keys to understand its impact

The Metaverse concept has evolved to become the next step in the transformation of the Internet, where a projection of a universe parallel to real life emerges through a combination of Virtual, Augmented and Mixed Reality. From Softtek, a company that provides next-generation digital transformation services and solutions globally, they analyze the keys to understanding the impact that its arrival can generate in terms of the economy, consumption and society.

The tireless search for disruptions around digitization and virtualization and the advances experienced by digital connectivity and the development of Extended Reality have given rise to the creation of the Metaverse, a projection of a parallel, open, creative universe, without limitations. and persistent, made up of virtual worlds, replicas of existing physical spaces and hybrid environments. Its main characteristics are:

● 3D virtual spaces: users will use interactive and personalized 3D avatars.

● Immersive: an unprecedented immersion between the virtual and physical worlds will be achieved.

● The next generation of devices: will be accessible thanks to the next generation of smart devices with augmented reality.

● Purchase of virtual objects: Certain virtual items such as NFTs will be purchasable and owned by users for use throughout the metaverse.

The infinite possibilities offered by the Metaverse make it the ideal ecosystem to exponentially promote processes of experimentation, innovation and co-creation, which will translate, on the one hand, into the redefinition of the value proposals of multiple organizations and the creation of new business models based on hybrid and highly personalized interactions, and, on the other, on a new range of experiences for consumers at a global level, who will see how they can easily establish deep and bidirectional connections with all the actors involved.

All these potential benefits have not gone unnoticed by leading companies in innovation, which are already promoting initiatives within existing platforms or creating new virtual worlds of their own. The opportunity to generate new revenue streams, diversify their business models, optimize certain corporate processes and evolve the way they interact with their customers is unbeatable, which is why corporations from various sectors (Gaming, Media, Telco, Social, Ecommerce , Digital Property, Cryptocurrencies, etc.), are already forming a productive fabric that will expand exponentially, with the potential to become a fully integrated universe in the lives of consumers, as they integrate the Metaverse into their daily routines, integrating interactive, immersive and sensory experiences in their Journeys.

The concept of the Metaverse has evolved to become the next step in the transformation of the Internet

“There are many business disruptions that digitization and virtualization have generated in recent years. This constant evolution seems to have reached a significant turning point thanks to the Metaverse; an ecosystem that will drive exponential innovation and co-creation processes, generating new products, services and business models, and above all, will provide companies with the opportunity to design hybrid and radically different experiential interactions”, says Daniel Palacios, Head of Digital Innovation Softtek EMEA.

The Metaverse is in an early stage of development and its regulation still has many aspects that need to be defined. However, the absence of clear regulations is not hindering its evolution, and the next question to be resolved will be whether there will be a single Metaverse or a set of them.