5 factors you need to know about the Metaverse

The Metaverse is taking over gaming

The Metaverse is a topic that is quickly becoming more popular in gaming. Developers all over the world are creating a virtual world that will be fully customizable to users. In metaverse social games like TMR.WORLD, gamers can interact with other gamers through communities they build from the ground up. What’s even cooler is that gamers can become owners of pretty much any asset you can think of in a game.

It is Blurring the Lines

It will be hard to leave the house when you can pretty much do anything while gaming. Today’s gaming environments are finding new ways to submerse users into their gameplay. It’s also important to note some major players in this metaverse will big companies like Walmart, Disney, and Facebook (renamed Meta). Consumers will eventually have the ability to make purchases in the metaverse from the comforts of their home, says Forbes. In fact, at Germain Toyota of Naples, they have completed the first automotive transaction in the metaverse. You can officially go to a dealership in the metaverse and buy a car.

It is Causing a Cataclysmic Shift

What could have possibly caused this cataclysmic shift? A couple of years ago, retailers were struggling with ways to make the consumer experience more engaging. Malls all over the country were shutting down and reducing their footprint. Post COVID-19, businesses who had been operating with skeleton crews by now are well adapted. Educators and doctors are now working as much at home as they do in the office to limit chances of spreading the virus. Likewise, retailers have found a savior in virtual and augmented reality. Of course, there’s nothing like being able to try on a shirt, but if you can try it on without catching a virus, that’s an added value. The same goes for all other consumer activities that require in-person interaction. The most important thing to takeaway from the perils of 2020 is that the old of doing things is out of the window. It’s time to start thinking outside the box while in the box, if that makes sense.

It is the Tip of the Iceberg

I can remember what it felt like to have a gaming console for the first time. My mom got me and brother the Super Nintendo. The thought of knowing I didn’t have to go to the laundry mat and spend quarters on the arcades made me so happy. What got me even more ecstatic was when I got a game cartridge that had multiple games on it like Street Fight, Tetris, Primal Rage, etc. I immediately as a kid could grasp the concept and value of a bundle. Imagine that Web 3 is just the beginning of this new virtual community of social users with we could call basic consoles right now. In the future, instead of having access to “page” which is what we call it today; we will instead access “stores” in a virtual environment. Our computers will become a resource for accessing virtual environments. This will be beneficial to people with disabilities or other limitations that affect their ability to travel. It may also have other applications, such as facing fear or dealing with trauma by placing people in challenging but safe environments.

Conclusion

When talking about uncharted territory or unclaimed land, one must think of regulation. Sure, crypto has its blockchain to manage transactions on these new social platforms. However, what will Facebook do to protect users from various attacks? With the metaverse being new, what are the laws that will exist in the varying communities that will thrive in this virtual environment ? I bring this up to illustrate what is coming. We are basically in an episode Black Mirrors, in which this pinnacle moment in time is when we will see reality mesh with virtual reality. What could this imply? Will there be new social groups that leak over into the real world of politics and pop culture. We have seen this happen with social groups like Reddit, where a group of users were able to pump and dump GameStop stock to astronomical price levels.

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Citations

Vargo, L. (2022, July 5). How The Metaverse Is Shaping Consumer Behavior. Forbes. https://www.forbes.com/sites/forbesbusinessdevelopmentcouncil/2022/07/05/how-the-metaverse-is-shaping-consumer-behavior/?sh=1dc3a3af3079

World’s First Retail Automotive Transaction in the Metaverse, Completed at Germain Toyota of Naples. (2022, March 21). Automotive. https://www.asotu.com/article/worlds-first-retail-automotive-transaction-in-the-metaverse-completed-at-germain-toyota-of-naples

Yahoo is part of the Yahoo family of brands. (2022, July 5). PLUR. https://finance.yahoo.com/news/plur-announces-tmr-world-metaverse-130000214.html

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