Top Metaverse Use Cases 2024

The metaverse, or 3D internet as we call it, is rapidly transforming various aspects of human interaction and commerce through its immersive digital environments. Its significance lies in its ability to offer a new dimension for interaction, breaking geographical boundaries, and redefining the traditional social and economic engagement paradigms. McKinsey & Company predicts that the metaverse will add $5 trillion by 2030, highlighting its rapid evolution and adoption of 3D internet technologies across industries.

In the Middle East, the adoption of 3D internet technologies is witnessing a remarkable surge, positioning the region as a hub for digital innovation. According to a publication by Alareeb ICT, Saudi Arabia is investing significantly in metaverse startups, supporting research, and pioneering innovative applications across various sectors. Saudi Arabia's ambitious $500 billion city development endeavor, NEOM, has also incorporated a metaverse component. This feature improves construction workflows and promotes collaboration among various stakeholders. Another country leading the way in the region is the United Arab Emirates (UAE). The region’s 3D internet innovations are driven by the Dubai Metaverse Strategy and the first metaverse accelerator in the Middle East to develop early-stage metaverse and Web3 projects. 

This blog dives into key use cases of the metaverse that organizations and governments must explore to understand its transformative potential across sectors.

Marketing

Businesses in the USA plan to increase their budgets on metaverse advertising from $0.53 million to $1.93 billion between 2023 and 2028, as per data presented by Banklesstimes.com. This number signifies that the metaverse is increasingly becoming a pivotal space for brands to execute their marketing strategies for several compelling reasons:

• It’s the second-best thing to reality: The 3D internet offers a digital environment that closely mimics real-world interactions and experiences with the support of game engines like Unity and Unreal. This virtual space allows for immersive experiences that can replicate, and sometimes surpass, the engagement levels of physical interactions.

  
  

• Build customer loyalty from engaging experiences: In the metaverse, brands can reimagine loyalty through innovative programs and rewards by offering digital assets and unique perks to those who purchase them. Individuals will be encouraged to keep returning and interacting with a brand in the metaverse to continue earning rewards. 

  
  

• Showcase value and stand out in a crowded market: In a digital age where consumers are bombarded with countless marketing messages, the metaverse provides a novel platform to provide users with engaging experiences, entertainment, and knowledge. Here, brands can distinguish themselves by showcasing their values, products, and other offerings in an interactive format that stands out.

  
  

• Drive real engagement: The metaverse's immersive nature encourages active participation from users, resulting in longer, more meaningful, and more memorable interactions. Metaverse platforms like Roblox have users spending, on average, 156 minutes a day on them, according to a Forbes publication. Brands that use these interactive platforms to connect with an already engaged user base stand to benefit. For example, McDonald's has created a virtual store in Animal Crossing where customers can order virtual meals and earn rewards. 

A notable example of an organization leveraging the 3D internet for marketing is the Luxury tech firm Bureau Béatrice. With operations in the UAE and Saudi Arabia, Bureau Béatrice partnered with Cartier in 2019 to introduce the Santos timepiece collection in the region. Instead of merely presenting the legacy of the ‘Santos Dumont aviator’ with images and historical artifacts, the company provided customers with a captivating virtual reality journey where they were immersed in the narrative within moments. Cartier recognized that evoking emotion, rather than just displaying a logo, was vital in conveying the deep symbolism they aimed to express.

Real Estate

Brands and governments increasingly turn to the metaverse for real estate due to its potential to increase revenues, enhance customer experiences, and revolutionize property marketing through immersive and interactive digital environments. The 3D internet offers opportunities for virtual property exploration, interactive experiences, efficient communication with clients, and the creation of digital twins for informed decision-making in real estate transactions.

Here are some ways the metaverse helps real estate:

• Showcase real estate through digital twins: Digital twins in the metaverse offer a virtual replica of physical properties, providing detailed data points and an immersive property viewing experience. Viewers can look at intricate details, designs, and layouts of buildings and landscapes without requiring physical presence. For developers and sellers, it presents an opportunity to demonstrate the potential of their properties in a controlled, customizable environment, making it easier to convey the vision behind undeveloped or under-construction projects.

  
  

• Staging properties virtually: Virtual staging transforms empty spaces into furnished, decorated properties without the physical labor and expenses typically involved in traditional staging. This feature makes the properties more appealing to potential buyers by helping them visualize living or working in the space and allows for easy customization. Buyers can see various furniture layouts and design styles with a few clicks, enhancing their decision-making process.

  
  

• Breaking geographical barriers: The metaverse removes the limitations of geography, enabling buyers from anywhere in the world to explore and experience properties as if they were there in person. This global accessibility expands the seller market and provides buyers with a broader range of options, regardless of physical location.

  
  

• More environmentally friendly solution: Virtual real estate in the metaverse provides a greener alternative to traditional real estate practices. Physical site visits, especially in the initial stages of property exploration, can lead to significant carbon emissions due to travel. By reducing the need for these visits, the 3D internet lowers the carbon footprint associated with real estate transactions. Moreover, digital twins and virtual staging minimize the need for physical materials and waste, aligning with sustainable development goals.

DAMAC Properties is a great example of a real estate project in the Middle East utilizing the metaverse. This project lets buyers immerse themselves in a virtual world, blending digital innovation with luxury real estate. By embracing blockchain and cryptocurrency, DAMAC offers a peek at futuristic 3-bedroom apartments in DAMAC Hills and ready-to-move options in High Gardens and Zada Tower and champions transparency in the buying process. It's a bold step towards modernizing property investment in Dubai.

