Evolution in technology
Each new evolution in technology poses one key question: who will identify its value first and reap the greatest reward, and who will scramble to catch up before it’s too late?
Business leaders and boardrooms around the world are now asking themselves, “What is my metaverse strategy? What am I supposed to be doing in the metaverse? What is the metaverse anyway?”
- J.P.MORGAN
a seamless convergence of our physical and digital lives
The metaverse is a seamless convergence of our physical and digital lives, creating a unified, virtual community where we can work, play, relax, shop and socialise.
Advocates of the metaverse predict that it will be a multi-trillion-dollar digital economy, and new virtual worlds will replace the internet. Intelligent companies are placing big bets in this space. Facebook (Meta) has 20% of its entire workforce currently invested in developing VR and AR technologies.
In some ways, the seeds of the metaverse are already here. Meetings take place on Zoom; work happens in Tandem, we tweet on Twitter, game in Fortnite and shop on Amazon. Though most of these pieces are disconnected today, the metaverse is where we expect that to change.
The business implications of the metaverse are enormous.
It will enable hi-touch interactions for remote users, employees, and customers.
Activities that are currently taking place within the metaverse that present opportunities for brands:
- With immersive e-commerce, you can shop in virtual stores and malls.
- Purchasing outfits, accessories, and other items for digital avatars.
- Users interact with digital avatars in customer service, employee onboarding, sales, and service.
- Social interaction through virtual events and experiences.
- Development of virtual homes and purchase of digital real estate and workspaces.
