Written by Sriram PH
Metaverse is a term used to describe the highly immersive 3D virtual world experience achieved by using a combination of technologies such as: artificial intelligenceAI (Augmented Reality), AR (Augmented Reality), VR (Virtual Reality), MR (Mixed Reality). Opportunities exist for leading brands across sectors such as retail, banking, automotive, fashion and home. Lifestyle To take advantage of new revenue streams.
Rise of the Metaverse
The concept of a metaverse is not new, but recent advances in technology have brought it closer to reality. It’s a vast, interconnected digital space where users can immerse themselves in experiences ranging from games to virtual work environments to social interactions. As the metaverse continues to grow, the importance of secure and versatile virtual identities becomes paramount.
Role of 3D avatar
3D avatars have long been a staple of the gaming industry, allowing players to customize their in-game personas. However, the possibilities go far beyond gaming. A 3D avatar acts as a digital representation of the user within the Metaverse. These highly realistic 3D avatars can also be used as virtual assistants, replicating brand salespeople in today’s business-customer interactions. They serve as a bridge between the physical and virtual worlds, allowing individuals to participate in digital platforms with a sense of presence and identity.
The avatar economy is emerging as a key component of the metaverse ecosystem. Users can buy, sell, and trade his 3D avatars, clothing, and accessories, creating a thriving marketplace. According to recent data, the Avatar market size and growth are:
- The global digital avatar market was valued at USD 14.34 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 47.1% from 2023 to 2030.
- The global market for digital human avatars is expected to reach USD 527.58 billion in 2030, registering a revenue CAGR of 46.4% during that time.
Use cases and deployment
The integration of 3D avatars and blockchain technology is already gaining traction in various industries.
- game: Game companies like Unity and Ubisoft are using blockchain to secure in-game assets and allow players to exchange avatars and items between different games.
- virtual real estate: The Metaverse allows users to own virtual land and real estate. Blockchain technology ensures transparency of ownership records.
- education and work: Virtual classrooms and offices leverage 3D avatars for life-like interactions while protecting identities and credentials with blockchain.
- entertainment and social media: 3D avatars and blockchain technology are transforming the way people express themselves and connect with others online. Platforms like Decentraland, CryptoVoxels, and Somnium Space allow users to create and customize their avatars, explore virtual worlds, and interact with other users.
- healthcare and wellness: 3D avatars and blockchain technology are improving the quality and accessibility of medical services. A patient can interact remotely with doctors, therapists, and coaches using her 3D avatar, and blockchain ensures data privacy and security. Blockchain also allows patients to access their medical records, share them with authorized parties, and monetize their health data.
- art and fashion: 3D avatars and blockchain technology enable new forms of artistic expression and creativity. An artist can use her 3D avatar to create digital artwork, animations, and performances that can be sold as non-fungible tokens (NFTs) on the blockchain platform. A fashion designer can use her 3D avatar to showcase her collection, collaborate with other designers, and offer personalized clothing options to her customers.
Benefits of blockchain integration for 3D avatars
By leveraging blockchain technology, 3D avatars will become more decentralized, autonomous, and interoperable within the metaverse. Some of the benefits of blockchain integration for 3D avatars are:
- possession: Users can store their avatars and data on the blockchain, giving them full ownership and control. Users can also use NFTs to prove the authenticity and origin of their avatars, proving their uniqueness and originality.
- interoperability: Users can rely on common standards and protocols supported by blockchain, allowing them to use their avatars across different platforms and applications in the metaverse. Users can also transfer their avatars and attributes between different environments without losing their identity or value.
- customization: Users can choose from a variety of options and features available on the blockchain, allowing them to customize their avatars according to their preferences and needs. Users can also create their own avatar using 3D modeling tools and mint it as his NFT on the blockchain.
- Monetization: Users can earn money by selling or renting their avatars to other users and by participating in various activities and events within the Metaverse. Users can also earn rewards and incentives by using their avatars and contributing to the development of the Metaverse.
The integration of 3D avatars into the Metaverse and digital platforms is revolutionizing the way we interact and interact online. These lifelike representations of users enable more immersive and personalized experiences, blurring the lines between the physical and digital worlds. 3D avatars enhance engagement and self-expression, facilitating a new era of interconnectedness in the digital realm.
The author is co-founder and CEO of DaveAI.