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The Application of the Metaverse in the Entertainment Industry and Its Commercial Value
- 1 The University of Melbourne, Victoria 3010 Australia
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Abstract
Nowadays, people are yearning for new recreations to enrich their lives, and in this context, various technologies such as artificial intelligence (AI), virtual reality (VR), and augmented reality (AR) are developing rapidly. By now, some entertainment companies have created virtual idols or characters in the “metaverse”, a new concept referring to a virtual shared space, in order to attract the public’s attention, satisfy their changing needs in the fast-developing society, and get higher profits. This new concept has become popular around the globe, leading to massive imitation from other companies. This paper introduces the definition and typical examples of the metaverse, summarizes its application in the entertainment industry, and analyzes its commercial value as well as future development trends. Overall, virtual idols launched by entertainment companies in the metaverse have achieved great success, proving the commercial value and development potential of the metaverse. Meanwhile, the innovation of the metaverse not only labels the advances in science and technology but also reflects people’s pursuit of higher life quality as well as their rising expectations for the future.
Keywords
Metaverse, Virtual Reality, Entertainment Industry, Commercial Value
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Cite this article
Fang,Z. (2024). The Application of the Metaverse in the Entertainment Industry and Its Commercial Value. Advances in Economics, Management and Political Sciences,84,116-119.
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Volume title: Proceedings of the 2nd International Conference on Management Research and Economic Development
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