By 2026, 25% of the world's population will spend at least one hour a day in the metaverse , this prediction is from the Gartner Group – an American research and consulting company. But, after all, what is the metaverse?

The term has been appearing more and more in the media, especially after Facebook announced its name change to Meta and invested BRL 277 million in building its own “world”.

Origin of the term

But, the concept of metaverse is a bit older and first appeared in the last century. In 1992, author Neal Stephenson created the term in his novel Snow Crash, published in Brazil as “Nevasca”.

The plot of the book takes place in a dystopian society, where inhabitants to escape reality use the metaverse to live other lives. The work makes a prediction that the metaverse will be the successor to the internet, as we know it today.  

How does the metaverse work?

The metaverse is a generic name for the set of extremely realistic virtual worlds , which already exist and grow every day. In them it is possible to create an avatar and do everything that a human being does in their common routine:

  • Build a house;
  • Go to the mall;
  • Attend a concert by a famous artist;
  • See a movie at the cinema;
  • Work in the office;
  • Follow classes;
  • And much more.

The list of possible things within the metaverse is endless, since the experience generated in these worlds allows you, for example, to visit other countries while studying about them or talk to native people from other places to learn a new language. 

Of course, the devices used to access the metaverse make a difference to the experience, it is possible to access it via cell phone, but when using a 3D reality glasses, the feeling of “entering the internet” becomes more realistic.

We've seen similar things before, like Second Life in 2003, however, current technology allows the metaverse to offer much more to its users: augmented reality; cryptocurrencies; social networks; internet getting faster and faster, etc.

Listen to the episode in full by clicking here !

Metaverse and the new reality

The Metaverse according to Walter Longo

In an interview with Sky.Cast , the specialist in innovation and digital transformation, Walter Longo , spoke about what metaverse is and the future of this technology. According to him, this concept is part of web 3.0, which is focused on the power of users.

In the metaverse we leave everything we can be and go to everything we want to be, because in it this is possible. For Longo, the ideal now is for people to throw themselves enthusiastically into this new reality.  

However, there is still a great challenge for the metaverse to flow quickly: the interconnection of worlds. Currently, the worlds do not talk to each other, functioning more like islands, and if this interoperability takes time, the metaverse may delay its expansion.

Business in the Metaverse: The Future of Business

If the world changes, business changes too. And if people are going to the metaverse, companies need to adapt to be present in fictional worlds.  

As in the real world, it is possible to advertise in virtual reality: billboards, marketing campaigns, stores in virtual malls, sponsorship of events, all known strategies can be replicated. 

But, before thinking about advertising within these worlds, organizations need to understand that the current moment is about solving customers' dreams, not more of their problems. 

Therefore, the offer of solutions must be innovative and must follow the tripod: simplicity of products and/or services, flexibility of processes and individuality of the relationship with consumers. 

These concepts are only achieved with a good technological infrastructure and for that a company has to invest time, money and focus in the technology area. The metaverse is a good place to venture.  

A new challenge for retail

Walter Longo pointed out in his speech that the metaverse brings a new challenge to retail. Brazilian e-commerce grew by 75% during the pandemic – according to Mastercard research – and this meant that physical stores needed to reinvent themselves.

Thus, the focus of the physical units was the experience : only by going to a physical store could you touch, see and feel a product.

The metaverse appears as an alternative to this, as it can offer the same experience. And now it's up to retailers to find out what the future of physical stores will be with the advance of the metaverse.

Learn about the metaverse at Connect 2022

Sky.One Sky.One company focused on the digital transformation of business , in other words: we develop platforms to accelerate and increase the processes of several companies.

That is why it is promoting, for the third consecutive year, the Sky.One Connect event , focused on content for people passionate about digital transformation.

In the 2022 edition, topics such as the democratization of technology, cybersecurity, culture and people, transformative experiences , among many other topics that will be addressed by guest speakers, including Walter Longo himself.

And of course, one of the main focuses of Connect will be the metaverse! 

During the discussions, information technology specialists will address how this new reality will impact business , the technologies that all entrepreneurs need to know and will give tips on the subject.

Watch the video below to learn a little more about the metaverse:

Written by

Sky.One Team

This content was produced by SkyOne's team of cloud and digital transformation experts.