The metaverse is a concept of an online, 3D, virtual space connecting users in all aspects of their lives. It would connect multiple platforms, similar to the internet containing different websites accessible through a single browser.

Join us as we examine how the Metaverse will look in 5 years.

Impact on Manufacturing

The Metaverse has a lot of potential applications, and one of the most intriguing is its impact on manufacturing.

In the real world, prototypes take a lot of time and resources. They require constant tweaking. Moreover, once finalised, the product still needs to undergo rigorous testing before it’s ready for mass production.

Not in the Metaverse. Prototypes can be built by taking advantage of virtual engines like Unity. The idea is that you would be able to create a 3D model of a product and then send it to a professional printer who would print the physical product for you.

Companies like BMW and Hyundai have already created virtual twins of their production plants where they can test out new ideas without incurring the cost of building a physical prototype.

Virtual Real Estate Market

Digital real estate is a brand new concept. In the Metaverse, people will be able to buy, sell, and trade virtual land.

We expect the virtual world to mirror and adopt characteristics of the physical world, including economies. The Metaverse will have its own virtual real estate market where people can buy, sell, and trade virtual land.

The process has already begun. In Hong Kong, property tycoons have already started buying up virtual land. You can attribute the interest to the scarcity of real-world property in Hong Kong.

With virtual real estate, there is no need to worry about zoning laws or building permits. You can do whatever you want with your piece of the Metaverse.

DO WE HAVE THE TOOLS ALREADY?

So what will this new Metaverse look like? Will we all wear headsets and be transported to a virtual world? Or will it be something more subtle, integrated into our everyday lives?Agrodesign, the design firm that has spent years as an AR consultant for Magic Leap, seems to have an idea of how the future of Metaverse will look.The firm envisions the Metaverse as a natural extension of the Internet, where instead of visiting websites, you visit real places. Their mixed reality glasses add digital layers to real places. What’s more, Argodesign believes that the Metaverse won’t be limited to just entertainment and gaming. They think it will eventually become the new operating system for our lives.