Metaverse as a Potential

· Industry Update

Metaverse is a virtual reality space that was announced by Meta Platforms, formerly known as Facebook. In the Metaverse, the user can connect, interact and transfer themselves across multiple digital locations. For now, the metaverse focuses on gaming as the user can seamlessly transition from one virtual world to another as their avatar.

The potential rise of Extended Reality (XR) is a digital space that includes Augmented Reality (AR), Virtual Reality (VR) and Brain Computer Interface (BCI). It is predicted that by 2024, the AR and VR headsets will surpass the current consoles which means that the people like being in AR and VR. The more time they spend in the Metaverse, the higher the opportunity for them to view personalised ads and things that may catch their attention which make them potential leads.

If marketers and companies can leverage this technology, then they can use the Metaverse as a way to have direct contact with the customers without having to hassle anyone. Not only that, this can widen the target audience as well as increase the amount of visitors in your world. In a few years, it is said that the Metaverse is expected to manifest itself where the user can hold a variety of activities for personal or enterprise purposes.

Since the launch of the Metaverse, people have been using it to socialise with others in these trying times where we are still in caution and are bound to the Standard Operating Procedures (SOP) especially when it comes to the gathering of people. For example, Dinesh SP, 24 and his fiancee, Janaganandhini Ramaswamy, 23 who held their wedding reception in the Metaverse. The reason behind the reception is because in the real world, they were only allowed to invite 100 guests compared to the 3000 people that were able to attend in the Metaverse.

The Metaverse holds so much potential for future markets and prospects as the ideas of futuristic advertising is enticing enough for allure people into visiting the company’s brand. Imagine a virtual world where the user can visit shops and personally look at the products. The company can also persuade the customers to sign up with them. Metaverse might be the next best thing that might change the game entirely for marketer and companies as they can see their leads.