metaverse – Quantilus Innovation http://quantilus.com AI Driven Innovation Wed, 12 Feb 2025 18:41:07 +0000 en-US hourly 1 https://wordpress.org/?v=6.2.6 http://quantilus.com/wp-content/uploads/2023/03/Quantilus-FavIcon-1.svg metaverse – Quantilus Innovation http://quantilus.com 32 32 5 Brands That Successfully Entered the Metaverse http://quantilus.com/article/5-brands-that-successfully-entered-the-metaverse/ Wed, 04 May 2022 16:50:40 +0000 https://quantilus.com/?p=10915

5 Brands That Successfully Entered the Metaverse

Metaverse Shopping

Prefer to listen instead? Here’s the podcast version of this article.

The metaverse has seen a meteoric rise from a niche concept to an achievable reality. The idea of metaverse took off from the premise of a decentralized internet and now promises to be a virtual world that mimics our physical realm. Massive corporations like Meta, Microsoft, Google, Amazon, and Tencent are all backing the metaverse.

Some companies have already jumped into the vast, immersive, highly-interactive world to expand their business. This article will look at five brands that entered the metaverse and created a splash.

 

Fortnite x Balenciaga

The luxury fashion house, Balenciaga, entered the metaverse in late 2021 through a partnership with the video game makers Epic Games. The Fortnite x Balenciaga collab contained in-game limited-edition skins and outfits for avatars in the Fortnite game, which boasts a staggering 350 million users worldwide. The collab also featured an accompanying real-world Fornite x Balenciaga clothing line.

 

The in-game Balenciaga merchandise was a mix of skins and outfits, including a designer pickaxe, a bling backpack, and Balenciaga Triple S Sneakers. Most items were available to buy via in-game currency. A virtual store that replicated real-world Balenciaga retail spaces was also created, where users could try on clothes and buy cosmetic upgrades. The store was live for one week only. Furthermore, Balenciaga and Fortnite took their metaverse partnership one step further with real-life, 3D billboards in New York City, London, Tokyo, and Seoul.

 

 

Hyundai x Roblox

In October 2021, Hyundai Motor Company announced the launch of Mobility Adventure, a metaverse space on the gaming platform Roblox. This featured Hyundai products and future mobility solutions. Roblox, a rapidly growing entertainment platform in the metaverse industry, has a daily user base of 43 million and served as a perfect launching pad for the Korean car manufacturer.

 

Mobility Adventure represents the first foray into the metaverse for a global vehicle manufacturing brand. This shared virtual space lets users experience Hyundai Motor’s mobility offerings virtually via immersive, interactive features. Hyundai’s goal with this venture is to attract young, tech-savvy fans to explore their current and future product offerings, helping nurture long-lasting relationships.

 

 

Nike x RTFKT

Nike acquired the non-fungible token studio RTFKT in December 2021 as a tool to access the metaverse. RTFKT produces NFT collectibles and memes, most notably digital sneakers, and aims to merge culture and gaming. Their most famous collab was with teenage artist FEWOCiOUS, to sell physical sneakers paired with their digital counterparts. RTFKT managed to sell 600 pairs/NFTs in seven minutes as part of the venture and netted more than $3.1 million.

Nike’s acquisition of RTFKT indicates its intent to produce and sell Nike-branded virtual footwear, apparel, and accessories in the metaverse.

 

Gucci x Roblox = Gucci Garden

Roblox also partnered with fashion giant Gucci in 2021. The result was Gucci Garden, a unique and interactive virtual exhibit. The exhibit’s unveiling was concurrent with Gucci’s release of Gucci Garden Archetypes—an immersive, real-life multimedia experience in Florence, to celebrate the fashion house’s 100th Anniversary.

Gucci Garden was a two-week art installation focusing solely on building brand awareness among young customers. Gucci Garden offered various themed rooms that paid homage to the brand’s campaigns over the years, creating a mesmerizing experience that transcended the laws of physics. While visiting the rooms, each visitor’s avatar transformed into blank, genderless mannequins that could be dressed with digital Gucci products. As users wandered through the virtual world, the avatars absorbed elements of each area. The available Gucci items were sold in a revenue share model to ensure both the platform and brand received value.

 

 

Coca-Cola x Tafi

Coca-Cola teamed up with 3D creators at Tafi to auction special-edition, virtual NFT loot boxes, which raked in more than $1 million in sales. The auction took place on National Friendship Day and featured digital reimaginations of Coca-Cola’s famous assets that could be used in the metaverse. The loot boxes contained 1-of-1 Coca-Cola branded NFTs, like a futuristic Bubble Jacket Wearable, a Friendship Card, Coke’s vintage 1956 cooler, and a sound visualizer that makes the sound of a bottle opening and being poured. The digital apparel could be worn on Decentraland, an open-source, decentralized gaming platform built on the Ethereum blockchain. The winning bidder also received a real-life Coca-Cola branded fridge.

