Will the companies of tomorrow have to invest in the metaverse?

The metaverse will bring a new wave of usability improvements that will change the way we interact with the Internet.

Looking at what the big players are doing, it’s easy to see the Metaverse (or Metaverse) as a huge opportunity for brands. Moreover, Facebook changed the name of the company in honor of the new trend. The Microsoft CEO acknowledged that the latest and largest acquisition (game maker Activision Blizzard for $68.7 billion) was a side bet in gaming, but it was also a bigger step into the Metaverse and the next Internet.

The history of these two companies shows something: they have been slow to adapt to new technologies. And now they don’t seem to want to miss the next development. Microsoft initially underestimated the Internet and had to manage an expensive (and very successful) transformation. Facebook was also very slow to capture the mobile internet and had to acquire emerging competitors like WhatsApp and Instagram who threatened to bypass the social network with their mobile apps.

Facebook is also looking for a new growth story as its core business enters a maturity level (user acquisition and use of social networks are leveled). It seems that both companies have learned lessons, and you don’t think we should miss the opportunity in this particular development of the Internet.

The list of companies offering flavor to the metaverse is growing. Google is working on an updated version of the Metaverse for its interactive glasses. Epic Games has raised $1 billion to support its internal development of Metaverse.

That may not be the case today, but your daily life will likely be different in a few years due to the metaverse. The metaverse may change the way you do online marketing. But what?

What is metaverse?

Metaverse is a virtual digital world where interconnected platforms replicate and enhance real-life experiences or create new digital and hybrid services.

For those who are scratching their heads, at first there was Web 1.0 (web browsers with images, colors, sound and eventually video), then Web 2.0 or the social component of the Web (social networks, for example), and now Web 3.0 is emerging as a new form, in which Artificial intelligence and Blockchain can do without the middleman and make information and services more easily, more private, and possibly more secure.

Metaverse fits here because it will be contemporary to Web 3.0, it refers to the user experience rather than a larger role in society or technology.

Imagine moving from the 2D experience of a web browser screen to a virtual 3D world where people, businesses, and services can create a new presence or identity. You, or technically your “avatar,” will move through the various stores, offices, theaters, and hangouts of the metaverse. The avatar will be able to talk to others, listen to concerts, buy items, organize meetings and work, all without having to be physically anywhere in particular. Many are now available as virtual services without a new 3D interface (web conferencing, video channels, e-commerce site).

It’s also worth noting that many of these 3D worlds already exist as games: Second Life, Minecraft, and Roblox are good examples of virtual games turned into virtual worlds.

How do you navigate this new world? Perhaps through voice assistants (instead of URLs) and using virtual reality headsets or augmented reality interfaces (which will cover virtual objects on a smartphone screen pointing to your vicinity).

In the future, instead of VR headsets, people may see 3D images in front of them, and thanks to Web 3.0, blockchain and AI aids will make browsing easier. Yes, it sounds like an episode of Star Trek, but a lot of the technology we use today could fit perfectly into the original TV series.

When is the Metaverse coming?

We don’t have a Metaverse Line yet, but several companies seem to love its potential and are happy to join. Many brands have already made the leap. However, before making a hasty step, we suggest that you take a moment to think. Creating a new Internet experience is an important step: it allows us to look back and see what needs to be modified or improved. There is a lot to improve the customer experience today before we all start using holograms.

Today, cyberspace is a great tool, but it has significant drawbacks. Customers and businesses do not have a “real” identity on the Internet. Taking into account the history of fraud and digital crime, society must treat identity not as an afterthought, but as a major issue. It is time to make decisions that will have a positive impact on the lives and safety of many people, including the vulnerable and the minors.

Navigating the metaverse today is a traditional experience. To enter Nike’s ‘Metaverse’ experience in Roblox, you need to download the Roblox app, search for Nike (by typing), and then click on a 2D image of Nike displayed in the results. After that you can play the basketball game against other real players. There is still a lot of old school web/app interactions in the early Metaverse trials. New paradigms and interface styles are needed to deliver a new experience. Otherwise, the metaverse will die after a short life loaded with tools.

Payments was not designed for the web, and while credit cards are now commonly used, it’s another afterthought with shortcomings. The concept of Web 3.0 often includes a reference to “cryptocurrency” or, more simply, digital currencies. In fact, most metaverse platforms have built their own blockchain currency into their system. There is still work to be done there to clarify legal compliance and security for most of them. Facebook’s multiple attempts to create a global digital currency (Libra/Diem) have been crushed by local and global regulations. It takes more than a blockchain solution to create a digital currency: the legal framework for an actual digital currency does not yet exist.

Conclusion

So, is the future really here? no. But that’s what makes the whole topic of metaverses so interesting. A new wave of usability improvements is coming that will change the way we interact with the Internet. These sites may not replace the web as we know it, but they will complement and expand it. We have time to understand, plan, test, and deliver a new experience.

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