Rise of the metaverse

Most people at that time could not relate to what he was saying. Today, most of us have become very dependent on this intergalactic computer network.

In the second phase, the Internet, through the liberalisation of its purpose and intent, led to the birth of the digital and networked economy. Using concepts such as cyber physical systems and interactions, the current phase offers unprecedented opportunities to businesses and societies, by providing deeper and more meaningful experiences, driven by seamless connectivity between people, processes, data and artefacts. The Internet continues to evolve, from the Fourth Industrial Revolution and as we move into the Society 5.0 dimension.

Through the use of dedicated hardware, headgear, devices, and high-speed Internet connectivity, the metaverse allows users to have experiences of the physical world while interacting in the digital world. This suggests that just like what happened to the ecommerce “dot-com to dot-gone” phenomenon, the metaverse, if and when blended well with business strategy and social ideals, may be here to stay.Forbes in a recent article suggests that several industries will be transformed by the metaverse. First is the video gaming industry.

In this context, media and entertainment magnets such as Disney are strategising ways to offer global consumers more immersive experiences of events and content in the metaverse setting.The ecommerce and retail sector seems to be benefiting from the metaverse too. Automakers such as BMW are using metaverse principles to run a full production cycle using simulation.

We have quickly adjusted to online and distance learning. Early adopters such as the Inspired Education Group in the UK have launched a pilot virtual reality and metaverse technology to allow immersive learning experiences for students.

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