Topics In Demand
Notification
New

No notification found.

Equipping Metaverse To Create The Best Business Opportunities
Equipping Metaverse To Create The Best Business Opportunities

231

0

 

Web3 is emerging, and two of the most popular web3 technologies are known as Metaverse and NFT. Businesses are looking forward to contributing to the web3 space, and the adoption rate has become significant.

What Is A Metaverse

Metaverse, a web3-based virtual world created by combining key technologies, has become popular these days. But what exactly is the metaverse? Well, there are several answers present in tons of web articles online.

Metaverse Use-Cases

Metaverse creates opportunities for a wide range of business verticals globally. Companies like Google, Microsoft, and Facebook are developing different use cases to utilise the metaverse in the best way possible. 

Here are some of the prominent metaverse use cases of the 21st century:

Gaming 

The gaming industry has seen the most technological adventures over time. The latest comes in the form of a web3 product metaverse that has the potential to lead the industry in an all-new direction. With metaverse, users can now create and customise virtual avatars without restriction and hassle. Apart from data security, metaverse has a lot to offer to the gaming industry, and innovative gaming industries like play2earn and move2earn are among them. Users can now earn money in real-time by playing games online. These earning games are different from traditional games as they offer real-time earnings. 

Education

Metaverse in education is going to transform the education industry for good. The traditional learning practices, like mugging and memorising important concepts, will disappear forever. The educational metaverse allows you to understand the concept better with next-gen audio and video learning experience. It can be easily understood as a 3D rendering of a concept with utmost reality. Subjects like medical education and engineering concepts are now easier to understand with an immersive 3D explanation. Additionally, core education like k-12 Learning will transform with metaverse technology. 

Real Estate

Metaverse in real estate is widespread nowadays, with Dubai being the leader in real estate and metaverse solutions. Metaverse in real estate now allows individuals to create 3D demonstrations with an immersive experience that feels more real than reality. The metaverse is also created with crucial technologies like AI/ML and AR/VR/MR that helps in creating virtual solutions like interior designs and much more. 

Healthcare

The Healthcare Sector is one of the most data-driven industries. This sector lacks pace regarding the practical application of different strategies. For instance, In the US, one of the developed nations, the healthcare system has a lot of intermediaries, and thus it lacks the required pace. Metaverse in healthcare has the much-required potential to uplift the healthcare sector and pace up the system. Users can get an almost instant treatment facility, and insurance claims will be faster in developed nations where healthcare is costly.

E-commerce 

Metaverse in e-commerce is one of the most awaited developments in digital spaces. With the pandemic, users got to experience fully digital e-commerce and thus realised the potential of technology in the digital commerce space. Users can now shop from anywhere and everywhere with the help of virtual avatars that are designed to represent the user in the most realistic manner possible. They can try on different items and have an idea of how the product will look at them before actually purchasing. 

Virtual Tourism

Tourism space is also in line with metaverse developments worldwide. A new term has been pounding on the doors of tourism businesses, and that promises resounding developments in the tourism space. Metaverse in tourism can create wonders. Close your eyes and assume visiting the famous Taj or Statue of Liberty sitting at your home with a realistic experience and immersiveness as ever. That sounds holistic. We are developing aggressively in the tourism space and look forward to transforming the space.

Why NFT and Metaverse Is A Deadly Combination?

NFT stands for Non-Fungible Tokens, which refers to the digital tokenisation of natural-world objects. With the help of blockchain technology, users can now create digital tokens representing physical rare and unique assets. These non-fungible tokens can then be listed on an NFT marketplace to facilitate trade among different parties. NFTs have gained massive popularity these days, and despite the crypto winter, NFTs have successfully sustained the market without getting compromised. Metaverse and NFTs are considered to be a powerful combination that can transform businesses to a large extent.

 


That the contents of third-party articles/blogs published here on the website, and the interpretation of all information in the article/blogs such as data, maps, numbers, opinions etc. displayed in the article/blogs and views or the opinions expressed within the content are solely of the author's; and do not reflect the opinions and beliefs of NASSCOM or its affiliates in any manner. NASSCOM does not take any liability w.r.t. content in any manner and will not be liable in any manner whatsoever for any kind of liability arising out of any act, error or omission. The contents of third-party article/blogs published, are provided solely as convenience; and the presence of these articles/blogs should not, under any circumstances, be considered as an endorsement of the contents by NASSCOM in any manner; and if you chose to access these articles/blogs , you do so at your own risk.


images
Tarun Singh
Associate Manager

Growth hacker with experience in building, maintaining, and running successful digital marketing campaigns. Bringing forth broad marketing knowledge, coupled with focused campaign experience -Adept at creating and implementing client-centered, successful campaigns, aimed at improving brand awareness and presence and promotional value. Developing and implementing marketing campaigns, using email marketing strategies, and leveraging social networks to achieve digital marketing goals.

© Copyright nasscom. All Rights Reserved.