Metaverse As A Service Platform Development: The Future Of Technology

The term "metaverse" has recently gained popularity, and industry leaders are leveraging it. The biggest query right now is, "What is the metaverse?" Why did it suddenly become popular? Is it an unrestricted digital twin of the cosmos? Alternatively, is it a catch-all term for Mixed Reality (MR), Virtual Reality (VR), and Augmented Reality (AR)? Most importantly, how are industries being reinvented, and how are businesses changing? Let's talk about it!

Imagine yourself in a virtual environment where you can interact with people, conduct business, and collaborate from your comfort space. We refer to this as the metaverse. Since Facebook changed its name to Meta, the idea has gained popularity as a hot topic of conversation. It allows brands to have an immersive connection with their target audience and their partners, vendors, and employees.

Vital Metaverse Statistics And Facts

• The prefix "meta" (beyond) and the stem "verse" (universe) make up the phrase "metaverse." Thus, "Metaverse" literally means "beyond the Universe."
• The Metaverse market is expected to increase from $47.69 billion in 2020 to $800 billion by 2024. This is an increase compared to the $47 billion projected for 2020.
• In 1992's "Snow Crash," a science fiction book, the phrase "metaverse" was first used.
• Recently, Meta pledged $50 million to non-profit financing institutions to support the metaverse's responsible expansion.
• According to JP Morgan, the market value of the Metaverse will be $1 trillion.
• Several significant tech companies see the metaverse as a once-in-a-lifetime chance to expand their reach.

Metaverse As A Service Platform Development: What Is It?

Instead of buying a lifetime license, "metaverse as a service" describes a subscription-based model for using metaverse platforms. Businesses are now using an "as-a-service" model to deploy the metaverse. Without knowing how to code, brands and industries can customize their features and functionalities to their target audiences using metaverse-as-a-service.

Simply put, "as-a-service" refers to the delivery of technology products and solutions via cloud-based services. Instead of setting up their expensive in-house database storage servers, companies use the pay-as-you-go services offered by third-party service providers like Google, Microsoft, or AWS.

Metaverse as a Service Solutions Use Cases

Business Office

Dealing with clients via video calls can occasionally lead to a communication breakdown. Setting up a conference room or meeting in the metaverse may be the answer. You can virtually join your clients in a meeting with AR and VR with the metaverse platform. You and your client will save a lot of time by not having to travel far to meet in person.

Social Media

The metaverse has expanded social media. It produces engaging, personalized user experiences. The social media mainstays of collaboration, business, live events, and immersive virtual and augmented reality experiences will all be combined in the metaverse. Metaverse social media networks enable users to produce more content while giving full data ownership to the platform's operating companies.

Event Platform

One of the best additions to the metaverse as a service platform is the metaverse event platform. It will be the location where you can let different parties plan events. The occasions include weddings, concerts, seminars, art exhibits, etc. Many users use cutting-edge technology to express their love with the concept of a metaverse wedding platform.

Also Read: Metaverse Event Platform Development

Gaming

The gaming industry has always been a venture that has thrilled people everywhere. However, the 2D gaming sector was only missing one thing: the ability to generate revenue. However, users of the metaverse gaming platform can also profit from their investments and gaming activities. The benefit of earning money in both directions is attracting a sizable user base.

Education

Utilizing technology to learn, focusing on using VR and the Metaverse to deepen and diversify education through shared and immersive experiences. Technology will engage students in novel and creative ways by enabling them to participate in virtual classrooms with students worldwide in real-time.

Hospital

One such industry that produces significant market revenue is the healthcare sector. The healthcare industry adopts new technology more gradually. This industry, in particular, must constantly look to add new technology to address every illness and medical problem as soon as possible. Only a few healthcare industries have begun to apply metaverse technology to serve patients better worldwide.

Storefront

The online metaverse has digital representations of people, places, and things. The ability to create, use, purchase, and sell digital assets like avatars, real estate, objects, and buildings enables human interaction. Virtual reality makes it much richer and more immersive to do this. By turning the in-store experience into a virtual one, brands can interact with their customers more directly and personally.

Read more: How to open a fashion store in the metaverse?

Who Is Funding The Provision Of MaaS?

Metaverse platforms can revolutionize how, when, and where businesses connect with their customers as extended reality platforms enable businesses to offer novel experiences and distribute information inventively. The 3D capabilities of Metaverse will give creators and visual designers new opportunities to create immersive art experiences, relieving them of the need to look for exhibition and art gallery opportunities.

