The Application of the Metaverse in the Entertainment Industry and Its Commercial Value

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 publics 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 peoples pursuit of higher life quality as well as their rising expectations for the future.