Why the Industrial Approach to the Metaverse Is Resonating How some are finding success in the age of the Metaverse with useful, working applications like real-world augmentation.
By Entrepreneur Store Edited by Jason Fell
Our biggest sale — Get unlimited access to Entrepreneur.com at an unbeatable price. Use code SAVE50 at checkout.*
Claim Offer*Offer only available to new subscribers
Disclosure: Our goal is to feature products and services that we think you'll find interesting and useful. If you purchase them, Entrepreneur may get a small share of the revenue from the sale from our commerce partners.
We've heard a lot about the metaverse in recent years, but what if there were more interesting and practical approaches to this concept than what's written about Zuckerberg's Meta? The company formerly known as Facebook's social approach to the metaverse isn't the only way to take advantage of the next generation of the internet. Some of the most promising applications have come from the world of industry.
According to a report from Capgemini Research Institute, 93 percent of consumers are curious about the metaverse. The report breaks down how they're curious about using it to sample products and experiences and even visit and explore places virtually.
Retail brands are taking notice of this curiosity. Effective virtual shopping experiences like the Dyson Demo VR let customers test, try, and learn about Dyson products in an immersive digital environment. Putting visualization and simulation technologies used by Dyson engineers in the hands of consumers, this demo exemplifies the connectivity and commercial potential of 3D metaverse marketing.
In addition to creating virtual experiences for customers, companies are focused on interactive applications for employees themselves, which help fuse this new-age internet with the physical world. For a real-world augmentation example showing how the metaverse can enhance employee experience, look at the rise of the Virtual IPO. When the company Unity went public in 2020, its Listing Day celebration was shown on Unity Interactive Streaming, offering interactive and immersive features for those tuning into the New York Stock Exchange-based event — a first for employees of a company going public and the metaverse.
The technology has since been made available to the NYSE for other companies to use, with dozens of virtual IPOs in the books and several hundred thousand virtual bell rings. You can check out a showcase of how Unity Interactive Streaming supports virtual IPOs at this webinar on May 31st: sign up while spots are still available.
Many industries are also working to bring the new version of the Internet to life with the help of digital twins. These accurate, real-time representations of physical assets and systems are game-changers for manufacturing, construction, architecture, and other infrastructure-related industries.
For example, award-winning architecture firm SHoP Architects used digital twins to forecast and solve challenges when constructing The Brooklyn Tower — a 93-story NYC skyscraper. Not only do live construction data and 3D renderings help align architecture with development, but they also set up building owners for better management and maintenance in the future.
These examples of real-world digital applications are already helping businesses and individuals operate faster and more efficiently.
Could these examples, and many others, change your views on what the metaverse is? Metaverse skeptics: might you learn something about how VR consumer demos, real-world augmentation, and digital twins already empower people and, therefore, is the metaverse?
To keep track of Unity, visit its website and follow the company on Twitter.
Written by Sebastian Little
