Innovation is about solving problems or creating opportunities by thinking differently. It’s driven by exchanging ideas with others, by challenging your thoughts and confronting your point of view. 

The digital world is changing and with it is becoming more fun and more social. Our lives have drastically changed over the last two years and workplace and personal interactions look vastly different to what we could have imagined in Pre- Pandemic times. The Metaverse experience, being either fully immersive or via a web-browser, creates a lot of opportunities. The nature of our day-to-day interactions and exchanges has gone beyond the purely transactional e.g. I buy, I consume etc.  Instead, we now have the opportunity to engage and interact with people and experiences from every corner of the world without leaving our homes.  

The Metaverse is here to reshape the world but what exactly is the Metaverse and what is the future of this new web 3.0? 

  • The Metaverse is a digital environment where you can work, collaborate, shop, meet friends and have fun.  
  • The Metaverse is a shared virtual collective space, resulting from the convergence between the physical and digital worlds 
  • It is a model based on 2D or 3D platforms which makes it independent of the device used and accessible from any device – from tablets to virtual reality headsets. 
  • The Metaverse is a persistent model, offering virtually enhances immersive experiences Vs the physical and digital worlds. 

The web is entering a new era, marked by the emergence of metaverses 

What does the future look like? 

Obvious use cases that stand out 

  • Digital entertainment events: The virtual environment will help host virtual concerts, launch parties, and events spanning numerous industry verticals. 
  • E-commerce: Virtual shopping malls and digitized retail products will allow users to look at items with friends, talk to company representatives and influencers about products, as well as digitally try out goods. 
  • Virtual Advertising: In-platform ads allow users to bring their digital avatar and become an active participant, offering an immersive experience where they can interact with real-life physical items as well as digital Metaverse-oriented items. 

Use cases still to be explored 

  • Smart Manufacturing: By utilising simulations, manufacturers could significantly cut down on project costs, time, and wasted resources. Virtual representations of real-world physical assets or systems which are continuously updated can help a lot. 
  • Healthcare: Early use cases involving healthcare training are emerging while surgical procedures already use robotics, complex surgeries and training may benefit from augmented and virtual reality applications. 
  • Education: The Metaverse could help students receive an immersive learning experience, as well as enjoy the range of other campus activities online to encourage students' creativity and collaboration. 
  • Recruitment and Training: The recruitment industry will use the Metaverse to interview job candidates and offer them the ability to meet people and find out more about culture, values and opportunities of a company. 
  • Public Services: Sovereign governments, public offices and central banks are embracing different components of the Web3/Metaverse to create virtual communication ecosystems for some areas of administration. 

At BearingPoint, we are an innovative company that is ahead of the curve regarding metaverse technology and more broadly with virtual reality technology. The potential for businesses in the metaverse is endless. 

Join BearingPoint on the journey into the future!

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