Project 2-Opportunity Analysis

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Done by

Ahmed Ali (h00385652)


Ali Alhawai(H00392076)
Abdulla Mohammed(H00443006)
Dalal Yousuf(H00418760)
Rashied Yousef(H00454080)

Innovation and
entrepreneurship

EDUCATION IN THE
METAVERSE
Prepared for Dr Mercy
Table of Contents

Part 1: Concept and vison.......................................................................................2

2: Generating Knowledge and Awareness:...........................................................5

Part 3 Generating Ideas........................................................................................10

Part 4: Approach to innovation...........................................................................12

Part 5: Limitations................................................................................................14

Part 6: Market Analysis........................................................................................16

Part 7: Customer development............................................................................18

part 8 Competition and Positioning:...................................................................19

Part 9: Business model and lean start-up philosophy........................................21

Part 10: Learning and Adaptation.......................................................................22

Reference list..........................................................................................................23
Part 1: Concept and vison
Ahmed ALMAAZMI
The metaverse age is here, it will soon be as ubiquitous as TikTok and Instagram, which both are
now considered from the Metaverse. As technology evolves, bringing us new immersive and
imaginative worlds, we must adapt how we educate children and equip teachers to meet these
new challenges. When education lags and stays behind technological advancements, technology,
not educators, determines what constitutes an educational opportunity.
Due to the mid/post-pandemic educational context around the world, all teachers and students of
all ages have reached a new level of understanding in dealing with technology and using that to
learn. This means we have learned strategies to cope with the constraints faced in the global
pandemic.

our vision starts by checking with the students and how much they know about ‘Metaverse’. This
can help us find out opportunities and give us a clear guideline on when to include VR-based
tasks like homework, exam etc. They can enhance the communication benefit for language usage
if possible. The current available resources of tech look far from the full ‘Metaverse’, Although
we can look back and see what we have achieved in a short time recently it would make sense, it
is like experiencing a sample of the future or a quick visit to an unknown place.

“Figure describes the four concepts of metaverse in education.”

How can the metaverse help change education in an innovative way?


First, we must determine how the four critical characteristics of the metaverse affect schooling to
answer the main question about our priorities. The technological capabilities connected with
each part of the metaverse for education can give a clear picture of how the metaverse can
influence education. Below we will discuss an example of how the metaverse can help with
education and learning.

Lifelogging

Another key notion in using the metaverse for educational and learning purposes is lifelogging. It
is the technology that allows people and objects to capture, store, and share information and
everyday experiences. What Lifelogging does is basically it focuses on the application of
augmented technology, with black boxes and wearable electronics serving as practical examples
like apple watch and Samsung health application. Now in education, lifelogging can be a way of
emphasizing self-learning opportunities, like teachers can look back on a person's daily activities
and reflect on them. As a result, the metaverse can be a useful instrument for representing and
putting feedback like grades and what are the lessons learned from one's life activities.

“Figure demonstrates an example of lifelogging”

Augmented reality
The construction of a smart environment using location-based technology and networks is what
augmented reality, or AR, is all about. It aids in the creation of a fully digital world that overlays
things based on your preferences. AR can help education in several way like aiding in the visual
study of invisible parts and the faster resolution of difficulties, another thing AR can provide is a
well informative overview of the educational content, lowering the difficulty of reading and
comprehending text. Things like interactive interactions such as reading, and writing have the
potential to generate a variety of deep, engaging experiences that could benefit several majors.
“The picture shows how an interactive session could be conducted in the medical major as
an example.”
Miror world
The mirror world, which could provide immersive virtual learning settings, is another important
component in solving "How will the metaverse alter education?"Mirror worlds may be useful in
overcoming spatial and physical barriers to learning and education. Online video conferencing
systems, for example, can be used to create virtual mirror of the worlds for whenever you there's
a real time class.

