Use of Metaverse in Media, Education & Marketing
The World Of Virtual Reality- ‘Metaverse’ has an influence on nine different businesses. Previously, we have covered the Use of Metaverse in Gaming, E-Commerce, Interior Designing, Manufacturing, Real Estate & Healthcare. We are here to unveil the next 3 to you. There is more to enlighten about in future postings.
Media
The impact of technology on media content is apparent. The use of the Metaverse in media platforms improved social interactions, provided more immersive experiences, and raised the consumption and visibility of media content. The Metaverse provides a permanent stage for many artists to perform in a realistic environment. Virtual performances have been employed by artists to compensate for losses incurred as a result of the COVID-19 outbreak, lockdowns, and social distancing constraints and norms.
Virtual concerts were held by artists such as Imagine Dragons, Travis Scott, Muse, BTS, and Post Malone, among others, throughout the testing period. Metaverse will boost users’ visibility and freedom while also giving artists access to a much wider audience. The recent and fast popularity of Non-Fungible Tokens (NFTs) and the Metaverse is helping to monetize media content, photos, art, and a significant number of content ranging from films to other programming. Filmmakers and studios are quickly adapting the technologies used to construct the Metaverse to create digital collectibles that will provide consumers around the world with enhanced experiences. Metaverse also expands the potential for immersive narrative and enhances the 3D and 4D movie-going experience.
➟ In 2022, T-Series partnered with Hungama’s HEFTY Entertainment subsidiary to enter the Non–Fungible Tokens (NFT) ecosystem. Both companies will collaborate to develop the ‘Hefty Metaverse,’ in which Hungama would manufacture NFTs and other collectibles based on their combined catalog of two lakh songs, 65,000 music videos, and more than 150 films in multiple Indian languages.
➟ In 2022, Qualcomm announced the launch of a USD 100 million Metaverse fund to help firms working in Extended Reality (XR), Artificial Intelligence (AI), and Augmented Reality (AR). The ‘Snapdragon Metaverse Fund’ is the name of the investment initiative, and the money will be used to fund a grant program for developers creating extended reality-focused media and entertainment, gaming, and health and wellness experiences.
Education
Educational institutions are using the metaverse to establish virtual campuses or classrooms, allowing students to interact with faculty and classmates in a variety of settings based on their choices. Metaverse education can bridge the gap between the physical and virtual worlds using Augmented Reality (AR), Virtual Reality (VR), and other related technology. Students can communicate with and interact with a presidential avatar who is seated far away from the teaching location. In the metaverse, a mix of cooperation and communication will be critical in selecting what content should be available in the virtual world to best assist learning.
The ability of the metaverse to ‘gamify’ learning is one of the greatest potential benefits of the metaverse in education. With its emphasis on teamwork and job completion, the virtual world may make school feel like a video game, with classes arranged like quests to encourage pupils to complete their work. In the future, practical tasks like wiring a plug, installing a drain, and even advanced medical skills like surgery may be taught using Virtual Reality, consolidating learning without the risk of real-world consequences.
➟ In 2021, Meta (formerly known as Facebook) partnered with Coursera and edX to promote the Spark AR Curriculum of Meta using augmentation and virtual reality.
➟ Microsoft Mesh is a mixed reality platform that allows students, educators, and staff to interact with one another through lifelike 3D avatars. By the beginning of 2022, Mesh will be a cloud platform based on Azure that will allow users to construct collaborative mixed reality apps across several devices. Students wearing Microsoft HoloLens smart glasses may participate in the immersive classroom, while others without virtual reality headsets or glasses can still view avatars via the Teams video conferencing grid.
Marketing
Metaverse is exploding in the new era, and it will certainly be one of the most important future playgrounds for the digital advertising business. Metaverse Marketing is moving away from traditional advertising and toward creating brand encounters that are more immersive, exciting, and less obtrusive. Due to its immersive digital experience, ‘Meta Ads’ is likely to attract a higher level of audience involvement. Brands can now construct fully immersive and interactive virtual venues, universes, and locales from the ground up using 3D virtual reality technology. To transform business and marketing perspectives, it will be a platform for creating, discovering, recognizing, expressing, connecting, and socializing. Virtual and augmented marketing methods have been used by firms throughout the world, from digital clothes to concerts, showrooms, and collectibles.
Major firms such as Walmart, Nike, Disney, Microsoft, and Facebook are creating virtual communities, content, assets, fashion, art, experiences, and worlds. Both actual and virtual worlds may live under a new economy, environment, money, and behaviors. Virtual World Interactive Live Event, Fashion Exhibition, Virtual Music Show, Virtual World Digital 3D Showroom, and Avatar Models for Brands are the methods for brands to get engaged in a metaverse advertising strategy, including the virtual display and in-game advertising.
➟ In 2022, Nike unveiled ‘Nikeland,’ a virtual environment based on the Roblox game platform. Nike has constructed buildings, fields, arenas, and sports facilities all over the world where people can compete in sporting mini-games. Users may even dress up their avatars in Nike gear and browse the latest Nike real-life collection in a virtual showroom.
➟ In 2021, Gucci hosted a two-week virtual collection display called Gucci Garden on Roblox, which attracted over 19 million visitors. The Collector’s Room lets people gather limited–edition Gucci products, which they can then use to dress their avatars in Gucci’s hallmark collection in the Metaverse.
Data Sources: Forbes, Emergence Research, Inc42, Evelyn learning, and many more
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