5 Ways for Your Business to Get Involved in the Metaverse
Jon Radoff suggested the seven layers of the Metaverse with each layer serving to support the development of the metaverse.
If this whole metaverse thing is confusing to you, you’re not alone. For most of us, it is an abstract concept that’s difficult to comprehend if you’re not an avid gamer. Put simply, the metaverse includes any digital experience on the internet that is persistent, immersive, three-dimensional (3D), and virtual, as in, not happening in the physical world (HBR.org). We’ve all heard of AR and VR at this point (if you want to brush up on those two concepts, check out our previous blog post about them!) and the metaverse is just virtual reality on steroids.
The company Oculus, bought by Facebook in 2014, is a leading figure in the VR headset industry. The goal of the metaverse and the VR used in it is to portray billions of tiny details at every moment, from blooming flowers to minute facial expressions, and to be an experience as sensory-packed as our everyday lives. This many details without glitching though, is still a distant dream for Oculus and Meta, aka Facebook.
So, as we learn more about this new “world,” let us offer some solutions that will hopefully incite in you some imaginative ideas around how to get your business on the virtual boat and add some revenue while you’re at it!
NFTS -
I am sure you’re tired of hearing about NFTs but the truth of the matter is, that they are the equivalent of physical artwork but in virtual form. So, just as you would either create artwork or branding in our physical world, NFTs allow you to create and trade it in the virtual world. As a company you can build a community around your business, offer incentives, and sell NFTs based off those things.
Real Estate -
Yep, that’s right, you can purchase real estate in the metaverse. Just like regular real estate, the owner can choose to rent the land, sell, or build on their digital property! Japanese video game maker Atari recently purchased 20 parcels of digital land in Decentraland and created its very own crypto casino. Using its own native ERC20-based Atari token, gamblers can place bets and receive winnings in crypto tax-free. Atari has also announced plans to launch its own virtual hotel complex in 2022. How genius (and mind boggling) is this?! This digitial real estate is purchased through NFTs (ughhh right?) and can be done through any of the existing NFT marketplaces.
Invest in the Ecosystem -
Invest in technologies that are building the metaverse. A few options are (we are not financial advisors so please do your own research):
Meta Platforms Inc (FB)
Roblox (RBLX) - if you have a child you know what this is!
Boeing (BA) - Apparently the plane maker is planning to create a proprietary digital environment where its human, computer and robot employees can communicate and collaborate seamlessly across the world.
Microsoft (MSFT) - The company planned to release Mesh for Microsoft Teams in 2022, with the key feature being holoportation which would allow users to access a digital environment with a VR headset. Basically, it allows you to have a virtual meeting, in a virtual environment, as a digital lifelike representation of yourself. Apparently in February though, Microsoft released a statement saying they were ending efforts on this project but it seems their commitment to the metaverse is great and might be something to keep tabs on.
Go Virtual -
Just about everything people do in real life, people are going to be doing in the metaverse. Shopping, meeting about taxes, going to see shows. So, if your company is a retail store consider opening a location in. the metaverse. If you are a teacher in the real world, consider holding classes in a school in the metaverse. If you are a staffing agency, set up a branch helping businesses staff their metaverse locations! It sounds crazy, but it’s happening! Maybe Cocoon will open a coworking space in the metaverse! Stay tuned!
Accept Bitcoin as Payment -
Companies like Microsoft and PayPal have been accepting it to some extent for years. In recent years, less techy companies have started coming online: Overstock, Whole Foods, Home Depot and the NBA, to name a few (Nerd Wallet).
Accepting Bitcoin not only makes it more convenient for some customers to buy from but it also gets you some always needed PR!
If you found this post interesting, please share it with a friend and comment below! Thanks for reading!
