Exploring the Practical Business Applications of the Metaverse. What do hotels need to know?
Metaverse and Web3 in Hospitality — Viewpoint by Simone Puorto
The metaverse is a rapidly developing technology with many potential use cases. However, it is important to note that mass adoption is not yet widespread and we are still in the phase of exploration and experimentation. Additionally, it's important to differentiate between use cases related to the open metaverse and those related to the industrial metaverse. The open metaverse is a virtual reality that is open and accessible to everyone, while the industrial metaverse is a virtual reality for specific purposes and is typically closed and only accessible to specific individuals or professionals.
In the open metaverse, there are many interesting use cases, including marketing, real estate, events, and virtual commerce. Marketing in the metaverse requires setting goals, reaching your target audience, testing, tracking, and being creative. Some examples of this include Samsung 837X, Nissan's showroom and the Metaverse fashion week in Decentraland.
Events in the metaverse offer limitless opportunities due to the feeling of presence that it provides. Some examples include the Metaverse Summit in Decentraland, 24-hours Metaverse festival in Journee and Ariana Grande's concert in Fortnite. Virtual commerce is also an interesting emerging use case, with platforms like Flipverse in India and the upcoming platforms like TheMall, Agoraverse, and Comearth.
In the industrial metaverse, use cases include training, simulation, and manufacturing. Metaverse training allows learners to make decisions in a virtual world and make mistakes with no real-world impact. Simulation allows organizations to test the impact of decisions and make more accurate predictions. Manufacturing in the metaverse allows for faster product design and creation processes using technologies such as VR headsets and 3D modeling tools. Examples include Boeing manufacturing and Schipol's airport simulation or Simango, the first hospital in the metaverse that offers operational trainings.
With many industries already delving into this revolutionary technology, now is the time to experiment and test. While we can't predict exactly how the metaverse will evolve in the next 5-10 years, one thing is certain: those who start today will have a significant advantage when mass adoption takes place.