Meta Trends 2023

IDC estimates that about 10 Mn VR headsets were sold in 2022. With shipments expected to jump by 30% this year and every year in the coming 5 years active devices that will help navigate the metaverse will crest the 30 Mn mark by 2026. While the consumer side of VR is expected to grow exponentially in the coming years (Sony sold over 5 Mn VR-enabled Playstation devices) the action is hotting up across other areas too.

Here then is our take on the five key trends to look out for in the VR space in 2023

1) Crypto joins up the metaverse

We are in a crypto winter, however, newer flavours of cryptocurrency could potentially be used as a unifying element in the metaverse. One way that this can happen is if a single flavour of cryptocurrency is used as a medium of exchange across multiple metaverses, allowing users to transfer their wallets and its value seamlessly across world. This would give users a convenient and secure way to transact with one another, and foster greater economic activity within the metaverse. Additionally, cryptocurrency could be used to incentivise certain behaviours or actions across multiple metaverse platforms, potentially uniting these worlds.

Rise of corporate metaverses

A corporate metaverse is a virtual environment that is owned and operated by a company for the purpose of conducting business or training. Much talked about examples in the space are Accenture’s Nth floor or Siemen’s digital twin.? Such virtual worlds allow companies to create immersive, interactive experiences for their employees, customers, and partners and can be accessed using virtual reality (VR) or augmented reality (AR) devices. The use of corporate metaverses is expected to grow in the coming years as more companies look for ways to leverage technology for business purposes. Some experts believe that the rise of corporate metaverses will lead to the creation of new industries and business models, and could potentially transform the way we work and interact with one another.

Fediverse or Distributed Social networks

Another interesting development in recent years is the coming of the Fediverse. These social networks, unlike Facebook and Snapchat, are platforms that are decentralized and distributed across multiple user-supported servers or devices, rather than being centrally hosted on a single website or platform. This can give users more control over their data, as well as potentially making the network more resistant to censorship or other forms of centralized control. Some examples of distributed social networks include Mastodon, Diaspora, and Scuttlebutt.

Metaverse players are building a united front

In an attempt to create a truly interoperable metaverse, some of the world’s leading technology companies have come forward to create the Metaverse Standards Forum, The likes of Adobe, Autodesk, Epic Games, Google Meta, Microsoft, Nvidia and over 1800 other tech companies have joined forces to start the journey to creating a seamless and interoperable experience for all users. One key absentee from the forum is Apple which even though has invested a lot of money in creating AR and VR protocols and is rumoured to be working on an AR device has chosen to stay away. Apple along with others who are yet to join the forum could become part of the group in the future.

The metaverse will promote sustainability

One potential application is the use of virtual environments for education and training. By providing a platform for immersive learning experiences, the metaverse could reduce the need for physical travel, which has a significant carbon footprint. This could be especially useful for fields that require hands-on training, such as the trades, where students can gain experience working with virtual tools and equipment.

Another possibility is the use of virtual reality for remote work. By allowing people to collaborate and communicate in a virtual space, the metaverse could reduce the need for physical commuting and the associated greenhouse gas emissions.

The metaverse could also be used as a platform for creating and testing sustainable technologies and practices in a virtual environment before they are implemented in the physical world. This could be a cost-effective way to identify and address any potential issues before they arise.

Hellenic, one of the largest bottlers in the Coca-Cola ecosystem serves 29 markets across Europe. By working with Microsoft, Hellenic saved over 9% in energy costs in a 12-week period by building out a sensor fabric, creating digital twins, and allowing factory workers to become immersed in the twins. And these are just early days.

The coming of life-like avatars

In recent years, there has been a trend towards creating more realistic and sophisticated avatars, with more detailed and lifelike visual appearances and improved methods of controlling and animating their movements. LensaAI climbed to the top of the download charts at the iOS and Play store with its stunning “magic avatars”. The app itself is riding the AI-generated art trend that took off in 2022. At another level researchers at ETH Zurich have developed new algorithms for creating virtual humans much more easily.

Despite the scepticism and lack of clear use cases, there are meta forces that are shaping the next iteration of the Internet. What will emerge in 2023? New VR worlds? Early iterations of the Metaverse? Something else? Subscribe to our Meta Monday newsletter to learn more.