For companies it is optionally possible to deploy the metaverse based on an “as-a-service” model. Software as a service refers to a subscription-based model of using software platforms rather than purchasing a lifetime or perpetual license.
The term first appeared in a 1985 filing with the United States Patent and Trademark Office (USPT). It has become popular in the cloud era. Today it is possible to implement almost anything on an “as-a-service” model.
This offers customers more flexibility and suppliers a stable revenue stream. Companies could eventually deploy the metaverse with a similar model, creating metaverse-as-a-service or MaaS. But what do we actually mean by metaverse-as-a-service? What interests does it have? The few lines that follow answer these questions.
What is metaverse-as-a-service?
The metaverse-as-a-service is defined as: a business solution† It enables organizations to develop and enhance their presence in a virtual 3D world to support collaboration, business processes, investments, cryptocurrency and other related use cases.
Note that the metaverse-as-a-service will not help companies create their own metaverse equivalents competing with Decentraland or Roblox. On the contrary, it will enable companies to make use of existing metaverse infrastructure, the same way SaaS works. Although it is an emerging technology segment, a number of vendors are already entering the metaverse-as-a-service.
Advantages and disadvantages of metaverse-as-a-service
Using MaaS has several advantages. Thanks to this, companies without in-depth digital experience or expertise at first sight developing metaverse products† Even the small and medium enterprises can participate in the metaverse economy without significant investment costs.
Furthermore, he has stimulates investment in what is still an experimental technology. Most platforms are still limited to regular use cases. In contrast, solutions such as the application suite Horizon Meta or Microsoft Mesh have not yet been widely released. In this environment, the metaverse-as-a-service enables companies invest and use technology with minimal risk† Ultimately, MaaS could lead to standardization in the industry, with a few companies acting as metaverse “brokers” to help with infrastructure development.
The downside is that organizations can run risks: to be blocked by a supplier† As the metaverse evolves, it will become increasingly difficult to port metaverse-as-a-service investments to another platform if necessary, especially without the required digital skills. However, a ‘vendor-locked’ degree of maturity is still years away. And for now, MaaS is a promising option for organizations that want to enter the metaverse.
Looking ahead, it’s pretty easy to see that the path of the metaverse will follow the same trajectory as the software. Once the metaverse as a service becomes the norm, that’s when the metaverse will really devour the world†
Examples of metaverse as a service
Here are some popular platforms that offer metaverse-as-a-service.
Lovelace World is a cryptocurrency and NFT platform. She has announced a metaverse-as-a-service offering in October 2021† The company already has its own cryptocurrency token called LACE. In addition, it plans to MaaS services to streamline metaverse adoption†
The company helps organizations to evaluate and reinvent their VR product and service capabilities so that companies can participate in all areas. Lovelace World offers a MaaS toolkit. This provides developers and users technologies needed to create and trade NFTsleverage smart contracts, monetize VR games, integrate with other metaverse platforms, and much more.
Drive is a platform for blockchain solutions which provides plug-and-play infrastructure tools for the metaverse. The company has announced that it will offer metaverse-as-a-service solutions for smart contracts, NFT tools and decentralized finance (DeFi). In addition, she led a round of funding for its $PEL cryptocurrency token through an Initial Hot Cross Offering (IHO), which works similarly to Initial Currency Offerings (ICO).
Touchcast is a 3D and VR event business operating Microsoft Azure Cloud. It announced its metaverse-as-a-service offering on Consumer Electronics Fair (CES) 2022, where she launched MCity. Organizations can register for a metaverse domain, providing them with a secure VR space to build metaverse campuses.
In the metaverse, they can facilitate collaboration, organize events, create VR stores, organize learning sessions or use virtual real estate to stimulate business growth.
MetaVerseBooks is a MaaS provider that: tools for creating a VR world, NFTs and decentralized application management. Businesses can use the solution to: bolster their presence on Microsoft XBOX Metaverse, iOS and Android platforms, and on all Unity-based VR environments. The core solution enables NFTs, allowing companies to manage NFT shoppers and associated metadata.
About the metaverse
To better understand the metaverse-as-a-service, it is important to define what the metaverse (or metaverse) is. In fact, the term refers to a network of interconnected 3D virtual worlds† Thanks to this, users can participate in a realistic social economy† It is possible to buy and sell products, earn money and make friends. You can also create brands and collaborate with colleagues on a space communication platform.
The term metaverse has gradually gained popularity in the tech world with the rise of multiplayer games† Just to mention Second Life, Minecraft and Roblox. Decentraland expanded the concept by launching a metaverse platform that allows users to trade their own cryptocurrency, MANA for the purchase of real estate and digital goods in VR.
Moreover, Facebook promoted the metaverse as a pioneering technology force following the rebranding of the group to Meta Platforms in 2020. The group announced that it would invest $50 million in its development. As more and more companies such as Microsoft, Samsung, NVIDIA, HTC and others venture into a metaverse segment, it is only a matter of time before markets metaverse-as-a-service offer† So businesses will benefit from the technology with fewer barriers to entry.
The metaverse is still in its infancy
The current metaverse user experience is not optimized yet. But that doesn’t mean things won’t change already, as they always have with every technology cycle. The most famous quote from the famous investor Marc Andreessen is that “software eats the world”. He recognized the transformative potential the software unleashed†
Less than a decade after his statement, companies were spending money on $600 billion a year in business software, an increase of 123%. Today, no one buys licenses or installs programs on their machines anymore. Companies don’t even own or operate their equipment anymore. Everything from infrastructure hardware to document storage to software, is provided “as a service”†
metaverse-as-a-service is the inevitable next step† Currently, brands use established metaverses such as Decentraland or Roblox because that is available. In reality, these are the users. In addition, it provides them with an infrastructure to test the first ideas on how to exploit the metaverse for branding and marketing purposes†
More metavers, more opportunities
Obviously, the relatively small handle of metaverse cannot support in use all metaverse use cases for a worldwide user base. There are Blockchain Scalability Issues, Of course. But it also has user experience and brand ROI. The busier a metaverse is, the harder it becomes for a brand or use case to stand out or for a user to find what they’re looking for.
On the other hand, there are plenty of legitimate adult businesses that can be shut out by imposing rules that make a metaverse kid-friendly. Therefore, the metaverse as a service will invariably become the dominant business model as brands and industries will recognize the value of special spaces†
As such, a luxury brand metaverse with logos, catwalks and virtual storefronts will invariably be a very different place from relative tranquility. of a wellness metaversewhere people go to a virtual doctor or do group meditations and learn yoga.
The concept can be rejected at will. The Food Metaverse – a virtual restaurant where you order for home delivery – can have several iterations targeting specific meals or dietary options. The school metaverses can focus on different topics, skills, age groups or languages.