• Recently, Rent-A-Meta, a multi-utility space offering MaaS, was established by Jupiter Meta, a Web 3.0 advisory and Metaverse. This MaaS will act as a Web 3.0 advisor and integrated solutions architect to help businesses start their Metaverse journey.
• Cryptocurrency and NFT platform Lovelace in October 2021, announced a MaaS product. The company already operates its LACE cryptocurrency token and plans to offer MaaS services to hasten the uptake of Metaverse.
• Propel declared it would offer MaaS solutions for smart contracts, NFT utilities, and decentralized finance (DeFi). End-to-end technical stacks for building apps based on well-known blockchain protocols, including Ethereum, Polkadot, and Binance Smart Chain, will be available (BSC).
• The MaaS product MCity, powered by NVIDIA AI, Epic Games' Unreal Engine, Microsoft's Azure, and Accenture's services, was introduced by Touchcast at the Consumer Electronics Show (CES) 2022. MCity is currently in beta testing. Businesses can register for a "Metaverse" domain, which offers a secure virtual reality setting for setting up Metaverse campuses.
• MetaverseBooks, a MaaS company, offers tools for managing decentralized applications (dApps), NFTs, and creating VR worlds. Businesses can use the solution to improve their visibility on iOS, Android, the XBOX Metaverse, and VR environments powered by Unity.

These were some of the best-known platforms utilizing the metaverse as a service solution. Best Web3 Development facilitates you with the WaaS and MaaS development tools to grow your business and give your vision a reality. We provide comprehensive metaverse technological support to provide our clients with secure future leadership.

Perks Of Metaverse As A Service Platform Development

Customizability

Users of MaaS platforms will be able to customize their platform based on a fundamental framework developed by technical experts and subject-matter experts in accordance with branding and strategy. Depending on the sector and degree of user participation each metaverse tries to activate, requirements may vary. As a result, the branding throughout the metaverse will need to adapt to the needs.

Interoperability

Interoperability, which prevents Metaverse from becoming a virtual island, enables exchanging information and goods between metaverses. Each element of a Web 3.0-powered solution, whether a token, an avatar, an NFT, or other digital assets, must be developed with interoperability in mind. Therefore, if architecture is designed with interoperability, the metaverse will become open, interconnected, and accessible.

Experiential Immersion

The benefit of the metaverse is that it increases the immersion of whatever you're doing. Everything is seen in the most attractive light, opening up more opportunities on the personal and professional levels. Exercise, social interaction, fun, gaming, and business transactions can all be done virtually.

Why Choose Best Web3 Development?

It is more of an evolution than a revolution that Web3, a decentralized or blockchain-based technology, is being adopted in all the metaverse sectors. Many industries already use this technology, which gives them new opportunities for global corporate expansion. The best tool for preparing organizations for current issues is this one. If you're looking for a dependable metaverse as a service solution for your project, contact the Best Web3 Development experts.

With our specialized software solutions, Best Web3 Development professionals support businesses across numerous industries. Here are some justifications for choosing us to grow your business.

• Unsurpassed Metaverse Talent
• Affordable rates
• Affordable & Secure Solutions
• Experienced & Qualified Staff
• Transparent Pricing
• 24/7 Customer Service

Start transforming your metaverse business right away with Best Web3 Development. Contact our specialists to learn how to use metaverse as a service process and offer your clients unmatched services.

FAQs

How much does creating a metaverse as a service platform cost?

Your ideal use cases and the solutions or services you want to target will determine this. To help you get the most out of your budgets, Best Web3 Development collaborates with your teams to individually tailor our services to meet your unique needs. Still, contact our experts to learn the precise cost estimate for your MaaS project.

How long does it take to create a platform for the Metaverse?

Building a Metaverse platform can take a few weeks or several months, depending on your technical expertise on staff and the tools you use. We can help with that by streamlining the procedure and accelerating your move into the metaverse with our quick-start solutions.

What advantages does Metaverse-as-a-Service offer businesses?

Most businesses are interested in the new domain of the metaverse, and industry leaders are creating new opportunities. Remote work, gaming, business collaboration, and even innovation are about to experience a tidal wave. By implementing MaaS, you can assist clients in catching this wave and securing long-term dominance in their fields. New revenue streams (from in-game purchases, exposure to cryptocurrencies, etc.), streamlined work-from-anywhere functionality, customer base growth, cross-platform and cross-enterprise collaboration/integration, and more are some of the top advantages.