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What’s that smell? Did you feel it? These phrases would become normal in the metaverse, especially when companies are contributing to its development. Virtual reality devices are gaining attention because of the huge potential of metaverse in different industries. Meta revealed their latest headgear in October 2022 but failed to woo people, mainly due to its high costs. Recently, during the Consumer Electronics Show (CES) many tech giants like HTC revealed their VR products to the attendees.
Feel the Metaverse, literally
The latest VR products appear to be more advanced than the Meta Quest Pro. The headsets include more advanced sensor technology which allows the user to feel things and even smell them in a digital world. A headgear unveiled by a Vermont-based firm included eight cartridges integrated to provide fragrances via combination of different scents.
This may sound amazing but experts believe that VR technology is unaffordable to many. The cost factor may cause the demand for these gadgets to plunge significantly. Yet, companies like Apple, Meta, Microsoft and more are seeking to offer users amazing experiences in the form of metaverse.
People believe that metaverse will transit the majority of activities from physical to digital. Citi Bank, an American multinational bank, forecasts that Metaverse can grow to become $8 Trillion to $13 Trillion by 2030. Many are still confused with its definition, as there’s no official one in the market.
Even though people are skeptical about the concept, some of the biggest companies have already been exploring this arena for a while now. In December 2021, Adidas launched “Into The Metaverse” NFT collection. Users were provided with virtual wearables for their avatars in The Sandbox, a P2E game. In the same month, their rivals, Nike, took over RTFKT, a virtual sneaker creator. Moreover, they revealed Nikeland on Roblox, having 29.2 Million user visits to this date.
In September 2022, retail giant Walmart launched a couple of experiences on Roblox, Walmart’s Universe of Play and Walmart Land. Gucci, the high end luxury fashion brand revealed the Gucci Garden experience on the platform last year. Metaverse might be in its infancy but the titans walking these grounds already see the potential this virtual realm holds.
Crypto sector witnessed a lot of currencies going downwards in 2022 but the data shows that metaverse tokens remained unaffected. This points out that the users were actively involved in such ecosystems during crypto winter. With technological advancements rolling out frequently in this ever-evolving world, the metaverse dream does appear achievable in near future.
Anurag is working as a fundamental writer for The Coin Republic since 2021. He likes to exercise his curious muscles and research deep into a topic. Though he covers various aspects of the crypto industry, he is quite passionate about the Web3, NFTs, Gaming, and Metaverse, and envisions them as the future of the (digital) economy. A reader & writer at heart, he calls himself an “average guitar player” and a fun footballer.
