Metaverse

Due to the huge interest and impact of Metaverse, Industrial Metaverse, etc., Rightsourcing is starting a series of short, precise articles to get a deeper understanding.

What does it really mean? Is it just the next buzzword? Does it affect our lives? How does it affect our lives? Will it reshape our work? What do companies need to do? What is the best way to address this?

In our first article in this series, we will try to understand what is Metaverse.

– A contribution by Suchi Shinde & Parag Shinde, January 2023

Figure 1 Metaverse

What is Metaverse?

Metaverse is the next evolution of the internet. The metaverse is where the physical and digital (virtual) worlds come together. This next version of the internet would be a far more immersive virtual experience.

Many of its basic elements, however, like virtual and augmented reality, or cryptocurrency transactions have been under construction for decades. The three basic characteristics of the Metaverse are a sense of immersion in the world of interest (often using Augmented or Virtual Reality), Real-time interactivity – ‘Always on’ and User autonomy.

“One of the most important trends is that the computer has moved from our basement to our desktop to our pocket.  This has happened over the last 50 years. The Industry believes that this ultimately gets closer to the senses – to the eyes, to the hands, to speech. Metaverse is a way of describing the transition into 3- Dimensional environments.” says Chris Cox, Chief Production Officer at Meta at the World Economic Forum.

“The promise of metaverse technology will allow us to meet as holograms of ourselves, feeling that we really are breathing the same air in the virtual room in which we are “says Nick Clegg, the President of Global Affairs, Meta.

Making the internet a virtual twin of the physical world could enable novel ways of working, buying things, learning, socializing, entertaining, and providing healthcare. The concept of virtual mobility has long been used to describe how the internet can provide an accessible alternative to activities that usually require physical mobility.

Metaverse will take many years to build and it will not be owned by any one company. Development of the metaverse will require collaboration across companies, creators, and policymakers. At the Annual Meeting in Davos, the WEF members have committed to recommending economic and governance frameworks for an interoperable, safe, and economically viable metaverse.

One of the good summaries is – The metaverse is the emerging 3-D-enabled digital space that uses Virtual Reality, Augmented Reality, and other advanced internet and semiconductor technology to allow people to have life-like personal and business experiences online.

Metaverse will enable companies to set up digital branches (Virtual Showrooms and Virtual Offices), helping them build brands and credibility with its customers. Companies can highlight their innovations in the metaverse, which will offer hybrid ways to interact with their clients.

Rightsourcing has been engaged with this topic for years and thus understands the needs of the future. Our founder, M. Hesse researched the topic “Artificial Intelligence in Virtual Design Processes” as early as the 1990s. Rightsourcing has developed products and services to help companies achieve their business goals in the metaverse. We have developed several industry-specific 3D virtual showrooms where companies can not only showcase their products and services in 3D and AR, but also show videos, documents, and configurators in addition to one-click video conferencing to resolve urgent questions or consultations. With our integrated AR solution, a customer can see any product (e.g. machine, spare part, etc.) of the supplier in his factory floor, office building, etc. with one click to get a quick and realistic impression of how the product to be purchased would look like in his individual real world.

We urge you to visit our Metaverse offering for a taste of the future at https://rightsourcing-gmbh.com/metaverse-virtual-headquarter

For a regular text-based approach on Metaverse, you can visit https://rightsourcing-gmbh.com/metaverse-industrial

Stay tuned in… in our next article in this series, we will look at how can Metaverse impacts our lives

References:

1. Garaj, V., Dudley, J., Kristensson, P., THE METAVERSE, 5 ways the metaverse could be revolutionary for people with disabilities, WEFForum, September 2, 2022
2. Various, What is the metaverse?, Mckinsey & Company, August 17, 2022,
3. What is the Metaverse Exactly? Two Meta Experts Explain, WEFForum, June 10, 2022 <https://www.weforum.org/videos/the-metaverse-explained> (accessed on 15.12023)