Telecom Industry to Spearhead Metaverse Services Development?

By Greg Tavarez, TMCnet Editor  |  March 14, 2023

The metaverse is changing the ways people interact through avatars. As the wrinkles with the metaverse are ironed out, various industries are looking to capitalize on its potential.

Some are already a step ahead.

The gaming industry, for instance, sees video games that take advantage of the immersive and interactive nature of the metaverse. Virtual real estate also sees a boost each time companies buy up virtual land and buildings in the metaverse with the expectation that they become valuable assets in the future. The metaverse is even changing the ways of retail shopping for a more immersive online experience.

Among the industries that seek to capitalize on the metaverse, the telecom sector stands out as particularly noteworthy. This is due to the vast infrastructure and specialized knowledge of telecommunication companies, which enables them to deliver quality assurance, prioritize access, and curate content.

GlobalData, a data and analytics company, suggests that telecommunication firms have an unparalleled opportunity to leverage the metaverse trend by providing users with various services, including content aggregation, digital security and device lifecycle management. Due to their extensive infrastructure and proficiency in ensuring quality assurance, prioritized access and curation, telcos are well-positioned to spearhead the development and monetization of metaverse services that enrich the virtual encounters of users worldwide.

According to a study conducted by GlobalData's Tech Team, the realm of content presents an enticing opportunity for telcos to venture into the metaverse, too. By engaging in commercial content marketing, promotions and services, many telcos are already making strides toward realizing a concrete metaverse experience.

Additionally, telcos strive to expedite the acceptance of the metaverse among consumers by providing augmented experiences that simplify access to the developing proto-metaverse. These experiences utilize standard web interfaces and interfaces that are specifically engineered to be compatible with web browsers on smartphones.

“Attempts to monetize the metaverse are already underway,” said Natasha Rybak, Principal Analyst of Global Telecom Consumer Services at GlobalData. “Besides supplying critical connectivity, content and entertainment are obvious paths to consumer service commercialization for telcos already acting as the primary streaming service aggregators for their consumer customers.”

Rybak went on to say that as the pursuit continues to define the developing metaverse within the wider shift to digital lifestyles, the fundamental components for shaping future telco service models are being arranged for optimal alignment.

Edited by Alex Passett