Seriously though, what does ‘Metaverse’ mean?
Broadly speaking, the technologies that make up the metaverse include virtual reality (characterized by persistent virtual worlds that continue to exist even when you’re not playing) as well as augmented reality that combines aspects of the digital and physical worlds. However, it doesn’t require that those spaces be exclusively accessed via VR or AR. A virtual world, like aspects of Fortnite (online video game) that can be accessed through PCs, game consoles, and even phones could be metaversal.
The metaverse also translates to a digital economy, where users can create, buy and sell goods. Currently, most platforms have virtual identities, avatars, and inventories that are tied to just one platform, but a metaverse will allow you to create a persona that you can take everywhere as easily as you can copy your profile picture from one social network to another.
Social Commerce sales in the U.S. are picking up,
For many years, healthcare delivery entailed the physical interaction between a patient and physician as a means to receive a diagnosis, medical treatment, or operative care. This changed slightly with the advent of telehealth, which delivered the patient-physician relationship through digital means and the internet. But these paradigms are now at the cusp of an even larger, more monumental form of disruption. AR/VR are quickly bringing forth possibilities that were never previously imagined.
Innovators in this space such as MicrosoftMesh, the companies new “Mixed Reality” platform that aims to make digital connections life-like and enable new ways to remotely teach, learn and perform tasks virtually. Famous computer systems & chip designer NVIDIA is also attempting to innovate in this space with its Omniverse platform- “easily extensible, open platform built for virtual collaboration and real-time physically accurate simulation.”
While AR/VR technology hold incredible promise for healthcare, it must also be developed in a way that does not encroach upon or mitigate the sensitive, humanistic, and sacred patient-physician relationship that has long-defined healthcare.
Beauty in the Metaverse: How beauty brands are tapping into this brave new world?
Hot on the heels of fashion, it’s now the beauty industry’s turn to jump into the metaverse. While the pandemic has created a shift in beauty routines, our counterparts in the virtual world can now experiment and treat themselves to the most cutting-edge of beauty routines.
Beauty and video games might not be the most obvious stablemates, but not only is the gaming world shaking off its typical gender and generational stereotypes, but brands have also understood the potential of these parallel worlds to present and promote their products and build bigger and more diverse community. Notable beauty brands taking this hybrid approach and collaborating with gaming and eSports communities include Charlotte Tilbury sponsoring the Girl Gamer Festival in 2021; L’Oreal owned YSL Beaute partnership with streamer Talia Mar for a sponsored stream promoting the Black Opium Fragrance and Estee Lauder’s microsite arcade, where users play arcade-style minigames and learn about the brands Advanced Night Repair serum.
As well as promoting products in the metaverse, brands can also offer non-fungible tokens or NFTs, which are on the rise. Nars, for example, celebrated its hero blush Orgasm by commissioning a collection of 3 NFT artworks by artists Sara Shakeel, Azede Jean-Pierre, and Nina Kraviz. Givenchy Parfums also partnered with artists from Rewind Collective and London gallery owner and LGBTQIA+ activist Amar Sing on an NFT Pride digital artwork. Lastly e.l.f. cosmetics created NFTs that allowed customers to purchase their cult classic products such as the Poreless Putty Primer saturated in gold.
These are only a few of the beauty brands that are early adapters to the new virtual landscape of the future, but more brands are continuing to enter into this new world at great speed.