Do you know what is similar in Meta, Google, Nvidia, and Microsoft? If your guess is their involvement in Metaverse development, then Congratulations! You are right.
Yes, the Metaverse platform development is the new investment of many global giant corporations, and they are investing a lot of time, capital, and other resources in developing these platforms.
With this, it is evident that Metaverse will be the next biggest thing in the coming years. Considering this, businesses are now planning to shift to it. They have already started developing platforms that act as a gateway to the virtual world.
If you are someone who wants to know more about Metaverse, how it works, and why companies are investing so heavily in it, then this blog is for you. Here, we have provided complete details for Metaverse and a detailed guide to Metaverse platform development, that will help you know Metaverse better.
So, let’s get started.
Metaverse Development: Latest Market Statistics
Source: Statista
- According to Statista, it is estimated that the global Metaverse market will be $936.6 billion by 2030, rising from $82 billion in 2023.
- As per the reports, businesses in the Computer and IT sectors were most likely to have invested in the Metaverse.
- Reports show that 400 million monthly active users are using Metaverse in 2023.
- A study stated that there are 41% of metaverse players are women, whereas 59% are men.
- By the end of the decade, the metaverse will have reached 700 million people, with South Korea having the highest number of users. Gaming is anticipated to dominate metaverse revenue by 2030.
What is Metaverse?
In layman’s words, we can define Metaverse as a huge interconnected, and immersive virtual world in which people can meet, work, play, and do all their activities with the help of the internet, AR (augmented reality), and VR (virtual reality).
To enter into Metaverse, you need to create your Avatar (a digital persona), and you are set to go. You can explore different types of virtual worlds, and interact with other avatars (people), using VR headsets, sitting in your home. Isn’t this cool?
Now, let’s move on and read about how to enter into different types of Metaverse worlds.
How to Enter Metaverse/Virtual Worlds?
Some of the popular Metaverse virtual environments are Decentraland, Roblox, Voxels, and Axie Infinity. In this section, we will read about how to access these Metaverse worlds.
How to Get into Decentraland
To access Decentraland, follow the below-mentioned steps.
- 1. Visit the Official Website
To access Decentraland, you need to visit its official website, which is www.decentraland.org.
- 2. Choose the Mode of Play
Now, you need to select the mode of play. You will have two options – Play by creating an account (using a crypto wallet), or play as a guest.
After choosing the mode of play, you will get an option to customize your avatar according to your will. You will get various dress codes, hairstyles, and other visual features.
- 4. Proceed with Tutorials
Once your avatar is ready, you can proceed with the basic tutorials to learn how to move around in the Decentraland.
By learning the basic tutorials, you are ready to explore the virtual world. Move around, talk to other avatars, participate in different activities, in short, have fun!
Now, let’s proceed and read about how to access Roblox.
How to Get into Roblox
To access Roblox, do the following steps:
1. Visit the Official Website
You need to visit www.roblox.com to access the Roblox virtual environment. Sign up to create an account.
2. Access to Various Options
After the account creation, you will land on the homepage where you find Games, Avatar Shop, Create, and Robux options on the left side of the homepage.
3. Choose the Games Option
Under the Games option, you will find hundreds of immersive games that you can play. Additionally, there is a Roblox Studio, which allows you to create NFTs, 2D or 3D game digital arts, customized avatars, and more.
How to Get into Voxels
Here are the steps that you can follow to access Voxels:
1. Visit Voxels’ Website
You have to visit www.voxels.com to access the Voxel metaverse.
2. Sign In to Create an Account
On the homepage, click on the Sign In button to create your Voxels account.
3. Build Spaces
After creating your account, click on Profile, then on the Spaces button. Give a name you want to, set the dimensions, and click on Create.
Also, don’t forget to add a short description of your Space to enable other users to understand better about your Space. Click on Save.
4. Modify your Space
After clicking on Save, you can choose to build different elements that you want in your Space. Many options are available, such as buildings, parks, towers, etc.
5. Visit your Space
After constructing the Space, you can visit it alone or with your pals. Furthermore, you can also add new or modify existing elements to your Space.
How to Get into Axie Infinity
1. Install a Digital Wallet and Load it With Ethereum
To get into the Axie Infinity, you need to install a digital wallet, and then load it with Ethereum.
2. Create a Ronin Wallet
The next step is to download a Ronin Wallet. It is required because this is where you will store digital assets, such as Axies and Ethereum.
