10 Lucrative Metaverse Opportunities That Can Help Your Business

August 16, 2022

10 Lucrative Metaverse Opportunities That Can Help Your Business

Metaverse is a smooth and logical integration of our digital and natural lives combined in a virtual, single society where you can work, rest, play, interact and transact. Though it is still in a developing stage, with no one around competing as such, businesses are likely to benefit from the opportunities it provides.

It is critical to note that there is not just one virtual world. Many other worlds are developing to let you expand and deepen your social connections digitally. This is accomplished by involving a 3-dimensional immersive layer in the web that will lead to the development of more natural and realistic experiences. You might be interested to learn that Metaverse possesses the potential to offer you the opportunity to easily and conveniently access vital services, commodities as well as experiences in the comfort of your office or home.

This metaverse world will open up an array of opportunities for B2B or business-to-business transactions. Keep reading this article to learn more about how your business can benefit from the opportunities that Metaverse offers to your industry.

The Metaverse for your business

The Metaverse for your business!

The Metaverse for business stands for the construction and deployment of 3D environments for businesses, like those used mostly for recruiting, staff training, social events, or customer and client interactions. Talking of an enterprise metaverse, it can be easily adopted and controlled by organizations for meeting their requirements. This means they can effectively control their Metaverse like they run their own website. As per research, employees are keen to take advantage of all the benefits offered by Metaverse.

The covid-19 pandemic has left its effect on the global civilization that has, in turn, contributed to a significant shift in the mood of employees towards the world of Metaverse. It has permanently imposed a threat on the 9-5 onsite employment module. While during this phase, the work from home module has been adopted, even after the end of the pandemic, employees are not ready to return to work at the office or onsite. Talking of Metaverse, it plays an important part here in keeping the workers interested while at the same time assisting in solving the productivity challenges linked with the concept of remote hiring, like the exhaustion of video conferencing

The Role of AR and VR

The Role of AR and VR

With Virtual Reality (VR) and Augmented Reality (AR) devices, you can establish an interactive online ecosystem for the specialized training courses, for delivery of virtual assessments and obstacles that the participants need to traverse to pass this kind of training program. Most essentially, this kind of training program can be offered in any industry along with the AI avatar bots like the virtual patients or consumers employed as a part of an engaging and big learning experience.

Various 3D ecosystems can be developed to meet the enterprises’ unique demands, from training to development to hosting events online. Businesses can host and participate in the meetings, establish some breakout sections, carry on with team development sessions, effectively attend some corporate partnership calls, and construct and advertise webinars using the 3D event platforms.

As of the Metaverse, you can use it for hosting or even linking to any kind of online photos, materials, videos, or PDFs the same way as the websites available on the internet. Now, within the Metaverse, the avatars act just like a personal identity in an environment whereby contacting others is possible, along with the ergonomics of the environment resembling the location or workplace where the event is happening or is likely to happen. In short, the Metaverse can interact with and modify ordinary and real working practices.

Top 10 Profitable Metaverse Opportunities

The Metaverse is rightly referred to as an enticing virtual world whereby individuals can purchase goods, play, or even get connected to friends and family. It is a combination of augmented and virtual reality and gives access to interactive video. It won’t be inaccurate to state that the Metaverse is going to dramatically alter how you interact with and use technology, despite the fact that it is currently a difficult concept that necessitates a good description.

While few businesses like Nike, Disney, and Gucci have joined this world already, others are still in a debate to estimate whether or not being a participant in this world will be a better one. Here are some of the most advantageous metaverse opportunities.

Events taking place virtually in Metaverse

1. Events taking place virtually in Metaverse

A common thing that has seen huge growing popularity in the last few years is virtual events. The use of immersive metaverse experiences and virtual planning of events may help build the events likely to make the attendees feel as if they are present in the event in real.

Metaverse possesses everything that can give you a real-time experience. When talking about virtual events, especially famous ones such as Fortnite, you can get the actual feel of a concert. Popular artists such as Ariana Grande and Travis Scott have performed in Fortnite concerts that were held virtually. The accessibility of Metaverse to create virtual event commercial perspective is the prime benefit. And do you know how? You can grab your ticket to one of these concerts without even bothering about your primary locations. In this manner, businesses can make a profit since they can gain access to a large audience owing to this kind of flexibility.

2. The benefits of immersive learning adventures

Immersive learning scopes with Metaverse will boost medical education, higher education, and military applications alongside many other sectors. Corporations do not need to build any kind of infrastructure to offer an immersive learning experience as it is already in existence in Metaverse. Digital headgear and VR rooms offer several layers of digital information about the real world and are 2 instances of the metaverse usage in the sphere of education.

Learning with the help of virtual reality is likely to assist the students in engaging with various experiences and ideologies. At the same time, the Metaverse can also aid in the discovery of different issues alongside facilitating curricular modifications.

