Exciting Things To Expect From The Metaverse

Michael Alf, a virtual events pioneer discusses four things that can be expected from the Metaverse as the concept, is catching wind across the globe

By
Opinions expressed by Entrepreneur contributors are their own.
You're reading Entrepreneur India, an international franchise of Entrepreneur Media.

Last October, it was revealed that Facebook would have a new name - Meta. It will be a new virtual world spearheaded by Mark Zuckerberg its CEO. Since the announcement, an outstanding level of attention has been given to the Metaverse. But what is the Metaverse? What are the possibilities that exist in this future, and what can we expect moving forward?

Handout

Michael Alf is a virtual events pioneer who has been at the forefront of these technologies for over a decade. He shared the four things one can expect from the Metaverse moving forward.

There is more than one Metaverse

The Metaverse is not a new term. It has been around for years, but it has been brought to the spotlight following Facebook's name change. The Metaverse represents the future of social connection. It would appear that there is only one Metaverse, and many people have bought into this notion. However, Michael Alf thinks that it might not be the case.

To better grasp the Metaverse concept, one should consider it as sub-metaverses that will serve specific markets such as gaming, enterprise, industries, and more. Another misconception about the Metaverse is that it will have to be tied closely to Virtual or Augmented Reality (VR/AR), but this is not the case either.

The Metaverse is a digital representation of parts of our physical world and lives. There would be many versions of metaverses that will come in all colors and forms.

It will be a gradual approach

Similar to the VR/AR world, many people are not ready to embrace or venture into the metaverses. It has many possibilities, such as being an excellent environment for games.

While some people support these new experiences, a large majority are still behind. Michael Alf expects a gradual acceptance of the different metaverses. Some will be simpler experiences with 3D visuals but without the need for VR glasses or avatars. Others will go "full-in" straight away.

Companies have to embrace the new way of living and working

While onboarding the Metaverse will be a gradual approach, it should be noted that this movement cannot be stopped. The future of work involves working in a hybrid setting. The Metaverse will be able to support this new working style effectively. Since many young people are interested in the companies that follow this new way of working and interacting, organizations should follow this working structure, especially if you want to attract and retain young talent worldwide.

Michael suggests that one should take an early start and learn as you go about how the new way of work would impact your organization.

Hybrid Events and Metaverse are a perfect blend

Since the global pandemic, most events have been digital. People have been accustomed to the new ways they can conduct events and meetings, and this is where the Metaverse fits perfectly. The Metaverse allows you to expand the room further and the options available. Now one can pick between having a meeting in a classic digital setting or a Metaverse environment. Plus, one can have a more hybrid experience by blending them with the physical experiences.

The opportunities are limitless, and the days ahead are exciting.