This is the second issue we publish about product content in the Metaverse. And despite the fact there’s still a lot to see before drawing any final conclusions, there’s something new to add every day. Every day the Metaverse is one step closer, and everyone should be aware of its progress not to be caught pants half down when the next iteration happens.
Remember “objects in mirror are closer than they appear”, and the Metaverse is no less.
A deeper dig in the concept
Meta is a Greek word meaning “beyond” or “after”, and mostly works as a prefix. Common words like “metadata” or “metaphysics” can give you an overview of its conceptual reach. When we talk about the Metaverse we are talking about a hybrid world where the online and the offline worlds merge together, in both an aesthetic and a functional way. In other words, where the human experience goes beyond human reality.
Welcome to the phygital space
How did we get here?
Registered in 2013 by the Australian agency Momentum, the term is mostly used in marketing and social studies to define the simultaneous presence of one person in the online and offline worlds.
Over 20 years ago, chat platforms like MS CHAT allowed choosing and creating the online profiles we now call avatars. And yet, we couldn’t imagine Roblox or Fortnite’s monetization potential. For instance, large-scale virtual concerts, or even striptease clubs already exist in Fortnite.
But the smartphone revolution has made it possible to blend one person’s behavior in both worlds, and not as two separate entities.
The past 15 years have set the course for what we should expect in the coming 15 years.
According to Statista, more than 6500 million people will use smartphones in 2022, and over 7.5 billion users by 2026. Hyperconnectivity is also on the rise with the long-awaited spread of 5G (expected to boom during 2022).
This prelude is to give a little context on how every single advance we see is a small contribution to better understanding such hybridization.
Virtual experiences are already here
On Take 1 we gave a few examples of how Augmented Reality is transforming customer experience in e-commerce.
We made little or no mention of the Omnichannel experience, where permanently connected devices already play a crucial role: the ability to be recognized physically and digitally, i.e., in a physical store or a digital shop. Product research and discovery already happen online AND offline, meaning brands must go phygital too, especially when they sell their products in physical shops.
This may seem unrelated, but location data companies and services are already building readable 3D maps based on AR. For example, Frame Synthesis simulates driving in – for now – preset locations, taking Google Maps to another level.
If we take physical products to AR, possibilities go way beyond what we saw in the Walmart, IKEA, or Dior examples, mentioned on our first Metaverse post. Industries like Real-Estate are already using it, and revolutionizing the market, with Matterport as one of the most reknown pioneers.
What’s interesting here is how taking product content to the Third Dimension takes the advertising opportunities much further and allows placing products in personalized environments according to the user’s interests.
Equipment
If we consider limited connectivity will be progressively overcome, one of the biggest challenges the Metaverse faces is the high cost of the necessary equipment.
Still, many people are buying Oculus lenses and other 3D headsets, bringing immersive experiences one step closer to their homes. So this is happening, and will stimulate more companies to invest and deliver product content that’s ready for the big day.
It’s mutual feedback. The same thing happened when people bought the first tablets – way before many of their current uses were actually developed.
The predicted increase in sales of 3D lenses/headsets leave no room for hesitation.
In fact, the biggest tech companies have placed both the money and the staff in line to develop the Metaverse. For instance:
- Facebook (now META) plans to hire over 10 thousand people to work exclusively on the Metaverse.
- Apple announced the launch of its first 3D headset in the first quarter of 2022. And you know Apple doesn’t fool around.
- Remember the Google Glass? Some say it failed because it didn’t have a clear purpose. Google had quite a clear vision – back in 2012 – yet too far ahead of its time, and probably too focused on its own environment.
Evolved work and engineering
Shortly after announcing its new name, Meta announced the creation of Horizon Workrooms. A phygital space based on Virtual Reality, designed for meetings and remote work through the Oculus Quest 2 lenses. In the Workrooms, users will be able to interact almost in the same way they do in physical offices. From creating remote desktops to working on documents simultaneously.
At the same time, NVIDIA is working on the Omniverse – a virtual platform for industrial purposes, taking the above to an evolved stage of engineering and manufacturing. Proof of that is their partnership with BMW to create a virtual replica of their factories combined with AI and what they called digital humans.
So, when Bloomberg estimates that by 2024 this virtual universe could generate over 800 Billion dollars, there are reasons to believe so.
Collaboration is essential
Despite Meta was the first to publicly declare their shift to virtual spaces, many others will propose their own version. But unless they all work in the same direction, it’s unlikely the result will be the initial one. We are watching the broad convergence of human projections and Artificial Intelligence.
Collaboration is a sine qua non condition to make this possible. Mostly because all big tech companies will need each other to test functions and work in their interoperability. Because the idea is to create a single universe where single individuals can move across diverse environments.
At Content2Sell we are carefully watching this evolution, as it will define the future of content in the Metaverse. And we are striving to help brands get ready for this exciting new era. Schedule your call now and get a FREE content audit and action plan.
