The best way to predict the future is to create it
The best way to predict the future is to create it. Get an expert insight and join the world’s leading companies on a path to new virtual reality!
Download the reportTable of contents:
- Metaverse Origins
- History and Evolution
- Metaverse - why now?
- Guide to Assessing Macro risks in Metaverse Financial Decision Making
- Metaverse Development
- Most Influential Players and Projects
- Headset comparison
- NFTs and the Metaverse
- Tax Regimes for NFTs? A BDO Perspective
- Industrial Applications
- A Common Standard for Integration
- Ethical Considerations
What is metaverse?
Metaverse will comprise a collection of virtual sharing spaces that work on the combination of Physical Reality, Online Gaming, Augmented Reality (AR), Virtual Reality (VR), Blockchain and Cryptocurrencies. Within, people will likely be able to go shopping, own a pet, work, travel, go to the movies and “eat” out - all the things one would traditionally expect to do in real life.
There is not just one Metaverse, but many in which each setting is tailored to an intended experience.
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On October 28, 2020, Mark Zuckerberg formally announced that Facebook would change its name to “Meta”, underscoring the technology’s potential. A month later, Microsoft announced Mesh, considered to be the natural successor of Teams. Firms like Google and Sony followed suit by “opening up” their respective agendas to the wider community. Amidst public and market speculation, it became apparent that the tech monoliths had charted a new path.
Many expect it to be long-wait attainment, a far future rooted in science fiction. However, the fact is that we are already live amid proto Metaverses, primitive versions of digital environments that will be the bedrock to the next virtual ecosystem. Fortnite concerts, Decentraland real estate, the list goes on – it’s a global phenomenon, conceived as the next step in digitalization, where we do not just “connect” to the Internet, rather, we become a part of it.
The fact is that we already live amid proto Metaverses, primitive versions of digital environments that will be the bedrock to the next virtual ecosystem.
Many expect it to be long-wait attainment, a far future rooted in science fiction. However, the fact is that we are already live amid proto Metaverses, primitive versions of digital environments that will be the bedrock to the next virtual ecosystem. Fortnite concerts, Decentraland real estate, the list goes on – it’s a global phenomenon, conceived as the next step in digitalization, where we do not just “connect” to the Internet, rather, we become a part of it.
By exploring the patterns of today, we wanted to generate market-related insights on the events of tomorrow. We analyzed different sectors, different players, and different strategies, all to give you, a business specialist wanting to support the growth of your company, the ability to see the world as it changes.
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In this report, we synthesize market-relevant stories of metaverse development with the intent of addressing the questions that businesses want answered.
By exploring the patterns of today, we seek to generate market-related insights on the events of tomorrow. We analyse different sectors, different players, and different strategies, all to give you, a business specialist wanting to support the growth of your company, the ability to see the world as it changes.
Our objective is to assist companies in making informed decisions on how to efficiently restructure their organizations, better manage their assets and successfully mitigate the risks that lie ahead.
The future has never been so close, yet there is still a long way to go. At Nextrope, we are frontrunners to the metaknowledge, and this is thanks to a tightly-knitted fellowship that tirelessly works to understand and predict change.
At Nextrope, we believe that the decade’s trials have left us with a trail of techcrumbs, one that organizations need to quickly pick up on should they want to stay ahead across markets.
Key characteristics of the metaverse
Persistent
Continuous and indefinite, analogous to the concept of time. It does not go back, halt or skip forward.
Synchronous and live
It will operate in real-time and be available to everyone.
Inclusive
Removal of limits or obstacles to concurrent users and use, yet at the same time also providing individuals with a personal and distinct sense of presence. Anyone can be part of the Metaverse and partake in all it has to offer, together and at the same time. Hundreds of thousands if not millions will be able to participate in a single moment.
A fully functioning economy
A fully functioning economy: Individuals and businesses are enabled to create, own, invest, sell, and be remunerated for an extensive range of works and services that generate value recognized by others.
