By
Grace
July 22, 2022
4 Min Read
As a shared, virtual, immersive and interactive world that relies on AR, VR and blockchain technology, the Metaverse creates a whole new world of exciting use cases, like virtual concerts and digital property, to name a few. Although a fully-fledged Metaverse is still far off, there are already a number of Metaverse-like projects creating three-dimensional, diverse experiences. As a result, there are a wide range of interesting Metaverse use cases and applications worth knowing about.
If the Metaverse is still something new for you, we invite you to read our detailed post on what is the Metaverse and why it’s important. We’ve also explored the topic in more detail to show those more enthusiastic about taking part in Metaverse projects how to enter the Metaverse. But perhaps the best way to understand this digital space is to become familiar with some of the main things that you can do inside the virtual universe by introducing you to the top Metaverse use cases today.
The Metaverse opens up a world of opportunities when it comes to remote virtual offices and digital office space. We’ve seen dramatic changes in the workspace over the past couple of years, especially after the impacts of the global pandemic in 2020. A large portion of employees around the world have the option to work from home. But even if remote work offers multiple benefits, it also faces one key challenge - connectivity.
The Metaverse could potentially solve this problem by offering a solution for virtual collaboration in workrooms, team-building activities, virtual meetings, and more. By using digital avatars, employees could attend virtual work events, meetings, visit virtual help desks, and communicate with colleagues and managers.
Access to a virtual universe enables businesses to do a lot more, like training and onboarding. For example, BMW Group has already explored this option by using NVIDIA’s Omniverse (a 3D collaborative metaverse platform) to design a future digital factory to train and remotely connect its employees.
Metaverse technology can also alter the approach to learning and education by creating new opportunities. Although online learning is already a popular concept, the virtual reality can take the learning experience to a whole new level. The Metaverse can offer users the ability to fully experience new concepts and activities rather than simply learning about them in theory.
With intense and high-quality assimilations of knowledge when compared to the standard classroom learning methodology, the Metaverse is expected to transform the way we acquire and perceive new information. In the future, we might even be able to eliminate the language barrier with the help of advanced AI translators that could enable people from different parts of the world to learn in a single virtual environment.
Virtual tourism is also among the emerging Metaverse use cases that users can explore. Visiting different countries and new places becomes a challenge in times of global uncertainties, pandemics, or financial instability. However, in a virtual reality, these challenges are eliminated. The Metaverse space could allow travel enthusiasts to enrich their cultural knowledge and take virtual tours to real-world destinations via the use of VR headsets, 360-degree videos and other solutions.
Similar projects have already started taking shape. For instance, South Korea is planning an investment of $186.7 million for the creation of a Metaverse ecosystem, with Seoul chosen as the first city to be included in the virtual space.
Another example is the creation of Ariva Wonderland - a travel Metaverse that enables virtual travelers to take virtual tours to popular destinations like the Eiffel Tower, Statue of Liberty, Arc-De-Triomphe and others. Best of all, users have access to time-travel functionalities and can go back in time to see how certain destinations looked before and what they could look like in the future.
Perhaps one of the most popular use cases of Metaverse-like projects today is online gaming, more specifically - blockchain gaming. In fact, it’s commonly considered that the gaming industry is among the driving forces underlying the evolution of the Metaverse. The virtual reality creates more gameplay flexibility and permits participants to generate their own content and create their own games.
In addition, Metaverse gaming also allows gamers to earn while they play in what’s known as play-to-earn games. Apart from having fun and developing certain mental skills, gamers can also earn cryptocurrency or other digital assets like NFTs. Gaming platforms like Decentraland, The Sandbox and Axie Infinity are already showing what the economic component can achieve in gaming. Best of all, a compatible Metaverse architecture in the future will mean seamless portability of assets and easy switching between different formats of interaction.
Fashion is another area that is taking advantage of the opportunities created by the Metaverse. The fashion industry is exploring the potential of the virtual world and the metaverse technology by enabling users to purchase exclusive outfits from eminent fashion houses in the virtual space. An example is Gucci and its creation of the Metaverse Design on Roblox.
Users are already showing interest in what the fashion designer offers on the Metaverse, with a Gucci bag purchased for $4,000 in the virtual reality.
Blockchain technology could give another dimension to virtual fashion projects, as it provides users with the ability to have exclusive ownership over digital fashion collections via the use of NFTs, making the space even more interesting.
Virtual real estate is among the core features of the Metaverse. Metaverse property is growing in popularity, with more and more people and businesses looking to purchase virtual property in the digital world. Currently, virtual land for sale is available on platforms like Decentraland and The Sandbox, where owners can sell their property, rent it to others, or use it to build, create events and organize different activities.
Every Metverse-like project has a different amount of virtual property available for sale and its virtual map is divided into specific ways. You can find out more about how to buy land in the Metaverse in another post we’ve written.
Advertising in the Metaverse is just another natural use case that stems from the ability to purchase or rent virtual land. The virtual world is currently among the most innovative methods that companies can explore to engage with new users and make their brand more visible. Brands can create virtual billboards in high-traffic virtual spaces in the Metaverse, they can take advantage of virtual influencers, Metaverse events and others.
For example, brands like Coca-Cola, Samsung, Balenciaga and Adidas are creating advertising campaigns in the Metaverse to strengthen their presence in the virtual universe and attract more users to their brands.
The music industry is also evolving in the virtual space, with virtual concerts becoming popular in Metaverse-like projects. For instance, more than 2 million people attended Travis Scott’s virtual concert in the Fortune Videogame environment. As the virtual world isn't limited by the physical laws or our real world, the space enables performers to test new merits and explore new avenues for maximizing the entertainment experience.
Travis Scott’s avatar during the concert was the size of a skyscraper, allowing the performer to interact directly with the audience - something that is impossible in our physical world.
Another Metaverse use case that it’s worth looking into is fantasy sports and championships. For example, fantasy football in the virtual reality is expected to become popular thanks to the opportunity to provide point of view differences and unique experiences. Projects that are already exploring the space have shown high demand for sports-themed NFTs and collections by users.
Some may find it hard to believe, but Metaverse weddings are also becoming a thing. Getting married in the real world nowadays is an expensive luxury that can oftentimes be constricted by numerous factors like time, place, and more. Metaverse-like projects now allow people to get married in a virtual reality, where they don’t even have to be in the same room during the ceremony or party.
The first Metaverse wedding is also a fact, but the concept is still not something most are looking to embrace. Metaverse weddings are currently not legally binding but they are recognizable via meta-marriage certificates.
With the advancement of blockchain technology and the creation of more Metaverse projects, we are expecting to get closer to a fully-fledged, complete and interconnected Metaverse. We are already seeing a number of real-life activities and events being duplicated and improved in the virtual world. It’s exciting to see what else the virtual space has in store for us in the future and what new Metaverse use cases will arise.
