Metaverse Technology
The next phase of the internet, Web 3.0, also known as the third generation of the internet will transform the future in many ways than one. Data has already become free. In the upcoming years, data and perhaps a lot of things related to data will become decentralized. They will be residing on blockchain networks, which will make them decentralized. There will be massive changes for web users.
The transformation has already begun with the creation of something called the metaverse. Metaverse Technology combines blockchain with artificial intelligence, virtual reality, and augmented reality; collectively known as XR or extended reality experiences. A metaverse technology is basically a three-dimensional virtual world that can be approached through a VR headset. Although it is available on many browsers. This has made the metaverse accessible on any device. The users in metaverse can literally navigate this virtual world with voice commands, eye movements, and feedback controllers. They can interact with each other via avatars and also participate in social activities like gaming, shopping, and more.
According to Emergen Research, the metaverse market will be reaching a whopping $800 billion by 2028. Another report by consulting firm McKinsey & Co predicts that the market could reach up to $5 trillion by 2030. Data suggests that e-commerce in the metaverse will comprise around $2 trillion to $2.6 trillion of the total amount. Virtual advertising will generate another $144 billion to $206 billion. Comparing the data with last year, the agency said, the spending around AI added up to $93 billion during the previous year.
AI, blockchain, and XR work together
XR has managed to create a virtual world that never existed before. Anyone can become anything in that world. Blockchain on the other hand has brought decentralization. This has eliminated any form of centralized governing authority. It has also generated transparency and irreversible transactions. One of the key components of the metaverse is non-fungible tokens or NFTs. In simple terms, all the objects that exist in the metaverse- land, vehicles, and gift items are basically NFTs. It is perhaps the backbone of the metaverse technology.
AI adds an intuitive interface to the metaverse. The users can overcome the problems of poor interactive quality and can also create new products like virtual conferences and events and family functions. This makes life easier for the avatars along with more dynamic gaming. Interactions become more engaging and businesses successful.
More about the mixed reality metaverse
AI and XR have amalgamated to develop the mixed reality experience or MR in the metaverse. Human-AI interactions have been limited to the B2B world to date. However, new projects are developing that showcase integration of AI into the B2C world. Koop360 is an excellent decentralized, open-source, and customized BOT platform that is dedicated to developing the Metaverse ecosystem and NFTs. It uses various Artificial Intelligence and Machine Learning tools and technologies. Users can also develop interactive games using this dynamic platform. The codings are self-generated and enable the development of a metaverse that consists of augmented or VR mixed with a human-touch-based ecosystem.
Users can not only try apparel in the metaverse store of their favorite brand and also bargain with the sellers but can also have the products delivered right at their doorstep. They can also work in their virtual office with a set of productivity tools.
The face of advertising is going to change in the future. Brands have already started to experiment with their presence in the virtual world. They are seeing the need for a very different set of marketing skills that are closer to videogames and movies. A stunning 95% of the executives in McKinsey’s study have said that they believe in the metaverse having a positive impact on their respective industries in the upcoming 5 to 10 years.
Tech and clothing brands are teaming up and leaning towards the idea of ‘twinning’. This concept entails the users wearing the same clothes in the physical world as their digital avatars. A leading clothing brand sold a black beanie cap in its store after becoming popular on a metaverse platform. An executive of the brand said that there is going to be a trend where people will want to wear the same clothes in the physical world as their digital avatars.
CONVERSATIONAL AI WILL SHAPE THE METAVERSE
These systems resemble human-to-human communication. Voice assistant AI technology has entered the metaverses. They are able to give lifestyle assistance and personalized recommendations. For example, users can now take a tour of great locations with the assistance of AI-powered bots. They are not required to go down to a travel agency’s office anymore.
An AI assistant in a metaverse is a machine that delivers unique recommendations based on the preferences of the avatar. Considering the amount of data available on every person, the potential of this function can be imagined.
Avatar’s requests can be interpreted by the voice AI in a more human and natural language while considering the taste and preferences of the individual. Personalized speech technology is making the metaverse interface smarter.
SUMMING UP!
The pace at which technology is moving forward is absolutely incredible. The human touch in the virtual universe will not only attract more users into the metaverse but also make them feel at ease.
Therefore, if you too want to experience the metaverse technology to the fullest form with the perfect blend of human-AI communication, you should try using Koop360. It is a community-based project maintained by the community through bots. It is a peer-to-peer and open-source development where amateurs, as well as experts, can work towards Community Choice and Governance.
