By ADMIN / Dec 13, 2022
The concept of the metaverse has transcended straight from the world of science-fiction into reality… And it has happened so in one of the most prolific and dramatic fashions. The possibilities with the metaverse have been growing exponentially… And it would not be an exaggeration to say that the metaverse is something that overtakes the pace dictated by Moore’s law when it comes to development.
The year 2022 was quite eventful for the metaverse. Yes, it has been instrumental in opening up a lot of opportunities some of which just flicker or tease at what could become mainstream. This would only mean that 2023 will be a lot more event full and memorable for the metaverse, NFTs, and its possibilities.
Marketing is all about establishing a presence in a place where your target audience hangs out. A lot of people are moving into the metaverse, and the metaverse experience is getting increasingly immersive by the day.
Therefore, it only makes a lot of sense for brands to get into the metaverse for brand-building purposes. We have seen certain car brands in India give the experience of their newly launched vehicles in the metaverse and even enable people to book their vehicles right within the digital environment.
A lot of global brands including some of the most luxurious ones have built their presence within the metaverse, giving their customers unique and exclusive experiences by using NFTs. We will, in 2023, look at a lot of brands entering into the metaverse space.
For any new technology or its manifestation to be adopted by the masses, you will need a catalyst that will drive them. The catalyst needs to promise mass adoption, engagement, and an immersive experience. Right now, there are only two possible candidates that can qualify in all respects… And they are cinema and gaming.
Cinema, by itself, is a virtual experience. Gaming, however, has all the credentials it takes to become the fuel for metaverse adoption. By making gaming assets as NFTs and by introducing rewarding experiences like P2E, it will make more people get into gaming and gaming metaverses.
Well… Combining the first and second points, it is quite likely that brands will look at metaverse games as probable brand-building platforms. Just like how you see football fields with hoardings and Formula One race tracks with billboards, you can see such elements in the gaming metaverse as well.
While the technology behind the metaverse has been steadily advancing, how we experience that technology will also start to improve. A lot of us have been using mobile devices to get an experience of the metaverse… And the experience, to say the least, is a bit disconnected.
By bringing augmented reality and virtual reality into the equation of the metaverse experience, you cannot expect people to be more engaged and connected with the metaverse.
This would also open up possibilities for more immersive experiences that go beyond just closing your eyes and yours… And also transcend into a more complete physical experience.
The metaverse has always been about having your own identity in the digital space. We have memories from Apple and avatars on Instagram. The metaverses will bring out something similar although not congruent.
These avatars will make your experience in the metaverse more immersive and a lot more unique and personalized. It is quite likely that these avatars will be presented as NFTs, making them not only unique in terms of attribution but also in terms of provenance.
Today, we have distinct pockets of metaverses. Although there will be exclusive metaverses created for brands, some metaverses might become interdependent and interoperable.
This would mean that if you could get into one metaverse, it would probably have a digital portal to go into another one… Especially in the world of gaming and non-branded metaverse experiences.
This would also mandate that metaverses become scalable to function without any hassle when it comes to operating across multiple digital spaces.
The year 2022 had its fair share of ups and downs for blockchain and a few of its manifestations. This has only helped in refining and narrowing down the best use cases for the blockchain, and the NFT and the metaverse are some of the most prominent among them.
Therefore, the year 2023 will probably be one of the most important milestone years in defining the progress of the metaverse well into the future.