 

Participants bid on Coca-Cola Friendship Boxes during the auction, which appeared as virtual avatars of Coke’s classic vending machine. NFT goodies were found upon opening their prizes. Tafi and Coca-Cola created a strong sense of community among crypto users and young audiences, blending nostalgia with cutting-edge technology.

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Metaverse business partnerships, like other first-time ventures, have pros and cons. Companies should perform adequate research, strategizing, and planning before tackling the immersive, 3D world. Don’t wait too long though, at its beginning stages, the metaverse allows companies to garner more hype and better reach the next generation of consumers. The metaverse is here to stay, and it’s time you got an entry pass.

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]]> Decentraland vs Sandbox: Comparing the Metaverse Platforms http://quantilus.com/article/decentraland-vs-sandbox-comparing-the-metaverse-platforms/ Wed, 16 Mar 2022 22:20:07 +0000 https://quantilus.com/?p=9505

Decentraland vs Sandbox: Comparing the Metaverse Platforms

Decentraland vs Sandbox: Comparing the Metaverse Platforms

Prefer to listen instead? Here’s the podcast version of this article.

The metaverse has been a hot topic of late. As tech giants announce plans to build their own metaverses and pour millions (and sometimes billions) of dollars into the emerging virtual worlds, consumer interest is spiking.

 

Unbeknownst to some, there are some metaverses already available to the public. Two of the leading metaverses currently accessible to users are Decentraland and Sandbox. To understand these two virtual worlds and what they offer, we dive into each platform and cover the basics below.

 

Decentraland

Decentraland was one of the first players in the metaverse. The platform launched in 2017 with an initial coin offering of $26 million (raising 86,206 ETH) to provide a comprehensive and immersive 3D metaverse. Since its debut, Decentraland has been the longest-existing and operational metaverse project to date.

 

Based on the Ethereum blockchain, Decentraland allows users to participate in various activities. Users can play games, buy and own land, attend events like concerts, and even gamble in casinos. Users can access Decentraland through an internet browser and do not need an account, however, creating an account grants users access to more features.   

 

Decentraland is associated with two specific tokens — MANA and LAND. While MANA is the native token of this metaverse, LAND represents parcels of land in the virtual world. Users can spend (burn) MANA to get LAND tokens, along with upgrading and buying avatars, names, products, services, and more.

 
Buying Land in Decentraland

Powered by cryptocurrency, every tract of virtual land is represented as an NFT. Much like land in the real world, there is a finite amount of land in Decentraland. Therefore, no more land can be created, which increases the value of the land due to scarcity. In total, there are 90,601 plots of land in Decentraland.

 

As the name suggests, Decentraland is decentralized. Decentraland offers buyers complete ownership access. Profits produced off this “land” go entirely to the owners and anyone using the land. No regulatory authority exists to take a cut from land sales, which also means there are no taxes. Additionally, users can even buy a mortgage in Decentraland.

 

Sandbox

Sandbox is a decentralized gaming platform built on Ethereum, where users can create, use, and sell NFTs. To access Sandbox, users need to create an account with the platform.

 

A differentiating aspect of Sandbox is that it is a user-generated content ecosystem where users create and build the virtual world. Contributing to this metaverse is relatively simple, even without any coding knowledge. There are three main methods within Sandbox that allow users to create and add content with minimal hassle. They are: 

 

  • VoxEdit to create NFT game assets.
  • A Marketplace to buy and sell assets.
  • The Game Maker, where players can build their own (all codeless) gaming experiences.

 

Items, avatars, and characters created in VoxEdit are called ASSETS, which can be turned into NFTs. As for Sandbox games, they run on 3D pixels called voxels. Think of voxels as virtual Lego pieces users can leverage to build experiences within the platform.

 

$SAND is the native token used in Sandbox. Players must own $SAND to play games, customize avatars, buy LAND, or trade ASSETS on the Marketplace. $SAND owners can also propose and vote on potential changes to the platform. To get $SAND, users can play Sandbox games, participate in contests, or buy it on cryptocurrency exchanges such as Binance.

 

Users can stake $SAND inside the game to earn rewards, which may even amount to a share in the revenue generated from $SAND transactions. Staking $SAND also increases a user’s chance of finding GEMs and CATALYSTs — resources required to create more rare and valuable ASSETS.

 
Buying LAND in Sandbox

Much like Decentraland, LAND in Sandbox is represented as an NFT on the Ethereum blockchain. LAND can be purchased, customized (developed), and sold. Users can build everything from games to art galleries on LAND. In total, there are 166, 464 plots of land in Sandbox. Users can purchase land on the Sandbox platform, as well as on OpenSea.

