The Metaverse Is In Your Pocket
Why the AR Is where the metaverse will be built
The metaverse, a term coined by science fiction author Neal Stephenson, refers to a virtual space where users can interact with each other and digital objects in a simulated environment. Between the rapid advancements in technology, people spending more time online or in virtual worlds than ever before and Zuk betting the farm on a new direction for Facebook, the idea of a metaverse is becoming more tangible. So this post, we will explore why AR is a more practical platform for the metaverse than VR, especially for individual creatives and Web 3 SMEs.
It's an exciting space with companies like Yuga Labs and Oncyber building metaverses from the ground up and established game engines like Unreal Engine and Unity positioning themselves as the backbone of gaming and metaverse development. Not to mention non-web 3 games like VR Chat or Fortnite, that have dabbled in or have the potential to evolve into virtual worlds and metaverses. But when most people think of the Metaverse what they typically envision is a totally immersive 3D world or game. Typically one in which you sit down, don some headset or otherworldly suit and are taken out of your current environment into an entirely virtual reality (VR).
And while companies with valuations in the billions make progress on building the metaverse (be it AR or VR), it's important for individual creatives and small teams to efficiently use their time and capital now. All whilst preparing themselves with skills and positioning their brands for the future. To that end, AR is much more pragmatic and underutilized.
AR Metaverses Will Be More Accessible Than VR Metaverses
Today there are just 171 million VR users worldwide, whilst there are 6.92 billion people who own smartphones (82% of the world's population) with 3.1 billion of them being AR-enabled devices. And this makes sense, the use cases for a smartphone far outweigh those for VR headsets. Phones have replaced watches, maps, the Yellow Pages etc. They provide social connection through social media and dating apps, as well as economic opportunity through internet access and apps. Anything you need in your life can be enhanced by your mobile phone, and for many, their lives are lived in their phones.
VR headsets can do many of the same things but they are bulky, expensive and lack development support, which is why AR glasses are much better positioned to replace the mobile phone. VR headsets for the most part are good for keeping at home for either gaming or commercial use cases like VR meetings, design, engineering etc. But again these are additional purchases for users who already have mobile devices. For gaming, the user needs to buy the devices, games, and perhaps even subscriptions to play online. And for commercial use cases, an employer may need to justify spending thousands per unit for headsets tailored to their needs.
Both AR and VR metaverses will be built and both will likely see success, but AR is and will remain the most accessible and therefore most used gateway to digital worlds.
AR Glasses Will Further Facilitate Adoption And Growth
In 2021, AR generated $4.2 billion in revenue, surpassing VR's revenue of $3.5 billion, highlighting AR as a more significant opportunity for innovation (according to Business Insider). This is before we even talk about AR glasses. Companies like Ray-Ban, Apple and Microsoft are gearing up to release smart glasses. And for good reason, once we have the portability and practicality of a smartphone with the convenience of not needing to hold it up constantly, adding data seamlessly into our real world and virtually infinite display size for whatever we want to view, smartphones will likely go the way of the Nokia.
Real-World Applications
In addition to its accessibility, AR also has a wide range of potential real-world applications, such as in education, tourism, and e-commerce. For example, AR can be used to enhance the learning experience by overlaying digital information onto physical objects in a classroom setting. It can also be used in tourism to provide information about historical sites or landmarks. Additionally, it can be used in e-commerce to provide virtual try-ons of clothing or makeup. The potential of AR to enhance and augment the real-world experience makes it a more practical platform for the metaverse.
Practical Development
From a development perspective, AR is a more practical platform to build in because it does not require the development of entire worlds, environments, character animations and more. AR can be used to enhance and augment existing environments and can be as simple as one interactive object like a basketball, making it more efficient to create. Furthermore, AR can plug into social networks with billions of users making it a useful tool to reach consumers before the metaverse becomes mainstream.
AR Works Better With The Human Machine
Virtual reality cuts people off from their environment. It needs to overcome six million years of evolution that formed humans' natural ability to be aware of their position in space in relation to their bodies and what they see. And no matter how good a VR headset becomes, our brains will always know we're sitting in a chair somewhere. AR, however, allows you to interact with both the virtual and physical worlds simultaneously, working with your natural sense of space, making the experience feel more natural and intuitive.
Taking Your Next Step In Building The Metaverse
AR is a more practical and accessible platform for the metaverse than VR. With the majority of people already owning a smartphone, the potential user base for AR is significantly larger than that of VR. Additionally, AR has a wide range of real-world applications and the potential for interoperable assets and NFT projects. As technology continues to advance, the potential for AR as a metaverse platform will only continue to grow.
It's an area that is underutilized by web 3 projects and there are billions of potential users with these capabilities in their pockets today, who will be the addressable market for the future digital economy.
