 3D platform for immersive experiences. The Metaverse is a platform similar to the internet; however, the internet is two-dimensional.
The internet is connected to machines, such as mobile phones, laptops, computers and even smart fridges—the Metaverse layers into expanding internet technology.
Google took years to hit its billionth user, whereas Whatsapp (a common messaging app) only took mere months for the same achievement. Previously established technology creates room for growth at a rapid rate.
Where are we in the Metaverse?
In the last fifteen years alone, we have seen tremendous growth in virtual reality. One example of this is Minecraft, the popular world-building game which allows users to craft and design a world however they would like. In addition to this is a growth of massive multiplayer online games (MMOG) and Role-playing games (RPG).
Outside of the gaming world, we have gotten a sense of virtual reality in the workplace and classroom with Zoom. The pandemic brought a great need for these digital advancements, which have become the new normal in just two short years.
Who Is Driving It?
There are a few different companies that are key players in the Metaverse. Some examples of these companies include
- Roblox
- Meta
- Xepeto
- Unity
- Epic games
- Nvidia
- Decentraland
- Microsoft
- The sandbox
All of which provide either access to the Metaverse or are influential companies in the virtual reality industry.
What Tech is Necessary To Access the Metaverse?
The only necessary tech to participate in the Metaverse, in addition to any tech you already have, is a headset. VR headsets allow you to see and interact with the virtual world.
Impacting Discussion of the Metaverse
When talking about the Metaverse, it’s critical to note that even though the concept is new to us, it’s a long time coming, and it will only continue to advance more in every aspect of our lives.
Throughout the pandemic, we saw telehealth skyrocket. We could see more integration of remote access to virtual reality in the future.
In the workplace, Zoom calls carried communication. We will see meetings in a full virtual reality, where you can share documents with coworkers. An Avatar version of yourself will represent you.
The classroom will be one area with tremendous growth, as children are already growing up in a virtual setting.
Use Cases: What Does This Look Like In The World Around Us?
Examples of this transition into virtual reality include the popular MMOG Fortnite. This game connects players worldwide, similar to Roblox. Something interesting about Roblox, though, is that it is dominated by young children, with 25% of its users under the age of nine years old.
Photorealism is another aspect to consider when discussing virtual reality. Many games are so realistic they look like a movie, and this advanced technology will make the Metaverse even more immersive.
Questions and Answers from the Webinar
Q: Why should my business be thinking about this, and who’s adopting this?
A: Imagine your business not having a website on the internet. Not being part of the Metaverse in the future will be similar to this. It can provide critical information to your clients. There will be ways for businesses to add this to the virtual world.
Q: How do you access the Metaverse.
A: There has to be a wireless connection with your headset, and you can use a variety of different programs to access the Metaverse. Platforms like the Sandbox or Decentraland give users access to the Metaverse.
Q: What real estate opportunities exist in the Metaverse?
A: Imagine a concert where there’s actual recognition of where someone walks. You’re covering virtual terrain in the Metaverse. You can sell that space in the Metaverse. They are sold in units of virtual measurements. You can purchase real estate in Decentraland.
Q: From a professor’s standpoint, as we develop a new curriculum for our marketing students, what skills do you think they will need to prepare for their future careers in helping brands be successful in the Metaverse
A: Brand building is brand building, whether online or offline, still applies. There will be technical expertise required in a 3D space, but overall it’s still the same soft skills.
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