Ian Khan

The metaverse is ultimately a three-dimensional medium of communication or a channel. Within this channel, there are many elements. The most defining one is an artificially created 3D environment. Providers have created various 3D environments that are referred to as metaverse platforms. ©Horizon WorldsGaming on the Horizon Worlds metaverse platformThese platforms offer different levels of interactivity and experience.

Video gaming experiences in the metaverse are at an early stage of development. Developments and improvements in hardware and software technologies will significantly ramp up the quality and overall visual appeal of metaverse environments. ©Peopleimages.com / Adobe StockExperiences will become more vivid, and activities, such as skiing, hiking, and surfing, can all seem very real with hardware that’s custom-built for these activities.

When assessing what the metaverse can do for business, I look at tangible benefits and consider the steps a business needs to take to integrate the metaverse into their workings. ©Supamotion / Adobe StockHere are some of the tangible benefits the metaverse can provide for businesses: A new channel of engagement to connect with younger audiences Speed of delivery for products and services Ecommerce enablement for metaverse-based customers High-resolution digital experiences Ease of deployment and creation of digital engagement Elimination of the need for in-person availability What industry analysts are saying Most industry analysts agree that the metaverse has a tremendous amount of potential.

The term metaverse refers to a general category of 3D worlds, mostly accessible with virtual reality (VR) headsets, that you visit and interact with in real time. Metaverse providers, such as Decentraland, Horizon Worlds, The Sandbox, and many others, have already created 3D worlds offering communities, entertainment, and a host of activities you can participate in with other users.