Facebook has changed its company name into Meta and established a network of platforms and services to leap forward into more innovation. FB, WhatsApp, Messenger, Instagram, Quest, are part of this digital realm and are the backbone of Mark Zuckerberg’s new project called the Metaverse.
What is the Metaverse? This has been a common question posted and asked throughout the web from articles to videos, many don’t know and many others don’t want to guess because are biased towards FB and its founder. The Metaverse is a digital realm made of virtual reality, augmented reality, blockchain, cryptocurrency, together hosting a new entertainment/commercial/financial environment.
The Metaverse will play a crucial role attracting different brand areas to invest in new forms of business. Four major areas were found to be suitable for Meta to open up to new opportunities:
–entertainment
– social
– banking
– commerce
Let’s enter the Metaverse by taking ‘entertainment’ as an example. Here we have a wide corridor for brands to invest by creating fresh products/services or simply transferring in the Metaverse what’s already available. Videogames, movies, shows, gambling, will play an important role in shaping this virtual world by connecting with e-commerce platforms and various payment systems, this will create a whole new digital economy reforming the markets.
Here we can see an in-depth view of how videogames will change the markets once they enter the Metaverse. The user will play a significant role competing in the market of digital content making, this will prompt new methods of commerce and money-transferring and for many users it will open to professional opportunities to explore.
A more structured view of the Metaverse can be seen here below with the user at the center of everything. The closer elements and brands move towards the user, the more personalized the experience will be and at the same time its digital factor will increase.
What we can expect from the Metaverse is a multi-layered digital reality that will span across different forms of communication, content, devices, and Meta will use the already existing owned platforms to build and connect both vertically and horizontally. However, we should be aware that much like the internet in its early commercial days, the Metaverse will begin resembling the Web 1.0 in its initial stages and progressively have its users build by taking the shape they want.