Management Practice Insights
DOI: 10.59571/mpi.v2i1.3
Year: 2024, Volume: 2, Issue: 1, Pages: 11-15
Original Article
Saikat Das 1
1 Assistant Professor with Information Management & Analytics department at SPJIMR
Correspondence
Received Date:29 November 2023, Accepted Date:29 January 2024, Published Date:29 March 2024
Till 2021 most of us would have associated the term ‘metaverse’ with the world of superheroes or just another name for Facebook. Not anymore. The new normal of remote and hybrid workplaces is here to stay and so are immersive technologies, such as Virtual Reality and Augmented Reality (VR and AR) that drive these workplaces forward. Such technologies, when used in tandem, are called Hybrid Virtual and Augmented Reality or HVAR, and are finding widespread usage – not just in remote workspaces. So, for all Chief Information Officers (CIO) and Chief Marketing Officers (CMOs) who want to engage with digital-first users in immersive and interactive ways, the need of the hour is to make smart HVAR investments. Research by Yue Li, Eugene Ch’ng, and Sue Cobb identifies two vital elements in deploying effective Hybrid Virtual and Augmented Reality (HVAR) environments.1 First, the study identifies new design strategies that enhance user engagement and encourage interaction within HVAR environments. Second, the research uncovers a new way to track user engagement – through wearable technology. This last insight enables CIOs and CMOs to make more precise investments for continuous improvement to user engagement.
1 Yue Li, Eugene Ch'ng, and Sue Cobb, “Factors Influencing Engagement in Hybrid Virtual and Augmented Reality,” ACM Trans. Comput.-Hum. Interact. 30, no. 4 (September 2023), https://doi.org/10.1145/3589952.
2 “What Is a Metaverse? And Should You Be Buying In?,” Gartner, accessed January 29, 2024, https://www.gartner.com/en/articles/what-is-a-metaverse.
3 Jonah Trenker, “Metaverse: Market Data & Analysis,” September 2023, did-132822-1, Statista, https://www.statista.com/study/132822/metaverse-market-report/.
4 Celebrity Cruises Press Center, “CELEBRITY CRUISES LAUNCHES THE WORLD\'S FIRST DIGITAL CRUISE SHIP EXPERIENCE IN THE METAVERSE,” accessed January 22, 2024, https://www.celebritycruisespresscenter.com/press-release/1277/celebritycruises-launches-the-worlds-first-digital-cruise-ship-experience-in-themetaverse/.
5 Vlad, “FIAT Creates the World's First 'Metaverse-Powered Showroom' - ArenaEV,” December 1, 2022, https://www.arenaev.com/fiat_creates_the_worlds_first_metaversepowered_showroom-news-1096.php.
6 Hyundai News, “Hyundai Motor Vitalizes Future Mobility in Roblox Metaverse Space, Hyundai Mobility Adventure,” January 9, 2021, https://www.hyundai.news/eu/articles/press-releases/hyundai-vitalizesfuture-mobility-in-roblox-metaverse-space.html.
7 Chipotle Newsroom, “FANS CAN ROLL BURRITOS AT CHIPOTLE IN THE METAVERSE TO EARN BURRITOS IN REAL LIFE - Apr 5, 2022,” April 5, 2022, https://newsroom.chipotle.com/2022-04-05-FANS-CAN-ROLL-BURRITOSAT-CHIPOTLE-IN-THE-METAVERSE-TO-EARN-BURRITOS-IN-REALLIFE.
8 Aaron Drapkin, “Metaverse Companies: Who's Involved and Who's Investing in 2023,” Tech.Co, January 24, 2022, https://tech.co/news/metaverse-companies-whos-involved-whos-investing.
9 Mitchell Clark, “NFTs, Explained: What They Are and Why They're Suddenly Worth Millions - The Verge,” accessed January 22, 2024, https://www.theverge.com/22310188/nft-explainer-what-is-blockchaincrypto-art-faq.
10 Mark Purdy, “How the Metaverse Could Change Work,” April 5, 2022.
11 Thomas Stackpole, “Exploring the Metaverse,” Harvard Business Review, July 1, 2022, https://hbr.org/2022/07/exploring-the-metaverse.
12 Katie Holdefehr, “These Innovative Apps Help You Visualize Furniture in Your Home,” Real Simple, June 29, 2022, https://www.realsimple.com/home-organizing/decorating/augmentedreality-furniture-shopping-apps.
13 The Medical Futurist (blog), April 5, 2017, https://medicalfuturist.com/top-vr-companies-healthcare/.
14 Dusan Stojanovic, “The Best EEG Headset In 2023,” The Unwinder (blog), March 25, 2021, https://the-unwinder.com/reviews/best-eeg-headset/.
15 Bernard Marr, “The Top 9 Metaverse And Web3 Consulting Firms,” Forbes, November 21, 2023, https://www.forbes.com/sites/bernardmarr/2023/03/16/the-top-9-metaverseand- web3-consulting-firms/.
16 Shashank Bhardwaj, “Seoul Opens City's Metaverse Seoul Project To The Public - Forbes India,” January 19, 2023, https://www.forbesindia.com/article/cryptocurrency/seoul-opens-citysmetaverse-seoul-project-to-the-public/82637/1.
17Karen Krol, “Why Cities Are Exploring Metaverse Technology,” Smart Cities Dive (blog), August 8, 2022, https://www.smartcitiesdive.com/news/cities-metaverse-engagement-seouldubai-santa-monica/629104/.
18 IZEA, “Celebrities and Brands Embracing the Metaverse,” IZEA (blog), January 21, 2022, https://izea.com/resources/celebrities-brands-metaverse/.
19 Mark Purdy, “How the Metaverse Could Change Work.” Dr. Bertalan Mesko, PhD, “Top Virtual Reality Companies in Healthcare,”
© 2024 Published by SPJIMR. This is an open-access article under the CC BY license (https://creativecommons.org/licenses/by/4.0/)
Subscribe now for latest articles and news.
