“Metaverse isn’t a thing a company builds. It’s the next chapter of the internet overall.” – Mark Zuckerburg.
As the world becomes more connected, we’re seeing a massive shift toward collaborative mixed reality and blockchain technology. Metaverse is the latest innovation in this space and promises to be a game-changer for many industries. This technology has limitless potential — it can be used in practically every aspect of our lives, including how we work, interact, and communicate with one another.
By definition, the Metaverse is an open-source, public blockchain platform that provides a decentralized ecosystem for digital assets and virtual reality (VR). It’s a digital space where users can create their virtual universes and interact in real time with one another through avatars.
Studies suggest there is an estimated 400 million global monthly active users in Metaverse.
Moreover, in 2022, Metaverse’s market value reached $47.48 billion and is projected to hit $678.80 billion by 2030. There’s no wonder why a lot of businesses are starting to invest in this new world.
But what are the top companies integrating with Metaverse right now? What type of businesses benefits most? Here is a listicle of the top ten industries augmented by Metaverse.
1. Information Technology
First on our list, and the leading investor in the world of Metaverse, is the IT industry. This is no surprise, given how the IT industry has been both the first adopter and a driving force behind the development of Metaverse. The IT industry is both a consumer and a producer of augmented reality.
With this new technology, IT companies have been using Metaverse to improve their workflows. They’ve been using the technology for everything from designing new products to testing new software. For example, the IT industry has created some of the best AR marketing tools on Metaverse right now, including:
- 3D product visualizations for e-commerce stores
- Augmented reality customer support to improve customer satisfaction
- Voice-activated reality apps for various industries
Furthermore, the IT industry can now deliver a more personalized customer experience. Bringing data directly into users’ hands is invaluable when introducing and troubleshooting products or software.
Some of the top IT companies leveraging Metaverse include; Meta, Apple, and Microsoft.
2. Music Industry
The music industry has also been taking advantage of the power of 3D visualizations.
Professional audio editors can now integrate their music video maker to edit original music and sell it as NFT.
Furthermore, artists can now use avatars to visualize their music videos and interact with their fans. The technology also allows them to connect with their audience in real time.
Marshmello, Post Malone, and Ariana Grande are some artists who have been slowly adopting Metaverse in performing live events such as concerts and music festivals.
3. Real Estate Industry
The real estate industry is another primary sector using Metaverse to visualize its properties.
Real estate agencies can now use Metaverse technology to create virtual tours of homes to showcase their listings to potential buyers.
These virtual walkthroughs allow potential buyers to better picture a property’s appearance before visiting it. This makes it easier for them to compare different options and make the right decision.
4. Hospitality Industry
The hospitality industry operates the same way as the real estate industry — using digital space to create virtual tours of hotels, resorts, and other accommodation options.
By incorporating the Metaverse and the Internet of things, hoteliers can optimize their service and create a more personalized stay for their guests. It also automizes its customer service by providing a remote experience that allows customers to interact with their hotel and the staff anytime.
5. Film Industry
Virtual reality is not a stranger in the world of film and entertainment. In fact, it has been a part of the industry for quite some time. For instance, the movie Avatar was the first film to provide a semi-immersive virtual experience through 3D glasses.
Today, film production and post-production are possible inside the Metaverse. The platform now enables teams of filmmakers to work remotely and collaborate using a single video editor. It also made it possible for directors to film their documentaries and film in real-time in the digital space.
A famous example of a film created inside the Metaverse is Joe Hunting’s documentary entitled “We Met In Virtual Reality.”
After the IT industry, the education sector has the second-largest investment share in the Metaverse. And with the growing demand for online classes and webinars, the Metaverse is expected to play a vital role in this sector. The platform has opened educators and students to new avenues for learning and interacting.
Users can now access various educational materials, including textbooks, training videos, and lectures. The Metaverse also allows teachers to create virtual classrooms and 3D models of their lessons for a more realistic presentation.
7. Financial Industry
The financial industry is another key sector that has embraced the Metaverse. The platform has opened up new opportunities for consumers, investors, and financial experts to trade in a secure environment. The Metaverse allows users to access their crypto wallets and check market prices with a click.
The Metaverse provides a secure and transparent platform for financial transactions, including banking, insurance, and investment.
Using blockchain technology to store data, the Metaverse can significantly reduce fraud and corruption while ensuring that all transactions recorded are accurate.
Marketers can now showcase an interactive virtual model of their products instead of a static image or video.
Moreover, cross-marketing and brand partnerships have become more popular and effective. For example, Big fashion brands such as Nike and Forever21 collaborate with Roblox to advertise their designs within the game.
The healthcare industry has seen a lot of improvements from VR technology and Metaverse. The platform enables patients unable to leave their homes due to illness or disability to access different doctors for consultation via live video call. It’s now also more accessible for health professionals to monitor their patients’ progress by managing and tracking their medical records online.
Additionally, the Metaverse provides a realistic platform where doctors and nurses can practice medical procedures in real time through avatars. Virtual simulations allow medical students to practice their skills and learn more about human anatomy.
10. Gaming Industry
The Metaverse has heavily impacted the gaming industry, from gameplay to game development. The digital space redefined how we play and create games. It has provided a more realistic medium for gamers to enjoy their favorite games. It has also led to the development of unique games powered by blockchain technology.
The Metaverse blockchain allows developers to create and monetize games by providing an outlet where gamers can buy, sell and trade digital assets at their leisure. Some of the top gaming companies within the platform include Roblox, Sandbox, and Epic games.
Summing it up
Although the Metaverse is still in its early stage, it has become a game changer for leading industries. With its limitless possibilities, it has the potential to revolutionize our life, work, and future. It paved new opportunities for businesses to interact, market, and monetize their products, services, or digital assets.
In addition, the Metaverse’s technology enhanced how we create and consume various games, music, and films. It has also enabled us to experience virtual house and hotel tours, online classes, and live health consultations.
The ten sectors listed above are just several industries augmented by the Metaverse. Many more sectors will be affected by this technology, and it will continue to do so. Whether you’re a small entrepreneur or a big corporation and want to leverage the platform, it is vital to always keep up with the trend and read the latest Metaverse guides and news.