LAB51 logo
Menu
Subscribe

Reimagine reality with the metaverse!

We become the internet in the Metaverse. Generative AI will only accelerate the creation of the Metaverse.

As technology rapidly evolves, it is important to remove the boundaries of current state-of-the-art limitations and focus on the metaverse concept that is yet to be formed. This is why there is no exact definition of the metaverse but a description of how we can improve the world through its components development and ecosystem formation.

 

Read also:

Metaverse
Metaverse

What does the metaverse consist of?

The metaverse is currently comprised of four core building blocks - content and experiences, platforms, infrastructure and hardware and enablers - which users interact with through a range of devices, such as smartphones and laptops. Popular metaverse platforms include Decentraland, Fortnite, Minecraft, Roblox and The Sandbox. Spatial innovations are also being explored to further enhance user experience.

 

Read also:

Metaverse galaxy

“With the Metaverse, we are seeing a pattern similar to the adoption of mobile in the early 2000’s”

- Mark Forster, founder of Adello and Lab51 Inc and Chairman of the Metaverse taskforce at IAB Switzerland.

What are the driving factors of metaverse investments?

Interest in the metaverse is growing

Explore the Metaverse: Immersive, Customizable Spaces, Limitless Possibilities.

20%

Of gamers have used the metaverse for non-gaming activities

200M

Active users on the 
different platforms

Metaverse

Did you know?

The companies like Nike, Gucci, Microsoft, and many others have already invested in the metaverse.

Metaverse

Booming interest has also made it difficult to separate hype from reality

We have been witnessing the cycle of technological innovation since the dawn of the internet. We have gone through periods of anticipation and hype over the potential of technology and its evolution. Though the first dot-com bust led to the demise of many companies, the internet remains a part of our everyday lives. It is a reminder that while some businesses may be lost, the internet is here to stay.

More than $120 billion has flowed into the metaverse space already in 2022

More than double the $57 million of 2021, as large technology companies, start-ups, and established brands invest increasingly large amounts of money in new technologies.

 

Read also:

Metaverse

Today

~$55 Million 

Daily active users on Roblox

~$250 Million

Daily trading volume on NFT

~$500 Million

Metaverse real estate sales

+$10 Million

Invested in Meta for the metaverse development

Tomorrow

~ $5 trillion

The metaverse  is slated to add to the global economy by 2030

~ $678.80 Billion

Metaverse’s global market value is expected to reach by 2030

~ $250 Billion

The global AR, VR, and MR market is expected to reach by 2028

~ 1.4 billion

The number of mobile AR users worldwide by 2032

hello world!

The sectors leading metaverse adoption

The sectors leading metaverse adoption also plan to dedicate a significant share of their digital investment budgets to the metaverse with energy (18%); automotive, machinery, and assembly (17%); high tech (17%); tourism (15%); and media and entertainment (15%) among those leading the charge in terms of allocating a share of the digital budget to metaverse related activity over the next three to five years.

Metaverse

How is consumer and business behavior evolving?

40%

of consumers are excited about the transition of everyday activities to the metaverse

40%

prefer virtual work meetings over ones in person

0/3

of consumers who have experienced the metaverse, our survey found 80% appreciate shared virtual experiences with friends and family

40%

of those using the metaverse had engaged with one or more branded virtual experiences, indicating the opportunity for companies to pursue those efforts

Did you know?

As the metaverse continues to expand, consumer spending on digital assets related to it will increase. Those using the metaverse are seeking a range of features, including content creation, corporate strategy, and cybersecurity.

How significant could the metaverse’s impact be?

Real business ventures within the virtual world of the metaverse are proving to be promising, with brands receiving highly positive feedback from their experiments. This suggests enormous economic potential for the metaverse.

Metaverse

The metaverse is also emerging as the biggest new growth opportunity for several industries in the coming decade

Fashion

Metaverse provides a digital platform to bring together the latest trends and styles from around the world, offering an interactive and engaging experience for users. 

Read also:

metaverse fashion
Fintech

Fintech

By leveraging the power of Metaverse, financial firms can gain real-time insights and make informed decisions, enabling them to better serve their customers.

Consumer packaged goods

Unlocking the power of virtual reality with Metaverse's immersive experiences makes packaging services more captivating and accessible.

Metaverse
metaverse

Retail

Experience real-time insights and reach more customers with the power of Metaverse in retail.

Technology

With Metaverse, technology is transformed into a catalyst for social connection, collaboration, and creativity.

technology
Gaming

Gaming

With Metaverse, gamers can explore an ever-evolving gaming universe with endless possibilities.

Education

The metaverse combines physical and digital elements, allowing for interactive learning in a 3D space. Its benefits for education include enhanced engagement, access to resources, customized learning, overcoming physical limitations, and socialization. It has the potential to transform education and foster collaboration, creativity, and innovation.

Education in the metaverse
e-commerce

E-Commerce

The metaverse offers a new platform for e-commerce businesses to connect with their customers in a more immersive and engaging way. With virtual storefronts and product displays, customers can browse and purchase products in a more interactive and personalized environment. Additionally, the metaverse can provide opportunities for businesses to experiment with new business models and revenue streams.

Marketing/Advertising

The metaverse offers new opportunities for marketing and advertising, allowing for more immersive and interactive campaigns that can better engage and target audiences. With the ability to create unique and customizable experiences, businesses can create more memorable and effective advertising campaigns.

Metaverse and marketing

Sport

The metaverse offers a plethora of innovative sport opportunities, ranging from virtual reality competitions and esports tournaments to immersive fitness experiences and interactive fan engagement, transcending physical limitations and connecting athletes and enthusiasts worldwide.

Steps to prepare your business for the metaverse

Define your goals

Set a clear and specific goal in the metaverse that you want to achieve, and outline the steps you will take to make it happen.

Determine the role and aim to play

Think about what kind of presence you want to have in the metaverse and what you want to achieve there.

Launch initial activities and use cases

Create a virtual space within the metaverse and launch the initial activities and use cases within the space.

Monitor short- and long-term results

Use analytics tools to track user engagement and content performance over time.

Learn more about users

Start by researching some of the latest virtual reality platforms and user experiences to get a better understanding of users in the metaverse.

Identify and start scaling capabilities

Begin by mapping out the capabilities of the metaverse, then identify the areas that need scaling and decide on the best methods to do so.

Embed in business strategy

Develop a strategy for your business that outlines how it will engage with the metaverse and its occupants.

For executives to consider

Executives should have a clear understanding of the current and future potential of the metaverse to ensure that their business is successful.

For policymakers to consider

Policymakers need to consider the local economy and industry to ensure the business has a viable market, as well as create incentives to encourage entrepreneurs to set up shop in the Metaverse. Additionally, they should think about developing regulations for working and doing business in the Metaverse that are balanced and that protect workers, consumers and the environment.
magnifiercrossmenuchevron-down