3. Get your Axies
You can get your Axies, either directly by buying from the game’s official marketplace or by finding a user who can lend you an Axie.
4. Set Up Your Account
After acquiring your Axies, it’s time to create your game account by logging into Axie’s official marketplace and setting up your credentials.
5. Download Axie Infinity
After creating your game account, download and play Axie Infinity on your favorite device.
How to Access Metaverse Using Different Devices
Earlier, we discussed how to enter different Metaverses. Now, in this section, we will about about accessing Metaverse using different devices.
How to Access Metaverse on Android
You can simply access Metaverse on your Android device by using Android-compatible applications. VRChat, Rec Room, Somnium Space, Cryptovoxels, Sandbox, and Second Life are some of the most popular Metaverse apps.
After downloading the program, you may create an account and begin exploring the Metaverse. There are currently few metaverse-compatible options for Android, but as technology grows in popularity and usefulness, the number of services supporting Android compatibility will increase.
How to Access Metaverse on iOS
To use Metaverse on iOS, you must first create a Web3 wallet on a platform such as Metamask, Trust, or others. After generating a wallet, connect it to Metaverse Apps/Games, which may be downloaded from the App Store.
You are now ready to use the iOS platform to access Metaverse. Robox Mobile, Superworld, Play Together, Highrise, Enjin, 8Bit Painter, Opensea, Avatar Life, Ready Player MePlay Together, and others are popular Metaverse games/apps compatible with iOS.
How to Access Metaverse Using Oculus Quest 2
The Metaverse is all about creating an immersive world. And the best way to explore the Metaverse is with VR headsets like Meta Platforms’ Oculus Quest 2.
To access Metaverse using Oculus Quest 2, follow the below-mentioned steps.
- First, set up your Oculus Quest 2. Create an account using the Oculus app on your phone.
- Download your preferred virtual reality applications.
- Select “App drawer” from the menu. All of your applications will be shown.
- Choose a platform and dive into the Metaverse.
How to Access Metaverse in Chrome
You can visit the official website of any Metaverse Platform, such as Decentraland, Roblox, Voxels, etc., and create your account. Afterwards, connect your Web3 Wallet with the Metaverse you want to access. That’s it, now you can enjoy the Metaverse world using Chrome.
Metaverse and Its Use Cases in Various Top Industries
Many people think that Metaverse is a futuristic technology and will take about 10-20 years to arrive in various industries. But the reality is that it has already arrived on the scene and the technology is used for various purposes tailored to different industries.
Thus, let’s read about the Metaverse and its use cases in various top industries.
Metaverse in the Manufacturing Industry
Metaverse has unlimited possibilities in the manufacturing industry. It can be used for various purposes and saves time and other resources. Let’s read about the different use cases of Metaverse in the manufacturing industry.
- Enhance Production and Manufacturing Process: It is one of the most important use cases of the Metaverse in the manufacturing industry. Many industries have already begun to use Metaverse to test various industrial scenarios and discover optimization opportunities within their facilities without affecting ongoing production.
- Improve Product Design: Designing a product is a time-consuming process and requires a lot of investment. Another challenge in product designing is that due to experimentation in the product design, many times there is so much wastage of resources. But with Metaverse, product designing can be done virtually, and changes can be made easily without any wastage.
- Research and Development: Metaverse plays a vital role in the research and development of new innovative and existing products. The R&D specialists use Metaverse technology to try out new approaches to develop a product and examine how to make existing ones better in an immersive environment. This results in unparalleled degrees of innovation, efficiency, and creativity.
- Training of Employees: In the manufacturing industry, there are a lot of machines that are complicated to use and cost millions of dollars. Thus, it is not a good idea to put these machines at risk to train new employees. Therefore, Metaverse can be used to give hands-on training to new employees to use machinery in the immersive world.
Metaverse in the Banking and Finance Industry
The emergence of the metaverse is a significant shift for the banking and financial payments industry, with massive potential for innovation and growth.
Let’s move forward and explore various use cases of Metaverse in the Banking and Finance industry:
- Virtual Branches and Offices: Many times, customers don’t have time to visit banks, due to several reasons, such as extreme weather conditions, or the Covid-like pandemic. In such cases, Banks and Financial institutions leverage Metaverse and allow customers to visit banks and financial institutions virtually. The same can be done for the employees who can access their offices and work in a virtual environment.
- Customer Engagement and Support: Banks and financial institutions can also employ Metaverse technology to create a virtual environment where customers can contact the bank, and officials can address their grievances effectively.