Virtual reality:
It simply refers to a metaverse that can simulate the inner worlds. Virtual reality can be thought
of as a digital space created by combining digital data from avatar interactions with the
environment. Virtual reality can aid educational developments by allowing for a whole virtual
interactive activity in addition to practical demonstrations in digital contexts. In the actual world,
a risk management training course on fire control, for example, can be pricey. A virtual reality
simulation of firefighting training, on the other hand, can be a cost-effective solution.

“The metaverse is defined as a digital universe that can be mostly accessed through virtual
reality. Not only will it involve entire VR or virtual reality spaces, it will also allow a layer
of digital information to be overlaid on to the real world.
Ali Alhawai
2.Generating Knowledge and Awareness:
2.1 Initiated knowledge
When it comes to metaverse it is really an innovative and futuristic technology as it sounds.
Metaverse. I still remember the first time I have heard this term and topic. In December 2021 I
was
organizing
the Global
distributed
summit -
Abu-Dhabi,
where they
were
discussing
the future of
metaverse
world in
various
sectors and
raising
knowledge
towards
metaverse.

This topic came back to my mind when I faced attendance issue due to my health condition.
Being unable to be in class due to location limitation. made me research more about the
metaverse world and its ability to provide an innovative solution towards any educational
barriers that we might face. Attending a related summit is not enough knowledge to suggest an
innovative product. By Conducting in depth research, I have maximized my knowledge about the
metaverse and how it can be applied in the educational level.
2.2Expanding our knowledge

Metaverse refer to digital spaces that portray actuality using virtual reality and, augmented
reality and mixed reality into our daily lives, which change some industries fundamentally,
including higher education. Which in means a student can have a full real-life university or high
school experience just as he might have in real life but while sitting at home. It’s not just about
wearing a VR, but even using laptop or the smart screen or
even demonstrating an augmented object. This makes
metaverse university not just attending from home but
enhances the student’s experience.

“With the new normal in higher education, Metaverse


presents great opportunities for enhanced learning
experiences because virtual, augmented and mixed
realities bring simulated experiences close to real-life
engagements.” ALABI (2022) .

As we can observe this is a great opportunity, but we need to assess people’s knowledge and
feelings towards metaverse by conducting a survey. The survey will help us to assess people
awareness and acceptance towards such a futuristic solution which help us to know if there will
be user acceptance
which is a critical
thing for any product
or service.

2.3 METAVERSE
SURVEY

DEMOGRAPHICS

Our survey consisted of 25 responses. Males had the highest rate of response, with a 66% of
the response rate. On the other hand, females had 44% of the response rate.

Surprisingly we only
had 2 Age level who
took the survey,
although the survey was
randomly sent to all age
groups. the highest
response

percentage was for the 18 to 24 years old with a dominant percentage of 80%.
The second highest age group of participants with an age of 25-34 with a response rate of
20%.

2.4 METAVERSE SURVEY GOALS & Answers


Our survey aims to generate more knowledge about our potential customers and the student’s
opinion about the metaverse. Focusing on 3 goals to be derived from the survey: assessing
people’s awareness about the Metaverse, understanding student’s lifestyle, and lastly their
mentalities and perspectives about the modern education and its impact. The survey consisted of
a yes or no question, and 5 Likert scale-based questions which is best used to capture customer’s
perspectives and feelings.
The first question was assessing the survey takers about the metaverse world and the topic.
Where most of the survey respondents are aware about the metaverse topic, with a percentage of
80%.

On the other hand, we had 20% of the responders were not aware about the topic. For the
previous reason we had a brief explanation prior the survey page and in the messages that they
received explaining what is metaverse.

Dalal Yousef:

