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Metaverse: What Is It and How It Will Impact Digital Businesses

Learn what the metaverse is, a virtual environment that will transform digital businesses

Metaverse - blue image of a person wearing VR glasses

Find out everything about the metaverse and how it’s going to transform digital communication!

Since late 2021, “metaverse” has become one of the most searched terms in the world. All thanks to Mark Zuckerberg, owner of Facebook, who announced in a Founder’s Letter the development of a new platform, the metaverse.

But this technological revolution represented by the metaverse wasn’t created in 2021. For some time now, companies and technology professionals have been developing ideas that are building this future, and that are expected to transform communication in the coming years.

Below we explain the metaverse: what it is, how it came about, and how it actually works.

Check it out!

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What is the metaverse? Where did it come from? How does it work? What are the main use cases of the Metaverse? Entering the metaverse 3 companies that are already betting on the metaverse The metaverse is the future of digital businesses
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What is the metaverse?

In general terms, we can classify the metaverse as a kind of evolution of the current internet. It’s the transformation of the digital environments in which we interact into something more immersive and connected.

The metaverse is a realistic virtual environment focused on immersion. The idea is that each user will be using a customized 3D avatar, participating in spaces that simulate our experience through virtual reality, stimulating the human senses.

Thus, we create a virtual world that works as a kind of simulation, full of holograms, and that will transform how we experience concerts, meetings, and even romantic encounters.

However, it’s important to point out that the metaverse isn’t fully possible yet. Certain technologies and aspects already exist, but a lot needs to be created for us to be able to build an integrated virtual environment according to this concept.

 

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Where did the metaverse come from?

The first recorded mention of the metaverse was in Neal Stephenson’s book Snow Crash, published in 1992. In the book, the author describes the metaverse as a universe in which people interact through 3D avatars.

From there, other works have explored the concept of the metaverse in different ways, as was the case with the 2011 book “Ready Player One” written by Ernest Cline and adapted to film by Steven Spielberg in 2018, which explores the concept through games.

Real-life games have also played with this idea of customized 3D avatars interacting in another reality, as with The Sims and Second Life franchises. Today, even the most current games, such as Fortnite and Minecraft, explore this concept.

However, as we pointed out before, none of these initiatives is actually the metaverse we will have in the future. 

These are still primitive concepts in relation to what’s to come, which involves a fully immersive experience that connects to the human senses, something different from simply creating a 3D avatar in a game.

How does the metaverse work?

The metaverse doesn’t fully exist yet, at least not how Zuckerberg describes the concept and as technology experts project. 

The idea is for people to actually live in virtual reality, go to school and work in the metaverse, interacting full time in a connected world. 

We aren’t there yet, but we can already get a taste of this new world through some of the technology that has been created, especially with the use of virtual reality glasses.

To help you understand how to experience this new world, let’s talk about the main technologies that relate to the metaverse. See more below!

Augmented Reality (AR)

Augmented Reality (AR) technology consists of inserting virtual elements and information into our real world.

This is usually through the smartphone’s camera, which is used to create an interaction between existing applications and environments.

A good example of augmented reality in games is the popular Pokémon GO game, which uses real maps to create the app’s paths. In addition, it’s possible to use the cell phone’s camera to capture Pokémon in our environments, creating an interaction.

Virtual Reality (VR)

Virtual Reality (VR) is a technology that, in a way, does the opposite of augmented reality. Its goal is to transport the user into a virtual environment, similar to our reality, but that only exists digitally.

This technology creates a special 3D environment that can only be accessed with the use of special glasses, headphones, and sensors.

Several games, or even entertainment venues such as museums, already use this technology to provide an immersive experience for people.

Blockchain, cryptocurrencies, and NFTs

Other technologies closely related to the metaverse are those involving digital cryptocurrency transactions, such as Blockchain and NFTs.

Cryptocurrencies, as the name implies, are currencies that only exist digitally, with Bitcoin being the most famous.

Blockchain is the name given to the system that allows cryptocurrencies to be used securely. It works as a kind of database, both for information and for digital assets.

Finally, we have the NFT concept, which has recently become very popular. This is the name given to a digital code that validates a file, ensuring that it’s unique. In the context of the metaverse, it would be a way to ensure the validity of digital products, such as furniture and other possessions.

What are the main use cases of the Metaverse?

The metaverse is a concept with infinite possibilities, which will provide millions of different applications in various areas of human experience.

In economic terms, it will completely change our reality, creating an economy that exists within a digital world, with completely virtual real estate, furniture, goods and services and can be traded with the use of cryptocurrencies.

Educational environments can be created, which go beyond the current distance education experience. For example, entrepreneurs can create online courses with an immersive experience. 

In marketing, we’ll have complete initiatives within the metaverse, with the advertising of exclusive products that will be out of the reach of the traditional internet.

Areas that are even more traditional will be transformed. Imagine a medical consultation through the metaverse. 

Entering the metaverse

But how do you enter into the metaverse experiences we currently have?

A few market alternatives are already available, such as the Roblox and Fortnite games. In the case of the former, you can create your own 3D world using Roblox Studio.

Decentraland and the Sandbox are other initiatives. The Sandbox experience is a curious version of the metaverse, which includes its own virtual currency, SAND.

To enter any of the aforementioned experiences, you need to go to each platform’s website and download the program to your computer. 

The requirements will change depending on each experience, but overall, you’ll need a stable connection (preferably 5G), virtual reality glasses, and a cryptocurrency wallet.

3 companies that are already betting on the metaverse

To illustrate what the novelty of the metaverse represents, we have listed 3 companies that are already using this technology in their marketing and entertainment actions with users. Check them out below!

1. Fortnite

Fortnite, a game run by Epic Games, has been exploring the metaverse for a few years now. In 2020, the game broadcast an exclusive concert by American rapper Travis Scott, which took place inside the metaverse and was watched by more than 12 million people.

2. Louis Vuitton

To celebrate the 200th birthday of the brand’s founder, Louis Vuitton has created an exclusive metaverse experience called “Louis: The Game”.

In the game, users would browse to collect NFTs, which told a piece of the company’s founder story.

3. Tinder

Another successful brand that has ventured into the metaverse is Tinder, the world’s most famous dating app. 

The company partnered up with a server from the GTA V game to create a music festival for the players, with exclusive missions, prizes, and a Carnival atmosphere.

Inside the experience, called “CarnaTinder – Adventures Inc”, it was possible to match with users.

The metaverse is the future of digital businesses

Although not yet fully developed and accessible, the metaverse is already the future of digital businesses. 

New technologies promise to change not only how the market works, but also the human experience on Earth.

Staying in the loop of technological advances is essential, especially for those who work with the Internet and digital marketing

To keep up to date on the subject, check out our content on the main challenges of technological innovation.