What is the future of the enterprise in the Metaverse?

GlobalData’s social media research describes Metaverse as a “virtual world where users share experiences and interact in real-time within simulated scenarios”. For those who think Metaverse has commercial prospects, 2020 is a breakthrough year, and it is also the year when Metaverse begins to gain attention outside the crypto field and enter the mainstream. Microsoft CEO Satya Nadella wants to build a “corporate meta-universe.” Mark Zuckerberg once said that Facebook will become a meta-universe company.

So, what is the actual situation that promotes Metaverse to become a commercial phenomenon-what can we expect next?

Epic rise

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One of the factors that promoted the concept of meta-universe is the epidemic that has swept the world and its impact on the music industry: the epidemic has caused the closure of venues all over the world, during which there were hardly any live performances. However, in 2020, there has been a kind of outstanding virtual work for appreciation: such as the performance of the rap artist Travis Scott in the game “Fortnite”, and the 90s legend Massive Attack in the game “Minecraft” Sing.

Before Facebook and Microsoft, the largest company that conveyed the concept of “meta universe” was Epic Games. As a gaming platform, Epic is a giant with more than 350 million users around the world like “Fortress Night”. Epic proves that events such as virtual concerts in games can attract a large number of audiences seeking new forms of entertainment, and can also serve as a channel for brands, advertisers and celebrities, customers, and fans to interact in real time. Before the epidemic, Epic had already collaborated with Disney’s “Star Wars” IP to create a promotional campaign for the movie “Star Wars: The Rise of Skywalker”. In the same year, Epic held its first in-game concert; after demonstrating its ability to operate in the metaverse, Epic raised $1 billion in April 2021, of which Sony led the investment with $200 million. At the same time, social hybrid gaming platforms such as Roblox and game makers such as Niantic are working with the developers of Fortnite to develop the meta universe. Game developers with similar Metaverse products may soon become acquisition targets of the above-mentioned large companies. Of course, this depends on the maturity of their products and underlying technology.

Metaverse is a new way of socializing, and games are an ideal starting point. But in addition to games, many visionary people have seen the possible role of companies in the meta-universe. Facebook Workroom, the VR collaboration platform launched by Facebook, justifies this view.

Is the Facebook meta-universe for businesses the next stage of the Internet?

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For professionals facing the “post-pandemic era” (especially in the case of the unstable epidemic situation in the West), a key question is whether the meta-universe presented by Facebook will be the next stage of the Internet . It’s not just Facebook that is making progress, but Metaverse is also emerging all over the world: In Korea, 17 industry leaders launched a Metaverse Alliance in May, and the Ministry of Science and Information and Communication Technology of South In a shared virtual space, users can communicate with each other through digital avatars.

Social interaction may be a big catalyst for the meta-universe, but so far, Facebook can be said to make full use of its advantages. In South Korea, social giant Kakao (owner of messaging app KakaoTalk and social platform KakaoStory) has so far only focused on VR and AR, and has focused on virtual golf and health training. In China, Bytedance is entering the meta universe through games: Recently, Bytedance acquired VR company Pico for nearly 5 billion yuan ($772 million).

There may not be a virtual TikTok or Twitter VR collaboration platform, but the interconnected nature of Metaverse allows users to jump from games to social networks or work collaboratively through headsets. The ultimate vision of Metaverse means that these platforms do not have to be owned by the same company to make this interconnected possibility come true. However, this flexibility may bring various security issues. GlobalData’s analysis pointed out that since Meta Universe is still mainly conceptual at this stage, it is best to regard it as an extension of the existing social media platform to understand what network security issues it may bring to consumers. Security can be built into the contract, or, as in reality, the responsibility is borne by the supplier (company). If users use services provided by different companies, then providers need to share common or interconnected security systems. However, Metaverse users and providers will be vulnerable to attacks by third-party coders and then hackers.

At the same time, given that all Metaverse providers can share user data, interconnected systems may cause the issue of user privacy leakage. In order to protect all aspects of data privacy, the virtual platform must be designed to achieve privacy protection to ensure the security of essential meta-universe technologies such as AR and VR. In addition, the scale of the meta-universe that accommodates millions of users will make it more difficult to control.

Enterprise meta universe

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These problems need to be resolved as soon as possible. Enterprises are rapidly becoming the key frontier of Metaverse; enterprises are the key market for platforms such as AR and VR and will affect the development of Metaverse.

BMW is already building a digital twin—a digital representation of a physical asset, system, or process—for its factory—using NVIDIA’s Omniverse platform. Microsoft said it will use Mesh to build its “enterprise meta-universe,” Mesh is a mixed reality, cloud-based meeting application that can digitally transmit a person to a remote location to share the experience. This enterprise-level meta-universe is very suitable for working around 3D physical models.

As the technology is still in its infancy, Meta Universe may start to slow down, but as technology giants compete for market dominance and non-tech brands track their progress in potential revenue and operational improvements, market competition will intensify. Ultimately, in addition to business adoption, the Meta universe consumer platform will change the way people entertain, shop, socialize, and interact. All of this means that network security and data privacy are of the utmost importance to Metaverse developers. We are likely to see the emergence of several cybersecurity startups. They are professional vendors that ensure the supervision and protection of private data such as biometrics. Compared with traditional cybersecurity vendors, these startups may be more suitable for Meta Universe.

After all, as the meta-universe develops, it will provide an attempt to enter a new world, but it cannot be ignored that these attempts are accompanied by old risks.

Posted by:CoinYuppie,Reprinted with attribution to:https://coinyuppie.com/what-is-the-future-of-the-enterprise-in-the-metaverse/
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