![]() ![]() Virtual reality (VR), on the other hand, doesn’t include a physical-world component (besides the handset or other equipment such as a helmet or sensor-laden gloves). It’s physical and virtual all at once.Īdvanced AR headsets-together with new and enabling technologies such as 5G, edge computing, and cloud capable of delivering mega volumes of data-are helping the metaverse deliver a level of virtual digital experience that is more realistic than the online gaming platforms that have been around since the early 2000s (and were the early forebears of the metaverse), where people could create avatars through which they could have semi-lifelike virtual experiences. The game lets players catch characters based on their real locations on a map. ![]() If you’ve tried Pokémon Go on your smartphone or the IKEA furniture placement app, you’ve experienced AR. ![]() Simply put, AR, or augmented reality, uses technology to add or augment a person’s view of reality with a computer-generated image. “These are all trends that have been going on for multiple decades, and there’s no reason to believe that time spent online, the number of smartphones in use, and the criticality of digital to our economy are going to reverse.” What are AR and VR? “We’re going to see more brands, more investment, more M&A, and more users in all things 3-D and real-time rendered,” says technologist and author Matthew Ball. What’s more, the metaverse increasingly seems like an inevitability. The role you can play as a user in this community so that you feel like a stakeholder and not a ‘user.’” The value of belonging to this community. Instead, it’s about “ embracing and augmenting it with virtual content and experiences that can make things more fulfilling and make us feel more connected to our loved ones, more productive at work, and happier.” For Brian Solis, Salesforce’s global innovation evangelist, “ what the metaverse is really all about is community. The metaverse isn’t about escaping reality, says futurist Cathy Hackl. the possibility for thousands of people to interact simultaneously.platforms and devices that work seamlessly with each other.And the “enterprise metaverse” may coalesce in a way that unlocks even more opportunity, beyond simply serving as a virtual place where people interact.Īt its most basic, the metaverse will have three features:Īnd ultimately, the full vision of the metaverse will include the following: It represents a convergence of digital technology to combine and extend the reach and use of cryptocurrency, artificial intelligence (AI), augmented reality (AR) and virtual reality (VR), spatial computing, and more. Based on this analysis, we believe the metaverse is best characterized as an evolution of today’s internet-something we are deeply immersed in, rather than something we primarily look at. In June 2022, McKinsey released Value creation in the metaverse, a new report based on surveys of more than 3,400 consumers and executives, as well as interviews with 13 senior leaders and metaverse experts. We believe both interpretations are correct. Others think it has the potential to be a commercial space for companies and customers. Some believe it’s a digital playground for friends. The metaverse means different things to different people. It’s an opportunity that is too big to ignore. The latest McKinsey research shows that the metaverse has the potential to generate up to $5 trillion in value by 2030. And so far in 2022, more than $120 billion has flowed into the metaverse. In 2021, metaverse-related companies reportedly raised more than $10 billion, more than twice what they did in 2020. And once people get the gist, most of them are all in: recent McKinsey research shows that approximately 60 percent of consumers are excited about the transition of everyday activities like shopping, dating, and working out to the metaverse.īut it’s not just individuals who are meta-curious: private capital is betting big money on the metaverse. In 2021, internet searches for the term increased by 7,200 percent. The metaverse is having a moment: if you’ve ever done a Google search for the term “metaverse,” you’re not alone. ![]()
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