In October 2021, Facebook changed its name to Meta and overnight metaverse became a buzzword. As a result, the Metaverse market that was worth $46 million in 2020 is expected to reach a market size of $800 billion by 2024. But the market would receive a real push only when metaverse app development services deliver more immersive experiences and for that, the metaverse apps need to integrate the 4 most cutting-edge technologies.
Technology #1 – Enhanced Reality
The success of a metaverse app is defined by the scale of immersive experience it will deliver to its users. And that is why metaverse application development companies are focusing more on enhanced reality using mixed reality (MR) and extended reality (XR). Mixed reality is an enhanced form of augmented reality that bridges the existing gap between the real world and the digital elements of the metaverse app. Using advanced imaging and sensing technologies, mixed reality allows users to interact with items in both the physical and virtual worlds. Mixed reality uses occlusion to bring real-world experience to the virtual world.
Technology #2 NFT
Non-fungible tokens (NFTs) allow the real-world items to be tokenized in a virtual metaverse environment. For example, any kind of game item like a football or a player’s digital avatars. These kinds of items can be converted into NFTs for trustless identification and transfer of ownership in a metaverse. This is powered by a blockchain like Ethereum, Binance, Polygon or more. NFTs are very important to enable the monetization of the metaverse app. Thus, it is very important to carefully plan out the following aspects during metaverse app development:
- Choose the right blockchain so that the NFT transactions do not face high gas fees issues or transactional delays in the future.
- NFT marketplace should be built in the metaverse app or the app should be directly integrated with an NFT marketplace like Opensea where users can trade their NFTs.
- The users should be able to showcase their NFT collection somewhere in the metaverse app that can be made public based on the choice of the user.
- The app must provide users NFT minting support too.
All in all, the metaverse app must support a complete NFT ecosystem for the user.
Technology #3 Artificial Intelligence
One of the most important technologies that will define the success of a metaverse app is artificial intelligence, which enables the app to mimic human-like behavior. We have seen smart assistants like Siri making it so easy for users to use various kinds of apps.
Within the metaverse app, AI can be utilized for interaction with non-player characters (NPCs). The AI needs to become advanced enough to enable the placement of NPCs across 3D spaces in an intelligent manner. This will enable lifelike conversations between different virtual worlds and between virtual and real worlds. Additionally, AI engines are required to generate human avatars in both 2D and 3D forms to look more realistic. AI technology has endless uses in the metaverse app, as the market grows, we will see more AI advancements.
Technology #4 5G
Speed is the key to the immersive experience we have been talking about. With 5G mobile communication about to become popular, the app must be designed in a way that it supports the 5G network for faster interactions with the users because it will be able to provide an upload and download speed of 10GB/s.
What are the features of a Metaverse?
- Decentralized ecosystem
The metaverse can never be under the control of a single entity like the usual apps. That is why it needs blockchain to support trustless network operations.
- Seamless Interaction
The metaverse users should be able to interact with other users and other virtual spaces in a very physical world way.
- Creator Economy
One of the most important highlights of metaverse application development is to make the experiences monetizable for every user. This is a determining factor for the success of a metaverse app. NFT marketplace, different forms or NFTs, NFT trading fees, minting fees and all are very critical for the creator economy.
Wrapping it up
Metaverse apps are being explored by a variety of users for different purposes. Some aim to use it as a product or service, some wish to explore it as a place and others as a moment of experience. Thus, a single app should be able to deliver the best experience to every kind of users.
If you envision creating such an impressive metaverse application, Antier Solutions can help. We provide customized and comprehensive services for metaverse application development, enabling businesses to tap into this growing space.
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