Metaverse technology has been confronting challenges that stemmed from its immense growth potential.
As technologies, the VR and AR of the previous era had their limitations such as a lack of vision of the surroundings and graphical restrictions. Activities on the metaverse are simply not as engaging as those in the real world or even regular online games.
Self-reliance is another aspect where many metaverses were struggling. In the initial phase of the metaverses, there was simply not enough technical sophistication and footfalls to create adequate use cases to keep the economy rolling. Thanks to advancements in VR and AR, and the integration of metaverses with AI, use cases are increasing and subsequently, options for monetization.
Like any new technology, metaverses were also facing adoption issues, though this is gradually changing with projects like Decentraland (MANA), The Sandbox (SAND) and now MeetKai metaverse. On Decentraland, participants can buy and sell virtual real estate while exploring exhilarating games. Sandbox offers a gaming ecosystem that enables users to create, share and monetize gaming assets whereas Meetkai has created a realistic AI-powered metaverse that emulates the real world and is accessible via browser, on smart phones and computers, for maximized accessibility.
The sophisticated integration of XR and AI technologies has resulted in more engaging virtual worlds, resulting in better adoption and subsequently, more revenues for all stakeholders in the ecosystem.
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