 

Which Metaverse Is Right for You?

The Decentraland and Sandbox metaverses focus on different areas. Decentraland places a larger emphasis on buying, selling, and trading digital land on the platform. Therefore, Decentraland is more popular among investors and businesses looking to invest, as they view real estate in Decentraland as a high-growth opportunity. However, the market is still volatile and careful consideration and research should be done before investing in plots of land. Decentraland is also ideal for users who wish to utilize the platform’s built-in activities, such as games, gambling, and concerts. 

 

On the other hand, Sandbox is more geared towards artists, creators, and players. Sandbox permits and encourages users to build the Sandbox world according to their imagination. This gives players more control of the platform and allows them to influence the direction of the virtual world. Additionally, Sandbox plans to launch a DAO in 2022, which will grant users even greater input in the platform’s operations and future.

 

In the showdown of Decentraland vs. Sandbox, the winner depends on a user’s preferences and what they want out of their metaverse experience. Decentraland tends to be better for users who wish to buy, trade, and sell land, while Sandbox may be better suited for individuals who want to help shape and build the emerging platform. Overall, the growing interest in both platforms prove to be optimistic for the longevity and popularity of the metaverse.

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]]> How Businesses Can Leverage the Metaverse http://quantilus.com/article/how-businesses-can-leverage-the-metaverse/ Mon, 14 Feb 2022 20:00:13 +0000 https://quantilus.com/?p=9412

How Businesses Can Leverage the Metaverse

Metaverse

Prefer to listen instead? Here’s the podcast version of this article.

The metaverse is full of opportunities. Developers have promised exciting and engaging features that users will experience in the virtual world, including shopping, traveling, and attending concerts. There is also an array of opportunities the metaverse offers businesses that can boost revenue and expand their digital presence. To find out how companies can leverage the metaverse to grow their business, check out our list below.

1) Advertising

Advertising in the metaverse offers an entirely new channel for businesses to reach consumers and market their products and services. These engaging advertisements will be more impactful to consumers as they can better understand and assess products. Furthermore, the metaverse allows companies to reach a global consumer base and provide customer product testing in real-time.

The shoemaker, Vans, has already found success advertising in the Roblox metaverse. Vans created a branded skatepark in Roblox that enables players to perform new skateboarding tricks that garner points. These points can then be used at the Roblox store to make in-app purchases.

2) Remote Working

COVID-19 is primarily credited for the massive shift towards remote work. There are issues with the work from home model though, such as Zoom fatigue and decreased employee engagement, both of which may lead to burnout and feeling isolated.

The metaverse aims to solve these concerns by creating an interactive environment that employees can access from the comfort of their homes. Workplaces in the metaverse will contain office buildings, meeting spaces, lounges, and dining rooms, where employees across the world can work and interact in a collaborative and life-like manner. In return, the workplaces in the metaverse will also help bring back networking opportunities, which have become relatively obsolete in the remote work era.

3) Events

Fashion shows, concerts, product launches, and conferences will be commonplace in the metaverse. This allows in-person events to utilize the hybrid model, which offers a mix of in-person and virtual aspects. Hybrid events significantly increase the number of potential event attendees since people do not have to be at the event physically. Instead, attendees can access metaverse events from anywhere in the world.

For example, Samsung hosted its Galaxy Unpacked event in the metaverse, alongside live-streaming the event on YouTube, Twitter, and other social platforms. At the event, Samsung revealed new products, encouraged attendees to explore the virtual re-creation of their New York City flagship store, and offered performances by various musical acts.

4) Cryptocurrency

The metaverse market offers a plethora of business opportunities, with cryptocurrency at the helm. Cryptocurrency makes it simpler and quicker for buyers and sellers to transfer funds in a secure method. Each metaverse can create its own alt-coin, where users on the platform must use that cryptocurrency to make purchases. Furthermore, selling NFTs in the metaverse can be extremely lucrative for businesses.

Fortnite and luxury fashion brand Balenciaga partnered to create NFTs for Fortnite users to purchase. With each purchase, the buyer received a virtual piece for their avatar, as well as a matching physical product that was shipped to their buyer. The prices for the NFTs ranged from $395 USD for a hat, up to $1,290 USD for a denim jacket.

5) Digital-Only Products

Digital products have been popular in video games for years and include outfits for game characters and additional map packs/worlds. This concept also expands into the metaverse, as companies can now sell digital-only products on the platform.

An example of this, Gucci created a line of virtual handbags. These bags were featured exclusively in an exhibit within the gaming metaverse platform, Roblox. Roblox users could then purchase the bags, which can be used to style and customize their avatars.

