Metaverse is the latest buzzword that has been capturing the imagination of the tech industry and holds significant potential in creating tremendous growth opportunities for marketers by allowing them to deliver advanced immersive and interactive digital experiences to their customers. Metaverse, simply put, is an integration of immersive presence in a virtually interactive self-sufficient ecosystem of mobile networks, augmented reality, social media, gaming, virtual reality, ecommerce, cryptocurrency and work environments. This universe is being envisioned as the future of the internet, involving the convergence of augmented reality (AR), virtual reality (VR), and physical worlds in a shared digital space. NFTs and online events are booming creating a universe of opportunities for the metaverse and related technologies.
The Transition to Metaverse is imminent. Several components and facets of this open-source platform have advanced to a stage where they can be seamlessly integrated to explore the possibility of creating a parallel virtual world. NFTs and online events are booming creating a universe of opportunities for the metaverse and related technologies. With the pandemic giving a much-needed impetus to a changing global perspective of interaction and immersive socialization, the conversation around metaverse has re-emerged and with the likes of Meta, Google and Microsoft joining the bandwagon, the dialogue got stronger and is headed towards actualization in terms of rising interest in funding projects, expanding outreach of technological collaborations, changing paradigms in market place, and an overwhelming response from users. Being technologically nascent, no company exerts major influence as on date and the race to dominance has already begun with companies investing in multiple metaverse projects, acquiring few on their way to the finish line and engaging in deep learning and research in the domain.