What business opportunities does the metaverse offer
The considered internet of the future attracts a lot of attention, but at the same time it provokes doubts. Surely you have ever thought about what business opportunities the metaverse offers. Well in Hispanic Entrepreneurs We intend to clarify these doubts.
What is the metaverse?
This science fiction concept is a network of virtual environments or virtual world. Through this people can interact with each other and with digital objects. They do this while operating a series of devices that appear to be interacting with their virtual representations or avatars. It is a kind of immersive virtual reality.
Although it is not a reality, companies like Facebook have planned to use it. Your goal is to make it the foundation for many of your online activities. Even her name change to Meta has to do with this plan. Also bet on this Google, Nvidia and Microsoft.
The metaverse has 3 key aspects: presence, standardization and interoperability. Presence has to do with the feeling of being in a virtual space with others, enhancing interaction. It is achieved with virtual reality.
Interoperability is being able to travel between virtual spaces with avatars and other digital elements. An example of this is blockchain technologies that make it possible to transfer digital goods across digital borders.
Whereas, standardization enables interoperability and services in the metaverse. As occurs in media technologies involving the printing press to text messages.
If the metaverse replaces the internet, this fact will be very important for society and the economy.. All the immersive 3D media technologies and virtual reality will be present at work and play. The idea is to have full freedom for creation by bringing the physical and virtual world closer together.
What business opportunities does the metaverse offer
The metaverse is known more for the elements and aesthetics of video games, but it goes much further. It is proposed to reproduce dynamics such as working, attending concerts or shopping. There are already universities, banks, casinos, shops and many investment opportunities in this parallel reality.
You could take advantage of this virtual world through:
1- Games and entertainment
These are the main point of business that the multiverse would offer. It will make them more immersive and real. They will develop from chess to car racing. There will be more innovation and with this more consumers opening a great platform for brands.
2-Advertising
If you have a physical or online business you can use it to generate advertising as you would on Facebook. The brands will have the opportunity to be visible in the different worlds of the metaverse.
3-Item Shop
Within the metaverse it is possible to create a shop to sell items. You must first buy a plot of land to set up a business selling NFTs. The latter is a non-fungible token (unit of value) that represents a virtual piece that you can put up for sale.
It is similar to having a physical property, but these are for the avatars of this virtual world. There are all kinds of NFT, clothing, art, music, etc. There are great possibilities for brands.
A few months ago one of the most popular Gucci bags was sold in the Roblox universe for more than 4 thousand dollars. It should be noted that the physical model has a value of 2.450 dollars. This video game is one of the most similar to what the Meta metaverse proposes.
4-Purchase of tokens
The currency of most metaverses is the token with which users exchange NFTs and other items. Its value varies, so if you buy at a low price and then take advantage of its increase, you are already making a profit. It is similar to what happens with cryptocurrencies that would exchange for real money.
5-Purchase and sale of real estate
It is also feasible to buy properties such as land or houses. It is a form of investment because these goods are sold at a higher price if their value increases. Likewise, it can be used in other types of businesses, for example, a store.
6-Casino
Investing in casinos generates profit in different ways. One is to build one or invest in existing ones. Buying a share of a blackjack table entitles you to receive a share of any winnings you make.
7- Events and shows
The virtual world has become the favorite option for holding events that until recently were only face-to-face. As is already happening on the different platforms in the metaverse, the window will open for the celebration of concerts and exhibitions. These will be tailored to a specific environment. So ticket sales for these shows will be a huge industry.
Steps have already been taken to materialize this alternative with the performances of Ariana Grande, Travis Scott or Marshmello. These singers were featured within the video game Fornite.
Meanwhile, Walt Disney announced that they are already preparing to make the leap to virtual reality in their theme parks.
8- Office and virtual presence
With the imposition of remote work due to the pandemic, ideas such as Infinite Office, the work site proposed by Facebook, have emerged. They also propose through Microsoft Teams to create a metaverse for companies. Through these they will offer virtual spaces for events, meetings and networking.
It will go beyond video calls and online meetings. It will be simulated that they are all in an office with the avatars to be able to interact.
According to experts, the metaverse will improve productivity, anticipate results and save costs. But there is still a long way to go to see it 100% materialized.