Metaverse as a Service - Empowering Organizations For The Next-Level Digital Transformation

Metaverse as a Service - Empowering Organizations For The Next-Level Digital Transformation

Interested in learning more about Metaverse as a Service? Then we've made a blog just for you!

Don't take our word for it; see for yourself. Read on to learn about some intriguing facts and figures, as well as the benefits of MaaS and some examples.

Metaverse - An Overview

The Metaverse is a network of interconnected 3D virtual worlds that allow users to participate in a social economy that is based on real-life scenarios. You can buy and sell products, earn money, make friends, build brands, and collaborate with your coworkers on the spatial communications platform.

The metaverse is envisioned as a decentralized space powered by blockchain technology and managed by no single entity. To put it another way, it tries to reproduce the democratic nature of the real world in a digital setting.

In his 1992 novel Snow Crash, author Neal Stephenson invented the term Metaverse. It rose to prominence in the technology industry with the advent of multiplayer world-building games like Second Life, Minecraft, and Roblox.

How Metaverse Is In The Future? - Some Important Stats And Facts

  • The term "metaverse" is made up of the prefix "meta" (beyond) and the stem "verse" (universe). Hence, the word "Metaverse" means "beyond the Universe."
  • By 2024, the market for Metaverse is predicted to have grown from $47.69 billion in 2020 to $800 billion. This represents an increase from the $47 billion forecasts for 2020.
  • The term "metaverse" was originally used in a science fiction novel named "Snow Crash" in 1992.
  • Meta recently committed $50 million in non-profit financing organizations to aid in the responsible growth of the metaverse.
  • According to JP Morgan, the Metaverse will have a market cap of $1 trillion in the future.
  • Several major tech firms regard the metaverse as a once-in-a-lifetime opportunity to increase their reach.

What Is MaaS?

MaaS is an abbreviation of Metaverse as a Service. MaaS is a business solution that allows companies to establish and strengthen their presence in a 3D virtual world for collaboration, business operations, investments, cryptocurrency, and other related use cases.

Importantly, MaaS will not assist businesses in creating their own Metaverse analogs to compete with Decentraland or Roblox but rather will allow businesses to benefit from current Metaverse infrastructure, just like SaaS does.

Advantages of Metaverse-as-a-Service

Metaverse solutions can be developed by companies with little or no digital experience. Small and medium-sized firms can engage in the Metaverse economy without incurring significant capital costs. Lemme showcase some of the benefits of Metaverse as a service.

Immersive experience

The metaverse has the advantage of immersing you further in whatever activity you're performing. Everything is experienced in the most engaging manner possible, allowing for greater personal and business options. In a virtual environment, you can exercise, socialize, play games, and have business meetings.

It stimulates investment in a technology that is still in its early stages. Most platforms are currently limited to specific user scenarios, and alternatives such as Meta's Horizons suite of apps or Microsoft Mesh have yet to gain traction. In this scenario, MaaS helps businesses to invest and profit from technology with minimal risk. 

Examples of Metaverse as a Service

Lovelace World Lovelace, a cryptocurrency and NFT platform, announced a MaaS solution in October 2021. The company already has a cryptocurrency token, LACE, and wants to provide MaaS services to assist individuals in embracing the Metaverse.

To compete in these domains, the company will help organizations evaluate and reimagine their virtual reality product and service capabilities.

It offers a MaaS toolkit that enables developers and users to create and trade NFTs, operate smart contracts, monetize virtual reality gaming, and interact with other metaverse platforms, among other things.

MaaS Should Be a Propel

Propel is a blockchain solutions platform that offers plug-and-play Metaverse infrastructure. According to Propel, MaaS solutions for smart contracts, NFT utilities, and decentralized finance will be available. The business is new. So, full details have yet to be released (DeFi).

It will offer end-to-end tech stacks for developing blockchain-based apps like Ethereum, Polkadot, and Binance Smart Chain to businesses (BSC). The company is using an Initial Hot Cross Offering (IHO), which works similarly to Initial Currency Offerings, to raise funding for their cryptocurrency token, $PEL (ICOs).

Touchcast

Touchcast is a 3D and VR event startup powered by Microsoft Azure Cloud. It unveiled its MaaS service and introduced MCity at the Consumer Electronics Show (CES) 2022. Organizations can register for the a.metaverse domain to gain access to a secure virtual reality arena where they can build metaverse campuses.

They can help businesses flourish in the Metaverse by facilitating collaboration, hosting events, establishing virtual reality stores, holding instructional sessions, and leveraging virtual real estate.

MetaVerseBooks

MetaVerseBooks is a MaaS firm that creates and manages virtual reality environments, NFTs, and decentralized applications (dApps).

Companies can utilize the solution to boost their visibility on Microsoft's XBOX Metaverse, iOS and Android-based platforms, and any Unity-based virtual reality environment. Its main product allows organizations to keep track of NFT purchasers and metadata. This MaaS solution's Starter Edition costs USD 10,000.

Conclusion

We've covered some of the most crucial things to know about Metaverse as a Service.

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Metaverse as a Service - Empowering Organizations For The Next-Level Digital Transformation
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