Digital identity in the Metaverse will be represented by avatars with utility
Metaverse development is underway, but avatars with built-in utility will be key for digital identity. The Metaverse is poised to become tech’s next trillion-dollar opportunity, as an increasing number of companies are showing interest in immersive virtual spaces that will allow consumers to go beyond what’s possible in real life. This was highlighted in a recent report from CB Insights, which found that the Metaverse will disrupt at least 13 leading industries including fashion, retail, gaming, education and more. While notable, various metaverse environments are still underway. For....
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The metaverse has presented itself as a place where everyone can be themselves. With so many constraints on how people can carry and express themselves in the real world, the metaverse has provided a much-needed escape to a place where there are no rules to self-expression. One metaverse project that has stuck firmly to this freedom of self-expression is the OVER Metaverse. The project has previously provided users the opportunity to customize and dress their avatars how they see fit, but it still remained limited to the range of preset outfits available. However, with its latest....
What financial services mean in the Metaverse: A closer look into the process of monetization in the Metaverse — the categories of business “of” and business “in” models. In a previous article, I discussed the evolution of Web3 economies and current volatility, focusing on the participatory nature of Web3, which is the foundational technology enabling the creator economy. The term “metaverse” — meta and universe — often describes the anticipated future iteration or evolution of the internet powered by Web3 technologies like blockchain and decentralized resource distribution and consumption....
Metaverse users can reinvent themselves with a digital identity built upon avatars and digital assets, but there are challenges to consider. The Metaverse has become one of the biggest buzzwords of the year as a number of brands, companies and even countries begin to explore virtual worlds to conduct business. Even though Metaverse development is still underway, a recent report from the technology research and advisory firm Technavio found that the Metaverse will hit a market share value of $50.37 billion by the year 2026. Another report predicts that the growth of the Metaverse will be....
Metaverse is a term we’re hearing more and more these days, not least since Facebook announced it was changing its name to Meta and transitioning into “a metaverse company.” A concept that refers to immersive virtual environments where users can socialize, play, shop, and even earn, the metaverse could represent the future of many industries, from gaming and e-commerce to social media. The term metaverse is a portmanteau of meta (meaning beyond) and the universe, and intrepid technologists are busy fleshing out just what this burgeoning collective space will look like; and how we will....
The Nvidia Omniverse is launching a series of new tools for creators and developers in digital worlds to make life in the metaverse more realistic. Hardware maker Nvidia is ramping up its efforts to make a stand in the Metaverse. On Tuesday, the company revealed a new set of developer tools focused on metaverse environments, including new AI capabilities, simulations, and other creative assets. Creators utilizing the Omniverse Kit, along with apps such as Nucleus, Audio2Face and Machinima, will be able to access the new upgrades. Nvidia says one primary function of the tools will be to....