6) Product Testing

Bringing new products from idea to shelves is expensive and time-consuming for businesses. However, the metaverse can make the process less costly and more efficient. This is because companies can experience test the virtual versions of the product with users in the metaverse before putting the product through production. Buyers can also benefit from this because they can better assess a product before buying it.

Dyson, the technology company, created Dyson Demo VR. This allows consumers to test their products in virtual reality to better understand the product before purchasing.

The metaverse is full of possibilities for users and companies alike. Businesses that want to grow their operations need to start planning for how they will enter the metaverse and determine which avenues make the most sense for them. By leaning into the emerging technologies and features the metaverse provides, companies can evolve their businesses to align with the next generation of consumers.

For more updates and news on tech trends and emerging technologies, continue to check our blog. Lastly, if you are curious how Quantilus can help your business or would like more information, contact us at info@quantilus.com, and we can set up a time to talk.

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]]> SWOT Analysis of the Metaverse for Businesses http://quantilus.com/article/swot-analysis-of-the-metaverse-for-businesses/ Mon, 14 Feb 2022 19:20:21 +0000 https://quantilus.com/?p=9403

SWOT Analysis of the Metaverse for Businesses

Prefer to listen instead? Here’s the podcast version of this article.

Many of the world’s biggest companies have recently endorsed the metaverse, such as Meta, Microsoft, and Tencent. As companies quickly hop on the metaverse bandwagon, it is essential to analyze all aspects of the virtual world, not just the highlights that tech giants are focusing on. Our SWOT analysis for the metaverse breaks down the virtual world’s strengths, weaknesses, opportunities, and threats so that businesses can get a complete picture of the platform. Keep reading to uncover the findings.

 

Strengths

 

1) Consumer-Oriented

Companies are already exploring marketing and selling within the metaverse. Since the metaverse utilizes virtual and augmented reality technologies, businesses can produce more interactive, personal, and customizable user experiences to reach consumers.

For example, clothing retailers can advertise a parka jacket in the metaverse to users in Alaska, and users can try it on before buying it and having it shipped to their homes. This level of interactivity allows brands to reach customers in fresh, exciting, and engaging methods. Additionally, companies can sell digital goods in the metaverse that solely exist in the virtual world. For example, Lamborghini could sell virtual vehicles that users can drive in the metaverse, while IKEA could sell virtual furniture for office buildings. Overall, the metaverse opens up various new methods for businesses to sell products to consumers.

 

2) Business-Oriented

There are aspects of the metaverse that directly and positively impact businesses, one of which is incorporating blockchain technology. The blockchain will transform traditional payments and currency transfers into an entirely digital process. One that will offer near-instantaneous transfers that are secure, private, and free from regulatory bottlenecks.

Additionally, technologies like NFTs in the metaverse will enable easier transactions of digital assets. Augmented and virtual reality will also create more immersive workspaces for remote employees. Lastly, businesses will be able to collect more information on users based on their chosen customizations and preferred experiences, which can be used for marketing. These features make the metaverse an ideal platform for business to occur.

Weaknesses

1) Lack of Technology Infrastructure

Although the metaverse is already here in limited capacities, the digital worlds are still in the beginning stages. The technologies to create the complete visions for the metaverse are still being developed, and we may not experience the full-fledged metaverse for years or decades.

There is also the issue of accessibility. When the technology to create the more in-depth aspects of the metaverse becomes available, businesses will need the infrastructure to support the digital world. Smaller companies that do not have the resources to invest and expand into the metaverse will not be able to participate. Even Mark Zuckerberg, CEO of Meta, predicts the large-scale adoption and mass accessibility required for metaverse features to go mainstream could take anywhere from five to ten years.

 
2) Lack of Experts in the Field

Metaverse development will require professionals to possess skills in several emerging technologies. These include skills in the realms of blockchain, advanced cryptography, cryptocurrencies, and virtual and augmented reality.

Businesses are already struggling with the accelerated adoption of the necessary technologies and the upskilling that the metaverse demands. Jobs like metaverse builders and designers are on the rise, and building the replica of a physical universe will require input from civil and mechanical engineers. The demand for professionals with these skills outweighs the supply of qualified candidates, which will likely further delay the public release of the metaverse.

 

Opportunities

1) Expanding Digital Footprint

The metaverse allows businesses to reach customers in a new medium and provides an additional platform to sell products and services.

Increased focus on user engagement in the metaverse will force businesses to boost their virtual presence in terms of stores, unique experiences, and event tie-ins. Meanwhile, cryptocurrency-based transactions will ensure that purchases in the metaverse are secure, speedy, and translate into real-world product ownership. This will give businesses a greater online presence and offer more ways for consumers to interact with their favorite brands.

