Metaverse, AR, MR, VR, XR...what does it all mean? In simple terms, the Metaverse is where all computer oriented and networked extended reality; commonly referred to as XR. Following the acronym path, XR encompasses all computer-generated realities; AR (augmented reality), MR (mixed reality), and VR (virtual reality). Most in the industry are familiar with the latter acronyms, AR, MR, VR, thanks to several manufacturers that have embraced this technology and brought it to the amusement industry (King Kong Skull Island, XD Theater, Omni VR, and many more).
Most of our industry leading XR's are branded and produced for the quick consumer and average anywhere from 5-10 minutes per play. But the ever growing Metaverse (go watch the movie or read the book Ready Player One) offers so much more. Many experts say the Metaverse will not only be a part of our normal, every day environment, but it will encompass 50% of what we do daily. This theory alone is overwhelming, but when it comes to the amusement industry, what does it mean for us? The honest answer is, we don't know, but the hypothetical reasoning is, if the 54% of experts who believe the metaverse will be a majority of our lives (Pew Research Center), this may end up following the path of home-based entertainment that revolutionized our industry...for the good or bad, depending on who you ask.
When Super Mario Bros. first hit the home market, many saw it as a plus for our industry and something we could capitalize on. And in some part, that was true. Mario Brothers became an arcade game, NFL Blitz, NBA Jam, all hit the arcade market and moved to the home market. In the beginning, it was a harmonious relationship. But something happened along the way, programmers realized there was more value, and return, creating games for the home market versus large arcade games, so the games that used to come to the amusement industry first started going to the home market. Following, the game consoles started investing in technology and the graphics and game play slowly became the same or better than what they were at our arcades. And the story goes as we all know it, and eventually 90% of our industry embraced redemption and merchandise, where we find ourselves today.
Back to the present, what does that mean for our XR industry, which we have tried to bring into our amusement centers for over 3 decades (remember the VR Vortex system by Global VR?)!! The technology has FINALLY caught up to our visions and the XR machines are some of the top earners in our centers. But what does this mean IF the metaverse does what some experts believe...and what possibly we should fear?
The Pew Research Center has a fascinating article: THE METAVERSE IN 2040. We highly recommend checking it out for more information on the metaverse, XR, and what 624 industry experts see for the future.
Source: Pew Research Center
Authors: Janna Anderson and Lee Rainie
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