Metaverse today and tomorrow
Today, the Metaverse today is still quite young with teething troubles and new technologies that need to be developed. The actual design and implementation of the Metaverse will continue to evolve just as the Internet did beyond its original vision of Sir Tim Berners-Lee.
Web 1.0 which lasted from 1991 to the early 2000s was mostly static, but early adopters made significant gains in establishing their Digital identities. Similarly, there are already established components like Augmented Reality and Virtual Reality, as well as newer platforms like content, crypto trading, and NFT platforms, that can be used right away in both the business and consumer worlds.
|Manufacturing||Microsoft teamed up with a UK-based consortium to train 3,500 factory workers on making life-saving ventilators. The effort leveraged one hundred Microsoft HoloLens 2 devices and mixed reality to create an “augmented reality” factory.||It may soon be a thing of the past for people to work with dangerous machinery in dangerous environments. AR headsets aid in the development of new products by allowing users to see them in 3D before they are manufactured.|
|Banking||Several Korean banks including The Industrial Bank of Korea and KB Kookmin Bank are actively developing with partners and racing to open a virtual branch office in the metaverse||A virtual bank in the Metaverse staffed by branch manager avatars is not too far from reality.|
|Healthcare||Clinicians at Duke University utilized HoloLens to superimpose a rebuilt CT image on a patient’s head instead of using regular CT scans and markers to assist with hundreds of complex brain surgery procedures.||Doctors without borders. Microsoft HoloLens has already helped hundreds of difficult medical surgeries. Doctors may be able to perform these complex procedures remotely if they have access to high-quality, always-on connectivity.|
|Gaming & Entertainment||Disney has launched the “Theme Park Metaverse” and has been granted a patent for a “virtual-world simulator in a real-world venue”. Roblox & Epic games have each successfully staged and sold live virtual performances utilizing independent digital money during pandemic lockdowns.||Virtual vacations? No need to be physically present in Florida to enjoy Disney World.Virtual roller coasters and rides; perhaps even a virtual waiting line for a more authentic experience?|
|Architecture & Design||Autodesk is investigating its 3D design skills for AR and VR metaverse applications. Nvidia is working on Nvidia Omniverse, a 3D virtual metaverse for architectural design and collaboration tools.||Hopefully, our virtual offices will be better looking than the physical ones.|
|Offices Collaboration||For immersive conferencing, Microsoft is creating mixed reality spectacles called HoloLens that combine collaboration tools and Xbox game features. By using AR and smart glasses to boost mobility and multi-device accessibility, users may participate in immersive 3D avatar-led meetings.||Immersive board room experience while sitting in your basement. Collaborate and create in real-time with colleagues across the globe in front of virtual whiteboards, attend virtual face-to-face meetings, maintain eye contact and observe subtle facial cues.|
|Event Management||In April 2020, Travis Scott performed for almost 30 million people in the computer game FortniteMicrosoft’s AltspaceVR allows real musical performances to be live broadcast as a hologram onto a virtual stage. Chennai-based Dinesh and Janaganandhini Ramaswamy hosted their Hogwarts-themed wedding reception in the Metaverse.||Weddings in the Metaverse will become more mainstream. Conferences and trade shows will only be limited by imagination and not your ability to travel. Tradition meets technology. Visualize virtual Kancheepurams and Digital Mysore Silks. NFTs suddenly makes a lot of sense, doesn’t it?|
|Real Estate||Through its 3D virtual office environment on Virbela, eXp Realty offers 24/7 access to collaboration tools, training, and socializing for over 30,000 real estate brokers and agents. In November 2021, a property near the “Fashion Street District” was sold for $2,410,200.00 on the Decentraland VR platform.||Real estate agents can organize remote virtual open houses Virtual real estate agents to help close on that “dream” virtual property.|
|Retail||According to CNBC, Walmart submitted seven applications with the US Patent and Trademark Office in December detailing its ambitions to develop its own cryptocurrency, NFTs, payment system, and e-wallets. Zara, Nike, Adidas, and H&M have opened their Metaverse store presence.||The next-generation shopping experience, without the parking hazzleImagine a shoe shopping trip to Dubai, New York, Paris, and London on the same day with all your friends|
|Fashion||Roblox has hosted special product releases from premium fashion labels, co-created games, and enticed players to access these “things” in return for digital money.||Trying on clothes before you buy them. Virtual weddings call for virtual clothes. (Rent-a-tux for your avatar).|