Tech giants have been developing VR (Virtual Reality) and AR (Augmented Reality) headsets for a long time now. Google Glass was publicly released in 2013 as one of the early AR glasses. However, these technologies are not adopted by the public and customers don’t seem to care.
2013 was a long time ago though. Just to remember, 2013 was the year when we added new words “twerk” and “selfie” to the dictionary and welcomed a new royal baby, Prince George.
So, the tech is not ready, people don’t seem to care, so why now?
There are 2 factors:
- The quality of video games is increasing rapidly.
- NFTs (Non-Fungible Tokens) and virtual ownership are the hot new thing as people can earn real money playing games without worrying about a big company taking their assets.
Quite obviously, companies want to own the virtual and augmented reality space, to make more money from users.
Increasing the number of early adopters is key to the success of all new technologies. More users attract more developers who create new products which eventually results in more users and we get the snowball effect. Therefore, using the NFT and crypto trend can be vital for the companies in the space to increase developer motivation. So changing their names, publishing videos and press articles can create FOMO.