“Metaverse” is a term thrown around a lot these days, but what exactly is it?
The term “metaverse” was first coined by author Neal Stephenson in 1992 in his novel Snow Crash. The novel stands as one of the foundational texts of the cyberpunk movement, its protagonist is a katana-wielding hacker who jumps between a dystopian Los Angeles and a virtual world called the Metaverse. Today, the term refers to a place where you can virtually meet, work and play using a VR headset, glasses or other device. Consider it like a real-life video game.
Okay, now we know the metaverse is a virtual space. Microsoft already built a virtual space for Accenture before the pandemic, which the company was able to use to onboard new employees, train them and even assign their first project within the space. The product, named Mesh, is expected to roll out in the first half of 2022, and will be accessible to anyone on any device. Meanwhile, Meta is banking on the use of its Oculus VR headsets.
While these two tech giants are in a race to stay ahead of each other, there are many other applications that have been tossed around by other companies. Metaverse malls, complete with their own virtual currency, will provide a virtual space of commerce where consumers can purchase virtual goods and services. There are already virtual tours available in some museums, zoos, aquariums and other tourist attractions thanks to the pandemic. The metaverse technology could expand on these spaces and not only give people access to sights they might never otherwise see, but it can provide additional income for businesses dependent on travel. Companies could easily charge a reduced fee for a virtual tour as compared to the price of admission.
There hasn’t been much mention of this for small businesses yet, but there will be. The metaverse is already here, and it’s only going to expand to include every aspect of society. We are likely to see gyms, restaurants, coffee shops, parks and more. For those who enter the metaverse on a device other than a VR platform, avatars are coming your way. It’s not as immersive an experience as using VR would be, but it’s still a way for consumers to be included.
Microsoft plans to integrate Mesh into its Teams platform for businesses. Their plan, eventually, is to allow businesses to customize their rooms and spaces for their own specific needs as opposed to a cookie-cutter platform for everyone. Meta hasn’t released many details on their venture yet, but we can be sure more are coming in 2022. We can also expect companies like Apple, Google and more to jump on the bandwagon and seek to provide their own experiences for consumers and businesses alike.
All of that is very generalistic. The reality is, we won’t know what to expect until it gets here and we use it. However, businesses, especially amid the pandemic, can absolutely benefit from the metaverse. Whether in-person or remote, employees can log into these spaces from anywhere and be part of a collaborative environment. Remote work provides a number of benefits to employees and businesses alike, but giving up collaboration isn’t an option in any business. The metaverse aims to make that simpler for businesses, to be a more inclusive environment for everyone.
Now, before every business goes and jumps on the bandwagon with Microsoft and Meta, it is still important to do your research. Compare services, compare pricing, make sure it’s something that will actually benefit your business. This is highly specialized technology, so make sure to have an expert on your side to help determine the appropriate path for your business.