One of the most defining features of the metaverse is that it allows people to interact with digital content in more natural and intuitive ways. This type of interaction could make games come to life, concerts and plays seem more authentic, or professional or educational meetings feel more interactive.
Constant technological improvements, especially in computing power for large-data processes like graphics rendering and 5G technology that can deliver data in seconds rather than hours, are enabling these immersive virtual worlds to become more realistic. Meanwhile, production costs for VR and AR hardware are falling rapidly, and new devices including haptic gloves and bodysuits are emerging to enhance immersion. The result is that more and more people will have the opportunity to experience the metaverse, and companies of all sizes are investing heavily to do so.
The metaverse also has the potential to foster social interactions and create economic opportunities. People can connect with others across the globe in a shared virtual environment, creating communities based on their interests and sharing resources in a way that is more dynamic than traditional online forums. In addition, the metaverse opens up a range of entrepreneurial prospects and innovations, such as the creation and trade of virtual goods and services.
Companies that want to leverage the metaverse should start with an understanding of what it can offer. This is especially important for marketing and branding, where the metaverse can help to elevate brand awareness and improve engagement. A no-regrets move for marketers is to tap into people at their company who draw for a living, as these are the individuals who can help to develop and test metaverse capabilities that can be used to engage with customers or employees.
