Understanding what the Metaverse really is

Understanding what the Metaverse really is

by | Business, Construction, Corporate, Education, Marketing, Virtual Events

Do we really understand what the Metaverse is?

There’s been lots of discussion about the Metaverse in the last year or so, with businesses scrabbling to stake their claim in it, but it’s clear that it’s still very unclear to many what it actually is. While many technologists may have a good handle, in their own mind, as to what it’s about and the possible future applications, the rest of the world still don’t really understand what the Metaverse is, and what it really means.  Many don’t know what impact it’s likely to have on our daily lives personally or professionally.

“There has been, and will continue to be “a growing focus on integrating the digital and physical worlds using the Internet.” 

Verified Market Research

Frequently asked questions

There are lots of questions, and here are a few that we’ve heard more than once so you’re not alone if you’ve asked yourself any of these…

  • What is the Metaverse?   
  • Is it owned by Meta (previously known as Facebook)?  Or is it owned by someone else?
  • Is it a game like Minecraft, Roblox or Fortnight?
  • Will we all start walking around with VR headsets on and have chips in our arms?!

In short, there are many questions unanswered and many developments continually unfolding. However, the Metaverse is not something that’s going to happen overnight, but change is most certainly coming and it is important to recognise how it will affect our lives so we can use it to shape our future. Here’s our (hopefully simple) take on what the Metaverse is and what it is likely to mean for us as a species moving forward.

What does it all mean?

First let’s look at the wording.  The word “Meta” is derived from the Greek μετά, which encompasses a wide array of meanings, such as “with”, “after”, “alongside”, “on top of”, “beyond” and “greater than” (BBC, 2021). The word “Metaverse” was first coined in 1992 by Neal Stephenson in his science fiction novel Snow Crash, where two parallel worlds – physical and virtual, exist as one.

What the Metaverse will actually be in the future hasn’t been decided yet and it will be guided by technological advancement and its subsequent adoption (or not) in the world. However, if we were to use the information available right now and the technology being used, the widely recognised definition of the Metaverse is as follows:

The Metaverse is… “A persistent (always on) simulated digital environment with a blend of augmented reality (AR), virtual reality (VR), mixed reality, Blockchain, and other technologies. These technologies are used to develop highly immersive 3D virtual world experiences for an unlimited number of users. The Metaverse enhances the internet experience by creating a virtual world in which users can, among other things, conduct business & training, learn, socialize, engage in immersive games, buy and sell virtual real estate, and enjoy immersive entertainment.”

the metaverse

Still lost?!  It’s okay if you are!

To put it simply, the Metaverse is an aspiration. It is not a singular thing or action,  company or platform, but a term that can be described as the next major wave of computing and networking.  

The Metaverse is the next phase and evolution that started with Supercomputers (1960’s), to personal computing (1980’s), the internet (1990’s), smart phones and cloud computing (2007…). Next up, the Metaverse.  It’s not a video game or virtual reality in its own, but it is a blend of several technologies that will enrich the internet as we know it.

What is the Metaverse?

This remains to be seen, and will develop in time, but it is likely that the Metaverse will combine immersive experiences, augmented reality and 3D experiences that are continually changing and affected by the people who use them. The Metaverse will allow humans to interact in a unified way, creating an individual sense of presence, experiencing virtual worlds simultaneously, using hardware that has yet to be invented, and on platforms that are far more sophisticated than the ones we know today.

An important part of this development is interoperability which Wikipedia defines as “the ability of computer systems or software to exchange and make use of information.” 

The internet as we know it is interoperable; meaning you can take one ‘thing’ (i.e. an image) from one platform (i.e. Facebook), upload this to another platform (i.e. Instagram), turn it into a video using a video editor (i.e. iMovie) and upload it as a presentation to your website or YouTube (as an example.)  The Metaverse is likely to be similar, insomuch that different technologies and platforms will be able to talk to each other, seamlessly and safely, but in a more sophisticated way than we’ve ever seen before.  

We can group together technologies that we often categorize on their own such as social media, the internet, mobile and live streaming and understand that these technologies are the result of the enhanced capabilities of the internet as it’s evolved.  For example, Facebook started as a platform on personal computers, and although successful, only saw hypergrowth when mobile became commonplace. We can expect a similar level of jump in the type of things we do, and how we do them, when the Metaverse matures.

metaverse

How will the Metaverse change my life?

