Currently, we are all living two lives: real and virtual. The former deals with how we interact and move in reality, and the latter is the online world, which starts in the morning, from checking notifications and emails on our smartphones to scrolling through our Instagram feed and watching our favourite shows on Netflix at night. With the resurgence of the Metaverse, which is being touted as WEB 3.0 or the evolution of WEB 2.0, we are going to see ourselves living in a much more immersive world, which will allow us to scale the limitations of the real world and construct a life-like environment in a 3D space. But how do we enter into this new territory? In this blog, we will be discussing how to access the Metaverse? What is the Metaverse? The challenges of the metaverse and much more.
Table of Content
- What is the Metaverse?
- How do I access the Metaverse?
- Metaverse platforms
- Which platform is best for me?
- What are some companies doing in the Metaverse?
- Challenges of the metaverse?
What is the Metaverse?
The Metaverse doesn’t have a single meaning when it comes to the definition. Some believe we are already living in the Metaverse since we have been interacting with digital tools to connect and work.
However, others opine that the Metaverse is an evolution from a 2D experience to a 3D world represented by digital avatars who can manoeuvre and teleport from one place to another in a matter of seconds, interact and manipulate digital objects, and construct virtual offices or living rooms.
How do I access the Metaverse?
There isn’t one metaverse but many metaverses where people, from gamers to business professionals, can enter and create their own virtual spaces.
From centralized platforms like Facebook’s Horizon and Microsoft’s Mesh to decentralized platforms like Decentraland and Sandbox, people can select which platform is best suited for them as per their needs and requirements. We will talk about how the above platforms differ from each other, but first, let’s quickly understand the centralized and decentralized metaverses.
|One Single Entity governing the virtual network||Community controls the platform|
|Can’t buy land and monetize the virtual world||Can buy and sell multiple lands|
|Example: Facebook Horizon||Example: Decentraland and Sandbox|
How to acess the Metaverse – Top 4 Metaverse platforms
Simon Skaria, leader of products for Microsoft’s Mesh, defines Mesh as a mixed reality platform that bridges the real and virtual worlds and allows the participants to transcend the traditional boundaries of physical space.
One of the best things about Mesh is that it allows you to interact with others as photorealistic representations of themselves in mixed reality.
Microsoft Mesh can be used across various industries, from education to engineering to interior design and automotive.
Meta’s Horizon World
With more than 10,000 separate worlds and 300,000 monthly users, Meta’s Horizon World is a social VR platform that allows users to navigate the virtual worlds, invite their friends, and play games with them.
In order to be frontrunners in the Metaverse space, Meta has been keeping developers and audiences engaged through community competitions, accelerator programs, and funding for developers.
Meta announced a business-focused VR platform last year that allows companies to not only conduct virtual meetings with clients but also use them for employee training, on-boarding, and teambuilding experiences.
Decentraland is a virtual world built on the Ethereum Blockchain that consists of more than 90,000+ parcels of digital land available for people to buy and sell using Ether or MANA.
What’s really interesting is that land bought in Decentraland can be used to create different environments, from training scenarios to private workspaces or offices.
The virtual lands owned by players/users are completely secured with the help of a blockchain network.
Sandbox is a decentralized gaming platform that consists of three integrated products that together provide an immersive and engaging experience to its users.
From Voxedit to Marketplace to Game Maker, the combined products allow users to secure their ownership using blockchain and smart contracts.
The Sandbox uses SAND for all transactions taking place within its virtual environment.
Which platform is best for me?
One thing is clear, the Metaverse is not a single entity but a combination of different entities providing multiple options for people to choose from. But how do you decide which option is good for you or for your business?
Well, that completely depends on your needs and requirements. For a startup or small-medium enterprise, a workplace-based metaverse is an ideal environment to start with. From showcasing products or services to conducting brainstorming sessions, free collaboration platforms like Horizon World can be looked into in order to join the metaverse.
However, if you are looking for a customised virtual environment, then GameIn can help you build one. From training to virtual tours to virtual reality games, we have designed it all for our stakeholders.
If you want to experience the Metaverse and also look forward to buying virtual land as an investment, then decentralised platforms such as Sandbox or Decentraland could be well suited.
What companies are doing in the Metaverse?
From brands to startups, everyone is exploring the potential of the Metaverse from training to onboarding, gaming to events. Here are a couple of companies using the metaverse for various activities.
The global lifestyle brand has said that it has signed a deal in the Fashion District of Decentraland. The company has also filed a trademark to sell virtual goods such as footwear and apparel.
According to the website, Airwaymag.com Boeing is planning to create its next aircraft using AR/VR technology. Using immersive technologies, Boeing wants its engineers to learn the craft of designing virtual 3D models and collaborate with one another in the virtual environment.
HPE Financial Services
According to the Harvard Business Review, senior executives at HPE Financial Services used VR training modules to find out the level of expertise of their sales representatives and give them constructive feedback.
Recently, Heineken launched an ironic campaign aimed at itself and other brands venturing into the Metaverse. The beer company created a virtual beer NFT titled ‘Heineken Silver” with virtual values instead of nutritional value. The NFT exists in a virtual brewery in Decentraland. It can also be viewed using Snapchat’s AR filter.
What to do in the Metaverse?
In the Metaverse, you can go from buying properties to playing games and interacting with people from around the world.
Buy a virtual land
Consumers or enterprises can buy virtual property in the form of NFT. Once the land is bought, people can start adding virtual objects to it and invite their friends, colleagues, or potential clients. You also have the option to rent it out or add someone else’s advertisement to it in order to generate revenue.
If you don’t want to buy virtual lands, you can opt for Metaverse tokens. Each Metaverse has its own token. For example, Decentraland has MANA and Sandbox has SAND. These tokens allow you to buy virtual objects inside the Metaverse or you can just buy them as stock and sell it at a higher price.
Creating virtual content
Decentraland, Sandbox, AxieInfinity – all of these Metaverses are an entry point for people looking forward to exploring the Metaverse. But you can also create your own personalised metaverse where you can train your employees’ soft skills or technical skills, conduct brainstorming sessions, or create a virtual lab to display your services to your clients. If you are looking for any of the solutions above, reach out to us at email@example.com for a free consultation.
Challenges of the Metaverse
Interoperability: As mentioned earlier in the article, the Metaverse is viewed as a single entity. However, what we are seeing is exactly the opposite. Instead of one metaverse, we have multiple metaverses. The companies working in the Metaverse need to come up with a universal standard to regulate monopolistic behaviour.
Privacy: Phishing attacks are becoming an increasingly alarming issue. From emails to text messages, hackers sometimes encourage people to update their master password. This way, they can hack into people’s crypto wallets and drain the money. It is therefore imperative for companies working in the Metaverse to continuously increase awareness amongst their stakeholders.
The Metaverse is an exciting concept. However, entering into a new territory can be overwhelming. In order to step into the Metaverse, it would be great to start exploring new technologies like VR and AR to get an understanding of the various layers of the Metaverse.