The Metaverses trend refers to a three-dimensional (3D) virtual environment that is open and interoperable, much like the internet. Users can enter in the form of avatars to gain knowledge, enjoy entertainment, interact with each other, work collaboratively, and consume assets and services in a virtual world that is linked to the real world.
First realized in online video games in the early 2000s, a metaverse is conceptualized as the next stage of social connection and engagement after the internet. A metaverse environment is typically but not exclusively built on extended reality (XR) technology. Prior to the metaverse, XR applications occurred in contained digital environments with targeted functionalities; for example, solutions supporting employee training. Instead, the metaverse is a shared, and immersive world connected to the wider online ecosystem. It can be accessed with or without an XR headset, such as the Microsoft HoloLens, Meta Quest 3, or Apple Vision Pro.
Once the metaverse hype peaked in 2022, critical voices started to be heard, declaring the trend in decline because of continued losses at Meta’s Reality Labs division, amounting to US$ 11.5 billion in 2023, and to the downturn of non-fungible tokens (NFTs).
The trade and sale of blockchain-supported NFTs were core to the hype around metaverse economies. On the front end, NFTs can take many forms, like digital artwork and representations of real-world objects such as clothes and cars; on the back end, they are digital non-interchangeable receipts that act as proofs of ownership of digital or physical assets.
These doubts were reflected by Google search trends. The search term “metaverse” reached highest popularity in 2022 and subsequently declined. But, despite these indicators, the metaverse market is still predicted to grow. Between 2024 and 2030, an annual growth rate of over 35% is anticipated.
For all industries, including logistics , the metaverses vision remains relatively distant in terms of realization. Currently, different metaverse approaches exist, resulting in multiple “multiverses” that are fragmented, not interoperable, and unconnected. It is yet to be seen whether a single metaverse (or several large and connected metaverses) can form to the extent that the concept suggests.
At DHL, we believe the possible impact of metaverses and their relevance to logistics and the supply chain are yet to be understood. Nevertheless, companies should be monitoring developments around this trend today as the course towards the infrastructure for a single metaverse is being set.