Part 3 Generating Ideas


We have brainstormed a new innovative solution of education in the metaverse, the idea is for to
have fun and socialize with studies by having a VR called virtual reality device given to the
student teachers intention use during the course. The problem Students have traditionally been
recognized for their accomplishments in
the school environment, which often
necessitates them spending a specific
amount of time in that institution. For
some, getting to school or college in
issue is challenging, and life can get in
the way of the institution's schedule. The
Metaverse would like to introduce the
concept of 'transparent accreditation,'
which reports competency rather than
hours or location. This is a more efficient
method of examining students' learning
styles, skills and expertise, and specific
requirements. Transparent accreditation
recognizes that every student learns differently and, as a result, has a variable concentration span.
The traditional classroom setting does not work for all of us, and with the rising use of tech,
people have found it to be less engaging.
Attribute analysis is a powerful tool used to identify competitors’ positions within a market and a
critical analysis when positioning a product, assistance resolve be a VR called virtual reality, it
the device work by putting on the eyes, but will be available VR is for student and teachers
include two colors black and white are lightweight to make the learner satisfied and protection
for the visions when using on the class.
gap analysis, this analysis is used to determine whether a company is meeting expectations and
using its resources effectively, so there was a gap when it came to innovation, wearing the VR
for an amount of the blue light that can make vision weak, to protect students and teachers we
put covers that can save for eyes plus avoid the blue light when the blue light comes to VR, the
surface it will prevent and get satisfied for the learners.

Current education system Desired metaverse system

The conversion process to breach the gap


Part 4: Approach to innovation
Ahmed Almaazmi
Innovation should not be considered as a separate entity
from the rest of our operations. Instead, we examine the
market and determine how innovation may give value to
our targeted customers to propel the idea for education
forward company forward. So, we ask ourselves why is it
so difficult to develop and retain an innovative capacity for
an idea? The issue is a failure to identify an innovation
strategy that integrates innovation initiatives with the entire
business plan, not only a failure to execute. In our case the
innovation strategy must include how this desired concept
of innovation will provide value to potential customers like
students etc., how the initiators of this technology will
profit from that value, and what types of innovations to
pursue. Below we will dive in deep to explore the details of
the making of the metaverse product/service and how it
creates value for both us and the customers.

we believe that constant growth of the metaverse and technological advancement has made us
consider the metaverse education system, the integration of education into the known metaverse
to be looked as a digital learning model to be refined to further enhance the whole experience
and boost the value for students in the education sector. Current events of the pandemic created
the required gap of wanting to convert the education experience to be virtual through the
metaverse. Something like a virtual campus is a kind of metaverse applied to higher education in
colleges. The interactions and atmosphere of a real campus in a digital learning and student
environment will be enabled through that approach.
“This figure
demonstrates the
idea of metaverse
education through
VR.
The metaverse has the potential to alter how academic staff and university education are
monetized.
A university lecture used to be presented live, by a genuine lecturer, to a small group of students
a single commodity. This has altered with the development of virtual worlds like Zoom. A
college teacher now teaches in both approaches which are a live audience of students and a
virtual audience of students together. so, when we think about creating a service and product
that be purchased, we look at both the in-person lecture and the virtual presentation as
commodities that can be sold and purchased, resulting in increased production and profitability.
the previous approach of education made it to be a single lecture could now be available in a
variety of formats in the metaverse.
“The figure demonstrates an imagination image of the possible business like university in
the metaverse through an augmented reality and not physical”

Abdulla Mohammed Khalaf(H00443006)

Part 5: Limitations
We have researched the topic and made out some limitations that the technology might face, we
wanted to explore them in that context to help better understand how to avoid.

1. Distractions: The metaverse can be a very distracting place for students because students
will likely engage in activities rather than taking their online lectures. These behaviors can
range from jovial pranks to sinister actions that may always require additional supervision.
The drawback of using the metaverse for teaching students is that they will waste their time
playing games, surfing the net, watching videos, etc. Students who are not serious about their
studies can disturb the class and disrupt the learning process for other students.

2. Bullying: It was found in initial tests of the metaverse that members of the public would
harass or bully individuals with whom they did not agree with or may have had a
different opinion with. Almost every person is sharing his or her photos on social media,
but the biggest drawback of this is the abusive comments that people type in response to
those photos. Currently online bullying and harassment runs blatant on social media, and
this has led to a sharp incline in the number of children and teens to experience extreme
depression while some have even committed suicide. Racial harassment and verbal
attacks that use derogatory words or slurs are also a major problem on various social
media sights. It is obvious that these problems will also manifest in the metaverse as well
because people face no repercussions for their actions. The perpetrators hide behind their
self-created online identities and never have to face their targets in the real world.
Companies that are running social media applications are trying to restrict online
harassment and delete harmful comments, but the perpetrators are also relentless.

