Can the Metaverse change the universe beyond imagination?
In 2022, we are slowly embracing Metaverse into our lives.
But what is it exactly?
Is it hype or reality?
Let me put this by saying that you are entering into a different world that is 100% virtual.
You can play games, buy real estate assets, go shopping, have quality time with your partner or peers staying in another part of the country or abroad and so on.
Metaverse is the latest inclusion of web 3.0 creative.
It’s a virtual world where you can do anything with a person who is not in your city, town or country.
Distance living or connecting with peers from across the globe is made a virtual reality.
You need a VR goggle to put on your forehead and you are good to go for the virtual adventure.
Can you believe that you can even climb Mount Everest seated in your room virtually?
Yes, it's possible now with metaverse.
Your dreams are not mere dreams but virtual reality.
Live with it and make your life simple and easy with your loved ones.
Casestudies of Metaverse
There will be more use cases that will come in the metaverse world.
It’s still too early to predict the future of metaverse but already significant traction is there.
It’s a fear of FOMO(fear of missing out) that is prevalent for different brands to get onboarded on the metaverse bandwagon as soon as possible.
With tokens like Decentraland and Sandbox, anyone can now purchase real estate in the metaverse.
Recently a guy invested $450 million to buy a piece of virtual land next to Snoop Dogg’s.
H&M and Nike have already installed outlets in the metaverse.
There are many other apparel brands that are investing a lot of money to get a pie in the market share in Metaverse.
In web3.0, metaverse will be a very integral part of the ecosystem just like Defi, cryptocurrencies and NFTs.
Recently Mcdonald’s opened an outlet in the metaverse where visitors roaming around the virtual outlet can order food and get the order delivered at their physical doorstep.
With blockchain technology, transacting in metaverse will be seamless.
Recently, Facebook rebranded its name as Meta which was a huge market validation of this underlying tech.
There are many Indian projects already jumped on this bandwagon to create a solution-driven project on metaverse.
One of the noteworthy mentions will be Zionverse where they are leveraging gaming on the metaverse platform.
As per Google, the Gaming industry is projected to reach a value of USD 314.40 billion by 2026.
With the gaming players like Axie Infinity and many more, they will leverage the metaverse to enrich the playing experience to the next level.
Now as NFTs are also making a huge buzz in the market, they will get integrated with the gaming industry.
Players will be incentivised to buy weapons and earn reward points via NFTs which they can sell within the network and earn money which has never happened at a scale like this previously.
Already there are virtual art exhibitions where people are roaming around the exhibition in the metaverse and buying the art pieces by NFTs(Non-Fungible Tokens).
Another epic use case of the Metaverse is banks are already jumping into metaverse at a rapid pace.
Though the blockchain technology is subjected to a decentralized mechanism which is exactly opposite to the traditional banking system.
Still, banks like Morgan Stanley have opened their first metaverse branch for customers to walk in and indulge in the banking products of Morgan Stanley.
Metaverse will also impact the virtual online relationship a lot.
COVID has accelerated the work from home model and people are now afraid to go outside to mingle with their peers or friends to maintain social distancing.
Metaverse world will reduce this distance and it will empower you the experience to have a coffee date with a person from across the country and abroad too.
Colleagues can seat in a conference room and provide the presentation as if they are in a real-world which now is done via video conferencing.
Metaverse will also boost tourism a lot because you can travel anywhere from the comfort of your room without the expenses incurred due to passport, visa, hotels, dining and so on.
Your time and money both get saved here.
South Korea is one such country that is aiming at high tourism leverage through Metaverse and they are already building the system for that.
With the Indian Govt coming with CBDC(central bank digital currency), tourism will witness significant growth in terms of revenue with metaverse.
Can you imagine that marriage can happen on metaverse?
For your information, yes marriages have started taking place in virtual reality.
A couple of Tamilnadu India has already done this.
In the end, the use cases of Metaverse will multifold from here.
It’s the future of human interaction and I am really bullish on it just like the world.
Any thoughts?
Comment below.