An inter-dimensional experience
It reaches both into the physical and digital world, both in public and private grids and in open and closed platforms.
Of enhanced interoperability
Digital possessions, whether items in a videogame or simply data, can be shared across experiences. For example, say you buy a rare sword in “Skyrim”. In the Metaverse, you can share and use this item on another game, say “Assassin’s Creed” and so on. A user can also donate an item through various social media apps. Today that is not possible as acquisitions or possessions are restricted to the experience they are originally intended for.
Contribution-based
The “meta-terra” will be inhabited by “content” and “experiences” generated and controlled by a vast number of operators, which can be private individuals, groups, or corporations.
The Metaverse will be a collection of virtual sharing spaces that work on the combination of:
- Physical Reality
- Online Gaming
- Augmented Reality (AR)
- Virtual Reality (VR)
- Cryptocurrencies
Metaverse Landscape
Most Influential Players and Projects.
At Nextrope, we want to provide a holistic image of what this network looks like, by studying the moves of some of the biggest players out there.
In particular, we analyzed actions and plans of:
- Microsoft
- Meta
- Apple
- Unity Software
- Epic Games
- Nvidia
- Roblox
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Global metaverse market
Key technologies that drive Metaverse development
In the report we focused on the key technologies that drive Metaverse development:
Virtual reality (VR)
Augmented reality (AR)
3D reconstruction
Blockchain & Cryptocurrency
Internet of things
Artificial Intelligence
Augmented Reality and Virtual Reality (AR & VR)
Augmented reality (AR) and Virtual reality (VR) pioneer the immersive 3D experience that consumers associate to the Metaverse . AR necessitates a camera-equipped device embedded with AR software. When the camera is pointed towards an object in its surrounding, the software identifies it through computer vision technology. The device then downloads the information from the cloud. The “digital twin” of the real product is created through applications that can digitalize the physical object.
Get more insights about AR & VRArtificial
intelligence (AI)
Artificial intelligence has widely been accepted as leading the day-to-day operations of many sectors. From the military to banking, the technology can produce results which a human alone cannot.
And now, engineers have envisioned an application of AI to the Metaverse. The rate and scale at which it can collect and analyze data, combined with ulterior machine-based processes can provide an in-depth analysis of a Metaverse ecosystem.
This is particularly important at the beginning of its launch as we learn how digital ecosystems work and how user-experiences change.
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3D reconstruction in a virtual world
3D reconstruction is an alternative to an on-field presence and inability to physically reproduce items. Today it is used, for example, to create recreate properties so that potential buyers may visit without having to book a viewing.
The end goal of the Metaverse is to reproduce the real world. This can be achieved thanks to mulitiview 3D Reconstruction, which enables us to extrapolate a geometrical structure of a landscape taken from a set of images.
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Internet of things (IoT)
The IoT will bridge the details of the physical world into the digital one, increasing the precision with which the virtual sphere reproduces elements of the material one. The most straightforward examples are weather and meteorological conditions which will run accordingly to the actual weather outside – and recreate the “feeling” of seasons. IoT is indispensable to creating a seamless process.
Get more insights about IoT“What the internet is for information, the metaverse is going to do for social connections. I'm no longer bound by physical distance or all these constraints in terms of who I interact with or how I represent who I am. All these things are suddenly unleashed. It's insanely disruptive."
Craig Donato - CEO, Roblox
Industrial Applications
In our metaverse report we focused on:
- Gaming
- Social Media
- Education
- Trade
- E - commerce
- Workspace solutions
- Customer Service
- Fashion
Value proposition of
the Metaverse in industries 1
By exploring the patterns of today, we wanted to generate market-related insights on the events of tomorrow. We analyzed different sectors, different players, and different strategies, all to give you, a business specialist wanting to support the growth of your company, the ability to see the world as it changes.
Download the report
