The trend
While it was initially perceived as "gaming nonsense" or "Zuckerberg madness", we are increasingly noticing more and more how strongly the metaverse accompanies our everyday lives and the first (also medium-sized) companies are jumping on the trend. In the metaverse, real and digital worlds can merge real and digital worlds can merge to create a shared space. It is the next evolution of Internet browsing.
In the Metaverse, a new universe is created based on 3-D modeling, augmented reality and virtual reality.This creates a space where virtual goods such as houses, products, land, and even avatars can be created and traded. This new understanding of "space" will change our world, and we must decide how to approach this trend and how it will impact our businesses in the new age.
It's not about slaying fire-breathing dragons or swinging through the jungle like Tarzan - it's about overcoming physical limitations and spending time with like-minded people in a virtual space. The pandemic has made us realize how much we crave it.
Things get exciting when you want to go to the movies with your friends - Netflix, DAZN or Spotify already make it possible to share the experience despite physical separation. Architects can design experiences and make them tangible with products that would otherwise only be imagined in a furniture store.
One thing is for sure, the future will be exciting, exhilarating, and here and there, uncertain. But some of the themes upon which the Metaverse is built are not as new as they seem to us now. Therefore companies to think abouthow their products and brands will be represented and marketed in the next era of development is only a logical next step in our increasingly digital age.But it is also clear that this change will also raise ethical questions about the players and their behavior - although with the rapid development of the Internet, this has also been an issue before.
The challenge
We have a time ahead of us to learn a lot, to experiment a lot, to question a lot. We have to try out and explore where the limits of what is possible are.And we must do one thing above all: Put users and their experiences at the center.Products and services can be as strong as they are, but only unique experiences will make this world interesting and attractive even to people outside of gaming, music, and cryptocurrency.
Industrial companies and manufacturers can also make their products more tangible here. However, since the metaverse is based on 3-D models, among other things, which must be rendered, data is needed. Data that virtually duplicates the physical product-a digital twin, if you will, that digitally models and implements physical products. Today, companies are still trying to follow the trends, for example, making product data available in platforms, highlighting their USPs and opening up new sales markets, but the next trend is already around the corner. The metaverse has gained more and more traction in the pandemic, but we have seen that such circumstances can also be accelerators, not least with the issue of mandatory home offices. Driving to the office for Zoom or Teams meetings? Soon no one will accept it.
Opportunities
The topic of virtual reality is not as far away as we think. Augmented reality and virtual reality are already firmly anchored in the booths at Germany's major trade shows. Kitchen and bath builders, for example, can make their products more tangible and imaginable - even for the end customer.
Imagine being able to experience and configure your new kitchen right in your own home. Of course, annoying color samples or other samples can still add to the haptic experience of surfaces, but consulting and configuration can be done in the metaverse with a virtual appointment - right in your home.
To achieve this, systems, data and processes must be in harmony. Clean product data must be accessible through simple interfaces so that the rendered 3D models can be made available in the design environment. The digital twin plays a major role here.
Solutions/Task
But for that to be possible, a lot still needs to happen. Product and customer data must be completely digitized, available live and, above all, correct.Reactionism in German industry has repeatedly led to isolated solutions in recent years. First with the "tedious" creation of print catalogs, then with the "quick" filling of websites and stores, which are often already handled by agencies. Manufacturers should stay true to their strengths and not start hiring augmented reality developers tomorrow. In addition, knowledge and data should always remain within the company, otherwise the company's outstanding engineering performance and world-leading product portfolio will soon become secondary.
Look at your product in the metaverse, ask yourself questions about how it will really be bought, how it can be experienced, and how you can make your brand stand out from the crowd.The Metaverse will not be just another channel, but an entirely new place!
To counteract this trend, certain issues must already be in the background. Processes and data must be aligned to meet the new requirements. Organizations need a structureto follow this speed of development.
As Xtentio, we have been involved in orchestrating the digital backbone for companies and generating digital value together for more than 10 years. Only with clean data, integrated processes and state-of-the-art systems will companies be able to meet these megatrends. The key is to recognize that interdisciplinary teams will always have a superior role. No IT department, sales team, or marketing organization can provide this foundation on its own.
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