Innovation in blockchain, the rise of certain kinds of assets, and what it means for each sector will become the enablers for the industry. For instance, a user might get a 24*7 financial advisor on what to buy and where to invest. A pharma company on the other hand could help its customers visualize the impact of a drug on a person’s heart or how a product would improve the wellness of the consumer by engaging him in a more immersive manner. The possibilities are limitless.
Improvements are happening in the space of devices as well. Compared to five years ago, VR headsets have become lighter and are responding better to motion. Eventually, all the computing happening in headsets today may get enabled on devices that are the size of regular sunglasses in the future.
Learnings from the past twenty-five years about the internet could be put into the design of the metaverse to make it bug-free and for that collaborative effort of various stakeholders including government, industry, and policymakers will be required.
This is not a gold rush, where you have to invest immediately, but the power is to understand the fundamental shift in the technology, gain familiarity with the technology, understand the elements that are relevant for your sector and your company, how it is going to influence the sector, plan strategies for adoption and to explore the opportunities to build adjacent to your core business or new opportunities that emerge along with the technology.