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Metaverse – the future of the Internet or a big hoax?

Virtual reality is becoming more and more popular. Portals are writing about its existence, and many brands are eager to cooperate with the three-dimensional world. Could the metaverse become the future of the Internet? Is it just marketing hype?

 

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What is the Metaverse?

The Metaverse is a virtual space of augmented reality that is based on the real world. We can find in it a physical dimension and a virtual one, which includes human avatars as well as a functional economy. 

The term originates from the 1992 science fiction novel Snow Crash, in which humans as avatars interact in a three-dimensional reality that uses a metaphor for the real world. 

Google Trends data shows that in Poland the greatest interest in this term occurred in October 2021. This was related to the transformation of Facebook into the Meta platform. Mark Zuckerberg mentioned his vision related to the metaverse. 

What plans does Meta have?

Mark Zuckerberg, the owner of the world's largest social network, intends to invest in a new vision of the Internet. He wants to create a new experience for his users - a digital world called the "metaverse". Meta wants to build a platform where users will be able to meet in a three-dimensional world. 

Zuckerberg wants to be a pioneer in building virtual reality. According to him, soon each of us will spend most of our time in the metaverse.

 

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Making money in the metaverse

The Metaverse has been a hot topic lately. Meta has begun testing for monetization of activities. Mark wants creators to sell virtual items and services on the Horizon Worlds platform but earn money in real life.  

A Meta spokesman announced that the company plans to charge 47.5% commission on transactions made in metaverse. The news did not please Internet users, who expressed clear indignation related to such high prices. 

 

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Microsoft steps in

When Zuckerberg's company announced its plans for the metaverse, Microsoft soon revealed that it also intends to create its solutions in virtual reality. The brand wants to focus on the future of hybrid and remote work using augmented reality, which would serve both employees and employers. One of the ideas is to be a new version of Microsoft Teams in the form of a metaverse. 

How to use Metaverse in marketing?

The virtual world gives marketers and advertisers more opportunities than ever before. Brands have been cooperating with game producers for years, because they are the ones who are making a splash all over the world. Examples of brands that have undertaken such cooperation include: Gucci, Vans or Nike. 

Balenciaga's collaboration with Epic Games was a huge success. The result was the creation of clothing and accessories inspired by the game Fortnite. The clothes were available in virtual form and in the designer's physical store. Balenciaga has created its own game, tapping into marketing trends called “Afterworld: The Age of Tomorrow.”

Automotive Industry in Metaverse

It turns out that more and more brands want to enter the virtual world. In early April, Mercedes Benz and Volkswagen began marketing campaigns related to the metaverse. 

Japanese carmakers Toyota and Nissan have also announced their entry into the metaverse. They want to offer new customer experiences by building virtual offices and creating special events where they will present their car exhibitions, all thanks to a partnership with startup VRChat. 

Ferrari is also taking a similar path. The Italian luxury carmaker has opened a special department that will explore the possibilities of combining virtual reality, games, digital services and social media. 

Practical application of VR

Virtual reality technology is developing rapidly. Its application is proven in various industries and goes far beyond gaming. It is a brilliant tool used in education. Thanks to VR technology, students can travel to any era or learn foreign languages while traveling in augmented reality. 

An interesting solution may be the use of the tool in therapy. An example is Unicorn VR World – therapy for children with Special Educational Needs. Using VR allows you to create a safe world for the child, in which they will feel good and, under the supervision of a therapist, develop their skills by playing an engaging game. 

KLM also uses VR simulators for its training. This allows cabin crew to familiarize themselves with the cockpit much earlier during the course. 

There is also an application called VirtualSpeech, which allows you to practice public speaking in a virtual room. According to the feedback from participants, this is definitely a more effective method than e-learning. 

For the purposes of the PwC report, research was created which shows that using virtual reality we are able to acquire knowledge 4 times faster than in the case of traditional teaching methods. 

What do users say about this?

GWI research conducted in 9 markets shows that more than half of the people surveyed are interested in the metaverse. It turns out that many of these people combine the virtual world with gaming. 

The most common answer among respondents is the belief that VR will influence the popularity of online games and the development of social games. Research shows that despite great interest, 2 out of 3 respondents do not understand the concept of virtual space. 

 

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Summary 

There is a lot of talk about the metaverse, and opinions on the existence of the virtual world are divided. Many people see it as the future and a technological leap, while the other side is critical of the subject. It turns out that all we can do is wait and closely observe the developing situation :)

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