Are there business opportunities in the Metaverse?
With the emergence and popularity of the Metaverse, the business world is tilting in its direction. I mean, even Facebook changed its name to Meta.
But why are businesses endorsing the Metaverse?
When social media became popular, brands leveraged it to achieve targeted goals.
The Metaverse is the next evolution in the digital space. Will brands leverage it to stay relevant and make a profit?
Many brands see the Metaverse as a potential market for their products.
What opportunities does it present?
Businesses can use the Metaverse for advertisements, to connect with customers or to sell their products or merchandise.
Sales of merchandise is already a thing in the Metaverse.
Games like Fortnite, Marvel Future Fight, Free Fire and others sell in-game items, like characters, skins, and other collectables. These games have also collaborated with other brands/companies to add their features or sell their merchandise in the game.
Sony, Nerf and other brands are partnering with Roblox, a leading platform in the Metaverse, to build their world and connect with customers in its virtual universe.
Business opportunities in the Metaverse: Virtual events
Virtual events are now a thing, thanks to the Metaverse.
Fortnite hosted virtual concerts with artists like Travis Scott, Marshmello and others. Rapper Travis Scott acknowledged that his virtual event on Fortnite was more profitable than his physical concerts.
The musical “In The Heights” also held a virtual party in a recreation of Washington Heights in Roblox.
Business opportunities in the Metaverse: Investments
Many entrepreneurs are also making investments in the Metaverse.
From buying metaverse stocks and tokens to investing in Metaverse assets.
Rapper Snoop Dogg owns a space or estate called “the Snoopverse” on the Sandbox, another Metaverse world. He even threw a virtual house party in his Sandbox mansion.
He sold a plot of land in his digital estate for $450,000. Don’t you think he made a profitable investment?
Metaverse games’ players also sell in-game collectables as NFTs and make money in the real world.
Conclusively, Entrepreneurs who recognize the opportunities the Metaverse presents will surely reap its benefits. Brands who don’t hop on the Metaverse train will probably be left behind.