 

2) Increasing Revenue Models

The metaverse will offer new revenue models for existing businesses, as companies will no longer be confined to the physical world. Businesses can currently sell various items and experiences in the metaverse, such as clothing for user avatars, NFTs, real estate, advertising space, immersive experiences, and educational courses. As the metaverse continues to be built, new revenue models will arise, making the metaverse a prime place for companies looking to expand.

 

Threats

1) Cyberattacks

As the world shifts digital, cyberattacks have become more rampant, even impacting more secure technologies like blockchain and cryptocurrencies. These attacks will undoubtedly extend to the metaverse. Since the technology to create the metaverse is still being developed, vulnerabilities will be inevitable as developers will have to plug holes in the systems as they arise.

 

Weaknesses in the metaverse should decrease as the platform matures, leaving cybercriminals with fewer opportunities to exploit vulnerabilities. However, without strong cybersecurity rules and best practices in place, especially in the beginning stages, cyberattacks will carry into the metaverse and be one of the platforms’ most significant threats.

 

2) Crime

The metaverse is a publicly accessible digital playground built specifically without central authorities. Without any central organization(s) defining the rules, there are few guidelines for inappropriate behavior and crime and accountability for wrongful actions. Metaverse developers have yet to announce if there will be any regulatory officials in the virtual world.

One example of a crime in the metaverse that is already occurring is NFT knockoffs that are sold as authentic art pieces. If a buyer realizes they have been sold a spoof, there is little that can be done right now to retrieve the money back or find and hold the criminals involved accountable. This is largely because of the blockchain’s anonymity, making it highly challenging for investigators and law enforcers to identify criminals.

 

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There are many benefits and some drawbacks of the metaverse, especially when it comes to businesses. Like other emerging technologies, the metaverse offers great value to companies, but there are shortcomings that need to be ironed out as the technology advances.

 

If your business is looking to prepare and expand into the metaverse, there are key things to consider. These include the opportunities to reach consumers, additional revenue models, and expanding your digital footprint, as well as cons, such as crimes, cyberattacks, and the need to obtain adequate technology infrastructure and skilled employees. The metaverse offers a plethora of possibilities for businesses, but make sure to do adequate research to ensure your company’s expansion into the metaverse is successful.

 

For more updates and news on tech trends and emerging technologies, continue to check our blog. Lastly, if you are curious how Quantilus can help your business or would like more information, contact us at info@quantilus.com, and we can set up a time to talk.

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]]> Emerging Tech Trends from CES 2022 http://quantilus.com/article/emerging-tech-trends-from-ces-2022/ Thu, 03 Feb 2022 21:27:23 +0000 https://quantilus.com/?p=9372

Emerging Tech Trends from CES 2022

CES 2022

Prefer to listen instead? Here’s the podcast version of this article.

Since its inception in the 1960s, the Consumer Electronics Show (CES) has been a portal into the future, highlighting the latest cutting-edge technology. Like CES 2021, most of CES 2022 was virtual, but that did not deter companies from showcasing their latest products and findings. Product innovations shifted from 2021’s health and safety-oriented needs to 2022’s focus on eco-friendliness, hybrid working, wellness, and privacy. Below are the most significant trends that emerged from this year’s conference.

 

Electric Cars and Autonomy

Multiple electric cars were unveiled as part of the ‘ongoing electric car race,’ with most major car manufacturers showing off their latest and greatest.

 

The most talked-about vehicle was BMW’s iX Flow. The German car manufacturer collaborated with E-ink, a company known for producing technology used in popular e-readers, such as the Kindle and Nook. The collaboration sees BMW using E-ink’s Prism technology, which is a swath of electrophoretic microcapsules laminated atop a plastic film roll. This technology allows the car’s exterior to change color at the touch of a button. This concept vehicle can toggle between black and white, showing a radical vision for the future of cars.

 

The other electric car that created a significant buzz came from the unlikely contender, Sony. Dubbed Vision-S 02, this all-electric SUV is the next iteration of Vision-S 01 that the electronic giant unveiled at last year’s CES (Vision-S 01 is currently being tested on European roads). Sony stated that their line of electric vehicles would eventually be configured to achieve level 4 of autonomous driving. Level 4 is nearly fully automated driving, with optional human overriding. Both Vision-S cars currently sit at level 2 ‘partial’ autonomy, which requires human monitoring at all times.

 

Autonomous driving (ADAS/AD) was on full display this year, with multiple manufacturers revealing their in-progress projects. General Motors showed off the evolution of their hands-free Ultra Cruise ADAS system that can now handle 97% of all driving scenarios. Additionally, Chinese eclectic vehicle manufacturer, JiDU, announced their first vehicle to have level 4 autonomy.

