During 2022, the word “metaverse” blossomed into the lives of all techies. When parent company Facebook rebranded itself as “Meta” last year, the company revealed its rebranding ethos as one with a meta version. Defined as “a spatial computing platform that provides digital experiences as an alternative or replica of the real world – the metaverse is based on the foundations of blockchain technology.”
According to Statista, more than 35% of people are willing to spend between $700 and $1,000 on a VR device that allows them to physically feel everything they experience in the metaverse.. To uncover the facts about the metaverse, we asked industry leaders share how the meta will evolve in 2023 and beyond. Here’s what they reveal.
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1. Subsidized Metaverse hardware will be critical to mass adoption
Roy BarakCHIEF EXECUTIVE OFFICER, Amdocs’ Vindicia
“History shows us that subsidizing hardware works as a cheaper input that can be critical for mass adoption. Just look at the iPhone in its early stages. I believe that in 2023, hardware manufacturers should start looking at the mobile industry and offer installment plans for metaverse hardware as part of an internet or wireless contract to reduce the cost of entry for consumers.
“The ability to combine connectivity with digital entertainment and consumer services has the potential to change the discussion. As pay TV continues to lose ground and the momentum of streaming slows, the ability to bring together new experiences such as metaverse and cloud gaming can also be a win for communication service providers.
2. Make progress in providing tangible use cases for Metaverse
Rick GarnerCEO, Employee Readiness Consulting, NTT DATA
“The past year has been all about the meta’s initial wow factor and general experimentation. In 2023, companies will make strides in providing more specific, tangible use cases that better connect with people and create more opportunities.
“We will also see visionary early adopters drive greater adoption as more success stories are promoted. Finally, the substantial benefits of metaversion will drive scale among companies with corporate-driven advancements to increase business and opportunities in virtual reality.
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3. The Metaverse will be the playground of merged reality
Bart Schouwchief evangelist, Software AG
“While there is still a risk that the meta version will suffer the same fate as Second Life, it may not be. We can see that the Meta was probably so afraid of missing the market that they jumped too early. I expect the metaversion to be the playground of merged reality.
“While consumers will be limited to players already spending time in virtual worlds, companies will likely find many ways to use them to improve collaboration between teams without having to travel. And in manufacturing, we’ll see the use of next-level digital twins combined with all kinds of artificial intelligence begin to make strides.”
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4. Metaverse has huge potential in training and mental health
Brian Jacksonchief research officer, Info-Tech Research Group
“Metaverse is emerging as a viable option in the hybrid workspace for better collaboration around complex objects and environments. Holographic communication systems project photo-realistic 3D images of people into a distant environment that users wearing AR headsets can interact with.
“With huge potential value in training, design and even mental health, companies are already investing in prototypes. Digital twins are extremely beneficial for operations with many moving parts, such as manufacturers, who can better plan complex logistics and line and equipment changes.”
5. The tech industry needs to define the limitations of the Metaverse
Katie Coleevangelist of games and virtual production, Necessarily
“The sheer volume of dollars invested suggests that the metaverse won’t disappear overnight. Consider just the odd traction in 2022, when companies like Nike sold NFT sneakers for over $130,000. Epic Games announced a $2 billion funding round with investment from holding company LEGO Group.
“While Sony advances digital entertainment and Walmart enters the meta to provide immersive shopping experiences. These scenarios highlight the potential promise and profit of the virtual world. But for the meta version to really take off, the industry needs to communicate and clarify what it is and how to participate. Until then, it will remain a heavily overfunded and confusing enterprise for most.”
See more: Why blockchain isn’t part of the Metaverse Meta – yet
Which metaverse trends will continue to dominate the multiverse landscape in 2023? Comment below or let us know LinkedIn, Facebook or Twitter . We’d love to hear from you!
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