Many people had never heard of the metaverse until recently, but since Mark Zuckerberg announced the rebranding of Facebook to Meta at the end of October, it has been all over the news. Microsoft also revealed their plans for entering the metaverse, and in the weeks ahead, all major technology companies will likely follow suit in some fashion or another.
The more firms that announce their involvement with the metaverse, you can see how popular it is because it hit 1.7million views in a month…
The metaverse’s origin is mentioned in no article about it. In his 1992 novel Snow Crash, Neal Stephenson coined the term metaverse. The metaverse is a term that refers to a place where people use virtual reality headsets to engage in a digital game world, according to the book. After becoming popular among Silicon Valley entrepreneurs, the book has been adapted into a series by HBO.
What is the Metaverse?
The Metaverse is an immersive, 3D, web-based virtual world. It provides users the ability to interact with others in real-time by using audio and video to communicate across a series of networked computers. In Metaverses—also called Metaverses—people use special interfaces, called Nerve Gear or Amuspheres, to explore Metaverses.
People can create a life in Metaverses, building a home there and socializing with other people from around the world. They can take part in musical performances together, attend parties and visit museums or theaters as if they were actually going to those places. Learn more about Metaverse here. (insert a link to “what is the metaverse?” blog)
Moving forward…
The Rise of Esports in the Metaverse
The Motion Graphics and 3D animation industry has already started to take notice of the trend. Massive multiplayer online games (MMOs) like Fortnite, Roblox, and Minecraft have been around for a while now; but it will be interesting to see how their user base grows in tandem with this new technology that was only recently introduced by Zuckerberg.
Whether or not we consider video gaming as entertainment is up for debate; however, there’s no denying how popular e-sports are these days. According to Newzoo’s 2018 Global Esports Market Report, 385 million people watched an esports event last year – more than even those who watch North America’s MLB World Series on TV! Compare this number with 2017 viewership numbers.
Many technology firms are presently working on various aspects of the metaverse, in large part due to its popularity. However, don’t expect the metaverse as outlined in Ready Player One to be accessible anytime soon. Most of the technology isn’t yet ready, and we’re still living in web 2.0, a centrally controlled and closed internet run by Big Tech, which is precisely what the metaverse requires to succeed.
It appears, however, as we are witnessing the birth of a metaverse. There are many, closed, metaverse places accessible already, such as Fortnite and Roblox. Avatars have already started walking around in cyberspace thanks to firms like Ready Player Me and the NFT craze has already reached billions of dollars.
The essential tool in the metaverse: Video Animation
3D animations and video production are technologies that may be used to create content for this expanding sector. Motion graphics is a form of animation that creates the appearance of movement by displaying a succession of still pictures fast. 3D Animation entails creating an object or character using computer software such as After Effects in order for it to appear to move on its own over time by shifting location. When utilized correctly, high-quality effects produced with these two methods can help you get great results when targeting avatars while surfing cyberspace!
As you can see, I am a firm believer in the metaverse. Facebook does not want this metaverse to become an open, decentralized, and user-controlled metaverse (the exact opposite that Mr. Zuckerberg wants to build). In the next months, all major technology companies will likely announce their involvement with this new digital frontier.
The Emergence of iCommerce in the Metaverse
According to Maury Rogow, CEO of the Rip Media Group in Hollywood, That’s me, one of the most important sectors in the metaverse will be retail. This is a concept that is slowly gaining clarity, especially now that we are experiencing the COVID pandemic. Work-from-home restrictions and Covid lockdown measures pushed more consumers to buy items and services online. Between 2020 and August 2021, eCommerce revenues throughout the world will rise by 25.7%. The worldwide eCommerce industry is anticipated to double again between 2020 and 2022, reaching $4.921 trillion in sales worldwide by year’s end.
Keep in mind that this number does not include digital assets like cryptocurrencies or NFTs, which are expected to grow exponentially. When you consider how integral virtual reality will be for shopping and browsing the metaverse’s many cyber-retailers, it is easy to see why 2019 was such an important year for Motion Graphics. As more consumers buy goods online while wearing VR headsets (or with their augmented reality lenses), Motion Graphics artists will need to push themselves creatively so they can keep up with ever-growing consumer demands.
As we enter 2020 however, eCommerce continues its meteoric rise as one of the most popular forms of conducting business on planet earth! The total market value reached $20 trillion USD by 2025 – representing a compound annual growth rate
This growth is sufficient to create a fierce market, and forward-looking companies are searching for new methods to interact with their consumers. We will see a huge increase in Direct-to-Avatar (D2A) purchases in the coming years, indicating that digital goods will only be purchased and used digitally.
What is Immersive Commerce (iCommerce)?
Consumers are gradually acclimating to the notion of purchasing and socializing digitally via social media, but consumers will also use augmented reality filters, video games, immersive interactive experiences, and real-time content. This, along with the fact that the typical human attention span is 8 seconds, has prompted merchants to rethink how they engage with their products.
Motion Graphics, 3D animations, and video production are all new tools to spruce up the online shopping experience. Motion graphics will be used for more than just video content; they can also provide users with an interactive way of learning about products which makes it easier to make a decision whether or not to purchase something.
Customer service has also seen some gains as a result of technology improvements. Customers who conduct business on their phones expect replies right away, particularly if there’s a problem (e.g., the pin number doesn’t work). To get feedback from clients quickly while keeping them engaged throughout their entire visit to the site before making a purchase decision, online stores must move into real-time communications such as live chat features built into websites.
This will lead to the creation of a new branch of internet business I term “iCommerce” (immersive commerce). iCommerce is buying and trying out digital items on the immersive internet, most likely in one of the many (upcoming) metaverse spaces. Those players who were first to enter this new sector will profit the most, just as eCommerce’s pioneers did. In the metaverse, however, the routine business won’t get you very far. Creativity is required for success in the immersive internet, and here are seven firms that are pioneering new ways of doing things. So let’s check out which merchants are now metaverse-natives.
We were recently featured in an article, so If you’d like to learn more, you must check this out. These are the 7 Companies Exploring The Metaverse.