 

Excitement around ADAS/AD culminated in an autonomous car race. Autonomous racing teams from around the world converged on the Las Vegas Motor Speedway to compete against each other for the fastest time.

 

Blockchain and the Metaverse

Cryptocurrency and blockchain technologies were widely featured throughout the show. Companies like Samsung and Hyundai presented their versions of integrating several blockchain-built products.

Samsung announced the world’s first TV with built-in NFT support. Its 2022 lineup of smart TVs will now come with features that allow digital creators to showcase their art in the form of NFTs. Prospective buyers can preview an NFT before buying it and see the history of the NFTs and their related metadata. Samsung also explained that the TVs would intelligently tune the display settings to match the art creator’s preferred preset for their art. Thus, the artworks are represented in their most original, true-to-life quality.

 

Hyundai went all-in on the metaverse with their concept of ‘metamobility.’ According to Hyundai, metamobility expands human reach through robotics and metaverse. This looks like a future where robots are used as bridges between real and virtual worlds, and automotive vehicles become keys to access the metaverse. Hyundai’s Mobility of Things (MoT) concept will also use robots to expand mobility to traditionally inanimate objects.

 

The Increasing Focus Towards Mobile Devices and Platforms

The competition for mobile platforms took center stage again. Major players went all-in on shifting towards on-the-move platforms. AMD showcased their Ryzen 6000-series of processors that should arrive in laptops next month. Compared to existing Ryzen 5000 processors, the new chips offer 11% better single-core and 28% better multi-core performance, 2x better graphics, and improved thermals and battery life. Ryzen’s rival, Intel, was claimed similar benefits with their 12th generation Alder Lake processors.

 

For laptops, the focus was on dual and foldable screens. ASUS went the foldable display route with its beautiful Zenbook 17 Fold OLED. Lenovo took the dual-screen approach with its ThinkBook Plus Gen 3, which delivers an 8-inch, secondary display on the right-hand side of the laptop.

 

As for mobile phone manufacturers, OnePlus, Samsung, HMD Global, and TCL all teased or revealed new 5G capable smartphones.

 

Accessible Healthcare and Wellness

Similar to last year, companies highlighted their range of healthcare and wellness-focused products. This year, accessibility was the name of the game, as we saw a shift towards making healthcare and wellness tech widely accessible.

 

Omron Healthcare announced their new range of connected remote patient monitoring devices, including a blood pressure tool, part of their VitalSight moniker. These tools use cloud-based central data repositories to easily share user data between patients, doctors, and medical institutions.

 

Other interesting products include:

  • Avokad’s nutritional-needs tool collects data by using nano-sensors and AI to analyze ketones from a user’s breath
  • Circular Ring’s smart ring tracks sleep patterns and activity trends
  • BBalance’s mat-based scale aims to improve posture
  • Caregiver Smart Solution’s non-intrusive array of home sensors that monitors seniors and alerts caregivers if adverse changes are detected

 

With major players opting out of a physical presence due to pandemic woes, CES 2022 felt like the previous year. However, positive outcomes emerged, with key innovations centered around sustainability, accessibility, and autonomy. Furthermore, metaverse, electric vehicles, mobile devices, smart home, and wellness tech were highlights.

CES 2022 saw emerging technologies from the 2021 show evolve into production-ready versions. Looking ahead, blockchain, Web3, self-driving cars, smart homes, and other budding technologies already have us excited about next year’s show.

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]]> 10 Things to Expect in the Metaverse http://quantilus.com/article/10-things-to-expect-in-the-metaverse/ Fri, 21 Jan 2022 16:41:13 +0000 https://quantilus.com/?p=9344

10 Things to Expect in the Metaverse

Metaverse

Prefer to listen instead? Here’s the podcast version of this article.

Since Mark Zuckerberg announced in October 2021 that Meta (previously known as Facebook) was investing heavily in the metaverse, tech news has been dominated by the virtual world. Also, Microsoft recently announced its acquisition of gaming publisher, Activision Blizzard, foretelling the tech giant’s commitment to the metaverse. Countless articles, videos, podcasts, and the like have been created on the topic, detailing what consumers can expect from the metaverse. While we are not entirely sure of everything that will be available in the metaverse, some educated guesses are more likely to come to fruition than others. Here’s a list of 10 things that consumers can expect to experience in the metaverse:

 

1) Shop

The metaverse opens new opportunities in e-commerce. 3-D, interactive shopping experiences give consumers access to goods and services in unique ways. For example, instead of a static website replicating a physical Apple store, consumers could walk around in the virtual store, play with the latest iPhone, and attend Genius Bar workshops. Or, in a clothing store, consumers could try on garments in a dressing room before buying and having the physical version of the clothes shipped to their homes. Moreover, integrating cryptocurrencies in the metaverse means people can pay in a more secure and fast way for the goods.