- Financial Education and Training: Metaverse technology can also be used to train and provide financial education to new and existing employees. Virtual banks can be set up to train employees how to interact with customers in different situations.
- Virtual Events: Metaverse is the best option for hosting virtual events conducted by banks and financial institutions. As of today, we can witness virtual events being hosted on Zoom calls, or via Live streaming. But in coming years, this will definitely go to the next level, where events will be hosted in the Metaverse and people can participate immersively in events.
- Digital Art and Collectibles: In the coming years, Banks and other Financial institutions will leverage Metaverse to buy, sell, and rent digital arts and collectibles, such as NFTS, to people from different countries.
- Financial Marketplace: Virtual Financial Marketplaces are going to be a trend in the financial market, with the growth of the Metaverse. Virtual marketplaces will be set up by financial institutions, where selling, buying, and exchange of financial goods will take place.
Metaverse in Retail and eCommerce
Retail and eCommerce are other industries that are going to be highly affected by the introduction of Metaverse. Let’s delve into the different use cases of Metaverse in the Retail and eCommerce industry.
- Immersive Shopping Experience: With Metaverse, retailers can allow their customers to shop immersively from the comfort of their homes. People can use VR glasses to experience it like they are in the showrooms themselves and buy their favorite products.
- Virtual Showrooms: Showrooms, shops, and marketplaces can be set up virtually using Metaverse, where people can shop and interact with salespersons. Another benefit of virtual showrooms is that users can check the products that they are interested in more effectively as compared to online shopping that we do these days.
- Easy and Secured Transactions: Transactions made for shopping in the Metaverse, will be more secure because of the cryptocurrencies and Blockchain. Shoppers get more payment options, such as NFTs, Cryptocurrencies, and more, which enhances the shopping experience of the people.
- Enhanced Personalization: In Metaverse, Retailers and business owners can also enhance the level of personalization using customer data, and show them products that they are actually looking for, which eventually increases shopping experience and customer retention. Moreover, customers can also ask for product customization more easily and effectively in the Metaverse.
Metaverse in the Healthcare Industry
Metaverse is going to transform various industries and the healthcare industry is no exception. Let’s read further about the use cases of Metaverse in the Healthcare industry.
- Immersive Patient Care: The major use case of the metaverse in the healthcare industry is Immersive care. Patients can reach out to doctors remotely and doctors can check the patient’s condition and suggest medicines immersively, without meeting them personally. Metaverse will be beneficial for both doctors and patients.
- Training and Education: The cost of training and educating new students and budding doctors will become around 60% less with the introduction of Metaverse in healthcare. Medical institutions can leverage immersive technology to train students and doctors for surgeries without spending on real resources.
- Digital Twins: Digital Twins are basically the dummies of something real. In healthcare, Metaverse can be used to create digital twins of the patients to examine the side effects of the medicines or how a particular surgery will affect the patient. This way, healthcare institutions can carry out various surgical procedures and medication research without trying them on real patients.
- Radiology Visualization: These days, medical images are visualized slice by slice on 2D screens during radiology diagnosis. Providing improved medical imaging visualization has the ability to increase the value of disease analysis and surgical planning. The metaverse’s immersive and visualization capabilities can provide more interactive and realistic medical encounters.
Metaverse in the Real Estate Industry
Major real estate companies are investing heavily in the Metaverse technology. But do know why? If not, then let’s read the use cases of Metaverse in the Real Estate Industry, and you will get the answer to this question.
- Planning and Construction: Metaverse has proven to be the best technology to plan and construct various real estate projects. Builders and construction company owners are using Metaverse to immersively plan the site, design, and layouts of their ongoing and upcoming projects. Through Metaverse, planners will get more accurate insights into the projects.
- Effective Property Tours: These days, when you want to tour a property, you either ask for pictures and videos of the property, or you go to the property site. But with Metaverse, real estate brokers and clients can tour the property immersive from the comfort of their places. This way, they can get the details of the property, such as room sizes, amenities, and neighborhood more accurately than pictures and videos.
Metaverse in the Tourism and Travel Industry
According to the experts, Metaverse will completely transform the travel and tourism industry in the coming years. Let’s some of the use cases of Metaverse in the Tourism and Travel industry to understand better.
- Helps in Making Travel Decisions: Travel agents and tour operators can use immersive technology to help people make their travel decisions more effectively. They can provide them with immersive experiences of top travel destinations which people can access and decide better which place they want to visit.
