Metaverse – a new realm of infinite and promising possibilities, creativity, and innovations is emerging in front of us.
Little did we know this sci-fi concept would pervade the real world and end up gaining traction by the minute from companies including JP Morgan, Microsoft, Google, Hyundai, Nike, Meta, and other investors in the industries. Metaverse is likely to affect every sector in the coming years, with the global market size expected to be . It stands to impact all facets of transportation and mobility, including urban transportation, employee transportation, event transportation, EV, logistics, supply chain, public transit, and .
Transport and urban planners, mobility leaders, city officials, supply chain specialists, and investors must know and explore the emerging Metaverse technologies to facilitate acceptance as well as implementation.
With all that in mind, first, let us understand the concept of Metaverse in detail, and then, we will deep dive into Metaverse-powered future mobility.
What is the Metaverse Concept?
Metaverse is an immersive virtual space and integrated 3D version of the internet. It is the convergence of interoperable technologies, such as AI/ML, AR/VR, Web 3.0, haptic technology, , Blockchain, and .
It enables humans to create and control their own characters/programmable avatars to live in a virtual world and replicate key aspects of the physical world using smart devices while seamlessly collaborating the virtual world with the physical one.
Metaverse has its own digital native economy, known as Metanomy, which has digital assets, trades, and digital currencies. Much has been written about the concept, including how to access the Metaverse and how it is going to change our lives. The Metaverse is an amazing concept that simplifies life and processes.
Here are some examples of Metaverse –
AR/VR powered education providing experiential learning like Novartis Virtual events with immersive experiences, like Ariana Grande’s 2021 concert Hyundai Mobility Adventure & virtual Motorstudio JP Morgan Onyx Lounge for the exchange of digital assets and data Mark Zuckerburg’s Meta enabling people to socialize and work in the Metaverse