What is the metaverse? How will we experience it? What might the future look like?
A practical guide to how immersive internet technologies are paving the way for new business models
Welcome to the metaverse
Metaverse 101
At the highest level, the metaverse is a network of 3D virtual worlds focused on immersive experiences, digital economies, and social connections. However, there is still no single and aligned upon view of the metaverse.
The metaverse is not a replacement of the physical world, rather it will bring the virtual and physical worlds together in new ways.
The metaverse has graduated from tech to (lucrative) toy on its path to enterprise tool and will provide many benefits for people, enterprises and governments.
Clarifying the concept
The lack of a standard definition and understanding of the concept can be confusing. The metaverse is not a single technology. It leverages a collection of capabilities, including:
- Virtual / augmented reality
- Blockchain
- Web3
- Video games / virtual platforms
- Digital twins
- Internet of Things (IoT)
Given how elusive the concept still is, in order to turn the metaverse from toy to enterprise tool, business leaders should start with strategy.
Although the metaverse as a concept has been around for decades, technological advancements are only now reaching a point where some of these ideas and experiences can be explored. As foundational and enabling technologies continue to improve and the market continues to evolve and scale, all indicators suggest the metaverse will be a trillion-dollar disruptor affecting every industry sooner than we might imagine.
How to get started
Envision
Explore and experience the metaverse for yourself to better understand its potential. Set a vision for the future and make a commitment to experimenting with and investing in new experiences for customers and/or employees.
Define
Identify priority use cases to start experimenting with leveraging Deloitte’s Metaverse Activation Framework, which helps organizations identify the right experiences to invest in. Define the ideal-state customer experience, and understand the capabilities needed to bring that experience to life.
Build
Invest in building metaverse-enabling capabilities such as data and analytics, cybersecurity, cloud-based architecture, and modern connectivity protocols. These capabilities are fundamental to the metaverse but are also an essential part of modernizing organizational tech capabilities and are ”no regrets.”
Read our full guide Welcome to the metaverse which explores:
• Metaverse 101
• The metaverse ecosystem
• The future of metaverse
• Key considerations
The future of the metaverse: Scenarios and industry use cases
Explore ways the metaverse will impact businesses and questions to consider
Explore more insights on the Metaverse
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