Can the hot Metaverse revolutionize the travel industry?

Advances in technology allow travelers to have a travel experience before they even start traveling.

Even if Metaverse travel is not yet fully realized, it will be the next big thing to hit the travel industry. Like space travel, build ideas and fans will follow. However, instead of taking travelers to distant spacecraft and spending the night in the stars, the Metaverse has arrived. Just need to redefine it to create a craze among travel lovers.

To this end, citizenM, a fashion brand in the luxury hotel sector, is acquiring land in the “SandBox”. SandBox is a popular decentralized gaming virtual world where users can explore virtual hotels and interact with other users.

In this digital space, NFTs can also be purchased.

Marriott is also moving into Metaverse travel, a new and untapped field. In December last year, the hotel company entered the meta travel space. At Art Basel Miami Beach 2021, Marriott showcased three elements of virtual art (Art Basel is a leading annual exhibition of contemporary art).

Can the hot Metaverse revolutionize the travel industry?

citizenM becomes the first hotel brand to acquire assets in Sandbox.

Metaverse is seen by Marriott as a new form of digital marketing, targeting new audiences . But those observers of the development of the travel industry believe that the Metaverse will bring more opportunities to the travel industry and may transform the concept as we know it.

A study on meta-travel released this month by Emergen Research shows that the concept has the potential to change the way travelers shop before, after and during travel , and become an important part of the travel ecosystem.

Travel companies are rapidly applying technology to create alternatives to physical travel, they are increasing investments to create 3D virtual tours, and increasingly using the Metaverse platform to enhance hotel services . These key factors are expected to drive market revenue growth for the foreseeable period.

In addition, the increasing use of virtual worlds by travel companies to enhance attraction reputations , create immersive marketing experiences, and provide customers with basic information about room reservations, room sizes, and features is expected to be another driver of market growth. a key factor.

The widespread use of meta-tours relies on cutting-edge AR glasses and complex mapping products, AI and 3D real-time integration, so equipment is expensive, and producing these products for an evolving platform requires a lot of time and money. years of exploration.

But travel to a long -cherished destination, enter a hotel as an avatar, and interact with other people’s avatars; or have a virtual dinner with friends at an exclusive Metaverse restaurant and pay for it in cryptocurrency; After dinner, setting off for a walk around town or a trip to a museum , all in a virtual world you can see and almost touch, will no longer be a pipe dream.

In such a vision, the travel industry is expected to capture a sizable revenue share in the global market as the masses become more aware of the huge potential that virtual worlds have in changing the dynamics of consumers’ choice of destinations, attractions and accommodations. .

Virtual and Augmented Reality and Metaverse platforms will enable users to experience destinations without having to travel to their desired destination in person, and give them an early glimpse of what hotels and resorts can offer. As such, the report argues, it will not replace, but encourage, travel demand.

In addition to the need for good timing to create and apply this form of entertainment, meta-travel has some drawbacks.Not only are these projects slow and complex — 3D modeling places, spaces, and travel takes a lot of effort — but access to these new spaces requires AR glasses, which can cause dizziness, nausea, fatigue, and possibly even bodily harm .

To date, the main players in this growing field are:

Boeing, Mytaverse, Marriott International, Air One, LynKey, Ariva, Color Star Technology Co. Ltd., Powerbridge Technologies Co., Ltd., Facebook Meta, Google and Microsoft.

Former Disney CEO Robert Iger is also working with a Metaverse-based company through a company called Genies.Genies is a 3D avatar startup that enables users to create custom digital avatars or personalized avatars for their social media profiles, or for traveling in the Metaverse.

Airlines are working on the meta-travel track as a premium sales feature, giving travelers a glimpse of what it’s like to fly in first or business class and hopefully, once they’ve tried it, they’ll probably never want to go back to economy.

Hotels hope that they will be able to showcase rooms and suites and offer visitors a dizzying vacation experience that will prompt them to choose among pre-orders.

At the same time, the Metaverse track is transforming into a decentralized autonomous organization powered by blockchain technology and cryptocurrencies. This could mean that we can pay for our chosen experiences and travel preferences in cryptocurrencies like Bitcoin or Ethereum, even in other contexts.

We’ve seen on the Internet, NFTs, or non-fungible tokens as they are called, have caused such a stir in artistic creation and transactions that they have become ideal digital assets for travel companies to use to represent products such as airline tickets and hotel reservations .

Since NFTs are actually cryptoassets that buyers store in crypto wallets, they can store anything they need for real-world travel, such as money, airline tickets, and hotel reservations, in one place.

Trip advisors may become Metaverse receptionists, avatars who meet their clients in this universe to manage their travel experience. They’ll create new ways to shape travel and lobby customers for more expensive products when they’re on vacation.

As the world heads down the next rabbit hole, we better know what to expect and what characters we might encounter there.

Posted by:CoinYuppie,Reprinted with attribution to:https://coinyuppie.com/can-the-hot-metaverse-revolutionize-the-travel-industry/
Coinyuppie is an open information publishing platform, all information provided is not related to the views and positions of coinyuppie, and does not constitute any investment and financial advice. Users are expected to carefully screen and prevent risks.

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