In 2021, CEO Mark Zuckerberg introduced the new company brand, Meta Platforms, Inc. (formerly Facebook, Inc.). Meta Platforms, Inc., or simply Meta, already declared an initial USD 10 billion investment dedicated only for Metaverse development. Also, they have successfully received many patents related to using Metaverse users’ biometric data to emerge it into the virtual world they’re creating.
You might be wondering, what exactly is the Metaverse?
The Metaverse is a 3D virtual environment where users can use special gears like an Oculus headset to escape physical reality. It employs virtual and augmented reality to allow users to cross the line between the real and virtual worlds. Think of it as a completely new internet era where users can surf the internet without being obligated to sit in front of a screen. And what can you do with it? The only limitation is the human imagination. You can do anything, from playing games with other users, watching movies, and communicating with each other in a more realistic and immersive way.
According to experts and analysts, the Metaverse will be the next big thing. It’ll revolutionize the internet once and forever. This virtual environment will change how we perceive and interact with the internet and impact all fields, from e-commerce, social media, real estate, and education.
The relation between the Internet of Things (IoT) and Metaverse may be evident now because the greatest challenge for Metaverse is its ability to map data from real-life and emerge it into virtual reality. This data should be accurate, organized, meaningful, secured, and in real-time. While IoT is already in use for many years, hundreds of sensors, cameras, wearable devices, and other devices are ready to be integrated into the Metaverse.
The Metaverse and IoT will power each other. Some experts already call them a technology-twin. While IoT will enable Metaverse to analyze and interact with the real world, the Metaverse will also act as a 3D user interface to the IoT devices, opening the way for a new tailored IoT user experience. Both, Metaverse and IoT will help the world to make data-driven decisions with minimum training and mental energy.
The new virtual world’s market is unbelievably big, and it is not exclusive for Metaverse. Other companies like Microsoft, Nvidia, Autodesk, and Qualcomm are investing heavily in this new technology. The experts forecasted that the Metaverse revenues in 2028 will be USD 828.95 billion.
The big players in the video games industry like Unity Software Inc. and Roblox Corp. are also optimistic about the future of the new Metaverse experience. They are currently focusing and dedicating many resources to innovate new adventures in the Metaverse world. Their investments come in light of the expectations of video games revenue to surpass USD 400 billion by 2028 from USD 180 billion today.
The Metaverse will become a reality maybe sooner than we all expect. And this will impose faster development for IoT devices and services. You better be ready for the new world from now. Keep an eye on the IoT world by visiting www.rpmanetworks.com to know more about our solutions to elevate your business and home efficiency.