We’ll hear a lot more about the metaverse in the new year. Not about the new name of Facebook, but about the technological successor to the Internet and the era of mobile devices and cloud computing.
In the metaverse we can combine our real and analog lives with our virtual avatars. Virtual and augmented reality devices will allow us to interact in an evolving programmed world via video. So far, this has only been a generation Z phenomenon. However, we expect other generations to join the metaverse in 2022 as well. It is clear that technology platforms and device manufacturers will benefit. But other companies are also beginning to see the opportunities the metaverse presents — especially since some Generation Z enthusiasts already see virtual products as more valuable than physical goods.
Online gaming platform Roblox is a good case study from 2021. It has more than 200 million monthly active users – almost half of them are under 13 – and offers hundreds of thousands of virtual games. The Gucci Garden Experience, a virtual theme park that only opened for two weeks in May, provides an environment where users can enjoy their consumption and purchase the luxury brand’s limited edition collectible virtual accessories for $1.20 USD.
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