When you hear the word metaverse, the first thing that comes to mind is a person playing video games with a VR headset on.

Why would it not?

Digital gaming was one of the first adopters of the metaverse.
But if it was only for the gaming industry,CEOs like Mark Zuckerberg or Satya Nadella wouldn’t have invested billions in it.
It’s not just individuals who are interested in it, well-reputed businesses are betting big money on the metaverse. The metaverse provides business opportunities that are too big to ignore. That being said….

What is The Metaverse, Exactly?

The metaverse is a single, shared, immersive, interactive, 3D virtual space where humans can experience life in ways they have never imagined possible. It is used for various purposes like online gaming, social networking, training, and more. The metaverse has the potential to create unique and imaginary worlds.
The immersive experience that the metaverse can offer, can’t be experienced anywhere else on the internet. The metaverse is constantly evolving and offering endless possibilities for interaction and development.

Cathay Hackl once said, “The metaverse isn’t about escaping reality”. It’s about embracing technology and augmenting it with virtual experiences that can make things better, more fulfilling, and more connected to people across the globe.

Is The Metaverse Different From The Internet?

Even though the metaverse is known as the next big iteration of the internet, there are major differences between both of them.
As we already know, the internet is a network of websites. In the initial stage, websites were created to serve the purpose of distributing information only. But now it serves various purposes from entertainment and shopping to communication. With the emergence of social networking, the internet turned into a channel for people to connect and share their lives with each other.

Even as large as the internet is, it’s still a place for people to store and share information about what happened in the real world. On the other hand, the metaverse is a land of virtual reality. Here, the users like their virtual lives. The activities conducted or the data stored in the metaverse may have nothing to do with the actual world.

To put it in simple terms, the internet shows you the real world, whereas the metaverse shows you the virtual world that can be imaginary or parallel to the real world.

The virtual world is boundless, you can conduct various activities as you do in the real world, like selling and buying products, hosting a webinar, attending concerts, and more.

As a Business Leader, Why Must You Use the Power of the Metaverse?

The metaverse offers exciting potential for brands looking to always stay ahead of the curve and engage with customers in innovative ways. It is not only for marketing and PR but the metaverse can also be used for creating immersive experiences for research, education, training, etc.

• Renowned tech company Nvidia said that metaverse simulations are very helpful in building sustainable manufacturing and logistic solutions.
• Nike, a very popular product-based brand, has already dived into the metaverse journey. Recently Nike has acquired RTFKT, a developer of custom and virtual sneakers designed specifically for video game lovers.
• BITS Pilani, a well-reputed all-India institute for higher education, held a metaverse convocation on MegaSpace. This was the first-of-its-kind metaverse event and also the biggest innovation in EdTech. This event proved that the metaverse can not just do magical things in gaming but can also solve real-world problems.
• Recently, Sotheby established its virtual gallery for digital arts in a 3D virtual world browser-based platform. Many artists, content creators, and influencers are making use of NFTS and blockchain to trade their content and art.

So, there is no doubt that business leaders need to get into the metaverse landscape and use it to their benefit. Metaverse for Hr to metaverse for the education industry, there is something for every field to revolutionise engagement and understanding.

Launch Yourself into the Metaverse

MegaSpace, an ibentos product has partnered with some of the biggest businesses or brands across the globe to create unique and immersive experiences. We are here to help you as a launchpad you need to enter the world of metaverse. Connect with us today, to explore what solutions we have to offer.

Source: https://ibentos.com/blogs/what-is-metaverse-everything-you-need-to-know/