Use Cases and Applications of Metaverse

Okay, so what’s the real fuss about the metaverse?

Metaverse is just a catch-all term that refers to the entire digital and virtual shared realm that is open to all. Several initiatives are now developing twins of the physical world we live in and accessing this digital world through the web.

Even though the concept of the Metaverse has existed for more than a decade, it has become popular worldwide, with big companies announcing related projects. The buzz around this persistent shared virtual world grows as more people comprehend its exciting possibilities.

Some of the biggest tech companies like Apple, Sony, Facebook, Google, Microsoft and others are now spending billions of dollars to create a new version of the internet by combining the AR/VR capabilities of headsets, smartphones, personal computers, and servers connected to cloud services that provide end-users with an immersive experience and enable them to meet, communicate and do business in a virtual environment or metaverse. That’s because the Metaverse remains huge.

The concept of the Metaverse grew in popularity during the recent pandemic, when people preferred to avoid personal interaction, companies implemented remote working policies and adopted digital ways of communication. As a result of this emergence, people wanted to learn about the Metaverse and understand its utility.

Metaverse is a highly interactive three-dimensional virtual world. Just like in the real world, in the Metaverse users can trade land, buildings and other digital assets and explore the space using their personalized avatars. These avatars are replicas of the user who can do anything a person can do in the real world.

Source : https://www.psfk.com/2022/02/samsung-galaxy-debuts-new-products-in-the-metaverse.html

Companies can choose to build centralized or decentralized Metaverses. However, demand for Metaverse-powered blockchain has increased as industries are already benefiting from blockchain technology.

Blockchain technology is also essential to the development of Metaverse and the future of the web is decentralized. This will make blockchain use cases like NFTs and cryptocurrency more impactful than they are now.

Let’s check out a few major industries that are revolutionizing themselves with metaverse:

1. 1. Healthcare- With the use of augmented reality, the healthcare sector is changing drastically. AR has proven to be an essential technology for enhancing the skills and knowledge of medical students.
      A metaverse is a boon tool for healthcare professionals and medical staff who were previously unable to visit patients due to geographical limitations. In the virtual world of the Metaverse, they can interact with the patient and have clear insight into their health condition.
      For example, surgical aids that are supported by technology like Microsoft Hololens help surgeons in various procedures.
   2. Military- In the army domain, the leap forward of AR and VR has been very considerable. Tactical Augmented Reality (TAR) is an era that looks just like night-imaginative and prescient goggles (NVG), its miles coming very reachable to show a soldier’s area in addition to the positions of best friend and adversarial forces. The device is hooked up to the helmet withinside the equal way that goggles are, and it is able to additionally be used at any time of the day or night.
   3. Real estate- The subsequent promising access withinside the metaverse programs listing could factor closer to the actual property sector. Virtual fact is one of the widespread technologies for riding reviews withinside the metaverse. It can provide sensible and immersive reviews to clients, and this power can paintings in want of metaverse programs in actual property. For example, actual property retailers can leverage the energy of VR for imparting immersive digital excursions of residences to buyers.
   4. Education applications- Virtual reality is fantastic because it allows us to explore other worlds and experiences. Wearing a VR headset exposes you to high-quality representations that can positively impact your life. Traditional teaching approaches will never attain such a high level of effectiveness in highlighting concepts through visuals. Regardless of their age, students will always choose to sit and watch something rather than read it. Virtual reality technology is fascinating because it can produce incredible experiences that could never be “experienced” in real life. With the usage of this technology, students will be more motivated to learn.
   5. Manufacturing- As one of the top metaverse technologies, VR applications can help in training employees on safety precautions alongside fostering participation in the simulation of risk scenarios. As a result, metaverse applications can contribute a lot to reducing the risks of accidents. The most popular metaverse applications in manufacturing could facilitate the development of better products in the long run.
   6. Providing the experience of virtual tours- Traveling is adventurous, but not everyone can travel to their chosen destinations. That’s where the Metaverse comes into play, and it allows people to visit places virtually where they can’t go physically. Using the combined power of the Metaverse, AR, and VR, an advanced virtual world is being developed that offers a first-person experience.
   7. Addressing remote work issues- Metaverse has the potential to address all the existing challenges of remote work. It provides managers with a virtual environment where they can meet employees (their avatars), communicate with them, read their body language, and retain in-person interaction. Moreover, the employer can resolve problems like time theft and goldbrick at the workplace by keeping track of the team inside a virtual office.

Some top metaverse projects exist as a result of every industry jumping into its horizon, ensuing in the exponential growth of technology. Major projects are:

1. 1. Decentraland– Gaming metaverse
   2. Upland– Real estate metaverse
   3. Enjin– Multipurpose NFT marketplace

Source : Decentraland

Stay tuned for more about metaverse and next week we will talk about some bizarre things happening in metaverse right now!