There are many elements that will affect the Metaverse’s development and movement from a ‘concept’ to reality for the everyday person.  Things that we can expect to change?  Here are a few thoughts to get you thinking:

  • The hardware and devices we’ll use.  We weren’t designed to spend our lives on a screen, and this is likely to change.  Items such as high quality cameras and scanners may be incorporated into future buildings and public areas which then allows us to interact with technology differently to how we do today. Wearable technology will improve such as smart glasses from the likes of Snap and Magic Leap, plus Meta’s next Quest 3 headset is destined to raise the bar in 2023. Do you remember before smart watches were even a thing? 
  • Computing power. To do more, computing power needs to exceed what is currently available. The scope of this ranges from bandwidth and infrastructure to the devices we use, and beyond.  This enhanced capability and will support higher quality real time rendered worlds and avatars, and faster networks and connectivity between larger numbers of people.
  • Platforms. We’re all used to several platforms that we use on a daily basis, but they will evolve, there will be new ones, and they’ll work differently and better.  From workplaces, training and social spaces, to entertainment virtual worlds and much more.
  • Experiences. People will be brought together in real time to virtual spaces, but with a level of presence not yet possible, and the ability to make eye contact, making each Metaverse experience an authentic and engaging one.
  • Payments, financial security and privacy. Payment ‘rails’ will make sure that there are robust networks for payments in this new era.  Decentralized platforms like Web3, NFT’s, blockchain and crypto such as Ethereum (ETH), Solana (SOL) and Polygon (MATIC) are just some of the new technologies that are part of the development of The Metaverse.

Finally, the content that occupies the Metaverse will define how we use it, and we will define what content we need to interact successfully in the Metaverse.  Technologist Matthew Ball likens the Metaverse to a Shopping Mall in this great example…

  • The Metaverse – The Shopping Mall – the ecosystem
  • The hardware – the escalator
  • The shops – the virtual platform/s

But in order to work, the Shopping Mall (or the Metaverse) needs real people to enter it and interact and it needs the right infrastructure to operate.

When will it arrive?

Well, although much of the Metaverse we refer to here is a vision of something in the future, many technologies are already here and being used today, albeit for professional applications. Platforms such as Nvidia’s Omniverse and Epic Games’ Unreal Engine have been used to successful effect in manufacturing and city planning with the creation of ‘Digital Twins’ – a real time, virtual copy of a city, factory or piece of machinery, allowing businesses to optimize efficiency and perform sometimes dangerous training within the safety of a virtual environment. Similar game engines are being used by Johns Hopkins University to perform spinal surgery enabling surgeons to see inside a patient’s bone and perform game changing operations. Procreation’s ImmersivePro platform is being used by a number of organisations as an ‘always on’ Virtual Experience Centre to host daily huddles, regular conferences and run training programmes with an integrated LMS. While these examples are not truly connected in one virtual world, they use elements of what is imagined to be the future Metaverse. More importantly they provide real world examples of how this technology can be applied.

In conclusion

It is just the beginning for the Metaverse, and it’s unlikely that one day it just ‘switches on’, but it’s certainly a space where individuals, businesses and organizations will come together to collaborate, explore, learn and create in multiple ways. 

“While we are at the early days of the Metaverse, it will advance very quickly. If companies don’t act now, they’ll find themselves operating in worlds designed by, and for, someone else.”

Paul Daugherty

Group Chief Executive – Technology & Chief Technology Officer, Accenture

The technology behind the Metaverse and its subtle but colossal shift could change everything about how we interact with each other online, how we work, how we create, and how we live.  There are indeed many unknowns ahead, but it’s anticipated that the Metaverse market will reach $824.53 billion by 2030 from $27.21 billion in 2020, (Verified Market Research, 2021).  Now that’s not to be sniffed at.  Watch this space.  It’s an exciting time.

What do you think about the Metaverse? Have you started your journey yet, and if so what have you discovered so far?  We’d love to hear your thoughts…

Get in touch with our team to discuss your next project, whether it’s virtual, hybrid or how we can help you get started in the Metaverse.

