Metaverse needs no promotion. Not in 2022 though. The original idea was conceived by Neal Stephenson back in 1992 and has been around for many years, with various interpretations and implementations.
And now, finally, Metaverse is becoming a reality.
However, how fast is this all happening? How will Metaverse evolve over the years? Experts such as Melanie Subin, director of The Future Today Institute in New York City, predicted that by 2030, a large proportion of people will be spending time in Metaverse.
Is it true? We’re going to find out. Join us as we look at what Metaverse will look like in 5 years.
Impact on production
Metaverse has a lot of potential applications and one of the most interesting is its impact on production.
In the real world, prototypes take a lot of time and resources. They require constant repairs. In addition, once finished, the product still needs to undergo rigorous testing before it is ready for mass production.
Not in Metaverse. Prototypes can be built using virtual machines like Unity. The idea is that you could create a 3D model of a product and then send it to a professional printer who would print the product for you.
Companies like BMW and Hyundai have already created virtual twins in their production facilities where they can try out new ideas without having to incur the cost of building a physical prototype.
Virtual real estate market
Digital real estate is a brand new concept. In Metaverse, people will be able to buy, sell and trade virtual land.
We assume that the virtual world reflects and acquires the characteristics of the physical world, including economies. Metaverse will have its own virtual real estate market where people can buy, sell and trade virtual land.
The process has already begun. In Hong Kong, property thieves have already started buying up virtual land. You can trace the interest to the lack of real estate in Hong Kong.
With virtual real estate, there is no need to worry about planning laws or building permits. You can do whatever you want with your piece of Metaverse.
Future impact on the world economy
Needless to say, Metaverse will have a major impact on the world economy. It has already had a significant impact.
Last year we saw NFTs sell for almost $ 70 million. And that was just the beginning. Metaverse will change the way we think about ownership.
It will also create new opportunities for entrepreneurs. In Metaverse you can be your own boss and create your own products and services.
Do we already have the tools?
So what will this new Metaverse look like? Will we all have headphones and be taken to a virtual world? Or will it become something more subtle, integrated into our daily lives?
Argodesign, the design company that has spent years as an AR consultant for Magic Leap, seems to have an idea of what Metaverse’s future will look like.
The company sees Metaverse as a natural extension of the Internet, where you actually visit places instead of visiting websites. Their blended reality glasses add digital layers to real places.
For example, your living room might have a track to watch real virtual TV. Or you could have a song to play video games.
What’s more, Argodesign believes that Metaverse will not be limited to just fun and games. They think it will eventually become the new operating system for our lives.
You can be sure of one thing that Metaverse is coming up with. It’s not a question of whether or when. And it will change the way we live, work and play. Are you ready for the future?
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