Metaverse has been a new state-of-the-art in the gaming industry since 2019. Beyond gaming, what are the new adoption of this technology?
Exploration of worlds other than our own appears to be a natural element of the human experience. Journeying to unexplored worlds, from circumnavigating the globe to exploring other planets, stimulates the imagination and spurs both innovation and investment. And today, traveling to virtual worlds is no exception. It is the metaverse- opening new opportunities for businesses.
Consider the metaverse to be a digital environment of the future, similar to the internet’s next generation. When metaverse is fully developed, it allows individuals to connect, work, and play in virtual environments. As large technology companies embrace the concept—and, in some cases, stake their entire company on it—it opens up new investment opportunities, particularly in virtual reality (VR) and augmented reality (AR) (AR).
Total VR/AR investment is expected to reach $72.8 billion in 2024, up from $12 billion in 2020, as these technologies grow to provide increasingly integrated digital experiences. Here’s a deeper look at how virtual reality and augmented reality are being utilized today, as well as how investors might become involved in this technological transformation.
Beyond Gaming: New Applications for Virtual Reality and Augmented Reality
Individuals’ most obvious present uses for VR/AR technologies, notably VR headsets and AR glasses, are gaming and entertainment. However, we’re seeing increasing examples of a combination of the virtual and real worlds, such as event promoters holding virtual live-music concerts and museums giving virtual tours. Outside of entertainment, virtual reality and augmented reality are being actively employed in the business.
What about companies? VR/AR is being utilized to instruct workers on machine operation and safety measures in industries with heavy machinery or dangerous work situations. During the pandemic, these technologies deployed in intensive care units bring additional expertise into the room without risks exposing to the COVID-19 virus. In, or rather out of, the workplace is another area suitable for further VR/AR application.
How can you invest in these new technologies?
When you combine that with games becoming the preferred social media platform for many people—and platforms that offer online multiplayer experiences—the borders between gaming, entertainment, social media, and the virtual world start to blur. Game developers and publishers are unlikely to miss what may be a golden chance to link to other types of connections while keeping in-game material and experiences fresh.
Consumer technology and communications
Several tech companies are working on devices that allow people to participate in these virtual worlds. Consider virtual reality headgear and augmented reality filters that may be superimposed with a smartphone camera, as well as linked operating systems for PCs. Communications and streaming services, for example, might help accelerate the shift by delivering material in a virtual environment rather than on a screen.
Cybersecurity and digital infrastructure
Several peripheral technologies and trends might benefit from sustained VR/AR growth. Cyber dangers will undoubtedly become more prevalent, creating possibilities for organizations providing cybersecurity solutions. Increased digitization would necessitate high-speed wireless connectivity enabled by 5G, which might open up chances for 5G mobile connectivity and digital infrastructure investment.
We’re thrilled about what the future holds for VR/AR and the possible metaverse, and we believe there will be several chances for investors to engage in this technological change in the coming years. The mobile internet has offered a new approach to customize experiences to fulfill those expectations. We predict that the metaverse will amplify this tendency, with meta technology playing a critical role in the future.
akaChain is backed by FPT Software, a globally leading technology, and IT services provider. It is an end-to-end, permissioned, multi-chain network based on the Hyperledger Fabric. Since its establishment in September 2018, akaChain’s product has assisted many enterprises, from SMEs to Fortune 500 firms, to transform with distributed ledger technology. The company provides a broad range of permissioned blockchain-based products and services in multiple sectors, including retail, supply chain, banking and finance, insurance, shopping mall management, etc. to transform with its distributed ledger technology. For more information, please visit https://blog.akachain.io/
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