Metaverse has knocked on the doors as a virtual revolution, where even the biggest of brands are playing their stakes high. Market leaders and experts are predicting that Metaverse is an opportunity worth $10 – $30 trillion, that will manifest in almost half a decade. Till now, you might be wondering that is Metaverse development even worth it for small-scale enterprises to dabble?
Here in this article, we will answer your query and discuss how enterprises can leverage the wonderful technology of Metaverse to sail ahead in business.
How you can leverage Metaverse to grow your business
Integrate AR/VR into business
There are many brands out who are very keen on trying different types of content and they are looking at Metaverse. Notable brands like Apple, Dulux, and IKEA have already used Augmented Reality (AR) and we can say that they have initiated their transition into the journey of Metaverse.
As an entrepreneur, AR will offer a medium for people to interact with your digital content by seeing more information about the product straight into their smartphones and devices. An educational institute would rather find AR/VR much handier to demonstrate its way of teaching, while a business house can simply add AR functionality to its website in a cost-effective way.
Interactive virtual commerce store
Another step for an entrepreneur who runs an e-commerce website is to upgrade it into an interactive v-commerce (virtual commerce) store. Such a v-commerce store utilizes AR/VR technology to let customers chat with friends and try virtual items before buying them over Metaverse.
Many popular brands have been in the stages of incorporating v-commerce into their online retail website which would let their loyal customers experience a range of functions. In short, v-commerce comes as a concept that would bridge the gap between in-person physical shopping vs. online shopping by offering personalized digital experiences.
Creating and offering digital assets can be a great way to boost your brand, as NFTs (Non-Fungible Tokens) let customers interact and engage with the brand. NFTs are a special type of tokens or digital assets having exclusive ownership rights and you can sell it as a token offering VIP access to a certain product that is newly launched but limited to selected ones. This creates buzz in the minds of general public and pushes for brand loyalty which will further strengthen the relationship with customers.
Metaverse can help in creating appealing advertisements which create long lasting impacts over the target audience. Metaverse can work as a new channel for businesses where they can connect with their customers across the globe and can even let businesses test their products in real time.
Build your community
Businesses after creating above mentioned things would not surely like to lose the momentum built by creating brand loyalty. So, another step is to build a community-driven space that would encourage like-minded people to interact subtly, leading to brand image creation.
Communities also serve purpose for hosting special events, conferences and launch parties, so that you have enough space where customers can get directly involved with the brand offerings.
Metaverse is an exciting technology that has its own opportunities and challenges to be considered while adopting and implementing, says a senior blockchain developer at Rejolut. Data theft is a big issue faced by companies and businesses must ensure that personal data is being protected at all costs with the help of blockchain technology.
Be it the security of cryptocurrencies in a wallet or in-game assets where users spend time and money in such Metaverse technologies as a whole and in the future, this is set to rise.