Metaverse technology has faced challenges stemming from its immense potential for growth.
As technologies, the VR and AR of the previous era had their limitations, such as the lack of vision of the environment and graphic restrictions. Activities in the metaverse just aren’t as engaging as those in the real world or even regular online games.
Self-sufficiency is another area where many metaverses struggled. In the early stages of the metaverses, there simply wasn’t enough technical sophistication or footfall to create adequate use cases to keep the economy going. Thanks to advances in VR and AR, and the integration of metaverses with AI, the use cases are increasing and, consequently, the monetization options.
Like any new technology, the metaverses also face adoption issues, although this is ongoing. gradually changing with projects like Decentraland (MANA), The Sandbox (SAND) and now the MeetKai metaverse. At Decentraland, participants can buy and sell virtual real estate while exploring exciting games. Sandbox offers a gaming ecosystem that allows users to create, share and monetize game assets, while Meetkai has created a realistic metaverse that is qualitatively better than the real world, thanks to its AI integration.
Sophisticated integration of XR and AI technologies has led to more engaging virtual worlds, resulting in better adoption and subsequently more revenue for all stakeholders in the ecosystem .