Austin Rotter Takes a Stance On the Chances of Metaverse as a Service
By Space Coast Daily // October 27, 2022
Metaverse is quickly emerging as a virtual reality platform and has become the next big thing. Austin Rotter, the professional media strategist, has discussed the idea of Metaverse progressing as a service platform.
The concept of the Metaverse is creating a serious buzz in the digital world. It feels like we are reliving the ‘dot com’ era as everyone is intrigued by the idea. Metaverse is looming and quickly becoming the next big thing leaving behind cryptocurrencies and NFTs. Even well-known tech giants like Meta (Facebook), Microsoft, and Shopify are investing in this emerging space.
The notion is rising that all business soon will be done in a 3D visual world. This phenomenon is termed Metaverse-as-a-service or MaaS which is gaining popularity. The renowned media strategist, Austin Rotter has taken a stance on the chances of Metaverse being used as a service.
Future of Metaverse
According to Austin, the idea of an imaginary world has always fascinated us. But now that it’s closer to becoming reality, we are already seeing huge growth in the Metaverse market.
The market revenue of the Metaverse was $47.69 billion in 2020 while by 2024, it is expected to touch $800 billion. That’s quite a jump in less than five years for any market. But what’s even more intriguing is JP Morgan’s bet on the Metaverse that claims it to be a $1 trillion yearly opportunity.
Related: 6 Ways Your Business Can Use the Metaverse in Marketing
Advantages of Metaverse-as-a-Service
The idea behind Metaverse as a business is that it will allow companies of all sizes to provide their customers with immersive experiences at every touchpoint. Even a small business without any technical assets will be able to sell products or services effectively.
Businesses will also be able to hold meetings and display their ideas in a virtual environment. Customers, on the other hand, will be able to socialize, exercise, and play games with appropriate support.
Requirements for Metaverse-as-a-Service
Metaverse is the next step towards Web3 but some requirements have to be met before we move to Metaverse-as-a-service. Firstly, we need to focus on interoperability so that people don’t feel stuck in one community or Metaverse. They should be able to commute or jump between Metaverse using the same avatars.
Second, instead of replacing the physical world, we need to integrate the Metaverse with it. For instance, if a person has an art piece, he should be able to replicate it within the Metaverse. This will offer a truly immersive experience and make trade easier within the Metaverse.
This is where the concept of MaaS comes into play. It will act as a catalyst and fueling the creativity within the virtual universe. With time, MaaS will eventually improve user experience and bridge the gaps between the virtual and physical worlds.
Related: Austin Rotter Weighs in on the Metaverse, Its Growth, and Future – Kivo Daily
Examples of Metaverse-as-a-Service
If you think Metaverse-as-a-Service is an imaginary thing, you couldn’t be more wrong. There are companies and products that are already working to boost the Metaverse experience. Lovelace, a MaaS company, has developed a toolkit to help people communicate and interact within the Metaverse. The company is enabling gamers and developers to operate smart contracts, monetize their assets, and trade in NFTs.
Propel is another example of Metaverse-as-a-Service that is offering plug-and-play infrastructure within the Metaverse. The company is new to the virtual realm and is working on offering end-to-end tech stacks. This will help users who want to develop blockchain-based apps within the Metaverse.
Touchcast by Microsoft is another MaaS service powered by Azure Cloud. It will enable businesses and companies to register domains, establish Metaverse campuses, and build virtual stores.
Final Note
Metaverse is a virtual world that is now ready to become part of reality. Austin Rotter, the acclaimed PR professional believes it’s time for companies to start jumping on the bandwagon. The market is growing and companies have already started developing products and services to entertain the audience.