Tourism

Tourism in the metaverse is a rapidly growing concept that offers innovative and immersive experiences to travelers. The 3D internet allows users to explore travel destinations virtually, creating new opportunities for the tourism industry. This virtual world enables interactive and personalized travel experiences without geographical constraints.

• Global reach: The metaverse eliminates physical and geographical limitations, allowing destinations to market themselves to a global audience without constraints. By creating virtual experiences that people can access from anywhere worldwide, destinations can attract potential visitors from far and wide, significantly expanding their reach and influence.

  
  

• Economic growth: Virtual tourism can generate revenue through virtual experiences, digital merchandise, and virtual events, contributing significantly to local economies. The Strategy& report highlighted the metaverse's potential contribution to GCC economies, estimating a $15 billion impact by 2030. Travel and tourism are expected to reap the greatest economic gain, at an estimated $3.2 billion throughout the GCC.

  
  

• Greener approach: Virtual tourism in the metaverse offers an environmentally friendly alternative to traditional travel, reducing the carbon footprint associated with transport and accommodation. 

  
  

• Preserve historical and cultural sites: The metaverse enables the preservation and presentation of historical and cultural sites in a digital format. This digital representation not only safeguards these treasures for future generations but also allows people worldwide to explore and learn about heritage sites without risking damage to the physical locations. 

The Royal Commission for AlUla (RCU) in Saudi Arabia has utilized the metaverse to enhance tourism by creating a virtual experience of the Hegra World Heritage site. This initiative allows users from around the globe to virtually explore the ancient city of Hegra, also known as the Tomb of Lihyan, thereby breaking geographical barriers and providing an innovative, sustainable way to promote tourism and cultural heritage in the region. The Ministry of Culture of Saudi Arabia also recently launched a 3D internet experience called the "Cultural Universe," where visitors can navigate various cultural landmarks and live through virtual representations of historical events. In the UAE, the Dubai Tourism Board also uses the metaverse to market the city’s iconic landmarks to people worldwide and attract tourists. 

Sport

Sports brands increasingly turn to the metaverse due to its unique capabilities in enhancing fan engagement, providing immersive virtual experiences, and offering global reach. 

Here's a closer look at why the metaverse is compelling for sports brands:

• Increase fan engagement: The metaverse offers an interactive platform that transcends traditional viewing experiences. Fans can engage with sports in real time, participate in virtual events, and interact with athletes and other fans in previously unimaginable ways. This increased engagement deepens fan loyalty and creates a more vibrant, engaged community around sports brands.

  
  

• Virtual experiences: In the metaverse, fans can virtually attend games, experience behind-the-scenes tours, or participate in training sessions with their favorite athletes. These experiences can be personalized to meet individual fans' preferences, offering a unique value proposition that enhances the experience and fosters a deeper connection with the sport.

  
  

• Global reach: The 3D internet allows sports brands to reach a global audience and allow fans to interact with each other and the team without the geographical limitations associated with physical sporting events.This global connectivity boosts the brand's visibility and cultivates a diverse and inclusive fan community.

In the Middle East, Qatar is set to host the region’s first FIFA gaming tournament in the metaverse. This pioneering move merges the world of esports with virtual reality technology. This event will allow fans to engage as customized avatars, enabling them to interact in a more immersive and interactive environment than traditional online or physical gaming tournaments. By offering voice communication in virtual chat rooms, the streaming will enhance the spectator experience. Initiatives like this could significantly influence future trends in sports and esports, potentially transforming how global audiences participate in and view competitive gaming events.

Urban Development

The metaverse offers innovative ways to reimagine cities' planning, development, and management. Governments worldwide are leveraging this technology to enhance urban landscapes, improve public services, and foster economic growth. 

Here are some reasons why the integration of the metaverse in urban development is helpful:

• Promoting tourism and heritage: The metaverse offers a platform for users to experience historical sites, cultural landmarks, and tourist attractions virtually. This digital replication not only makes cultural heritage more accessible but also provides a sustainable model for tourism, reducing the environmental impact of travel. 

  
  

• Smart cities 2.0: The concept of smart cities is evolving with the metaverse, leading to the emergence of Smart Cities 2.0. This new phase integrates digital twins, virtual reality (VR), and augmented reality (AR) to enhance urban planning and management. By creating virtual replicas of cities, governments can simulate and analyze urban dynamics, including traffic flows, energy consumption, and disaster management scenarios. This approach facilitates more informed decision-making, optimizing resource allocation, and improving the quality of urban life. 

  
  

• Enhancing public services: The metaverse is revolutionizing the delivery of public services by providing interactive and personalized experiences for citizens. From virtual town hall meetings to online education and healthcare consultations, the 3D internet enables governments to offer essential services in a more accessible and engaging manner. This digital transformation improves service efficiency and fosters a more inclusive public service model, reaching underserved communities and enhancing citizen engagement.

  
  

• Data visualization: The 3D internet offers advanced capabilities for visualizing urban data in three dimensions, enabling planners and policymakers to better understand spatial relationships and urban patterns. This immersive approach to data analysis supports more effective urban planning strategies, facilitating the visualization of potential developments and urban changes before they are implemented.

NEOM, an ambitious $500 billion urban development project in Saudi Arabia, is pioneering the integration of a "cognitive digital twin metaverse" to revolutionize its design and construction methodologies. The XVRS platform facilitates a dual existence for individuals, both in the physical world and within the metaverse, through avatars or holographic personas. This innovation grants participants a significant role in the decision-making processes, influencing the construction and urban planning of NEOM. Through XVRS, users can virtually modify elements of NEOM’s properties, such as apartment color schemes. These virtual customizations can subsequently be actualized in the physical structures.