Understand the Metaverse: 4 Metaverse Application Example
The word “Metaverse” has gained more popularity for quite some time. Along with the CEO of Facebook Mark Zuckerberg changing the social media to “Meta”, the idea of Metaverse seems to be more visible to the public. The term and the concept behind it are not completely new, and it has in truth existed for a few decades. Metaverse starts as a virtual world described in a 1992 novel written by Neal Stephenson, but it then is widely implemented in the modern world. There are different Metaverse applications nowadays. Metaverse applications do not only appear as the virtual world in online games but also provide the digital environment in economic prospects. More companies are improving their business towards the digital universe and the metaverse.
In this article, we will show you more metaverse applications and examples, of how companies are adopting this concept in different fields.
Read More: Metaverse Beginner’s Guide: What is it and how does it work?
The Metaverse in Games
Games are probably the most mentioned application of metaverse. There is a wide range of games exemplifying what the virtual world in the metaverse might look like. In general, this kind of game allows players to build up their virtual universes. Players get to establish their desired virtual world in the game, create customized avatars characters (virtual 3D representation of players) and use them to interact with other online players. Metaverse in games has existed for long and is still trendy among players. For example, in the online world Second Life, players create their digital avatars and explore the virtual world. They can also trade goods and services within the game using the currency in the world. Facebook has also released a virtual reality metaverse called Facebook Horizon.
Apart from virtual trading in games, there are as well other components existing in the metaverse. For example, the video game Fortnite has become a virtual venue for concerts, featuring artists like Travis Scott, Marshmello, and Ariana Grande.
Technology in Metaverse
The technology applied in metaverse commonly includes Virtual Reality (VR) and Augmented Reality (AR). This kind of mature technology is the crucial component in providing a good user experience and a better virtual world environment. Apart from the VR environment combined with metaverse mentioned earlier, AR is another technology real-world element with overlaid digital augmentations, where you can see the real world, as well as the combined virtual components. One mostly known AR application is Pokémon Go. When players turn on the camera, the Pokémon will appear on the monitor, alongside the real world. In some furniture selling websites, customers can activate the AR feature to see whether the furniture fits in the house, or some accessories selling websites allow customers to apply their products to the picture of the body part.
Metaverse On Virtual Economy
In the virtual economy, companies can do their market research through the metaverse. They can research the customers’ preferences and responses to the products in the metaverse, which can be contrasting to the responses collected in the real world. Some companies also provide virtual assistants or robots which can be helpful with increasing the shopping experience. For example, the Chinese tech giant Baidu introduced a metaverse of virtual humans in 2021 for providing AI services through the metaverse.
Metaverse Application in Real Estate
There are also applications in real estate trading in the metaverse. Like in the real world, people can buy and sell real estate in the metaverse through digital portals using cryptocurrency. In these few years, virtual real estate has become one of the well-liked digital assets that can be sold for millions of dollars. One example of selling virtual real estate is one in Decentraland, a 3D virtual world browser-based platform. A patch of the virtual property was sold for $2.4 million worth of cryptocurrency, and a plot of virtual land in The Sandbox fetched a hefty price of $4.3 million. Therefore, this application of Metaverse allows people to gain fortune by trading virtual land.
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