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Defining Metaverse for Industrial Companies

Over the last several months, the word "metaverse" has blown up across tech-oriented headlines, spurred in no small part by Facebook's Connect 2021 decision to rebrand as "Meta". Of course, much of the buzz has targeted the consumer (and the abstract), so many executives may be asking themselves: "What is a metaverse and what does it mean for my business?"

In its simplest form the metaverse is an immersive, interactive medium where digital representations of people interact with each other and digital objects in a virtual space. 

A metaverse experience can be almost entirely divorced from the physical world, allowing people from around the globe to engage with each other in fictitious environments, governed by software code rather than laws of nature. 

For example, massive multiplayer video games like World of Warcraft and Fortnite represent primitive metaverses - complete with their own variety of activities, social interactions, events and even economies. WIth virtual reality (VR) technology, these and other metaverse experiences can become more immersive.

Far richer metaverse instances leverage augmented reality (AR) and Internet of Things (IoT) technology to blur the lines between digital and physical experiences, with digital objects and avatars extending into physical space and vice versa. 

Read more about it on our website through the link below!