 

2) Real Estate

People have been buying real estate for centuries as a way to invest their money and secure a place to live. Now, the metaverse is bringing a new option for investors—virtual land. Land is already being scooped up and sold in the metaverse, with prices going into the millions. Similar to the physical world, the main factor in determining price is the location. So land near an area with heavy foot traffic will come with a higher price tag, as well as land in desirable locations. Recently, one user even paid $450,000 to be Snoop Dogg’s neighbor in the metaverse.  

 

3) Attend Concerts

Virtual concerts are not new, with games like Fortnite and Roblox already hosting concerts on a massive scale. However, the metaverse aims to take this one step further by creating virtual arenas and having fans attend the concerts alongside friends in 3-D form. Virtual reality increases immersion and adds a new dimension to the concert experience. Fans may also get to customize the show’s environment and location to fit their liking. For example, don’t like the Burning Man festival in the middle of a desert? Take it to the beach or even the mountains!

 

4) Work

The pandemic has forced us to rethink the future of work, with hybrid and work-from-anywhere models becoming the norm. However, one common drawback of these models is the challenge of employee engagement since everyone is geographically dispersed. In the metaverse, though, work is once again immersive and collaborative. Employees choose where they work, how they work, and with whom they work.

Companies like Hyundai and Siemens have already started to utilize the concepts of the metaverse to hire employees. They replaced the historically stale interview process with an interactive, virtual-reality-based hiring experience.

 

5) Socializing

With Mark Zuckerberg and Meta being at the forefront of the metaverse, social networking will undoubtedly experience a radical change in the virtual universe. The metaverse aims to replicate in-person socialization as much as possible. Endless customizations will allow users to select whomever they want to meet up with in whichever environment they choose. Therefore, physical distance separating individuals will become less of an issue. It also has the potential for traditionally marginalized communities to coexist comfortably, mingle, and be their authentic selves in a dedicated space. 

 

6) Games

Video games and virtual reality ultimately paved the way for the metaverse. Therefore, it is not surprising that gaming will be an integral component of the virtual world. With the metaverse, game immersion is taken to the next level. Players are transported into the environment instead of looking at a 2-D screen. Imagine the current virtual reality world with Oculus and Vive headsets but on a much larger level.

 

7) Travel

In the metaverse, people will travel the globe in seconds. Consumers can visit any place on their bucket list without the hassle of booking tickets, dealing with airports, sitting on a cramped plane for hours, etc. Ever wonder how Paris looks from the top of the Eiffel Tower at sunrise? Or visiting the Taj Mahal during a full moon? Look no further than the metaverse.

 

8) Education

Education has already shifted virtual due to the COVID-19 pandemic. However, the metaverse’s increased immersion and gamification enhance the learning process. Students will see things at work and interact with them as they learn. Interactivity and immersion in education are effective methods in having students assimilate concepts more hands-only. For example, aspiring surgeons may perform virtual mock surgeries – and architects may design spaces of their choice. The metaverse has all the bells and whistles to ensure better knowledge retention in students that leverage it for education.

 

9) Exercise

Companies like Peloton and Apple are market leaders for at-home fitness regimens. VR-based fitness apps have recently started to gain traction, driving sales for VR headsets like Oculus Quest during the 2021 holiday season. By combining the fun, interactive, and gamified aspects of virtual reality with physical activity, working out may become more enjoyable and enticing to some individuals. Additionally, people can work out in the comfort of their homes instead of feeling intimidated by going to an in-person gym. 

 

10) Advertising

Advertisers will also reap the benefits of the metaverse, leveraging the power of virtual reality to reach consumers in new ways. Traditional methods will remain, including banner ads, regular in-app advertisements, and analytics-backed websites. However, fresher, more interactive ways will emerge, such as VR billboards, in-game sponsored content (akin to the recent Louis Vuitton x Fortnite collaboration), and virtual influencers. Furthermore, the metaverse will look to propel customer engagement further with evolving direct-to-consumer marketing that is more interactive, immersive, and engaging.

 

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The metaverse has matured from a science fiction buzzword to an achievable reality. While some things being said about the metaverse appear too ambitious (and they very may well be), others are already being produced and created. The recent shift towards blockchain, cryptocurrency, and a decentralized, virtual universe has made the metaverse possible. The metaverse promises to recreate our physical world virtually while adding greater immersion, possibilities, and personalization. 

For more updates and news on tech trends and emerging technologies, continue to check our blog. Lastly, if you are curious how Quantilus can help your business or would like more information, contact us at info@quantilus.com, and we can set up a time to talk.

