“Meta” is a buzzword word that has been thrown around a lot lately. Oxford Dictionary defines meta as a Greek origin prefix “denoting change or position or condition…behind, after or beyond.” Recently, social media powerhouse Facebook announced it would rebrand and change its company name to “Meta.” Mark Zuckerberg said he envisions this rebrand to evolve the company as the leader of the metaverse. If you’re active online in 2021, you have probably heard of the term “metaverse.” But what is the metaverse, and who can go there?
The metaverse is an extension beyond social media. More specifically, it is a digital environment that encompasses the features of social media, augmented reality (AR), virtual reality (VR), and cryptocurrency. It is a digital world where people can “live” and participate—a world where digital and physical merge.
You wake up one morning and put on your glasses. Before you leave your bed, you take a quick trip to the grocery store to get the ingredients you need for dinner tonight. Next, you make a brief stop at your favorite coffee shop to chat with your best friend before you head off to work. You order your favorite lavender latte that you purchase with your XRP. Immediately after, you run across the street to the florist shop and make sure your order will arrive at your sister’s doorstep for her birthday today. All of this is accomplished before you brush your teeth.
But how? The idea of being two places at once still seems abstract. However, with the metaverse comes new opportunities to grow, learn, and interact in the digital world.
Uncharted Territory – The New Frontier
There is a reason why Zuckerberg and similar tech tycoons are so interested in the metaverse. The metaverse is essentially the new frontier. It is prime real estate waiting to be developed for future residents to experience however they want.
While AR and VR technology is currently available and operable with certain platforms, metaverse technology is still in development. When fully realized, people will be able to work, play, shop, learn, hang out – you name it – in the metaverse.
Changing Who We Are – And How We Operate
One of the most intriguing aspects of the metaverse is its impact on our physical world. Imagine having “in-person” meetings with offices from across the globe using the metaverse. Or realizing you forgot something at the grocery store, so you pull it up in front of you and purchase the item you’re missing to have it delivered to your home. There are endless possibilities for interactions and engagements through the metaverse.
In the metaverse – you can be whoever you want to be! You don’t necessarily have to be exactly who you are in real life. Much like a video game, you can create your avatar with its own likes and preferences.
Consequently, these new characters, identities, and interests bring a shift in how businesses market their products and services to new audiences in the metaverse. Companies will need strategic data and insights on customer trends within the metaverse to market new audiences accurately.
Not only will customer interests change, but their needs and necessities will also change in the metaverse. Brands will no longer be limited to just advertising in the metaverse but will have the opportunity to interact directly with their customers.
Bringing Your Business Into The Future
This recent introduction to this new iteration of the internet is only the beginning. As big tech companies work out the kinks in developing the metaverse, businesses and companies will fall behind if they do not jump on board soon. Understanding how your company benefits from the metaverse or even fits in is an essential part of bringing your business into the future.
From your business website to your digital marketing strategy to data and analytics, your business will need to be making shifts into the metaverse sooner rather than later. Working with a team of skilled developers at Laing Media can help you streamline the process.
Visit https://www.laingmedia.com for more information.
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