3. Technological hurdles: While it is easy to list the benefits of learning on an online platform,
we must remember that not everyone may be lucky enough to participate in it. Many
developing countries have a very weak internet and electrical infrastructure that hinders
physical and online classes. Connecting to the metaverse will obviously require a strong and
uninterrupted connection and that is a global challenge. Large applications such as Facebook
and WhatsApp are not immune to failures and crashes and the metaverse will be susceptible
to those problems. Below we will outline the five different hurdles in terms of using VR and
AR.
Abdulla Mohammed Khalaf(H00443006)

Part 6: Market Analysis


The use of the metaverse for educational purposes will target teens, young adults and all people
who want to seek higher education from the comfort of their homes. The market is very
attractive because the metaverse is a virtual 3D world and it can be used for infinite educational
purposes such as using complex 3D models to teach medicine, engineering, training how to use
complicated machinery, etc. This was never possible on regular video calling software programs.

The research for this market can be done using social media such as Tik Tok, Facebook,
Instagram through surveys for online users. These surveys have to be strategically designed so
that they contain only a single or small number of questions so that users can quickly tap on the
answers and continue with what they were doing. If the survey has too many questions, then the
number of responses from users will decrease significantly.
While there is no past sales data for the metaverse, the drastic rise in the sales of video calling
programs over the past years has shown a huge demand globally. The Covid 19 pandemic was
the reason why the whole world started using programs such as Zoom worldwide for work and
educational purposes. As the pandemic has not fully ended, there is a high chance that the
metaverse can also use this opportunity to bring in as many students and faculty together on their
platform.

The potential growth for the metaverse can be momentous because of the many advantages of
online learning. The metaverse and its features can bring many prospects for the students and
teachers. Users can design their own avatars for the metaverse and thus be useful in representing
an individual’s personality and culture. Soon the metaverse will be integrated with other social
media applications and so the possibilities of its uses are endless. It is also possible that schools
and universities begin their own classes to the metaverse. This means that soon, students will be
graduating from the metaverse.
Rashed Yousef

Part 7: Customer development

Our targeted customers are people who require education. We are providing education with a new
experience which is an education in the metaverse, customers will be able to attend class from home
using a VR headset and it will be like they are attending in real life. People who use VR are increasing
around the world, which makes it easier for us to spread our product globally.

Graph shows the


increase in VR and AR
users.

Customers today are


getting education
through the normal
means, which is school
and then college. We
also are providing that
but using a virtual
experience which is
cheaper and less stressful for the students.
We can reach our customers using many ways. For example, we will create a website which will
have all the information about us and the education we provide. We can also have social media
accounts to show what our customers experience using our service. We will also advertise using
traditional ways, which is using billboards, on the radio, and get social media influencers to try
and share their experience about our product. We can also advertise on our social media accounts
and spread our service to many people.
Dalal Yousef

part 8 Competition and Positioning:


the competition is making into 3d lesson with characters in the lesson, it will be the many
animations industry will be working by making as the virtual design which it takes a lot of effort
to create because it takes some edit by much software’s to apply the processes

people who are working on the medical and engineering because they work in real life with this
invention will help them by practicing and applying this process it will give the experience on
work placement, A quarter of other companies are already producing the technology and
software that will power the next generation of virtual contact, which Wall Street believes will be
worth $1 trillion. Google, Microsoft, Apple, Valve, and more corporations inventing solutions
for work and communication.

As investors rush the market, smaller firms, there is a disconnect between branding theory and
practice. When objected to textbook-based view and traditional written assignments, avatar-
based virtual world education is participatory and delivers a decadent immersive setting.
Allowing students to experience real repercussions of theoretically driven branding initiatives
and activities allows for a role-playing simulation of the whole branding process.
However, there is a problem of some sort. Second Life, a virtual environment founded over two
decades ago, serves as a warning. It peaked in 2007 with over 1 million users worldwide before
dying away, yet it remains. One issue was the steep learning curve, and another was the
difficulty of developing a mobile version.

