What Is the VR Metaverse and What Is Its Potential

With Mark Zuckerberg’s recently expressed aspirations to bring the virtual world to a new level, the concept of the Metaverse has resurfaced in the technology industry’s agenda. At its core, Metaverse isn’t something new, nor is it a product of Meta (or what we are all aware of as Facebook). It’s a simulated, 3D Virtual Reality world that often relies on various technologies, including Virtual Reality. Whether you’re a business owner seeking new opportunities or a curious reader, this article will shed light on what VR Metaverse is and how encouraging it is.

What Is a VR Metaverse

A VR metaverse is a digital world facilitated by Virtual Reality devices. Notably, the Virtual Reality world doesn’t equal Metaverse reality. These are different terms with unique features. Confusing as it might seem, worry not – the last section will clarify things and help you better understand the terms and their peculiarities. For now, let us put it this way. Unlike the Metaverse in its broader sense, which is available to nearly everyone having a smartphone, laptop, or console, a VR Metaverse relies on VR technology and can’t be launched without a specific gear.

Potential of the VR Metaverse

Virtual Reality has been a neophyte in Metaverse, with its market size showing a steady increase, expected to double by 2024 and reach more than $12 billion. While a seemingly insignificant number, mainly compared to the Metaverse’s $14 trillion market cap, the potential of Virtual Reality in Metaverse is hard to underestimate. The great thing about metaverse Virtual Reality is that numerous fields can take advantage of it. Here are industries that can hugely benefit by using Metaverse VR:

• Education: Academia is among dozens of areas that can profit from the VR Metaverse. It allows for pre-creating the environment with the best educational practices to ensure every student obtains essential skills. These are confidence, creative innovation, critical thinking, communication, and content.
• Business: The VR Metaverse provides enterprises with promising business opportunities and empowers them to pave the way to new fields. It also allows companies to think innovatively and develop and implement novel approaches, including adopting digital and NFT assets and Defi technologies.
• Games: Entertainment has been at the forefront of the Metaverse, but not the Metaverse that employs VR technologies. The gaming industry has not yet entirely delved into the VR Metaverse. Games are more complex technology-wise, requiring proficient hardware to realize their full potential. Still, we can anticipate games built upon the VR Metaverse soon.
• Services: It is expected to see various services available in the VR Metaverse. Upon wearing a VR headset, dealing with different paperwork or taking a city tour will be an arguably elementary and quick task. Seoul is the first city to float into the Virtual Reality Metaverse. And clearly, it will only motivate other governments to follow its lead.

Main Characteristics of the Metaverse

The Metaverse is flexible cyberspace characterized by six features. Below are things that define Metaverse reality:

• Freedom: The virtual world allows people to dive deep into personal fantasies about what they would like to be in a different life. The Metaverse provides a gateway to various things that are often hardly possible (or even impossible) to change in the real world.
• Accessibility: Anyone can enter the Metaverse with a device, whether a smartphone, tablet, or PC. Yet, such a digital world is centered around Web2, which doesn’t require using specialized accessories for a better experience.
• Absorption: For the simulated world to be lifelike, the Metaverse utilizes accessories that let users immerse themselves in the digital environment. Things like VR headsets engage people’s hearing and sight and let the Metaverse provide a real-world Virtual Reality experience.
• Economy: Similar to our world, the Metaverse relies on currencies to make the digital environment more diverse and engaging. Popular games like Roblox and Fortnite, as well as other massively multiplayer online role-playing games, have unique currencies users can spend on unique skins, items, or experiences.
• Community: Typically, the simulated environment makes its users interact in one way or another. People exchange thoughts, team up in groups, brainstorm strategies, and improve their social skills.
• Reality: The virtual world goes beyond a mere game that often revolves around the player. In the Metaverse, it works the other way around: Whether you go offline, the Virtual Reality keeps functioning. This concept gives a strong impetus for the industry to make its advancements never-ending.

Essentials to Indulge in the VR Metaverse

Virtual Reality comprises accessories to improve users’ experience in a simulated world. Depending on the Metaverse and what experience it aims to deliver, the choice of devices will vary. Overall, the VR headset is the thing without which entering the digital world would be impossible. Whether you want to spend some time communicating with others or playing a video game, securing the VR headsets is a must. There are various brands to fit your needs and budget. Quest 2, for instance, has proven to be an excellent VR headset for games, being a top choice for Steam users.

Should you plan to engage in more profound activities and thus need additional devices, consider getting a gamepad or even gearing up with full-fledged haptic body suits or omnidirectional treadmills. These will let you move, jump, sense hugs, handshakes – everything to get the best VR real-life experience.

Metaverse vs. Virtual Reality

Virtual Reality and Metaverse may look synonymous. Although one can improve another, the terms are standalone and should always be distinguished. Here are the main dissimilarities between Metaverse and Virtual Reality.

Definition

First and foremost, Metaverse and Virtual Reality are different in definitions. Metaverse is an open digital environment allowing anyone to enter and explore it. In turn, VR is the technology used to design simulated worlds with a particular focus on sensory feelings like touch and sight to make them real life in Virtual Reality.

Experiences

Experiences provided by the Metaverse and Virtual Reality are also different and serve as another distinguishing aspect. The Metaverse is limitless when it comes to locations and experiences. Take World of Warcraft, for example. It revolves around a fictitious universe with multiple places users can visit. In contrast, VR is restricted in users and locations, which provides significantly less experience.

Ownership

The subject of ownership is also a factor that makes the Metaverse and Virtual Reality dissimilar. With the Metaverse striving to become a separate world, the question of ownership is pretty straightforward. Anything you get in the digital world is yours, which you can trade and convert into tangible goods, including fiat currencies. However, apps and games that use Virtual Reality own the entire product, so the only thing that remains in your possession is the VR headset you buy.

Persistence

As mentioned earlier, the Metaverse is persistent, i.e., it continues to exist even if you exit the digital environment. Your avatar will be offline, but the virtual life in the world will go on. Conversely, the VR system resembles single-player game simulators: once you close the application, the 3D world disappears until you turn it on again.

Technologies

The difference in technologies between the two systems calls for particular attention. Advances in Virtual Reality hinge upon the progress made by this industry. The Metaverse is more decentralized and adopts different technologies, including Virtual and Augmented Reality, crypto, and blockchain. Besides, the Metaverse expectations are ambitious. It’s open for developers, allowing them to expand the industry, experiment with cutting-edge technologies, and add new features to the digital environment.

Wrap-up

VR Metaverse may not be among the most adopted systems in 2022, but it will likely hit the scene in the following years. With the development of VR technologies and the rising popularity of the Metaverse, nothing seems to prevent businesses from mixing Metaverse and VR to get higher profits. After all, VR provides full immersion, the thing the Metaverse may often lack. And this may be the most potent argument for businesses to utilize both systems together.

As a brand owner, you want your users to get a top-tier experience when exploring your product. Whether you have a product and wish to improve it or have something in mind that considers the use of VR, you’ve reached the right place. Write to us at hello@wear-studio.com and describe how you envision your product. Let WE/AR experts help you realize your business goals.