Onto the next universe
Metaverse technology has taken the business world by storm with virtual fairs and expositions fast transcending offline events, as the pandemic rages around the globe. Chai Hua reports from Shenzhen.
Uncertainty remains
Lam believes a metaverse exhibition is more than just a buzzword, but says it could take several years for industry players, including device manufacturers and content providers, to form an ecosystem.
For consumer groups, it could be the younger generation who will use the metaverse initially. But, the metaverse is a new evolution of social media, so users will not be restricted to the young generation.
Another difficulty, he says, is marketization. "Only when there are enough participants and applications in the market can we talk about revenue."
Pei Lan, vice-president of Shenzhen-based Tiantu Capital, agrees that building up metaexpos is still at a very early stage and, so far, it isn't a must for the display to be very fancy and vivid. It's not even necessary for the application of VR or AR devices, as these technologies are not advanced enough to provide sensational experiences. "The essence of a metaverse exhibition is content and interaction among users," she says.
For example, Gather Town, a 2D, low-resolution online universe, is spreading like wildfire in the United States. More than 10,000 teams have adopted it for their virtual offices and the firm has hosted over 20,000 professional events, including academic conferences, job fairs and professional societies' activities.
One of the most appealing elements of the metaverse for the industry is that it provides a new form of information communication with more immersive experiences and increased information density than words and pictures, videos and live streaming, Pei notes.
She is now looking into firms that focus on providing solutions of virtual upgrades of exhibition industries.
According to Pei, solutions for online shows, automobile exhibitions, art shows and auctions have emerged, and will be available for customers and users within six months.
But she warns that some firms may offer a "fake metaverse" because the industry is still in its infancy without mature standards, and products of high and low quality are quite mixed in the market. So, investors and exhibitors need to stay alert.