We should be ecstatic to develop experiences that are both amazing and stickier than ever before
at any step in the customer experience, from acquisition to involvement, transaction, and
customer support. we want to be able to make an easy transition from the actual educational
environment to the virtual world at some point in the future which would be our nest step
forward.
Rashed Yousef

Part 9: Business model and lean start-up philosophy

Because education is a continuous thing, as the years go on, our business will become more and more
profitable as the younger generation get older and choose metaverse education, each year more and more
people get older, so our customers increase, and after our first 3-5 years which hopefully will be
successful, we will gain more and more customers which will increase our profits exponentially. We also
plan to get money from investors that are willing to invest in our business.

There are some major risks involved in opening education in the meta verse, first of all , enrollment risks,
obviously our business will be depended on customers like every other business, but we have to have
steady enrollment to gain profits, which over the years as our reputation gets better, more people will join.
In terms of reputation risks, just like every other business, our reputation must be good, that depends on
the media and people’s perspectives, having bad reputation can lead to loss of enrollments, loss of
funding, which will lead to the inevitable downfall of the institution.
Ali Alhawai

Part 10: Learning and Adaptation

Prior starting this project we thought that it was a futuristic idea that we came out with. The previous
sentence doesn’t mean that the metaverse is a non-existing thing, but the idea of a university in this
world sounded crazy and wild at the beginning. When we started researching day by day, we knew that
we were on the right track. Education via the metaverse is real and being worked on in real life. Not only
it was students dreams for their problems it was a common need and essence for most the students,
which was proved by the survey. Furthermore, and by researching we found out that the metaverse is
not only enabling students to get a full life learning experience from there homes, but a successful
opportunity and future investment. We learned that the investment in the metaverse world means no
lost whatsoever as the land in the metaverse increases yearly by more than 150%. This means that even
if the educational institute didn’t operate well a profit can be generated in the worst-case scenario from
the land can be sold as an NFT. Furthermore, we had analyzed the market opportunities and
competition in order to capture the best moment to enter the market and stabilize our positioning for
this great futuristic opportunity idea. The metaverse University will cause the paradigm shift in the
educational modern way such the existing online learning which makes it a real opportunity to invest
and create.
Reference list

 Howell, J. (2022, February 15). Metaverse for Education – How will the metaverse
change education? 101 Blockchains. https://101blockchains.com/metaverse-for-
education/
 Hirsh-Pasek, K., Zosh, J. M., Hadani, H. S., Golinkoff, R. M., Clark, K., Donohue, C., &
Wartella, E. (2022, March 9). A whole new world: Education meets the metaverse.
Brookings. Retrieved March 15, 2022, from https://www.brookings.edu/research/a-
whole-new-world-education-meets-the-metaverse/
 Metaverse for education - how will the metaverse change education? 101 Blockchains.
(2022, February 15). Retrieved March 15, 2022, from
https://101blockchains.com/metaverse-for-education/
 The Metaverse in Education. (2022, February 16). Https://Oeb.Global/Oeb-Insights/the-
Metaverse-in-Education/. https://oeb.global/oeb-insights/the-metaverse-in-education/
 UnfoldLabs. (2019, June 21). 5 Hurdles for Virtual Reality in 2018 - UnfoldLabs.
Medium. https://unfoldlabs.medium.com/5-hurdles-for-virtual-reality-in-2018-
c542d27b12cc
 Ribeiro, R. (2021, November 16). “Metaverse” and the educational potential | World of
Better Learning. World of Better Learning | Cambridge University Press.
https://www.cambridge.org/elt/blog/2021/11/15/metaverse-educational-potential/
 Dishman, L. (2022, February 10). The metaverse can provide a whole new opportunity
for education. Here’s what to consider. Fast Company.
https://www.fastcompany.com/90718919/the-metaverse-can-provide-a-whole-new-
opportunity-for-education-heres-what-to-consider

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