We hope you are ready because we will take a metaverse quiz today. But don't be afraid, the questions are not as difficult as you might imagine.
Every new technology that comes to the fore creates its own story and use cases. And of course its own uncertainties. Every time we talk about a new concept or a technological development, question marks come with it. Is it a passing fad? Or is it a hidden gem that will revolutionize our world? The "metaverse", which most of us used in a sentence at least once at this point, has made a brave entrance into our lives with all its myths and uncertainties.
Apple CEO Tim Cook, whose predictions about augmented reality made a big splash last month, also pointed out that there are indeed a lot of uncertainties about the metaverse at the moment.
“I always think it's important that people understand what something is. And I'm really not sure the average person can tell you what the metaverse is.
Then let's remove the question marks in the heads! Here are three common myths about the metaverse and why they are a misconception.
Not every game has the elements of the metaverse, take in-game asset interoperability for example. Just like every dynamic of the metaverse cannot be associated with games. In fact, games can be thought of as a branch of the metaverse use cases. It is true that the gaming industry is open to creating immersive experiences with technologies such as AR and VR, and this gives rise to the false belief that the metaverse will be nothing but a place to play our games in 3D. However, different fields such as entertainment, education, finance, shopping, and real estate all have great future potential in the metaverse.
A new way of socialization
The metaverse brings a new sense of socializing. We can consider it as a digital environment that brings users together in a virtual space. As a result of the pandemic, our need for socialization increased and the ways we socialize also changed shape. This new environment has increased the speed of adaptation of dynamics such as AR, VR, and the metaverse. Our new socialization habit is bringing our workspaces, educational environments, shopping malls, and even entertainment venues such as festival areas and museums to digital.
Digital Fashion & Avatars
The fashion industry also gains a new form in the metaverse, in which it is free of its borders and limitations. The use of digital materials and environments pushes the creative limits of designers and brings a new concept: avatar economy. We are now able to reflect our own style on the identities we create in the digital world. Who knows, maybe looking good in the metaverse will become as important as looking good in the real world soon.
A New Way of Shopping
We wanted to save the best for last: online shopping. In our blog posts, we often touch on how traditional shopping and commerce activities will transform in the near future with technologies like augmented reality and virtual try-on. Shopping is a very personal experience and is heavily based on physicality. For this reason, most people stay away from online shopping and do not want to be disappointed later. So how can we expect them to shop in the metaverse?
Today, it is not acceptable to not have 2D images of your products on your website and mobile applications. And soon it will be almost absurd not to offer 3D visualizations of your products and immersive experiences like AR and virtual try-on. AR can be used easily with smartphone cameras, allowing us to regain the "deep" shopping experience we seek.
Shopping in 3D isn't limited to augmented reality. Today, many brands that want to be part of this latest trend started to take their place in the metaverse. We have digital identities so why don’t we also have digital products from digital stores? Virtual world initiatives led by brands such as Gucci and Nike are based on creating digital twins of products and stores. You can now take your shopping experience one step further, both for you and your avatar.
Last week, we mentioned that brands started to consider the needs of Gen-Z, which also changed the course of what and how we consume things. Gen-Z knows what they want, a sense of service that is personalized, unique, and reflective of their styles. Although the Metaverse is the perfect place for them to become and reflect who they are, it appeals to a much wider audience. Gen-Z is just an early adaptor.
We experienced the same thing with the first introduction of different communication channels such as computers, the internet, telephones, and social media into our lives. At that time, the younger audience was the group that used these new technologies frequently and dominated the use cases. However, we already started to talk about the next generation after Gen-Z: Gen Alpha. Gen Alpha was born into the world of the 3D internet and the Metaverse.
Plus, with the increased tech adoption day by day, soon these new concepts will become our new reality and a part of our daily lives. So just like how our grandmas learned to scroll down their Facebook pages on their smartphones to connect and socialize, why can’t all generations adapt to the Metaverse in the same way?
Everyone asked a similar question when NFTs first became popular. “Why would I pay for something that I will not have in real life?” Designing and selling virtual items and digital clothes is one of the important dynamics of the avatar economy. The only limit is our imagination in an environment where the lines of creativity are blurred. Moreover, it is possible to turn it into income. Because believe it or not, there is actually a great demand for digital items in the metaverse.
Think about it: dressing up by breaking the laws of physics, unlimited fabric options where all styles can be reflected... Digital fashion is a great choice, especially for those who do not want to spend a lot of money on collectibles for single use. You do not have to wear it once, you can use the products you buy in NFT format again and again in videos, games, VR environments, or wherever you create content. Moreover, no matter how long you use them, these clothes will not wear off and if you ever get bored of them there is a second-hand market there too: NFT marketplaces. Isn’t that cool?
One of the priorities of Gen-Z, which we also mentioned in our previous article that they care greatly about the environment and demand the same thing from brands. Conscious shopping is important for them, and they reject the fast fashion approach imposed by the traditional textile world. The limitless world of digital fashion is perfect for an audience that both rejects fast and unnecessary consumption and seizes opportunities to reflect their unique style.
Of course, clothes are not the only virtual items that are being traded in the metaverse. From virtual lands to digital pets, there is a big potential for every brand here to generate new revenue channels.
Metaverse is not a finished concept, it is still being built as we speak by individual creators, brands, and users. The opportunities of the metaverse will become more visible to many industries when all these myths are proven wrong.
Talking about the Metaverse as a "future" plan actually sounds like the above myths we talked about. It is already here. To be a part of this future, you can contact our team and make the concept of “digital” the new face of your brand.