Top Real Metaverse Opportunities for Businesses

Top Real Metaverse Opportunities for Businesses

If you have a knack for marketing, the top real metaverse opportunities are Digital goods, Real estate, and brands selling attention. Read on to discover how to make money in the metaverse. You may even find some opportunities for gaming as well. But before you go out and purchase virtual goods and start selling attention, there are some things you should know about this emerging technology. Here are some examples. If you’re looking for new ideas for marketing your business, the metaverse offers an endless number of possibilities.

Here Are The Top Real Metaverse Opportunities for Businesses

Real estate in the metaverse

The process of purchasing metaverse land for your business is quite similar to buying real estate on Earth. Usually, the purchase is made through a digital currency such as Ethereum. However, some platforms use other cryptocurrencies such as SAND, a virtual currency that connects with the community-based Decentraland platform. Purchasing metaverse real estate requires you to have a digital cryptocurrency wallet. Once you have it, you will need to create an account on a virtual metaverse platform and link it to your digital wallet. Once you have done so, you can purchase land through a broker. Unlike real estate brokers, however, metaverse brokers are not regulated and don’t require any licenses.

There are now over a dozen platforms selling real estate in the metaverse, with new ones sprouting almost daily. Most of the sales, though, have concentrated on the “Big Four” platforms – Sandbox, Decentraland, Cryptovoxels, and Somnium. With these platforms, you can set up your business and begin to generate income. There are a variety of benefits to owning property in the metaverse, including monetizing intellectual property and selling non-fungible tokens for virtual currency.

Digital goods in the metaverse

In the metaverse, brands can create virtual spaces that showcase their products and services. There are numerous ways to monetize these spaces, including advertising and sponsored content. Meta is working to generate revenue by offering users the ability to buy virtual goods that correspond to real-world products developed by consumer brands. As an example, brands like Gucci and Vans have created virtual skateparks where visitors can get a virtual burrito, which is redeemable for real-world food.

Developing the digital realm is a key component of these new businesses, and many early adopters are exploring this trend. One company that has taken advantage of this trend is Vntana, which allows brands to upload design files and optimize them for the web, social media, and game-engine standards. They then can upload the products to e-commerce sites and social media platforms, or even use them in augmented reality experiences.

Brands selling attention in the metaverse

Despite the huge potential of the metaverse, the retail industry has yet to harness all its benefits. But those brands and retailers that see the biggest upsides will be those that bring communities into the mix. To help them tap into the metaverse development, brands and retailers should look at how they can integrate traditional offline marketing strategies with virtual ones. To begin, brands can consider purchasing plots of land and building storefronts in the virtual world. They can even create 3D versions of their products and offer virtual coupons for real-world purchases.

Luxury brands are experimenting with the metaverse as well. Luxury fashion house Gucci, which is part of Kering, recently began selling digital items, such as sneakers and handbags. The luxury brand also is experimenting with virtual objects called NFTs, and has sold a piece inspired by the brand’s 2021 collection at Christie’s. For this experiment, Gucci has used the metaverse to create a brand hub that combines real-world and digital elements.

Gaming in the metaverse

The rise of a decentralized, immersive digital world is opening immense business opportunities for the digital world. In a decentralized digital world, creators have the power to commercialize their assets and activities. No longer are digital goods captive to a single gaming brand or platform. Moreover, the impact of COVID-19 has accelerated digitization and normalized persistent multipurpose online engagement. Such a combination of social, economic, and technological forces has created an explosive interest in gaming in the Metaverse.

Games and virtual worlds have been around for a while, but the concept of a metaverse has only recently been explored. The Sims, for example, has been around for nearly two decades. The modern equivalents of such worlds have hundreds of millions of players and huge supporting economies. In fact, nearly $54 billion is spent on virtual goods annually, which is double the amount of money spent on music. Blockchain and non-fungible tokens have enabled the vision of the metaverse.

Creating a metaverse from scratch

The concept of a virtual world is not new, and while this space can be great fun, it can also be used for business purposes. Companies are now entering the metaverse to take advantage of the many business opportunities in this space. These businesses are engaged in activities such as selling products, fashion accessories, and works of art. These items are displayed in the NFT format, which means they can be purchased in the metaverse without a physical copy.

Brands can use the metaverse to conduct live customer support. Brands can also experiment with new marketing campaigns and new products. Hyundai, for example, has created the Metamobility vision, where consumers can actually try out its cars. In the future, this technology will change how consumers shop and interact with brands. While it’s early to tell how the metaverse will affect business, it will certainly affect how people interact with brands.