Metaverse, Digital Twins, and IoT
Facebook recently announced it was changing its company name to “Meta” to reflect its pivot to become a leader in the development of the metaverse. This brought attention, not only because of Facebook’s industry dominance, but because the announcement was the first introduction to the concept of “metaverse,” for many. Despite the buzz, exactly what the metaverse is, is not always clear.
What is the Metaverse?
Simply put, the metaverse is a concept of a virtual (online) world that is “parallel to the physical world.” Several sources pin the word back to a 1992 dystopian novel by Neal Stephenson, Snow Crash. Like many other terms in the evolving tech world, the term “metaverse” has amorphous definitions and boundaries, still changing as technology progresses. The metaverse encompasses overlap of physical and digital environments with integration through things sensor data driven digital workspaces, virtual events, and the digital economy. This includes virtual reality (VR), simulated online spaces, and augmented reality (AR), which provide a data, visual or augmented overlay of data on a view of the “real world.” However, the metaverse is not limited to access through these methods only. Perhaps the best know examples are in gaming applications, example, popular platforms like Fortnite and Roblox are virtual worlds that offer access to virtual concerts and exhibitions. And of note, many different virtual worlds such as Second Life and Kaneva have been around for a while. In terms of opportunity, the market is a growing one. In 2021, Grayscale identified the metaverse market as potentially being worth trillions, and current valuations from Emergent Research estimate a market size of around 50 billion US dollars.
Digital Twins
In speculation about application of the metaverse, the concept of digital twins frequently appears. According to IBM, this use case, digital twins, are “a virtual representation of an object or system that spans its lifecycle, is updated from real-time data, and uses simulation, machine learning and reasoning to help decision-making.” This offers many applications; for example, digital twins can be used in urban planning to create models and use data in real time for those models. Digital twins also allow for more collaboration and consultations instantaneously and from afar; for example, an engineer or consultant could access the digital twin model, for factory IoT logistics management, from anywhere rather than strictly in person. Anheuser-Busch has created a digital twin of their breweries and supply chain that allows them to understand complex relationships, make adjustments based on changing conditions, and reduce emissions through efficiency gains.
IoT, Digital Twins, and Metaverse
The role of the Internet of Things (IoT) is impossible to ignore in digital twins and, consequently, the metaverse. One school of thought is that digital twins will become entwined in the metaverse and may even become the “foundation that the metaverse is built on.” Digital twins can make it easier to incorporate the real world into the virtual one through the existence of current modelling and serve as the bridge between the real and virtual worlds. At a meeting in the metaverse, participants could interact with the digital twin of a construction project. Another example could be a digital twin of a building or location that allows the user or participant to have that experience in the metaverse as if they were actually there.
Per IBM’s definition, digital twins rely on “updated real time data.” The Internet of Things, through sensors and connected devices, applies here to provide that data. Consistent real-time data improves models and their utility because IoT data gives (1) better visibility (2) more accurate predictions and (3) increased communications and documentation. For example, with the above Anheuser-Busch example, IoT devices would need to be used to track physical brewery conditions and sensors and devices to keep track of the supply chain within the digital twin architecture. One of the greatest advantages of IoT and digital twins is the ability to conduct simulations. With IoT sensors and devices feeding continuous updated data on systems, simulations of certain adjustments or even radical changes can be conducted to analyze the effect on and modifications within the digital twin.
Several companies have already gotten started with IoT and digital twins. Recently, Amazon announced the creation of their AWS IoT Twinmaker which facilitates the easy creation of digital twins. Microsoft also offers this through their Azure platform which has already been integrated into various business platforms.
IoT and Future Metaverse(s)
The future of the metaverse is open to many implementations; visionaries see different paths for growth and applications. IoT will be essential to the metaverse through providing sensing and data collection to develop digital twins and metaverse technologies like VR and AR. Currently, popular Metaverse applications are focused on social networking, entertainment, and gaming. Going forward, metaverse applications like that of Anheuser-Busch are more likely to occur, and future applications of IoT and metaverse could facilitate IoT related domains like Smart Cities in modeling, simulation, application development.
For Further Reading:
Digital twins will act as "foundations of the metaverse" and allow people to move between real and virtual spaces
https://www.dezeen.com/2021/07/23/digital-twins-metaverse-david-weir-mccall-epic-games/
Mark in the Metaverse
https://www.theverge.com/22588022/mark-zuckerberg-facebook-ceo-metaverse-interview
What is the Metaverse
https://time.com/6116826/what-is-the-metaverse/
What is the Metaverse exactly?
https://www.wired.com/story/what-is-the-metaverse/
Grayscale Says Metaverse Is a Trillion-Dollar Market Opportunity
https://www.coindesk.com/business/2021/11/25/grayscale-says-metaverse-is-a-trillion-dollar-market-opportunity/
Metaverse Market, By Component (Hardware, Software), By Platform (Desktop, Mobile), By Offerings (Virtual Platforms, Asset Marketplaces, and Others) By Technology (Blockchain, VR & AR, Mixed Reality), By Application, By End-use, and By Region Forecast to 2028
https://www.emergenresearch.com/industry-report/metaverse-market
Cheat Sheet: What are digital Twins?
https://www.ibm.com/blogs/internet-of-things/iot-cheat-sheet-digital-twin/
What is a digital Twin?
https://www.ibm.com/topics/what-is-a-digital-twin
Digital twins and digital twin technology in an industrial context
What is a digital twin and why it's important to IoT
https://www.networkworld.com/article/3280225/what-is-digital-twin-technology-and-why-it-matters.html
AWS introduces IoT TwinMaker, a new service to easily create digital twins
https://techcrunch.com/2021/11/30/aws-introduces-iot-twinmaker-a-new-service-to-easily-create-digital-twins/
AWS Announces AWS IoT TwinMaker
https://www.businesswire.com/news/home/20211130005972/en/AWS-Announces-AWS-IoT-TwinMaker
Digital Twins and IoT
https://www.iotforall.com/how-digital-twins-accelerate-the-growth-of-iot
Journey Through the Metaverse: Digital Twins Are Synchronizing the Physical and Virtual
https://hellofuture.orange.com/en/journey-through-the-metaverse-digital-twins-are-synchronizing-the-physical-and-virtual/
A 22-year old breaks down the Metaverse
https://fortune.com/2021/12/07/how-i-signed-up-metaverse/
The metaverse and the future of work
https://www.computerweekly.com/blog/Quocirca-Insights/The-metaverse-and-the-future-of-work