Metaverse ‘once-in-a-lifetime opportunity’ for Thai business: expert
Thais should be more open-minded about the metaverse, whose benefits go far beyond being a marketplace for buying and selling digital assets, one of the country's metaverse pioneers said on Saturday.
Speaking on the second day of Thailand Metaverse Expo 2022, Metaverse XR founder Sathian Boonmanan said those who viewed the internet’s new frontier as merely an online marketplace were missing out on huge opportunities.
The metaverse, he explained, is a social platform that enables three-dimensional use: real-time interaction, immersive experience and multi-user access from any device.
"This means that people from all over the world can meet, play and interact in the blink of an eye. Any device, such as smartphones and [virtual reality] glasses, will assist us in seeing where the real world intersects with the virtual world," Sathian stated.
Speaking on the topic of "Adoption of the Metaverse in Business", he demonstrated the various aspects of the metaverse – virtual reality (VR), augmented reality (AR) and extended reality (XR).
He added that Thailand should focus on XR, citing use cases that demonstrate it provides a superior internet experience.
The term "extended reality" refers to hybrid real-virtual environments and human-machine interactions enabled by computer technology and wearables.
"The world keeps changing but people's demands and desires stay practically the same,” noted Sathian. “What we need to do is use the latest technology to improve people's experience in what they demand.”
He concluded by saying that all of the technology he demonstrated can be developed entirely by Thais. Hence, the metaverse was a once-in-a-lifetime opportunity for Thailand to transform itself into one of the world's leading technological nations, generating enormous revenue for the country.
PwC projects the global metaverse market will increase seven-fold between now and 2030, generating US$1.5 trillion (53.7 trillion baht), with AR, VR and XR leading the way.