- Enhanced Booking Experiences: It becomes difficult for tourists to find hotels to lodge in busy tourist destinations, such as Paris, Amsterdam, Tokyo, Las Vegas, and more. Even if they find the hotel, they do not get impressed by the facilities. Thus, travel agents can offer immersive tours of hotels using AR, VR, and Metaverse, to allow tourists to make their booking decisions efficiently.
- Travel to Historic Times: With Metaverse, it has become possible to visit any place virtually. But what if we say that you can visit a place in historic time also? Yes, it is true. With Metaverse, travel agents are now organizing Historic tours, where people can visit their preferred places in historic times. For example, people can visit New York City or Paris during the time period of 1800 virtually and can experience how these cities were in the 1800s.
Metaverse in the Gaming Industry
Metaverse has already transformed the gaming industry, and everyone is happy with this emerging technology. Let’s read the use cases of Metaverse in the Gaming industry.
- Enhanced Gameplay Experience: The Metaverse has provided gamers with an enhanced immersive gameplay experience, which they are liking it. Leading game development companies, such as Epic Games, Gameloft, and Electronic Arts are investing in Metaverse to make their games more immersive, user-centric, and advanced.
- Easy Collaborations: With Metaverse, game collaborations, and multiplayer gameplay have become more advanced. Now gamers can collaborate with other gamers from any part of the world, and play a game immersively in a virtual environment.
Metaverse in the Education Industry
The education industry has also benefited from the Metaverse. The following are the use cases of Metaverse in the Education Industry.
- Immersive Learning: It is the most crucial use case of Metaverse in the education industry. Schools can provide immersive learning experiences to students with the help of Metaverse technology. For example, teachers can teach about the Solar System to students using Metaverse, where students feel like they are actually part of the Solar System. This will help students to understand complex concepts more efficiently and eventually improve their learning experience.
- Virtual Laboratories: Schools, colleges, and universities can also leverage Metaverse technology to conduct harmful and dangerous experiments by setting up virtual laboratories. Students and teachers can access a laboratory in the Metaverse and carry out experiments, to gain knowledge. This not only ensures the safety of the children but also enhances their learning experience.
- Collaborative Learning: Many enthusiasts want to learn from the best professors in the world, but cannot able to pursue them because of various reasons. Lack of money, geographical distance, and language barriers are some of the major reasons. But, this can be resolved with the help of the Metaverse. Students can easily collaborate with professors from different countries using the VR glasses and continue learning, thanks to Metaverse.
- Educational and Historic Trips: Another use case of Metaverse in the Education sector, is that educational trips have become effortless and budget-friendly. Schools and other educational institutions can organize educational trips using Metaverse technology. Also, they can organize historic trips, where students can learn about historical events by being there immersively. Imagine, learning about World War II by being a part of it, but of course, virtually.
- Distance Education: Many schools and universities offer distance courses and millions of students enroll for them. However, some experts say that the learning experience can be enhanced if students can get a proper environment, like a classroom, at their place. Thus, with Metaverse platform development, they can provide a classroom-like environment to distant students, to improve their learning experience.
Metaverse in the Media and Entertainment
The future of media and entertainment is fascinating, and we are in for an exciting trip, with the immersive internet just around the bend. The metaverse has immense promise for the media and entertainment industries. Let us have a look.
- Virtual Concerts: The metaverse will enable the creation of persistent digital venues in which various artists and content providers can cooperate, communicate, and perform in a manner comparable to that of real life. It will increase users’ exposure and adaptability while ensuring artists’ predictable audiences and engagements. Global bands and celebrities such as Imagine Dragons, BTS, Travis Scott, Muse, and a slew of other contemporary artists have already begun dabbling in the abundance of potential that metaverse implementations bring to the media and entertainment industries.
- Movies: What about a movie in Metaverse? In the coming years, film directors are going to make films that will provide high immersive experiences to the audiences. Using VR glasses, when a person watches a movie, he will feel like a part of the movie and he’s involved in every scene. This will take the movie experience to a whole new level.
- Theme Parks: Theme parks and amusement parks have begun incorporating Metaverse technology to provide visitors with an immersive experience. People can access different themes and rides using VR glasses.
- Sports Events: In coming years, we will also going to witness our favorite sports live events in the Metaverse. Sports event organizers are looking forward to providing immersive experiences to their audiences. Additionally, esports has also gained momentum these days. Hopefully, we can also witness esports events happening in Metaverse.