Contact us

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How to create your own Virtual Environment

How to create your own Virtual Environment

by | Business, Construction, Corporate, Education, Marketing, Virtual Events

Designing your own Virtual Environment

A Virtual Environment is a fun way to engage with audiences, whether for a product launch or large-scale event. From e-learning and online education to product demonstrations, this technology enables you to immerse your audience in any location in the world with realistic sights and sounds.  The great thing?  You can also create Virtual Environments that are totally made up; the only limitation is your imagination!  Virtual Environments have the ability to engage audiences like never before, and in a way that can’t be replicated in real life.

What is a virtual environment?

A Virtual Environment is a computer-generated world that can be explored, interacted with, and experienced by an individual. Virtual Environments can be used for a variety of purposes, including business, entertainment, training and education.

Virtual Environments have several advantages over the real world in terms of hardware capabilities.

For example: it is possible to create virtual environments that are much larger than any inhabited place on Earth.  Love a specific venue in real life, but can’t go there because the building doesn’t have enough breakout rooms or a big enough plenary?  No problem!  

It is also possible for individuals to experience events in these environments at any point in time (for example: walking through New York while it’s snowing). Additionally, because they exist only within computers or other devices that connect to them via the internet, they don’t require physical space like traditional cities do. Virtual Environments are becoming increasingly popular thanks partly due their ability to allow users to interact with each other even though physically separated from one another.

Two people in a meeting

The logistics of creating a Virtual Environment

You now have a basic understanding of how Virtual Environments work, so you’re ready to create your own. We’ll provide you with some tips on how to plan your very own Virtual Environment, as well as the benefits and limitations of creating a custom-tailored experience.

The most important aspect of creating a Virtual Environment is deciding on its content. You’ve got plenty of options; you can make it look like a walk through of an art museum, a conference center, or an interactive educational sports stadium; you could even build one that’s designed based on a specific setting such as space, under the sea or in the middle of a major city. It all depends on what kind of message or experience you want to convey and what your objectives are.

Once you’ve decided on the type of Virtual Environment (or multiple types), it’s time to think about what exactly should go into the environment. When planning your content for your virtual environment, Virtual Experience Center or Virtual Event, we recommend thinking about what people need from it first.

 

  • What will they be doing? If they’re trying something new or learning something new, then make sure you’re providing clear instructions and guidance along the way with any necessary resources (such as introductory videos, instructional hot spots and welcome messages).

A bespoke Virtual Environment is a fun way to engage with audiences, whether for a product launch or large-scale event

A Virtual Environment is a fun way to engage with audiences, whether for a product launch, e-learning programme or large-scale event. Live streaming, breakout sessions and interactive educational content are all great ways to get your message across in a memorable way.

Onboarding employees is another good use of the technology when new employees can be quickly brought up to speed, remotely, in an environment that replicates their current or future workplace.

Two people in a meeting

Product demonstrations in a Virtual Environment

Using a Virtual Environment for product demonstrations is a great way to show off your products. Whether you are selling a product or service, a Virtual Environment is a great way to showcase your product or service. You can create a Virtual Environment for your product or service and set it up in the same way that you would if it was real life.

It’s also important to remember that when designing your own Virtual Environment, it needs to be user-friendly and easy to navigate through.  With this in mind you’ll make sure your users have an enjoyable and engaging experience when visiting the platform.

Virtual Experience Centers

Virtual Experience Centers (VECs) allow you to engage audiences wherever they are and provide on demand content all year round. They are customised around your brand, offering a truly unique experience for your target audience.  Again, a Virtual Experience Center can be created in a realistic setting, such as a showroom or laboratory, or one that is more conceptual.  The choice is yours!

To conclude

When it comes to designing your own Virtual Environment, there are a few key things that you want to keep in mind.

  1. First of all, what is the goal of this experience? What do you want people to take away when they visit your space?
  2. Secondly, how do we create an emotional connection between the user and the brand?
  3. Finally, how can we make sure that users have a productive and informative experience while they’re exploring our products or services? 

Need some help with a custom Virtual Environment for your next event, product launch or learning programme?  You’re in the right place!  Contact one of our experts today for a no obligation chat or a demo of Procreation’s market leading Virtual Event solutions.

