For the average person, Metaverse can be intimidating. But for developers and those aware of the nature of Metaverse, it’s an endless playground. Do you know the origin of this virtual world? Do you know the cost of living in Metaverse? Do you know how you can benefit from it? Did you know that world’s famous companies are already using it? In this article, we explain all this and answer frequently asked questions about this topic. We will also further examine the cost of living in Metaverse.
What is the cost of living in Metaverse?
Metaverse is a virtual world developed based on artificial intelligence (AI) and VR. By living in Metaverse, users can interact through avatars. Like today’s Internet, Metaverse is not owned by a single entity or accessed by a single piece of hardware. There are also no “Metaverse Subscription” fees where you pay someone or a provider to access it. But there are costs associated with accessing Metaverse, which is paid to different companies operating in it and in different ways.
Another part of the cost of living in Metaverse is hardware costs. You won’t need a virtual reality (VR) headset or augmented reality (AR) glasses to enter Metaverse. But if you want to engage in this space and use its details fully, you will be required to use these devices, and naturally, these accessories have a relatively high price.
Who will benefit from Metaverse?
Some industries that can benefit greatly from it are video games, e-commerce, tourism, etc. three companies that used it before are Facebook, Zara, and Nike, which will continue their activity seriously in Metaverse.
It is a digital space where people can interact with each other, create and explore digital environments, and engage in activities such as gaming, commerce, communication, education, art, and entertainment. Interactions will be possible through avatars, which has made Metaverse attractive.
Metaverse is not limited to a single platform or technology but a network of virtual worlds connected by links. But what applications will it have for companies and the professional world? Many professional fields and many industries can benefit from the launch of Metaverse. Here are three industries that could benefit, followed by three professional brands active in Metaverse:
What industries can benefit from Metaverse?
1. The video game industry: How can the gaming experience provided by video games be improved? Nothing is more effective than technologies, artificial intelligence, and virtual reality!
2. E-commerce industry: how to stand out when almost every company has an online store? Metaverse will further encourage the development of e-commerce, and if physical stores cannot enter this virtual world, they will potentially suffer.
3. Tourism Industry: Nothing is better for the tourism industry than technology that allows everyone to travel wherever they want, whenever they want. Tourism can develop through Metaverse and offer new ways to explore the world!
3 examples of using Metaverse by companies
With Metaverse, businesses can create virtual spaces that allow users to interact in impossible ways in the physical world. These can include virtual meetings, product demonstrations, training sessions, customer service interactions, and more. Here are three companies invested in Metaverse:
Facebook has become meta; what better argument could there be for Mark Zuckerberg’s interest in Metaverse? The head of this social network was one of the first to show interest in Metaverse. He has also announced that he plans to invest more than 10 billion euros in this field!
Zara brand organized its fashion event in Metaverse, for 2 weeks; Participants could view virtual clothes worn by avatars and purchase them with cryptocurrency. They can also interact with other participants, again through their avatars. (source)
How did Nike first enter Metaverse? By creating their virtual world on a platform called Roblox, users can buy all the clothes and accessories of the brand to dress up their avatars, and then they can participate in sporting events and compete with other players. (source)
This virtual world, called Nickland, is mainly run by a relatively young audience, but its development is likely to be accompanied by technological advances and should capture a wider audience.
Why are big companies interested in Metaverse?
Metaverse is a topic that will be increasingly attractive to large companies such as Google and Facebook; Because it offers a new way to interact with customers and consumers. It also has the potential to revolutionize the way companies communicate and build relationships with their target audiences.
Businesses can also use data from these interactions to gain valuable information about customer behavior, preferences, and interests. Companies can use this data to improve their marketing strategies and tailor their offerings to meet customer needs better.
Finally, by using innovative technologies such as augmented reality (AR) and virtual reality (VR), businesses can create immersive experiences that can enhance customer engagement. All these features make Metaverse a desirable technology for large companies looking to win over their competitors.
Can everyone access Metaverse for free?
Metaverse is a virtual world accessible through the Internet and allows users to interact with each other. It is an open-source platform, meaning anyone with the right technology can access it. However, some areas of Metaverse may be restricted or subject to specific rules and regulations, and others may require payment before accessing them.
Those that can potentially be available require a lot of highly specialized equipment at a very high cost. However, ordinary users can access this attractive technology without needing expensive equipment and just by using a mobile phone, computer, or laptop.
But what are the dangers of Metaverse? The principal risks of Metaverse will be related to its potential for abuse. Since this is a virtual world, people can pretend to be anything they want and engage in activities that may be illegal or unethical. There is also the risk of cyberbullying and online harassment, as well as the risk of identity theft and fraud. Learn more about security challenges in Metaverse.
Today we talked about the cost of living in Metaverse; However, Metaverse is the next-generation Internet, and the Internet is not really free. We pay a fee to use the Internet and pay for cellular networks. Likewise, we will somehow pay for Metaverse. If we do not consider the hardware costs, the purchase of NFT, and the use of all the facilities of Metaverse space, it is still not possible to consider costs such as the purchase of the Internet, in-app payments, and other factors.