The Metaverse market is currently estimated to hit between $800 billion and over $1 trillion by 2024. This sounds exciting, but what exactly is the Metaverse? What can it do for you?
If you’re wondering how to use the Metaverse to your advantage, read on! Our guide has all the information you need to make Meta work for you.
What Is the Metaverse?
Metaverse aims to take internet connectivity to the next level. It uses Virtual Reality (VR) and Augmented Reality (AR) to create a layered, virtual-world version of the internet.
There are many sci-fi movies and shows with similar concepts, like the Matrix. Instead of staring at a flat screen, users will navigate 3D virtual areas like shopping centers and social get-togethers.
How Does the Metaverse Work?
Popular games like Pokemon Go (AR) and gear like Oculus Rift (VR) already offer similar connectivity. AR adds virtual layers to what you see on your screen. VR gives users a fully simulated environment.
The Metaverse combines AR, VR, and the real world for a more complex internet connection. Users can create avatars so they can roam through VR areas overlaid with AR information. Or they can join real video online meetings in VR spaces with AR information sharing.
Benefits of the Metaverse
There are numerous potential benefits to the Metaverse. From education to industrial production, adding virtual spaces for connectivity includes:
- More remote work openings
- New social connections
- Opportunities for people with mobility issues
- Virtual travel
- Enhanced healthcare choices
- Added learning options
- More efficient work processes
You can also use the Metaverse to kickstart a brand or business. It offers many new possibilities for e-commerce and digital currencies like crypto.
How to Enter the Metaverse
The Metaverse isn’t comprehensive yet, so there are several platforms to access it. You can even use your mobile phone, although it won’t be immersive (yet). Other platforms include:
- Axie Infinity
- Star Atlas
- Somnium Space
- Facebook/Meta (coming soon)
You’ll have to keep up with platforms during the Metaverse evolution. Many projects to create similar platforms are constantly starting or evolving.
Facebook recently changed its company name to Meta and invested billions into building its Metaverse space. But it doesn’t offer full functionality and features yet.
How to Join the Metaverse
To join the Metaverse, you typically need to create an account with the platform you’re using for access. Many platforms like Decenterland offer guest access, so you can explore before you commit.
Many platforms also let or require a crypto wallet or other similar currency linked to your account. For example, the Sandbox lets you link a MetaMask, Bitski, or Venly account.
How to Use the Metaverse
You and/or your business can use the Metaverse in several ways:
- Build more customer connections
- Add new retail spaces
- Design virtual products and services
- Increase marketing strategies
- Create partnerships with community influencers
You don’t have to fumble around Metaverse in the dark, either. Community-driven companies like SandStorm connect brands and Metaverse builders to help you successfully navigate the new economic ecosystem.
Start Growing Your Opportunites- Invest in the Metaverse Today!
Now you learned the first steps of how to use the Metaverse. It offers so many exciting new opportunities, from e-commerce and education to gaming and crypto. You won’t want to miss out!
Are you looking for more information on the newest technological advancements? Check out more articles in our business and technology sections.