We’ve talked about advancements with virtual reality for eLearning, but that’s just one area where we see the industry grow.
Ultimately, the lesson to be learned is that the internet has completely transformed how we learn, shop, live, and connect. Not surprisingly, the massive digitalization of eCommerce is changing the way retail businesses operate. But, how does this impact education?
Let’s find out more as we discuss the merge of the Metaverse and eCommerce.
What Is the Metaverse?
For starters, it’s essential to understand what we mean when we use the term Metaverse. We’ll begin by breaking down the word to look at its meaning:
“Meta,” meaning “beyond”
“Verse,” meaning “universe”
Simply put, Metaverse means “beyond the universe.” A more accurate definition of the term is a computer-generated place where users can interact with others and the environment through virtual reality.
Building Blocks of the Metaverse
Now that you have a better understanding of what the Metaverse is, it’s time to take a deep dive into some of its core components, including NFTs, XR, and blockchain.
1. Blockchain
Similar to how the real world functions, the events that occur in the Metaverse happen in real-time. Unlike the real world, though, the Metaverse is a decentralized and synchronous virtual world.
Blockchain technology is one of the primary contributing factors to allowing this decentralized, synchronous, and real-time virtual ecosystem to exist. The blocks, or decentralized series of records, are secure logs of all of the events in this virtual world.
Since no one directly governs the Metaverse, it can provide a reliable and secure ecosystem using blocks and decentralization. Using this technology, a single entity cannot alter any of the data involved.
This technology also helps prevent crime in the Metaverse, as it allows users to track virtual assets and ownership through blocks.
We’ve already discussed how blockchain and crypto can disrupt education, but today we move forward into understanding how this technology impacts eCommerce in eLearning.
2. NFTs
The term NFT, or non-fungible token, has gained massive popularity in the last few years. NFTs are maintained via a decentralized blockchain. This technology allows for ownership records of assets to be more accurate than ever.
The blockchain will store NFTs, which will serve as a form of digital assets in the Metaverse. When required, these assets can be reproduced as and when needed.
2. XR
Virtual Reality (VR) and Augmented Reality (AR) are both immersive experiences that fall within the newer spectrum term, Extended Reality (XR). Through advancements with virtual reality for eLearning, the Metaverse can access unchartered territory amongst other XR.
Exciting elements such as 3D surroundings and visuals help bring the Metaverse to the next level by bringing immersive experiences directly in front of our senses.
The Metaverse and eCommerce
The virtual world was something we only saw in sci-fi flicks in the past. Today that has become our new reality. So, it is no surprise that this virtual world is completely transforming how things work, including online businesses and shopping.
Let’s take a closer look at how the metaverse will impact eCommerce from an education standpoint.
1. Customer Interaction
People's interaction with virtual things will experience a massive revolution in the hyper-real alternative virtual world. How customers interact with products and brands from the online business landscape still has space to evolve tremendously in the Metaverse.
The 2D product pages of today will soon be forgotten, as people will be able to interact with others and virtual assets via a 3D virtual storefront in the Metaverse. Since the experience will be nearly the same as in-person shopping, the customer interaction levels with products and brands will inevitably improve.
The customers’ purchase decisions will undoubtedly be significantly influenced by a highly immersive product experience. Through various emerging virtual touchpoints, the pre-sales and post-sales shopping experiences will also be enhanced for consumers.
2. Personalized Shopping
Much like personalized learning and gamification are helpful to eLearning, these factors are equally valuable for a successful business. Customized products are indeed the key to the average consumer’s heart.
Today, we already see countless opportunities that give consumers total control in customizing their products. But, what we’ll see in the future is that the Metaverse will take this to the next level and beyond.
Online businesses will completely change the way they work because consumers will suddenly be able to experience and personalize products in real-time through the Metaverse.
3. Virtual Shopping
Through more immersive product experiences, the virtual world will take the shopping experience to the next level. Customers will be able to have an immersive experience of the product in the virtual world, which will have a place for virtual stores.
Merchants will have the ability to open the same stores across an array of virtual worlds, being digital assets and all. A more immersive shopping experience will emerge for consumers exploring products and experiencing them across dimensions. The line of difference between real shopping and virtual shopping will almost be nullified.
The Metaverse and eLearning eCommerce
The internet of the past was simply a place to go to gather data and other information. Today, though, it has completely transformed. Users can post content, engage, interact, and do countless other things on the internet. As we continue to evolve, we’ll watch as the internet does too.
The Metaverse will undeniably transform eCommerce. The rise of the Metaverse will totally change how people interact online, right from online meetings to organizing events. The virtual world will take over almost everything in the upcoming years.
Final Thoughts
You can see that the Metaverse has opened uncharted territory for eLearning now that you have a better idea of what it is and how it is impacting eCommerce.
Here at ryco.io, we’re excited to stay one step ahead of the trends as we propel forward into the future of eLearning. We can’t wait to see the impacts of the Metaverse on eCommerce when it comes to education and we are eager to become a part of that realm. Stay tuned to see all that ryco.io has in store for the Metaverse!
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