One of the most fascinating ways technology has changed the world is through different methods of virtual reality. Television and video games were two of the first methods of creating a virtual world.
As video games became even more popular and immersive, things like VR headsets, motion control gaming, and online avatars have expanded what it means to be in virtual reality.
People are now not only interacting with others in virtual reality, but they are also buying real estate and investing in stocks in the metaverse. The metaverse is a virtual reality world that could be an expansion of the internet.
Insurance in the metaverse is something that will need to progress rapidly to keep up with the times. We’ll talk about how metaverse insurance can protect the assets you buy online.
#1 – Virtual Reality Headsets and Video Games Expand Our World
Video games were one of the first examples of what virtual reality could be. Controlling characters on a TV screen with a controller puts you in charge of an avatar in a different world than the one we live in. It’s an escape from reality, allowing the video gamer to do things in the virtual world they might not do in real life.
Many people have used video games throughout their lives to blow off some steam and cope with stress because the games put you in a position of power. You understand you are controlling something that isn’t real, but advanced graphics make it feel tangible. Despite this, there’s still a disconnect between the game and the real world.
Virtual reality headsets have changed the world in many ways. Putting on a VR headset transports the person even deeper into an alternate reality. This is because the images are being displayed directly in front of your eyes rather than on a TV. You can then control your environment by walking, talking, and interacting with virtual reality.
Certain sensors, gyroscopes, and graphics chips allow you to see things in a VR environment and change them based on how you move your eyes or other body parts. And while we’ve focused on the entertainment aspect of VR, psychologists have started using these headsets to help treat patients who have post-traumatic stress disorder (PTSD) or other anxiety disorders.
#2 – Virtual Reality Might Help People With Anxiety
Virtual reality has become a revolutionary way for psychologists to help their patients with burdens like PTSD, obsessive-compulsive disorder (OCD), and addiction. When a patient puts on a VR headset, they can be exposed to stimuli that are anxiety-inducing in the real world. This is a form of exposure therapy.
If someone is struggling with OCD, a psychologist can expose the patient to what is causing them to obsess. For example, many patients with OCD may repeatedly rewash their hands because they have an obsession that makes them feel dirty.
Examples of Virtual Reality Exposure Therapy
Washing your hands in a controlled setting with a headset, seeing they are clean, and then moving on without washing again will show the patient their fear of poor hygiene is unfounded. This is exposure therapy.
You can do this type of therapy without a VR headset, but the virtual reality component is comforting to patients. They can be exposed to what they fear while knowing it isn’t actually real. This will teach them how to react when they come into contact with a trigger in real life.
Someone who has trouble with alcoholism can be exposed to environments that have beer and wine through a VR headset. They can see what it’s like to be in a bar and not be able to have a drink, and the virtual reality component puts less stress on them to avoid drinking.
VR makes it easier for people to go into an actual bar with friends and not drink if they have been exposed to this environment through virtual reality.
#3 – Money-Making Opportunities in the Metaverse
Virtual reality and the metaverse have also given people an opportunity to expand their investment and business ventures beyond what was possible just 10 years ago. Real estate is one of the industries that has been changed forever by the metaverse and VR. Realtors are able to show potential clients their homes through a virtual reality setup.
Buyers can look at homes built exactly how they want them to be through a virtual reality headset. If a customer likes what they see, then real estate organizations can go through with plans to build the home. This creates a much more versatile style of shopping for and building real estate.
There are also homes that can be bought within the metaverse, along with other properties. Celebrities such as Snoop Dogg have gotten in on this trend. The neighborhood in the metaverse where Snoop Dogg has property is far more valuable than an average metaverse neighborhood.
Insurance in the Metaverse
Just like in real life, the metaverse has property that fluctuates in value depending on the person who is investing in it. If you want to invest in metaverse real estate, you’ll also need to get insurance, just like in real life. This will protect you from losses on the real estate you buy in the metaverse.
Insurance companies like State Farm and other big names will continue to evolve and add metaverse insurance to their list of products. State Farm collaborated with iHeartMedia in 2022 as a way to start engaging in the metaverse.
Expansion Through Virtual Reality
The real world will always be where most of our lives happen, but you can see how the increase in technology has allowed us to expand to completely different places and realities. The metaverse is just getting started, and other forms of virtual reality have been used for decades without some of us even noticing.
Industries like real estate, mental health, and insurance have already begun working with virtual reality to propel their business forward. As more companies use this technology, we’ll likely start seeing it expand and grow.
Shawn Laib writes and researches for the insurance comparison site, Clearsurance.com. He wants to help people evolve and embrace virtual reality in their lives.
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