Book a time with one of our team to discuss your next project

Book now

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2022 event trends to watch

2022 event trends to watch

by | Business, Corporate, Education, Marketing, Virtual Events

What event trends to watch this year…

Over the last two years, all businesses and organisations were impacted by the Covid-19 pandemic.  We have had to changed how we work, and this will influence us forevermore.  The ongoing pandemic is easing, but some uncertainty remains.  How should we, and how can we, plan business events and marketing activity moving forward?

Here is an overview of the key 2022 event trends to watch.

New technologies will continue to emerge

Event organisers and businesses alike have relied heavily on digital technologies to enable business to happen.  The rise of new technologies has been crucial.  This is only set to continue in 2022 and beyond as the gaps between ‘need to meet’ and ‘ability to meet’ have been bridged in creative ways.

In a recent analysis and discussion of event industry leaders, Kai Hattendrof, Managing Director of UFI, believes a full economic recovery of the event industry will take place by 2024, and that new digital technologies for the events sector will continue to play a crucial part in this recovery.

Event organisers and businesses have embraced new ways of doing things digitally and this technology is becoming increasingly valuable.  Organisers are adopting a mix of in-person and online events.

The increased use of data is becoming commonplace.  With this data comes the huge opportunity to create insight to design meaningful, powerful activities that deliver a strong and measurable ROI.  It’s important that data policies, security, consent and privacy are considered, well planned and clearly communicated to all.

2022 event trends

Hybrid Events are here to stay

The phenomenal developments in event technology means Hybrid events and Virtual events are now easy to navigate for attendees.  No matter where attendees are located physically, they can move easily between in-person and virtual event experiences.

Socio CMO Andrew Pearson, who spoke at the Event 2022 Event Trends Summit said “Ultimately, the blending of the hybrid event experience means that hosting hybrid events becomes less about servicing two separate audiences and more about merging two types of technologies.”

Hybrid events enable audiences from different time zones and locations to access on demand, and live content, increasing collaboration and offering flexibility.  With Hybrid events, organisers can increase the geographical coverage and audience size, plus cover multiple time zones.  Content can be provided live to some and on-demand to others.
Virtual Events environment

Flexibility will drive confidence

Events are an essential part of most businesses overall marketing strategy, increasing awareness, generating sales and building trust.  The uncertainty of the ‘stop start’ approach of recent years can be reduced with digital and event technologies that support delivery of all types of events, even in times of change.  The flexibility provided by Hybrid and Virtual experiences allows organisers the flexibility they need when it comes to dates, in-person venues, content and speakers.

On demand content is king

On demand content is recorded and hosted post event for attendees to view at their leasure.  This is a great option for a variety of situations, including reaching audiences across different time zones. Content can be quickly distributed directly to the audience who may be working from home, in the office or on the move.

Content is the main driver of engagement at events of all types and investing in skills, resources and technology to provide on demand content is set to become a priority for many organisations.

on demand content

Data insights create engaging educational content

Recent developments have created an excellent opportunity to repurpose content from in-person and Virtual events, and to use this elsewhere.  Year-round engagement, learning and education is easier to do today than it’s ever been, and many flourishing businesses are taking advantage of the content they create to educate others at different times.  Professional development training, eLearning pre and post event allow large and decentralised audiences to benefit and learn. 

“Regardless of event format, engagement is the metric that can predict the outcome of an event” says Hopin’s VP of Marketing Strategy and Events Julius Solaris.

User data made available from Virtual and Hybrid events means attendees can be recommended personalised content.  Data driven insights, and improvements will help event organisers engage audiences like never before, improving job performance and career progression. 

educational content

Hybrid workforces

Hybrid working has its’ challenges.  Companies are beginning to understand more about the technologies available to them, and what works best for their business and culture.  Well delivered Hybrid working practices can have a positive impact.  Hybrid working technologies can improve collaboration, inclusivity and communication amongst teams as well as individuals and organisations as a whole.

 

To find out how Procreation can help your business create experiences that embrace today’s technologies and exceed audience expectations, get in touch today.

Book a time with one of our team to discuss your next project

Book now

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Business Techniques

Business Techniques

by | Construction, Corporate, Marketing

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