The Metaverse has been looming on the digital horizon for some time, and Veriff has been preparing for our role in helping keep everyone safe while they live their lives online. Veriff becomes first IDV solution provider to build trust and provide safety in new online environment.
As the world moves towards building a more immersive digital reality — as we build the architecture for the metaverse — Veriff is at the forefront of making our digital world safer. The company has just released a new suite of identity verification solutions built specifically for the metaverse. Veriff will be the only identity verification (IDV) solution provider with tools readily available to prioritize the safety of users in this new digital realm.
With companies like Facebook and Roblox staking their claim inside the metaverse, it’s important that users and customers are aware of what is being built. The “metaverse” is an online world which utilizes augmented and virtual reality to create a hyper-realistic world that exists solely online.
The Metaverse has been a long time coming for a lot of businesses, even though it's just now become a buzzword among the tech community. Roblox CEO David Baszucki told CNBC that their business plan for the last 17 years always included Metaverse ideation and creation, making spaces for gamers and developers.
The metaverse market may reach $783.3 billion in 2024, and the entire metaverse market cap may reach 2.7 times that of just gaming software, services and advertising revenues. This makes the establishment of digital trust and transparency critical for business leaders as well as everyday users.
Through its AI-powered, video-first approach, Veriff is able to prevent more fraud than any other industry player. Secure IDV enables businesses to unlock the full potential of the virtual world and to build trust with their users. Veriff’s solution can discard bots and block sold accounts so that metaverse users can be certain that they are interacting with real people within the digital environment. IDV also sets higher user accountability and helps to prevent online bullying.
Following the age appropriate design code, Veriff’s technology helps to verify the identities of metaverse users while also protecting underage users, especially young children, from inappropriate or age restricted content or from people pretending to be someone else online.
“We see more people enjoying the metaverse, especially youngsters, and therefore establishing stronger digital trust at the very beginning of the journey will be paramount to its overall success,” said Janer Gorohhov, Veriff co-founder and CPO. “As more metaverse-based companies work to self-regulate this new digital space, Veriff has already kicked off first use cases with top metaverse companies to ensure safety on their platforms. It is crucial to invest in additional measures like identity verification including age verification but also parent and guardian verification to make the space more transparent and secure for all users.”
As the uses of the Metaverse become clear, so does Veriff’s role in keeping it safe. Veriff can:
You can learn more on our Metaverse industry page.