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How Brands Can Leverage the Metaverse
The Metaverse is a 3D virtual world that merges with physical environments and can be accessed through virtual reality, augmented reality, and the Internet. It’s also been called a “massively scalable, massively interactive 3-D virtual environment that enables people to meet and interact with each other, with virtual characters and representations of objects from their real world.”
The term is often used in reference to social VR experiences such as Second Life or Horizon Worlds. However, it can also refer to a virtual platform that provides an immersive online experience on PC or mobile devices such as IMVU or Roblox. In fact, more 13-17 year olds use IMVU than any other virtual world. IMVU has a virtual store where users can buy or create rooms, avatars, and worlds that are fully customisable. This is a glimpse of what the Metaverse will be like, and it’s important to keep an eye on this technology as it grows.
As the Metaverse becomes more prevalent, brands will need to start thinking about how they can leverage it. According to McKinsey research, companies that don’t participate in the Metaverse may be at a significant competitive disadvantage by 2030.
To prepare for the Metaverse, it’s important to invest in talent and build teams that understand the space. This could include innovation teams who’ve been developing AR and VR for years, as well as emerging leaders who are crypto natives. In addition, it’s important to consider how a company’s existing technologies can be used in the Metaverse. For example, the integration of facial recognition into a virtual reality experience would be extremely useful.