Metaverse in Fashion
Fashion is one of the popular industries that has already started transforming by Metaverse. Here are a few use cases of Metaverse in the fashion industry.
- Designing Virtual Fashion Wear: Brands like Gucci, Nike, Lacoste, and Valentino have started designing virtual fashion wear for digital avatars in the Metaverse. Soon, you can buy clothes from your favorite designers for your digital avatar and wear them in the virtual world.
- Virtual Fashion Shows: Like other events, fashion shows are also going to be held in Metaverse. Popular fashion shows like Vogue Fashion Week, Met Gala, and Balenciaga Fashion Week ought to happen virtually in the upcoming time.
- Collaboration: Thanks to Metaverse, the best fashion designers across the world can collaborate for fashion shows and projects in an efficient way. They do not need to travel to different cities to meet their collaborators, instead, they can meet and work together in Metaverse.
Step-by-Step Guide for Metaverse Platform Development
Here is a step-by-step process for Metaverse platform development.
- Define the Purpose of the Metaverse Platform
Before starting the development process of a Metaverse platform, it is important to define the purpose of the Metaverse platform you are developing. Research the market and come up with innovative ideas to use for your platform development.
- Design the User Interface
The designing of a user interface is the next phase in metaverse platform development. Design an engaging and immersive user interface that attracts a large number of users, based on your idea.
- Code Operational Smart Contracts
After you’ve decided on a user interface, write the operational smart contracts. It is possible to do so by combining if/then sentences with Blockchain technology. The conditions you want the user to meet, the resulting workflow, and the subsequent action must all be meticulously designed.
- Build IPFS Storage System
After you’ve finished creating smart contracts, it’s time to integrate the IPFS (Interplanetary Filing System) storage systems. The benefit of IPFS is that it enables content decentralization, thus data is kept among thousands of peers rather than a central server.
- Create Metaverse Database
After building the IPFS Storage System, create the Metaverse Database to store vast amounts of data in an organized way that is important to create and operate a Metaverse.
- Develop AI and VR Functionalities
After creating the Metaverse Database, develop core AI and VR functionalities for your Metaverse platform.
- Integrate Smart Contracts and IPFS
The next step is to integrate Smart Contracts and IPFS with the frontend and backend of your Metaverse platform.
- Testing
Now comes the major step of the development process of the Metaverse platform. Test your platform thoroughly to find bugs and functionality errors. Once you find any, fix them and check again.
- Release the Beta Version
Once testing is completed, release the Beta version of your Metaverse Platform. The benefit of releasing a Beta version is that you can get valuable information like how is it performing in the market, whether users like it, whether it grow, and more. Also, keep an eye on the feedback of users reacting to the Beta version.
- Launch your Metaverse Platform
Review all the feedback you get for your Beta version, make necessary changes, and launch your Metaverse platform in the market for general public use. Market it using different marketing strategies so that many people will know about it. Also, check feedback regularly, make keep updating it to attract new users and retain existing ones.
Benefits of Getting Into Metaverse
The benefits of getting into Metaverse are:
- Addressing Remote Work Challenges
Metaverse has proven to be the finest technology for addressing all of the existing remote work challenges. Enterprises and businesses use Metaverse to build a virtual environment in which all employees (avatars) meet, talk, work, and maintain in-person interaction.
- Global Connectivity
Another major benefit of Metaverse is its potential to allow global connectivity. Businesses can connect and collaborate with other companies across the world effectively using Metaverse.
- Environmental Sustainability
Climate change is a major concern of all countries. With Metaverse platform development, we can address the issue of global climate change and also reduce it. When we use this immersive technology on a daily basis, we stay indoors and use transportation less, which are the major causes of global warming.
- Enhanced Immersive Experiences
Metaverse provides the most advanced immersive experiences to the users. We do experience immersive experiences with augmented reality and virtual reality, but with Metaverse, we can go a step further and have an enhanced level of immersive experiences.
- Personalization
Last but not least, personalization is another benefit of getting into the Metaverse. In the virtual world, we can customize our digital avatars, our surroundings, places, and more, according to our preferences. Thus, it would be right to say that Metaverse provides the highest level of personalization as compared to other technologies.
Latest Technologies to Use in Metaverse Platform Development
Now, let’s explore the top technologies for Metaverse platform development.
