According to a World Economic Forum report, 71% of executives say the metaverse will be good for business. Another 42% see it as transformational.
That’s why major companies like Meta, Microsoft, PwC, DXC Technology, and others are investing in virtual worlds for their staff and clients.
The experiences these companies are designing are focused on corporate collaboration and alignment across distributed geographies and advanced client solutions, including innovation of products and services.
They differ from experiences created by brands like Bloomingdale's, which created a virtual department store with designated spaces for brands like Ralph Lauren and Nestlé Nespresso SA. Those experiences are designed to provide interactive retail shopping and brand evolution.
That’s because there are two main #metaverse models: consumer and enterprise. The enterprise metaverse leverages cloud technology to provide consumers with improved experiences, flexible and transparent supply chains, data-driven business strategies, and the complete potential of the internet of things (IoT). This metaverse extends to industries such as consulting, manufacturing, and healthcare. Its spaces may feel like typical offices or creative spaces for corporate activity.
The consumer metaverse includes digital spaces where people shop, trade, travel, and interact with one another. It’s immersive and VR-driven, like the enterprise metaverse, but may provide multiple brand interaction opportunities.. For example, in the Decentraland marketplace, visitors can buy and sell land. High-end fashion lovers go to the Gucci Vault to dress their avatars.
Across consumer and enterprise metaverses, the underlying technology and levels of interactivity are similar.
Extended Reality Experiences: Virtual and augmented reality technologies create immersive digital environments where users can interact with virtual objects and each other.
Avatars: Metaverse interaction occurs in avatar form. Users create digital identities and avatars that represent them in the virtual world, allowing for personalized experiences and social interactions. Virbela has just released a fully updated avatar system that advances digital identity and organic interaction.
Social Interaction: The metaverse in all its forms promotes collaboration and socialization among users, whether for entertainment, socializing, or business purposes.
Cloud Computing: Cloud computing stores and processes vast amounts of data and provides users with a seamless experience across different devices and platforms.
While the consumer and enterprise metaverses have different goals and target audiences, they share foundational technologies and features that enable them to create immersive digital environments and experiences.
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