![Business in the Metaverse](https://twistevents.co.uk/wp-content/uploads/2023/05/Untitled-design-3.png)
Catch the Wave and Dive into the Future of the Metaverse
A year ago, I wrote about the Metaverse, pondering the question – whether to steer clear or jump aboard? Things have since moved on considerably and with 400 million metaverse users per month, if your company is contemplating surfing the metaverse wave now is a great time to catch it.
A brief recap on what this metaverse thing actually is. Most people agree it is a fully immersive virtual world. In reality we already have multiple metaverses i.e. 3D virtual spaces, where communities interact with others via their personalised avatars using innovative digital technology. Virtual Reality and Augmented Reality have been at the heart of this evolution, with brands like Meta and Google developing or acquiring their own technologies.
Much of the metaverse talk in 2022 was about consumer activities such as games, virtual experiences, or shopping with cryptocurrency. Management consultancy McKinsey & Company has predicted that the metaverse economy could reach $5 trillion by 2030. So, who are the companies leading the charge?
While Meta focuses on further developing Horizons World, their consumer virtual reality environment, Google Metaverse has been working on projects such as Google Iris and Starline to create gadgets that will fully immerse users in virtual worlds. A third iteration of Google Glass in May‘22 saw their smart glasses providing instant language translation, sounds like it could be useful.
Microsoft and Meta collaborate to deliver immersive experiences for the future of work
Collaborations amongst big players in the metaverse have seen Microsoft and Meta partner to deliver immersive experiences for the future of work. As companies and individuals have settled into new post-pandemic working patterns, work is no longer a place, it is an experience.
The decision to bring out Mesh for Microsoft Teams to Meta Quest devices is potentially game changing, given the 270 million monthly active Teams users reported by Microsoft. Mesh for Teams is designed to help people gather virtually on any device, including smartphones, laptops and mixed-reality headsets, to connect and collaborate as they would in person.
As of Jan 2023, Microsoft 365 productivity tools are available on Meta’s Quest platform enabling people to interact with content from Word, Excel, PowerPoint, Outlook, and SharePoint plus use Windows 11 via the cloud, all within VR.
Revolutionising Virtual Innovation with Amazon’s AWS Cloud Quest
Predictably, Amazon wants in on the fun, and has launched a number of services including Amazon Web Services. AWS Cloud Quest is an open-world, roleplaying environment for Cloud computing aficionados, a space where people use gaming to learn and develop their AWS skills.
Step into the Future of Brand Culture: Nike’s Swoosh Metaverse Platform Redefines Virtual Engagement
Many companies are investing in the metaverse, aiming to deepen customer loyalty, engage in new ways with their communities and grow revenue. In 2022 Nike became the world’s highest-earning brand from NFT sales (nonfungible tokens), netting over $185 million.
Last year Nike launched Swoosh, the home for Nike’s virtual creations. Their online Web3 marketplace uses blockchain technology to facilitate users buying, selling, trading and creating digital wearables. In addition, the platform is a space for virtual events, where fans can meet Nike athletes and designers, a space Nike hopes will fuel the growing brand-inspired culture.
From Tesla to Wind Farms – Unlocking the Power of Digital Twin Technology
It is now possible for product designers to recreate physical objects inside virtual3D worlds, where their efficiency can be stress-tested against pre-determined criteria. This is all done without incurring the resource costs of testing in the physical world.
Did you know Tesla creates a digital simulation for every one of its cars?
Data is collected from sensors on the vehicles and uploaded to the cloud, enabling their AI algorithms to determine where faults are likely to occur and minimise the need for owners to take their car in for service and repair. This reduces cost to owners (and to Tesla), improves user experience, which theoretically leads to lots of happy, smiling Tesla owners!
Shopify Launches AR Service to Enhance Customer Experience
Shopify, the global ecommerce platform for businesses has launched their own AR service, Shopify AR. Companies can now use 3D models for their products, which Shopify say provides customers with a better understanding of the function and size of an item and increases customer confidence in the quality of products.
The team at Twist Events has been busy working on a ground-breaking virtual 3D world for one client, which will be used for training and networking. Not much can be said at this stage since the project is under wraps, suffice to say the environment will be rich in engaging, interactive content, offer wellness sessions and be able to host large events for over 1,500 people.
To find out how the metaverse and digital 3D environments could help your business get in touch with us.