How are businesses using the metaverse?
Many are using it as you would imagine… to sell.
As we said, the metaverse is a weaved web of commercialisation. People place a value on owning digital assets – especially if those assets can be used universally both online and in the physical world. It's purpose-built for everyone and commerce is in the code. It's not a place confined to a screen where you access it by logging on, but it's how you live and work and interact with almost everything around you.
It's real. It's practical and companies are already benefiting from it. Fashion brand Vans is selling digital and physical garments within the Roblox ecosystem. Nike is bought in Fortnite.
The gaming industry is the metaverse pioneer and many of its embryonic metaverse-like platforms owe their success not only to the entertainment value they offer, but to their virtual economies. Users take part in thriving marketplaces with all manner of transactions and new assets (like NFTs).
But like we said, the metaverse is not just a hi-spec marketplace.
5 examples of how brands are already using the metaverse
Creating unique sellable NFTs
Hosting or sponsoring events within the metaverse
Creating virtual workplaces
Creating virtual stores, showrooms or consumer experiences
To deliver immersive and engaging virtual training programmes