The Metaverse: Use Cases and Benefits

At the Facebook Connect event in late October, Meta, along with its new name, unveiled Metaverse tools for both developers and users. This is Project Cambria Headset, Presence Platform, Artificial Intelligence Toolkit for Developers. With their help, it will be possible to create objects of virtual and augmented reality, as well as program their interaction with the “player”. And these objects can be seen in the Horizon Home virtual home or the Horizon Workrooms virtual workplace.

However, while all of these technologies offer many possibilities, how can businesses, across industries, take advantage of the metaverse? 

Use the Metaverse to Unlock New Marketing Opportunities 

The metaverse is a virtual world in which users, represented by an avatar, can shop, socialize, take part in leisure activities and learn. Believe it or not, there are some wonderful marketing opportunities inside these virtual worlds and we are already seeing many brands taking advantage of these opportunities. Anzu, for instance, places ads that track viewability in real-time within gaming environments across mobile, console, and now recently Roblox for brands like WarnerMedia and Paramount+. The ads mimic real life and blend into gameplay —so billboard ads or branded clothing appears in-game just as it would in real life. These can be bought programmatically or dynamically in Roblox at CPMs ranging from $6 to $12 across platforms.

You can also get creative and unlock marketing opportunities in the many games inside the metaverse. One of the most interesting and creative examples is what the fast-food chain Wendy’s sent a character resembling the brand’s mascot into Fornite to ‘kill’ all the freezers in the game’s Food Fight mode, after noticing that the Durr Burger restaurant in the game stored its virtual beef in freezers. The brand saw this as an opportunity to advertise its “fresh, never frozen beef”—a stunt that grew social media mentions of the brand by 119% and picked up several awards, including eight Cannes Lions.

There are many advertising possibilities inside the metaverse, and 3D development companies can help you make the most of these opportunities. 

Virtual Office Space

Throughout the pandemic, we have become accustomed to Zoom, Skype, Microsoft Teams, and other communication tools to provide us with virtual communication. However, the metaverse can take this to the next level by providing participants with a virtual office space that will make it feel like everybody is in the same room together. We are already seeing companies like Virtuworx create an avatar-based hybrid of virtual reality and mixed reality environments that turn remote work into a meaningful and productive experience by offering a fully customizable solution for virtual training, offices, events, trade shows, and conferences.

Instead of staring at a screen all day, participants get to explore and engage in a number of ways. Initial use cases of the platform focused on recreating the physical spaces they were replacing. Over time, however, creative concepts powered by gamification and data from the initial use cases have led to the creation of environments that are richer and more complex, and anyone with an internet connection can access the platform.

Virtual reality developers can create a customized virtual workspace that will best suit your employees and the company management. 

Take a Virtual Tour Around the World

Luckily, technology today has allowed us to experience travel without having to be there physically, and what makes the experience different between being there in person and seeing them on video is the first-person experience. This is where the metaverse, Augmented Reality(AR) and Virtual Reality(VR), come into the picture. An immersive world with realistic content will enhance the audience’s imagination and allow them to enjoy the location through an amazing first-person experience, like being there in the first place.

VR tourism is a new frontier that is yet to be adopted into the mainstream. Youtube and other major content hosting services are growing their repositories of 360° video content. However, unlike conventional travel, which is typically associated with freedom, current video content only allows you to view what has been recorded for you to see.

In addition to seeing various world sites, you can also try things like a Disney world virtual tour. This will be a theme park metaverse with connected park experiences that transcend the physical and digital barriers and unlock new storytelling layers. Disney did this by launching #DisneyMagicMoments, developing content to engage with fans across the blog, social media, and My Disney Experience app. 

Create a Virtual Learning Space at Home

It goes without saying that the Covid-19 pandemic has taken a heavy toll on all levels of the education sector. This has forced K-12 and university students to learn remotely, which comes with many challenges. While platforms like Zoom allow students to interact with teachers, professors, and each other, there is still a barrier that cannot be overcome with such technologies. The metaverse promises a joined-up online experience, in which a single avatar can move between spaces – such as from a lecture hall to a science laboratory. 

Universities use online worlds such as Second Life and even the block-building game Minecraft. They can enhance lectures or allow distance learners to visit a campus virtually. Virtual reality simulations help students in medicine or architecture practice skills that are difficult to rehearse in real life. The metaverse will allow students to have an increasingly “cyber-physical” university experience, where the virtual world merges with the real one. Many students have already experienced something similar. During the pandemic, learning has shifted between online and in person.

What are Some Challenges for Creating Metaverses? 

While the metaverse offers many benefits to companies across many industries, there are still some challenges that need to be overcome: 

• Reputation and Identity – The question of personal identification and representation is fairly straightforward when it comes to the real world. But when speaking of virtual environments, or the Metaverse, one might wonder, what will really be the elements that make up one’s identity. And most importantly how to even prove that you are who you are, instead of another person or even bot trying to mimic your existence.
• Data Security – Even though companies and organizations keep revolutionizing their IT security systems, data privacy and security has been a long-running concern for users of any online environment. Submerging into the Metaverse will require evolving security traverse methods to a completely new level, being on par with the ever so expanding space of the Metaverse. 
• Currency and Payment Systems – Regardless of the currency and marketplace format, when it comes to transactions, it will be especially essential to develop a unique new transaction verification system. The challenge will lie in convincing users that they can rely on and most important feel safe while engaging in any trade within the Metaverse.
• Legal Questions – Metaverse is bound to bring large numbers of users together, making it a place of great opportunity to connect and exchange, however at the same time making users vulnerable in case there are no laws that regulate the boundaries. It will be a true challenge to identify jurisdiction as well as set legislations that can ensure the virtual space is safe and secure for its users.

While these are all pressing issues, you can expect metaverse companies to find a solution to these problems as the technology matures and develops. 

Trust Skywell Software to Help You Navigate Your Way Through the Metaverse

If your company would like to create a metaverse and reap all of the benefits it offers, you will need to partner with an experienced AR and VR development company to make sure that the end product meets your expectations. Skywell Software has the skills and experience already on staff to create even the most imaginative and complex metaverses. Contact us today to learn more about how we can help you.