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]]> The Role of Virtual Reality in the Metaverse http://quantilus.com/article/the-role-of-virtual-reality-in-the-metaverse/ Thu, 21 Oct 2021 17:32:37 +0000 http://3.87.238.128/?p=7768

The Role of Virtual Reality in the Metaverse

Prefer to listen instead? Here’s the podcast version of this article.

Since virtual reality was introduced to consumers, it has primarily been marketed as an innovative and fresh way to play video games. The most popular headsets tout their ability to level up the gaming experience, including Facebook’s Oculus, HTC’s Vive, and Sony’s PlayStation VR.

 

Throughout the past few years, there has been a shift towards finding new and alternative use-cases for virtual reality. Currently, virtual reality is being used and tested in education, sports, mental and physical health, retail, and more. Recently, there have been discussions around a much larger, more aggressive goal for virtual reality called the metaverse. In fact, Facebook just announced its plans to hire 10,000 employees in the European Union over the next five years to help create a metaverse. So, what is the metaverse and how will it incorporate virtual reality?

 

 

Defining the Metaverse

The metaverse, which some people are calling part of Web3, can be challenging to explain. This is mainly because one does not exist yet. However, people have presented their visions for the metaverse, which we will use as a reference. Essentially, think of the metaverse as an immersive, 3D, and communal virtual universe. Users will be transported into the virtual world, similar to how users are transported into a virtual reality video game through a VR headset. 

 

Accessibility

Now that we have a very basic understanding of the metaverse, how will users access it? Currently, the most commonly agreed-upon method of accessing the virtual universe is through VR headsets. In the future, technologists hope that VR headsets will not be needed to access the metaverse, but for now, VR headsets are the most promising method. This explains why companies such as Facebook are heavily investing in VR headsets and virtual reality in general. For more information on the current state of virtual reality technology, where it is headed, and current VR trends, listen to our podcast episode below with special guest Luke Levene, the VP of Sales at XRApplied. 

Exploring the Metaverse

You may be wondering what’s so special about the metaverse if we already have virtual reality. There are key differences between virtual reality and the metaverse. First off, it can be helpful to think of virtual reality as the vessel and the metaverse as the destination. Furthermore, when in the metaverse, users can do significantly more than play games, which at this point is the dominant use case for virtual reality. In the metaverse, users will be able to socialize with other humans around the globe, shop, conduct business, and more.

Additionally, cryptocurrency will play a significant role. Visionaries have stated their desire for metaverses to have their own cryptocurrencies to make purchases, as well as the option to pay with other common cryptocurrencies. Unsurprisingly, NFTs will also be an integral part of the metaverse.

 

The Role of NFTs

One of the key components of the metaverse is the incorporation of NFTs. NFTs are frequently regarded as a form of digital art, whether it’s an illustration, music, meme, virtual clothing piece, magazine article, etc. However, there is an entirely different use case for NFTs in regard to the metaverse. NFTs can represent land in the metaverse. 

In any particular metaverse, there should be a finite amount of land created. This creates scarcity. Scarcity increases value per the law of supply and demand. So, just as an individual in the real world would buy the deed to a plot of land, users in the metaverse will be able to purchase land in the form of an NFT. They are then free to hold onto the NFT for as long as they wish and can sell the NFT (aka the land) when they are ready. 

In fact, there is already land being sold as NFTs in virtual worlds. For example, Republic Realm, a digital real estate investment company, bought land in Decentraland for $913,000 in the form of an NFT. Decentraland is an Ethereum-based virtual reality platform. Also, Minecraft players can purchase land in the game by using Minecraft currency. The purchased land is also in the form of an NFT.

 

Key Players

There are a few key players in the race to build a metaverse, including the usual tech giants such as Facebook, Microsoft, Amazon, and Snap. Additionally, there are large companies that are not considered household names currently but are also investing heavily in the metaverse, such as Nvidia and Roblox.

Nvidia is known for creating computer graphics processors, chipsets used in automobiles and robotics, and is investing heavily in artificial intelligence. On the other hand, Roblox is an online gaming software where users can share games that they develop and create. Both companies are major players in the gaming sphere, so it does not come as a surprise that they are involved in the metaverse trend. 

The metaverse is a massive undertaking that consumers might not experience for decades to come, if ever. As companies grapple with transforming their visions for these artificial worlds into reality, virtual reality continues to be a key factor in the process. Who knows, by the time the metaverse is ready for consumer adoption, new technologies could emerge that replace the need for virtual reality. Only time will tell.

 

For more updates and news on tech trends and emerging technologies, continue to check our blog. Lastly, if you are curious how Quantilus can help your business or would like more information, contact us at info@quantilus.com, and we can set up a time to talk.

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