- Artificial Intelligence
Artificial Intelligence plays a significant part in making every process that occurs in the metaverse immersive. It can help handle data at breakneck speed using machine learning techniques. It is also used to create life-like non-player characters (NPCs).
Furthermore, AI is utilized to develop more realistic-looking and accurate avatars and add more character by assisting in the creation of varied facial expressions, haircuts, outfits, and attributes to enhance the appearance of the avatars.
- Blockchain
As most applications operate on blockchains, blockchain technology serves as the metaverse’s foundation. It essentially provides the decentralization and transparency required for the metaverse to function.
Blockchain technology enables developers to integrate features such as digital ownership verification, governance, accessibility, digital collectability, value transfer, and interoperability during metaverse platform development.
- Augmented Reality/ Virtual Reality
The Metaverse is supported by Augmented Reality and Virtual Reality. In the future, the Metaverse might grow beyond VR to include other cutting-edge technologies.
Augmented Reality gives users a real-time view of their surroundings and augments it with digital sensory input such as text, audio, graphics, and video. AR apps allow users to see their surroundings in real time and make virtual changes to them using their smartphones and smart glasses.
The Metaverse, according to supporters of Metaverse AR solutions, will be a merger of the physical and digital worlds. Virtual Reality, on the other hand, uses 3D computer modeling, one of the most intriguing types of graphic design, to immerse you in a 3D virtual environment.
- Internet of Things
The Internet of Things is a technology that uses sensors and gadgets to connect the physical world to the internet. IoT improves the connectivity between the metaverse and real-world items or devices.
When these devices are connected to the metaverse, they may easily share and receive information, allowing the metaverse to be a more efficient imitation of the real world.
- 3D Reconstruction
While 3D reconstruction is not a new technology, its use has increased in recent years. We can create realistic and natural-looking settings using 3D reconstruction.
We can bring our environment online by producing accurate 3D photorealistic models of buildings, physical locations, and things using special 3D cameras.
And then process them to create a virtual counterpart in the metaverse for people to explore.
- Edge Computing and 5G
Edge computing allows for speedier data flow with fewer delays, resulting in more enjoyable experiences. It is one of the key aspects that has made Metaverse possible, as computers must be able to handle high stimulations efficiently. It has eliminated lag and ensures that users enjoy an immersive and uninterrupted gaming experience.
The availability of 5G networks is another essential element that is frequently paired with edge computing. With the introduction of 5G, more users will be able to access the metaverse from their PCs and other devices without coming across network difficulties or lag.
What is the Cost of Developing a Metaverse Platform?
The cost of Metaverse platform development depends on various factors, such as complexity, its purpose, technologies used, size and location of the development team, and more.
However, the average cost lies between $50000 to $450000, or more, depending on the aforementioned factors.
How Quytech Can Help in Developing a Metaverse Platform?
Quytech is the best Metaverse development company, with 12+ years of experience in providing Metaverse development services to various industry verticals.
We have built many top-notch Metaverse platforms for companies and businesses across the globe. We provide end-to-end Metaverse development, Digital Twin, 3D Space development, Metaverse Marketplace development, and 3D avatar creation solutions tailored to your needs.
For more information, feel free to get in touch with our Metaverse experts.
Conclusion
Metaverse is just around the corner. Many major companies are investing heavily in technology and businesses are looking forward to entering the virtual world. We can easily say that the next 5 to 10 years will be the Metaverse years.
So, we advise you to get in touch with a leading Metaverse development company to develop a Metaverse platform before your competitors read this guide on developing a Metaverse Platform Development and make any move before you.
FAQs
Q1. What is a Metaverse?
Metaverse is a huge interconnected, and immersive virtual world in which people can meet, work, play, and do all their activities with the help of the internet, AR (augmented reality), and VR (virtual reality).
Q2. What are the benefits of entering in Metaverse?
The benefits of entering Metaverse are:
- Addressing Remote Work Challenges
- Global Connectivity
- Environmental Sustainability
- Enhanced Immersive Experience
- Personalization
Q3. How much does it cost to develop a Metaverse platform?
The average cost to develop a Metaverse platform may range from $50000 to $450000, or more, depending on the various factors.
Q4. How Metaverse can be used in the fashion industry?
Metaverse can be used in the fashion industry in the following ways:
- Designing Virtual Fashion Wear
- Virtual Fashion Shows
- Collaborations
Q5. How many people use Metaverse in 2023?
Reports show that 400 million monthly active users are using Metaverse in 2023.
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