The metaverse is set to transform the way we live, work and socialise over the next ten years, and for business owners across the globe, it’s an exciting prospect and an opportunity that simply can’t be ignored. Although still in development, this virtual world – often dubbed ‘the internet 2.0’ – will soon see us virtually attending meetings from anywhere in the world, purchasing and monetising virtual real estate, trying on fashion items virtually before buying, and many more things that have, until now, always seemed like an impossible dream.
With such exciting developments afoot, the business-minded amongst us are of course already beginning to examine how their endeavours could fit into the metaverse, and how it might be possible to make money in this new 3D world in more innovative and exciting ways than ever before.
Offering the chance to improve employee productivity, allow immersive collaboration, improve communication and offer remote working and training, running a business in the metaverse is set to be beneficial not just in terms of your bottom line, but in many other aspects of your day-to-day operations, too.
Here, we take a look at some of the top metaverse business opportunities you can and need to take advantage of now.
Virtual events
Virtual events are a great way to reach and engage with potential clients or customers without the need to spend money on travel, accommodation, or catering – and given the opportunity they provide to reduce carbon emissions and limit our environmental impact, soon, they could replace face-to-face events on a large scale.
The metaverse will allow businesses to hold virtual meetings with employees, clients, and customers worldwide, as well as conducting sales presentations and workshops online, and offers a much more efficient way to get things done, as well as saving on your budget.
Virtual shopping platforms
Virtual shopping platforms are a new way to sell goods, services, and digital assets in the metaverse, and can be accessed through any device with internet access. We’ve already seen some of the major fashion houses, including Gucci and Philipp Plein, embracing the concept and allowing customers to try on garments and accessories virtually before they buy, and this is soon to become the norm.
If you’re an e-commerce business then this could work wonders when it comes to boosting revenue, building confidence amongst your customers and allowing them to make informed decisions on what to buy – which could soon see them more willing to part with large sums of cash for particularly extravagant goods or services.
Digital real estate
Pieces of virtual real estate are virtual properties that can be bought and sold on the metaverse blockchain, thus allowing users to own land or buildings in the metaverse world. Virtual real estate owners can use their property to earn revenue by renting them out or listing them for sale on a virtual shopping platform, similarly to how they might monetise real estate in the real world – and you’ll also be able to use it as collateral for loans from banks or financial institutions on the blockchain, which makes them valuable assets for investors looking for long-term investment opportunities.
Virtual offices/employee engagement
The virtual office has enjoyed quite the surge in popularity over recent years and offers a great opportunity to start your own business in the metaverse. Thanks to the latest technological innovations, it has become easier and cheaper to run a virtual office, and you can run yours as a simple reception or a full-fledged office. That means no pricey rental payments, and no need for staff to be in a physical office – saving you money and affording them greater autonomy and freedom in their work, as well as an improved work/life balance.
Gaming
The gaming industry is one of the fastest-growing industries in the world today, with over two billion gamers worldwide, and the metaverse is set to offer some huge opportunities for games developers. The platform will allow them to build games on its blockchain network, with gamers then able to play against each other without leaving their computers or mobile devices. The tokens earned by players as they successfully complete elements of each game will then be able to be used as currency within the game or sold in exchange for real money.
Online education platforms
If you’re an educator looking to reach out to your students and engage them more effectively in the classroom, then an online education platform could be just what you’re looking for. Thanks to the metaverse’s advanced blockchain technology, students will be able to take classes online, anytime they want, all without having to leave their homes or offices. This will also allow students who don’t live in metropolitan cities to access high-quality education at lower costs than traditional universities offer, eventually leading to more skilled and knowledgeable generations in the future.
The bottom line
The metaverse is growing, and businesses have plenty of opportunities to expand and capitalise on all it has to offer, over the next ten years and beyond. Sooner, rather than later, companies should look at the opportunities within the metaverse to gain new customers, partners, and allies that can help them grow their business, as currently, there are some unique and innovative ways to do so that aren’t yet being leveraged by the masses.
Can you really make money in the metaverse? The answer is a resounding yes. As the metaverse’s popularity increases, so will the value of the cryptocurrency tokens that will be used to make trades and transactions within this 3D world, and the more people who use the platform and buy into it, the higher the demand for MST coins, thus causing their value to increase over time. It’s an exciting time for business owners and budding entrepreneurs across the globe, and a unique window of opportunity you simply can’t afford to miss.
