The second nicheletter covering the basics of the Virtual Economy. Every 2-3 months I explore certain niches and share what I’ve learned. If you think we should talk about building biz in niches, send me a DM on Twitter.
Virtual reality VR
A headset completely covering one’s eyes and blocking all light from outside. You see only what’s happening “in the headset”.
Augmented reality AR
A device/app made to add virtual objects into your real world. You want to buy a new piece of furniture and thanks to AR you can actually see how it would look like in your room. Also a great option for various technical stuff like repairing a machine. You point at a part and get a list of things to do. Literally unlimited industrial application potential, healthcare, design, etc. It is quite easy to build stuff using just a smartphone.
Mixed reality MR
As the name says, it’s a mix of virtual and augmented. A simple example would be having three virtual monitors on your real-life desk in your real-life office. You can see your hands. You can lift both real and virtual things.
Present and future
Possibilities are limitless. Devices will be made by big tech/electro companies as it requires loads of money. A couple of tech companies will own the tech enabling “everybody” to build stuff in the virtual world. The biz then should be the platforms where people could buy and spend their time.
Just a couple of ideas
360 immersive events like concerts or sports event giving you the feeling of being there IRL.
Live streaming by an influencer, so you can be there with a small group of other people. Having fun experiences, lunch, party, etc.
Virtual travel channels on “VTube”.
Games will be for a long time the biggest revenue source. Skins, tools, weapons, etc.
Meeting people. Friends, strangers, celebrities.
Shopping from the high street to your room. A real-life/virtual influencer showing you their/other brand’s new merch.
Connecting with smell and taste devices would bring loads of mixed experiences.
Porn. Obviously. Connected to devices in the right places.
Extreme sports like jumping out of a space station, driving a super-fast car, plane.
Education on a different level, famous engineer sitting in your room explaining how is a rocket built.
Marketing will find plenty of ways how to use this technology.
By 2025 AR, VR, MR is expected to reach $300B.
Big tech/electro brands will build and improve their products. Assuming the “final” product would be an MR that comes in a form of a contact lens. The first VR by Sensorama was a big machine just like the first computer, etc. We have made a great job in making VR smaller but still a lot to do.
Size is the biggest current obstacle. It’s about weight, computational power, batteries, etc.
Once VR, AR, MR will be convenient to wear and use, there will be a culture shift and everyone will have one.
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