The social and technological context further drives the metaverse concept, and the main market players are preparing to take advantage of the opportunities of this new reality.
Digital experiences that blend perceptions of physical and virtual space should lead to a technological and social revolution, which some experts say is comparable to what we saw with the rise of smartphones. In recent years, the term metaverse has received more and more attention and investment from the market. But, after all, why is this concept so relevant to the moment we live in and to the future? Why prepare for it today? There are a few points I would like to highlight.
The metaverse offers the opportunity to experience new realities, through technologies such as extended reality (XR) which includes the concepts of augmented reality (AR), virtual reality (VR) and mixed reality (MR), and which are equally important with: the artificial intelligence. . Some of the most famous possibilities are experienced by gamers – with hyper-interactive games – and for social networks – with platforms that allow virtual versions of themselves.
However, the global metaverse opens up opportunities in the fields of education, health and wellness, media and social networks, entertainment, manufacturing and remote support, in general new businesses, some of which are yet to be defined. It adds an additional layer of human interaction and information exchange to improve the perception and retention of information.
This human element has gained special relevance in recent years. Craig Levine, Co-CEO of ESL Gaming Network, and Qualcomm Chief Marketing Officer Don McGuire made that point during a panel at SxSW 2022, citing how the Covid-19 pandemic has heightened awareness of the need for coexistence between people who strengthen. In other words, technology must incorporate the human element to connect people to the real world.
And the social context that enhances this need finds a technological evolution that enables the structuring of the metaverse: the implementation of 5G. By providing faster connections, lower latency and more possibilities to share data, 5G will allow the structuring of the metaverse.
Why prepare for the Metaverse today?
The major technology players are preparing to operate this new reality. According to an article by McKinsey & Company, companies related to the metaverse will raise more than $10 billion USD in 2021. This preparation also focuses on the structuring of this universe and the relationships between the services and devices that will be offered by various companies.
Companies such as Meta, Microsoft, Qualcomm and Sony, among others, have come together in 2022 to promote standardization that makes their digital ecosystems compatible and interoperable. The Metaverse Standards Forum is expected to hold meetings later this year.
Qualcomm has been investing in technologies to merge physical and digital spaces for more than a decade, which has made it a prominent place in today’s industry. This year, for example, the company launched a $100 million investment fund dedicated to the metaverse, the Snapdragon Metaverse Fund. The project helps developers create and improve technologies such as extended reality (XR), augmented reality, and artificial intelligence. In addition, Qualcomm maintains and develops new partners with technology giants to provide software and hardware for its augmented reality business.
Therefore, we can see that the current situation and the future move to make the metaverse a protagonist of technological and social changes. We also see that some of the major players in the market are already preparing and investing for this new reality. With this, I believe that the opportunities of the metaverse should benefit many, and that the people who are ready will win in this situation.