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Top 7 Metaverse Use Case [Real Life]
With the addition of NFT Arts, Metaverse has skyrocketed in popularity. Since Facebook CEO Mark Zuckerberg re-branded his company as Meta in late 2021 to focus on opportunities worth up to $21 trillion, the metaverse concept has gained much attention. With the announcement of Meta, it is on everyone’s mind, even if they’re unaware of the metaverse. Popular Metaverse Platform like Decenterland, Roblox, and SandBox is helping users to become involved in the metaverse blockchain and explore the different opportunities. But people must understand the metaverse in a Better way. People are relating metaverse with Cryptos and NFT. In reality, Metaverse is a boundless technology and concept. It can solve real-world problems. The Techaroha Team has done thorough research on real-life problems for hundreds of hours to figure out how Metaverse can help to solve those problems. Here are the Problems and the MetaVerse Solutions that will change how people interact with Products/Services before they buy them. At the end of the articles, you will be able to relate your industry with Metaverse and may launch your product in that niche. And please note that this article is the research of hundreds of hours. So it’s lengthy but informative. So please be patient and read it in multiple instances. 1. [Apparel /Fashion] MetaVerse For Online Apparel Industry – The Return Problem “Roti Kapda Aur Makan”(A Proverb in Hindi). These are the basic needs of any individual(Means Food, Clothes, and Shelter). Here, we want to signify Apparel as the basic need of any individual. As a result, the Apparel market is enormous. If you look at statista.com, you will understand that the Market size of Apparel is 1.55 Trillion USD. The concept of the metaverse has been inspired by science fiction and is now being developed in various industries, including the apparel industry. In the fashion industry, the metaverse presents new opportunities for retailers and brands to engage with customers in a virtual environment. For example, consumers can try on virtual versions of clothes and accessories in a virtual fitting room or participate in virtual fashion events and experiences. The metaverse also allows the creation of virtual storefronts and showrooms, providing a new platform for e-commerce and reaching a global audience. 1. Problem with the Huge Apparel Industry When we buy Clothes from Physical Stores, we get a golden service, i.e., we can try different clothes. The “Changing Room” we get in physical stores is impossible in the E-commerce industry. Moreover, return rates are almost close to 1 Percent since you try the clothes before buying. Another major problem is socializing while purchasing clothes. We often take our friends with us when we buy clothes. I have a few friends, Aniket, Gautam, and Sagar, I get terrified whenever they ask me to go shopping together and to arrange a schedule to meet at the same time, and we are conflicted about our choices. We need our friends to confirm our choices, so much hassle in a limited time. What if you can give a “Changing Room” or “Trial Room” and socialize the experience to the online customers? Yes, this is possible in the MetaVerse very efficiently. If we can have Changing Room in the MetaVerse, we can solve three challenges: 2. The Solution for the Apparel Industry is MetaVerse. For the solution, you need to understand the essential measurement of the Human Body. When we go to a tailor for custom clothes, he takes a set of measurements and then designs the clothes accordingly. Well, in the Future World, it will take a similar measurement, not for the custom clothes, but for the real-life avatar. In the metaverse, we can create a real-life measuring body as the avatar of the users. Now players log in to the Verse along with their friends as well. And they will see each other in the attire they are in. Inside the MetaVerse, users can browse all the clothes and select the apparel for trial. As soon as the user selects the avatar, he will be fitted with the respective clothes. 3. Technical Challenges for Apparel/Fashion MetaVerse A fashion metaverse is a virtual world where users can shop for and try on virtual clothing and accessories. Several technical challenges arise when building a fashion metaverse: Realistic 3D modeling: Creating realistic 3D models of clothing and accessories can be a challenging task. The models must be detailed and accurate to properly represent real-world objects and individuals. Virtual try-on: Allowing users to try on virtual clothing and accessories in realistically and believably be difficult. The virtual try-on experience must be seamless and intuitive for users. Compatibility with different avatars: The fashion metaverse must be able to accommodate a wide range of avatars, each with its body shapes and sizes. This can be challenging when it comes to fitting virtual clothing onto the avatars. Integration with real-world payment systems: Users must be able to purchase virtual clothing and accessories within the fashion metaverse, which requires integration with real-world payment systems. Networking and latency: A fashion metaverse will likely have many users interacting with each other and with virtual objects in real time. This can lead to networking and latency issues that must be addressed. VR hardware compatibility: If the fashion metaverse is designed for use with virtual reality (VR) headsets, it must be compatible with a variety of VR hardware and devices. 4. Benefits to E-Commerce Companies in the Apparel Industry Virtual World has several benefits for companies in the apparel industry: Optimized inventory management: By integrating virtual storefronts and try-on possibilities, e-commerce businesses may minimize physical inventory while improving inventory management, resulting in cost savings. Wider consumer engagement: By incorporating virtual try-on options and virtual stores into the metaverse, e-commerce enterprises may provide their customers with a more immersive and engaging buying experience. Economical Boom: Due to the metaverse, return rates will reduce, and boost customer engagement, which will help in increasing sales and opening up new revenue streams. New income streams: By providing virtual storefronts
