The potential benefits of leveraging augmented reality (AR) and virtual reality (VR) in the metaverse and its implications
In particular, trading is an ideal use case for these evolving paradigms where rich data sets and complex products provide opportunities to leverage technology, such as augmented reality to support daily business, says Talal Al Ajmi, founder and CEO of VI Markets.
He adds: “The benefits of leveraging augmented reality (AR) and virtual reality (VR) in the metaverse include the ability to generate opportunities through leading-edge technology and the reduction of operating costs.
“Specifically, within trading, key use cases are driven by AR/VR’s abilities to bolster an unconstrained environment to visualise data, for example as providing a medium to easily recognise changes and patterns; collaborate with clients and interact with counterparties, all in a dynamic and real-time system.”
The potential benefits from leveraging AR/VR, as described above, can reduce the costs to an overall business infrastructure by eliminating multiple monitors, prime real estate, advanced wiring, systematic cooling, and so on.
As market data providers evolve their products, Al Ajmi points out that it will be important for them to build application programming interfaces (APIs) that are tailored for consuming their data via different AR/VR solutions. “This includes providing value-add services that support analysing through research and market data in a seamless manner,” he explains.
The metaverse economy and the transformation of forex trading through VR will be an immersive experience
According to Al Ajmi, the metaverse will allow traders to trade and will transform forex in a way where no borders, strict regulations, or trade barriers will stop anyone from any country from trading in the metaverse.
“The metaverse economy would be based on blockchain technology and related asset classes like NFTs and crypto,” he explains, and this means businesses should expect a future where they can set up their VR stores by buying property as NFTs and using crypto to price product catalogues.
Businesses can also use NFTs to sell and buy virtual assets in the metaverse. He elaborates: “Non-fungible tokens, often known as NFTs, are a type of digital asset that grants the buyer a type of ownership license for virtual goods. Digital artworks, GIFs, memes, and Tweets have all been sold as NFTs in the past.”
Because of this huge demand for high-value NFTs, Al Ajmi explains that businesses may find investment opportunities in the metaverse.
VI Markets is aligned with providing education to its clients, while the metaverse will provide VR-based learning to businesses and brokers
According to Al Ajmi, the main mission and vision of VI Markets is educating and spreading awareness about trading online with staff trained to provide customer service unparalleled elsewhere.
In this context, the metaverse, reveals Al Ajmi, could revolutionise training and skills development, radically compressing the time needed to develop and acquire new skills. “AI-enabled digital coaches could be on-hand to assist in employee training and with career advice.”
Meta-reality will alter customer interactions, one of the most significant aspects of a brokerage. To adapt to this shift moving forward, VI Markets might alter some customer interaction for some time. “However, I don’t think it will do that for long time as people will get used to the meta-world and acquire the skills of interaction required,” he says.
Key advantages to brokers trading in the metaverse
The benefits of trading in the metaverse, says Al Ajmi, include the ability to generate opportunities through leading-edge technology and the reduction of operating cost.
“Specifically, within trading, key use cases are driven by AR/VR’s abilities to boost an unconstrained environment to visualise data, for example, providing a medium to easily recognise changes and patterns; co-operate with clients and interact with counterparties, all in a dynamic and real-time system,” he says.
The future of trading in the metaverse
Currently, VI Markets offer Copy Trading, a unique, patented technology which automatically copies trading portfolio performance for individuals who want to link their accounts with a specific trader.
This new technology eases the process of managing one’s portfolio, and with Copy Trading, many traders can start joining the social trading revolution, and connect with other traders, discuss different strategies, copy or even mirror their trades.
Another unique offering by VI markets is One Connect app, which Al Ajmi points out handles it all in a safe and secure environment and keeps all your execution in one place whilst experiencing all the exceptional trading tools it offers.
In the future, Al Ajmi says that users will be exposed to a value creation platform which will allow users to optimise, upgrade and engage in real life investment activities in virtual spaces.
“They will have more opportunities to trade on a larger scale and use AI as form of an advantage to ease the time and the effort,” he says. “Also, the AI will mine huge amounts of data from exchanges and coin prices which may have been accumulated over a long period of time and analyse it to find complex patterns that the human being cannot find.”
VI Markets is walking in these footsteps and planning to have metaverse lands in the coming future.
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