What is Metaverse? Explain what you can do and what you might be able to do in the Metaverse

The Metaverse is simply a “virtual space”. Along with the progress of virtual space technology such as VR and AR, it has been attracting attention as a tool that leads to new businesses and experiences. Just as the invisible world of the Internet was born several decades ago, a more evolved “Internet world of virtual space” is about to be born. In this article, I will explain what the Metaverse is in an easy-to-understand manner, and introduce the reasons why the Metaverse Development Company is attracting attention and its future possibilities.

However, the concept of the Metaverse is ambiguous at this point, and it is speculated that the meaning of the Metaverse will change depending on what kind of services companies create in the future. Please refer to it as recognition at the present time.

Where is the Metaverse currently being used?

The Metaverse is already being used in many ways. Here, we introduce the main services that utilize the Metaverse.

online game

The most advanced use of the Metaverse is in online games. Most people have probably seen popular games such as “Fortnite”, “Minecraft”, and “Gathering His Animal Crossing”. The game world connected to such a network can be said to be one of the Metaverses.

The common point of the above three games is that you can “communicate” via avatars in the virtual space within the game. There are restrictions that the items you can purchase and the range of movement are limited in the game, but it’s a world that can be said to be a simplified version of the Metaverse.

Players can create a world in virtual space, where they can find their own value and connections with others. In the game Fortnite, a famous artist held a virtual concert in a virtual space, attracting a huge number of 12.3 million participants and became a hot topic.

In this way, being an SNS-like space for communication is an important function of the Metaverse, and it can be said that it will lead to future possibilities. In such a game industry, as a new metaverse utilization, development is progressing such as making it possible to buy and sell items and avatar costumes in the game using blockchain technology. Online games are an industry that is attracting a lot of attention, partly due to the rise of e-sports. The following article introduces e-sports, so please take a look at it as well.

business platform

As a business platform, the use of the Metaverse is progressing. For example, the Japanese department store “Isetan Mitsukoshi” has launched a “Virtual Isetan Shinjuku Store” service that can be used using an app (REV WORLDS). In the virtual space within the app, the scenery around Shinjuku 3-chome, where the Isetan Shinjuku Main Store is located, is reproduced, allowing you to experience as if you were actually there. You can interact with store staff and other customers through your avatar, and if you find a product you like, you can go directly to the EC site and purchase the actual product. It can be said that this is a service that pioneered the future Metaverse.

In addition, with the spread of telework due to the corona crisis, more and more companies are using the Metaverse Development Services for online meetings. For example, with Horizon Workrooms developed by Meta, you can hold a meeting in a virtual space by wearing VR goggles. With video calls such as zoom, poor productivity due to time lag was an issue, but with meetings in the Metaverse space, you can experience the real presence of the other party in front of you. It is possible to hold high-level meetings.

New technologies related to metaverse

The Metaverse has existed as a concept for several decades, but behind the recent boom is the evolution of two technologies, “blockchain” and “NFT”. The spread of these two technologies has solved the problems of buying and selling and property rights in the virtual space, making it easier to use as a place for business. In this chapter, we will briefly introduce what kind of technology “blockchain” and “NFT” are.

Blockchain

Blockchain is a technology that can connect and record transaction history like a chain. As a use, it helps prevent destruction and tampering of data exchanged on the Internet. It was originally developed as the core technology of the virtual currency “Bitcoin”, and can be said to be “a technology that can monitor transaction history on the Internet”.

In the future Metaverse world, users and companies will freely buy and sell and own digital assets. At this time, owned digital assets are recorded by blockchain. In other words, blockchain technology makes it possible to buy and sell digital assets without fear of being destroyed or tampered with.

What are the advantages of the Metaverse based on case studies?

Next, I will introduce three advantages of the metaverse.

Communication that is close to reality can be achieved without being bound by the concept of place

In the Metaverse space, you can communicate close to reality regardless of location. From the comfort of your own home, you can shop at virtual stores, attend virtual events, and more.

In order to access the Metaverse space, all you need is a PC or smartphone and an internet environment, and you can use it anytime, anywhere. By using the Metaverse, you can solve the problem of not being able to see gestures that tend to occur with videophones. One of the advantages of the Metaverse is that you can easily communicate with people online.

Get new business opportunities

Virtual worlds offer new business opportunities, as many businesses now believe. It will be possible to develop businesses that exist in virtual space, such as providing virtual stores and buying and selling data using NFT technology. If we can provide unprecedented services, we will be able to differentiate ourselves from other companies, which will lead to great profits. It is also possible to cut costs by migrating real offices and stores to virtual spaces.

Even as a player, the Metaverse Development solutions is full of possibilities. It will be possible to live a life that is not bound by the real world, such as providing individual services on the Metaverse or earning a living from trading in the Metaverse.

If you would like to know more about the latest business trends, please refer to the economic information on the following pages.

Metaverse also has disadvantages.

Although the Metaverse has a sense of the near future, it has many disadvantages at present. Below are four disadvantages of the metaverse.

Time consuming and expensive to prepare

The disadvantage of the current Metaverse service is that it takes time and money to prepare for use. In order to use the Metaverse, a sufficient network environment and equipment are required. If you want to have a realistic experience in a 3D virtual space, you will need VR goggles and a controller, and you will also need a high-spec PC due to speed issues. In addition, it takes time and effort to install applications and software to use the service, and it takes time and money to prepare for use. The newer the service, the higher the price of dedicated equipment, and it seems that many users feel that the threshold is high due to the cost, which is still not common.

Does the Metaverse, which is full of problems, have a future?

Metaverse has become a big trend of the times, but the reality is that there are many problems. However, many companies believe in the expansion of the metaverse and see great business opportunities in the metaverse market. The metaverse business in 3D virtual space, centered on VR/AR, is not yet widespread at present, but it can be said that there are many people who are interested.

In the future, if the number of attractive services increases along with the resolution of issues, it is speculated that the use of the Metaverse will naturally spread, mainly among the younger generation who are accustomed to online communication. It can be said that it has the potential to spread not only as a new business, but also as a public project such as a virtual library or a virtual embassy.

This kind of fiction may come true in the future…

If the Metaverse business expands, there is a possibility that a novel or movie-like world that has never existed before will be realized. Here, we will introduce what kind of fiction will be realized by using the Metaverse, based on future prospects.

Summary

Metaverse is a virtual space created on the Internet. It is still used for games and online shopping, but it is expected that more services will be created in the future.

However, the Metaverse Token Development Company is still a developing concept, and the reality is that there are many issues. It is expected that it will take about 5 to 10 years for it to spread to general users, and further development and spread can be expected in the future.

It seems that this is a market that we will continue to pay attention to in the future, as it may lead to new work styles and business opportunities for individuals.