The meta verse will have social and economic systems in place, where user avatars can much enjoy a wide range of immersed content. Unlike a video game, they overall experience doesn’t pause or end. One of the most remarkable aspects of this new virtual world is its unprecedented interoperability. Imagine purchasing a Roblox skin and then using it in Fortnite or other online games effortlessly. 

Metaverse and its Possibilities

The possibilities associated with the metaverse’s emergence for the new internet are the final component that may enhance your feeling of its impending advent. There are many ways to connect with the metaverse will have a huge effect on how it evolves in the coming era. We have mentioned some main potential for the value enhancement that could link the metaverse across a variety of sectors.

• The metaverse provides up a whole new world of completely imaginative, unique and different marketing chances.
• Many Metaverse technologies such as Microsoft Mesh may enable the formation of 100 percent customized virtual workplaces in near future.
• The next intriguing metaverse use for the gain popularity is virtual tourism. Application for both AR, VR technologies may aid in the formation of realistic worlds in which users can interact with authentic material.
• Remote learning is becoming increasingly popular and the future of metaverse may provide great potential for developing possibilities for the discipline. Universities have begun to employ virtually abled worlds such as Minecraft and Second Life for convocations. Simultaneously, virtual reality simulations may aid students all around the world in improving of their learning experiences.

1. It could be the next internet

The three-dimensional (3D) VR metaverse, there is another similar concept that’s gaining traction: Web 3.0. Leslie Shannon, Nokia’s Head of Trend Scouting, mentioned  this VRARA Global Summit talk, speaking about the importance for the metaverse or spatial internet.

Meanwhile, Deloitte already has a framework in place for the spatial web or Web 3.0, similar concepts closely linked to the metaverse. In further, Mark Zuckerberg referred to the metaverse as an embodied internet in his Founder’s Letter announcing Facebook’s rebrand.

Metaverse could be the next major online destination where global users congregate, buy, engage, sell, play, and work. It will start out as an alternative to social media and eventually come to encompass the World Wide Web as know it.

2. Work & collaboration will consistently move into the metaverse

In 2020, VR adoption for collaboration, work, learning and education has increased. Companies including Spatial that provide a VR alternative to Zoom saw a 1000 percent uptick in usage in this period and Facebook came out with its own offering called Oculus for the Business.

In currently, about 2 in 5 respondents said that they are very excited for AR/VR-enabled learning in the workplace. And, Zoom fatigue sets in; the metaverse could be a compelling alternative for several. As companies recalibrate around employee expectations or requirements during the new normal, VR will be most important enabler. It will help workers transition to hybrid work and ensure that remote employees enjoy the same degree of engagement and access of their in-office counterparts.

3. The metaverse has legal or regulatory implications

Such as tech giants now dominate the global conversation around the user privacy, data rights or regulations, cybercrime, the metaverse could be the next minefield.

In recently, early WIPs of the metaverse suggest for the multiple risks while also being extremely exciting. NFT fraud is much more real possibility, land rights in the metaverse could be in question and avatars and extension of your real identity open up challenging questions.

Today, you aren’t a Facebook and Twitter user’s, it is difficult to avoid concerns around data privacy and misinformation. The same will be true for the metaverse in some few years down the line. That’s why organizations, advocacy groups, regulatory bodies, and individual users need to consider this as a “big deal” to pre-empt similar and much more complex repercussions later down the line.

4. Interoperability-leapfrog away from a true metaverse

The most common argument for why the metaverse may not be such a big deal is that it is many years and even decades away. In recently, in US survey, one-third of respondents said that they have never heard of the metaverse and only 36% were interested in participation.

Given that Meta took 8 years to go from 1 million to 1 billion users, they can expect for the first iteration of the company’s metaverse to be available sometime in 2023. That is only about two years away, and all the foundational infrastructure is already in place in the form of a sophisticated global blockchain network, scalable Artificial Intelligence, ergonomic VR design, or last-mile internet connectivity in most parts of the world.

 5. There are exciting investment opportunities to be had.

The metaverse will very inspire for the bustling new economy at every level. For content creators and VR developers, that means another source of monetisation.

The crypto-based economy would also allow fairer incentivisation of content and regular royalties. The venture capitalists are also eager to get in on the early action in the metaverse market and invest in promising startups. These startups could be your new Facebook, and early investors could shape progress for many years to come. Once the metaverse is executed, there will be new opportunities through advertising, e-commerce, and digital events, and other many.

In previously, let’s not forget the job creation potential of the metaverse. Facebook announced that it would create up to 10000 new job openings in Europe alone to build its vision for the metaverse. Since 2021 October, Nike has started hiring for the virtual material designers for its own “Nikeland” and there were 270 active vacancies mentioning the metaverse.