Today we want to share information on how the metaverse will affect everything. Immersive video games have been around for decades. Hence Facebook’s announcement of the world’s leading social network launch of their shared virtual space did not shock experienced gamers but excited the general public as it promised to introduce concepts many people had never heard of or seen. However, the reality is that they already exist online in one form or another in currently operational metaverses, which have crypto-powered economies.
Yet, Facebook’s involvement in this area is cause for dramatic excitement as this entity has enormous resources to create a virtual world that will eclipse currently popular ones like Decentraland and the Sandbox. According to a recent study by Pew Research, more than 31% of Americans are almost always online and 79% of them connect to the World Wide Web several times a day. This proves that our lives are continually shifting towards the digital sphere. Therefore, a massive VR platform with a self-contained economy can be a game-changer for how most people go about their daily lives.
It can redefine socializing
Facebook hasn’t released much information regarding its metaverse. Still, they stressed that they hope virtual conferences will replace the need for people to travel for business. This is only a negligible aspect of how a vast virtual VR world can impact human interaction. For example, several metaverse casinos operate in worlds like Decentraland, providing an authentic gaming experience on par with found and traditional establishments. Online casinos are very popular right now, especially those that accept payment methods like PayPal and cryptocurrencies. Readers can find more information on US Mobile casino sites on premium interactive game news hubs, but note that these platforms offer little social interaction.
Additionally, the VR technology necessary for immersive metaverse fun helps produce a more authentic level of human interaction, as it allows users to view and read facial and body movements. Thus, going on dates in virtual museums or restaurants will only gradually differ in a 3D environment from reality.
This will facilitate the growth of Blockchain technology
Almost all active metaverses today run on the Ethereum blockchain. This means that they use this digital ledger to process transactions made on their platforms. They all use tokens based on the ERC-20 standard, which anyone can buy on popular crypto exchanges. Back in October, many expected Facebook/Meta to use its in-development coin name Diem in its VR world, but that’s no longer a possibility as Diem has gone down in history. Still, projections indicate that Facebook will integrate crypto technology into its metaverse, helping digital coins fight against fiat currency dominance.
Open new business opportunities
Yes, anyone can run virtually any business imaginable in a metaverse. Currently, people operate nightclubs, taverns, ice rinks, amusement parks, and more in these worlds. In June 2021, real estate company Republic Realm spent $913,808 to buy land in Decentraland to open a model shopping district by Japanese named Harajuku, known for its street fashion. Republic Realm hopes to jump on the digital fashion craze soon, as virtual clothing proves to be a hit on social media.
Help improve the hospitality industry
According to Sanjay Ghare, founder of Vervotech and travel technologist, the metaverse has the potential to transform the hospitality industry. It can do this by allowing guests to take virtual reality hotel tours before booking their room, giving them a first-hand experience of the property, its amenities, and decor. This is something that 2D images cannot do. The same is true when you make a reservation at a fancy restaurant or visit attractions. Getting a taste of what a venue has to offer will dramatically increase guest satisfaction.