What was once something we could only read about in sci-fi books is now here in the real world. Virtual reality is a big and exciting leap in technological innovation. Currently it is just in its toddler phase, making some stumbles and finding its bearings. But as it grows and matures, it has tremendous potential to change our world as we know it.
As virtual reality technologies improve and cost less, it has the potential to completely transform a myriad of industries, thus creating some very interesting investment opportunities.
As the CEO and founder of a virtual reality agency called Anyworld, I have seen firsthand some truly astonishing ways VR has revolutionized countless industries.
In the real estate industry, for example, VR can be used by property developers and architects to bring their classic 2D floorplans into a full 3D room-scale experience. This can give an accurate representation of size, as well as provide a great way to try different interior designs at a fraction of the cost of furniture staging.
Brokers and agents also love this technology because VR allows users to experience a full 360° tour of properties on the market. This drastically cuts down on showing times and is incredibly helpful for showing real estate to international buyers.
VR is also great for brands to create popular events, as people are generally quite interested and drawn to trying out the new technology. Customers leave with a unique experience they are sure to remember and excitedly tell their friends and family about.
The music industry is being revolutionized as well. VR adds a completely new dimension to music video experiences. More and more artists are experimenting with their art in VR and creating mixed reality videos blurring the lines from traditional music videos.
Live streaming in 360° will become the norm for major public events, and consumers will soon demand that their favorite sports, concerts and even their friends’ personal experiences be streamed. This will open up limitless avenues for both broadcasting and content creation companies.
It might even change the way tickets are sold, with people increasingly opting to watch front row seats using VR instead of buying a bad seat in the back row where you can’t see a thing.
Games have a chance to go from being an unhealthy couch potato habit to being regarded as a true sport. We have major league gaming today, but it’s all sedentary PC gaming. In the future, VR games will be more like live sports and people will even get a workout from it. More and more gyms are using VR and AR to make exercise fun.
It seems that nearly every industry wants to take advantage of this cutting-edge technology—even the military is investing in VR to train soldiers more effectively. As we continue to make breakthroughs in the VR world, it will continue to increasingly become a part of everyday life. As a result, the potential for profitability for investors is sky high as companies like Anyworld keep exploring uncharted territory and find new and exciting ways to use it.
Filip Baba is the CEO and Co-Founder of Anyworld, a New York City-based VR agency that creates immersive brand experiences across all virtual reality platforms. Anyworld has also created a platform for one of the largest VR development communities offering educational meetups, free lectures and paid bootcamp courses right in the heart of Manhattan.