Metaverse: The next big thing!

Ever since Facebook rebranded itself as Meta, discussions, and debates on what Metaverse is in the trend. Metaverse has suddenly become a major trending topic, even though the concept has been around for a very long. If you have heard the Metaverse term and are wondering what exactly is it, here is your answer.

What is Metaverse?

Metaverse is a term that is formed by combining the two different words including Meta and Universe. It is basically a digital space in which digital objects and things represent the digital people. This environment allows humans to interact socially and economically as avatars away from the real world. It is a hypothesized concept to combine aspects of several technologies including social media, augmented reality (AR), virtual reality (VR), online gaming, and cryptocurrencies. And, enable people to interact with each other virtually.
In layman’s terms, it is a place where you can create and explore a virtual world with other people who are not in the same physical space as you. An opportunity to spend time with your friends, work, play, learn, shop, create, and much more.

“Metaverse is constantly developing, there is every possibility that it will be much grander and more immersive by the time it becomes a reality than how it is being imagined today”.

TECHNOLOGIES THAT POWER THE METAVERSE

To make the metaverse experience more immersive, companies are using cutting-edge technologies like blockchainaugmented reality (AR) and virtual reality (VR), 3D reconstructionartificial intelligence (AI), and the Internet of things (IoT) to power the 3D world.

THESE COMPANIES ARE ALREADY LIVING IN METAVERSE

FACEBOOK

Mark Zuckerberg announced on October 29, 2021, that @Meta — will be the Facebook company’s new name. Zuckerberg said, “We are a company that builds technology to connect. Together, we can finally put people at the centre of our technology”.
Meta is helping to build the metaverse, a place where you’ll play and connect in 3D. Welcome to the next chapter of social connection.

ALIBABA
After Facebook, Alibaba also declared its desire to develop the Metaverse. It has already registered three trademarks Ali Metaverse, Taobao Metaverse, and Dingding Metaverse and, has also registered a new company in Beijing named Yuanjing Shengsheng Technology Co., Ltd. to test the gaming potential of the metaverse, in the latest sign that China’s Big Tech firms are doubling down on what many see as the future of the internet.

MICROSOFT

As computing becomes embedded in the real world, the real world is being embedded in computing — that’s Microsoft Mesh, the metaverse platform. They’re taking that experience and building Mesh right into Teams, recreating a lot of what one values about being together and extending productivity beyond what was previously possible. Mesh for Microsoft Teams introduces a new generation of two-dimensional (2D) and three-dimensional (3D) meetings. How you project yourself in an immersive space really matters. Personalized avatars give you control to customize your avatar and use AI to imitate movements and gestures that enable you to bring your physical presence into the conversation, even when your camera is off.
Read more about it at
 https://bit.ly/Microsoft-Hybridworld

Metaverse — The New Place to Promote Your Fashion Brands

ZARA
Spanish fashion house Zara has taken the leap into the metaverse with South Korean label Ader Error to launch its first collaborative project which explores the metaverse and virtual reality. https://bit.ly/AZ-Collection This Tweet by Zara confirms the same. According to Ader in a release, the AZ Collection is ‘inspired by the identities and uniqueness of all generations from A to Z, blurring the boundaries between the virtual and real worlds, and features the lives of young people who pioneer their own Persona.’
Alongside its physical apparel range, the collaborative project is available through the ZEPETO platform, where users can purchase digital versions of the clothes and makeup for their avatars.

BALENCIAGA X FORTNITE
“Balenciaga has already been present in the metaverse for a year, mostly through incursions into gaming. Now they are introducing an entirely separate unit dedicated to this business” More recently, the brand ventured back along the same path with the creation of a series of virtual looks for Fortnite, the wildly popular online game that attracts some 10 million players each day. The effect of this launch was once again felt on Lyst, where searches for Balenciaga jumped 49%.

GUCCI X ROBLOX

Roblox to come up with a new category called “Metaverse Design” in association with Gucci. The gamers can buy exclusive outfits on Roblox. Recently, a digital Gucci bag sold for US$4,000 on gaming platform Roblox indicating that virtual fashion could well become a million-dollar industry!

NIKE X RTFKT
Sneaker enthusiasts can try on the new pieces from the Nike range, but they cannot be worn in real life. Entering the virtual NFT world, the sneaker giant acquired the digital sneaker brand RTKFT on 14 December 2021.RTKFT launched a virtual “try on” session of the sneakers on Snapchat, after which bidders could enter the digital auction. The winners were given the physical shoes, but the real coveted asset remains the digital ones.
Ever since RTKFT studios shared the news of joining the Nike Inc. family, its craze has increased exponentially. Many of their virtual shoes have strong resemblances and are inspired by Nike signatures like Air Jordan 1 and Air Force 1.

“This acquisition is another step that accelerates Nike’s digital transformation and allows us to serve athletes and creators at the intersection of sports, creativity, gaming, and culture,” Nike President and CEO John Donahoe said in a release. “We’re acquiring a very talented team of creators with an authentic and connected brand. Our plan is to invest in the RTFKT brand, serve and grow their innovative and creative community and extend Nike’s digital footprint and capabilities,” the release reads.

“While the metaverse is still under development, many companies are already exploring its potential and is clearly a space to watch. But for now, it only attracts a niche crowd. We have to wait to know how long will it take before the full vision becomes reality at scale. We will likely see exciting new features in these virtual, borderless worlds. However, while the technology that will support individual metaverses is still under development, companies that can afford it are using existing online gaming platforms as a way in”

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