It’s hard to overstate the technological demand for virtual reality. And although the Metaverse looms shortly with promises of greatness by Mark Zuckerberg, there’s still plenty of uncertainty swirling in the distance. If it’s so demanding to run virtual reality software, and if the hardware is so expensive, who will be able to partake in its greatness?
As it stands, there would be a decent portion of the population unable to use this technology. But as we’ve previously seen with Blu-ray players, flat-screen TVs, and GPS hardware: affordability will come in time. When it does, industries will need to be ready to shift to a digital future with whole businesses able to operate within the Metaverse. In light of this, we wanted to look at a few industries and see how they’ll develop in the age of VR. After all, old tricks might not make as big of an impact in the Metaverse.
With a huge player base already established, online casino has a good foundation to move in whatever direction it needs to. Poker, live dealer blackjack, sports betting, and slot games are all casino staples that would benefit greatly from a virtual reality makeover. Games such as Starburst, Gonzo’s Quest Megaways, and Buffalo Blitz could all transition to a full VR overhaul where players could be transported to the worlds these games have already created.
This especially applies to sports betting, where the online casino industry could partner with NFL, NHL, MLB, etc., and sell virtual tickets to games on which players have placed wagers. If customers like that system, they could sell season tickets to sports where a customer would only need to place a bet on a game to get tickets every day of the year. Otherwise, the virtual seats could be sold at an extra charge. The online casino has much to gain from VR and so many ways to grow, but we expect some of those above to make an appearance.
Who doesn’t shop online nowadays and doesn’t like shopping for stuff they love? While online shopping has already been quite popular, with over 2.1 billion people making purchases on the web, we think virtual reality will bring a new coat of paint to an already thriving industry. By allowing customers to digitally walk around their online stores and letting them try on outfits and test out new products, physical locations would lose even more ground to the online market. Operating similarly to a physical location while still saving customers the cost of gas would be a huge boon for online sales. We just need to see how far VR technology comes over the next 5-10 years.
With the world hitting an all-time high to scratch the travel itch, we couldn’t help but think of how the travel/tourism industry would be affected by VR. But with tourism taking a huge hit in 2019-2021, we think countries will make a concerted effort to make products that allow customers to travel their borders with only a VR headset and accompanying computer. The projections already point to VR as the go-to option for travel, but we think the possibility of cutting costs to a fraction of what they would normally be, speaks for itself. It might not be enough for everyone, but we certainly think a huge percentage of people could turn the travel industry towards VR as a side hustle.
But, again, all of this depends on how accessible VR becomes. Currently, the hardware is quite expensive, so for people to justify the expense, costs would either need to come down, or money-saving practices like the ones mentioned above would have to be commonplace in more than just these three industries. We’ll be sure to keep you up-to-date as the technology progresses.