The contribution of Metaverse in the field of Fashion

3. The contribution of Metaverse in the field of Fashion

The fashion or the retail industry is yet another vast area for conducting tests on the commercial potential of Metaverse. The virtual shopping experiences that are based on Metaverse can highly benefit retail businesses. In addition, it can also be a good place where businesses can introduce customers to new items. So are you thinking about visiting a fashion boutique in Metaverse? Go ahead as a digital avatar. You may pursue the shops and items they have just as you can in reality.

You can also try out the dresses or items on your digital avatar to get an idea of how you might look wearing the apparel. This can be rightly referred to as the digital trial room. Further, the combination of retail business with Metaverse offers it a framework for growing complex and new goods.

4. Promoting brotherhood and cooperation among the employees

Businesses can use the Metaverse to offer augmented and virtual workplaces. Alongside, the Metaverse can even boost the activities meant for developing engagement among the employees in a workplace to strengthen their bond and connection. This, in turn, is likely to stimulate cooperation and fellow feeling.

The Metaverse can prove itself as a very productive platform for enhancing employee cooperation. For instance, Microsoft is a good example of engaging the Metaverse to modify workplaces. You will get to see that the Microsoft Mesh expands quickly into a virtual workplace scenario. Here, users can grab the advantage of all related Microsoft services from one location.

5. Grant in the Sales services of the Non-Fungible tokens

This is a very popular business concept of Metaverse. The buyers acquired the NFTs in the most prevalent format, while the most prominent creators successfully sold their outstanding creations in Metaverse at auctions. Artists could easily access a Metaverse gallery followed by selling their NFTs to the customers who need the 3D models of their distinctive creations.

6. Advertising

The use of VR or virtual reality for the purpose of advertising is an amazing concept. Since VR forms offer a very immersive experience, they will likely make the advertising even more compelling.

The photographic methods applied in digital cinematography, augmented reality, interactive programming, interface design, and Virtual Reality offer experiences.

The Billboards in the Metaverse Cryptovoxels are usually charged at the rate of 1 ETH per week. By adhering to these methods, individuals all around the globe may get together to produce different commercials. Companies might adhere to the use of blockchain technology to experiment with the advertising packages and rent out the billboards in Metaverse to provide faster and more effective results at a cost less than the existing methods.

7. Receiving education digitally or online

Online learning has gained popularity over time, especially with the covid-19 pandemic. Everyone seems interested and highly satisfied with this online education module, from schools to offices. Usage of technologies such as Augmented Reality in the Metaverse is now picking up pace in this field of education.

8. Virtual Travel Agency

Everyone loves traveling since it is the best idea to restore your feelings of happiness. With the present-day lifestyle and work pressure, many people cannot visit new places of their choice. Fortunately, Metaverse has no such bindings while the rest of the world is also aware of how happening the tourist business is. Candidates can set up a virtual tourism business where they can offer others some interesting travel experiences.

9. Advantages of Metaverse in the social media

The Metaverse technology can offer planning for the upcoming immersive social media platforms. You can find users connecting with several other participants in the social media-based metaverse platforms as digital avatars in various virtual locations. The primary objective of the Metaverse from Facebook is to offer amazing potential for growing social media platforms.

The very next step of social media development will be about real-life social engagements. Metaverse has everything needed today for building self-restrained virtual communities with the social media ecosystems. This social media metaverse lets the users have an opportunity to speak with their friends who are miles and miles away from them yet make you feel like you are in the same room.

Metaverse is trending in the Gaming Industry

10. Metaverse is trending in the Gaming Industry

The gaming Metaverse is now in use by computer gamers who play online games in a multiplayer war arena. Most metaverse games, like highly multiplayer online role-playing games, are mostly link- and team-based participants. Since the games stay completely permanent in the virtual environment instead of transiting via servers, which is indeed time-consuming, it lacks the features of real-time communication like leaderboards and voice chats.

The augmented reality applications linking the avatar of players in the same room are now becoming highly popular. Apps personalizing the virtual reality displays make use of the smartphone’s camera to offer the users a VR experience. Even though the Blockchain players have not clearly requested the help of Bitcoin Magazine to build and grow their blockchain networks, they have expanded communication methods by using the Metamask tool available with Ethereum. Now, users can use this app to buy NFTS without getting tied to any blockchain other than Ethereum.

Wrapping Up

The Metaverse is purely an AR or Augmented Reality- which will be functional just like an expandable world. It will be possible for everyone to keep growing, but everything will be purely linked. So if you are willing to establish a business in Metaverse, stop overthinking. Go ahead creating a compelling concept capable of addressing the concerns of people with calculated risks.

Share on

Hari Patel

I am the Managing Director of Softqube Technologies Pvt. Ltd., a modern-day digital transformation, design and development service provider. We provide services to businesses of all verticals across the globe. I believe and live by a mission that I help more entrepreneurs to build, launch and grow profitable businesses.

Let’s Work together!

"*" indicates required fields

Drop files here or
Max. file size: 5 MB, Max. files: 2.
    This field is for validation purposes and should be left unchanged.