The Food and Dining Industry Enters the Metaverse
What does the metaverse mean for restaurants, and how should they invest in this growing virtual space?
The metaverse as a concept is not new, but the buzz around the trend is, especially within the food service industry. Just the word “metaverse” itself still confuses many. In essence, the metaverse is used to describe online virtual worlds that already exist, like Sandbox, Roblox, and Decentraland, as well as an online future where society will spend more time operating a virtual character in an online universe.
The metaverse concept builds on existing tech like extended reality (XR)—which includes virtual reality (VR), augmented reality (AR) and mixed reality (MR)—and marries it with virtual avatar-based gaming simulations. Facebook’s rebrand to Meta has also led food service brands to ask whether this is a disruption they need to be concerned about or a fad that will fizzle out.
While some brands are jumping into the space by filing for trademarks or creating virtual experiences on different metaverse platforms, other brands are still hesitant to invest and waiting for more consumers to engage with the futuristic technology.