and can be used across various industries.
What is the Metaverse?
Metaverse is a virtual 3D environment that contains and connects various virtual worlds and can be navigated through an avatar representing your identity. The main concepts of the metaverse are business-relevant in today’s economy, which means that once the metaverse is fully developed, it could profoundly change how businesses and consumers interact with products, services, and each other.
Metaverse Benefits for Business
Stepping into a new and highly immersive reality helps companies acquire new and keep the existing customers, allowing their users to socialize, learn, collaborate and play in ways beyond what we could ever imagine.
– A breakthrough experience by 42% of global executives
– Used by 25% of people by 2026
– A positive experience for their business by 71% of executives
– Worth more than a trillion in annual revenues by JP Morgan
– Global spending on VR/AR is expected to rise to $72.8 billion in 2024
– In 2022 the Metaverse market is expected to rise to 47.48 billion U.S. dollars
– It is expected to surge to 678.8 billion U.S. dollars by 2030
– Meta Reality Labs has already invested $10 billion in the Metaverse
Solutions
Enter Existing Metaverse
Find a Metaverse that works for you and buy a property there. It could be some land or a house, or you can even build your brand’s branch. There are already many Metaverses in which you can build your presence. To enter different Metaverse platforms, you must complete three requirements – setting up an account, creating a digital wallet, and building your avatar.
Adapt Your Metaverse
If you don’t want to be a part of the existing Metaverse, but you want to own a metaverse, some tools and platforms are already open source or allow users to adapt to the thMetaverseetaverse. One of the most significant examples is Mozilla hubs, open-source engine member applications that can be forked and made on your own.
Create Your Metaverse
There are a few steps to execute your metaverse idea. The first is the technical part, programming it or hiring someone. The second one is more oriented to your business model. Since there are many brands onboarding and possibilities to explore, the key should be finding your target audience and working toward them. The third step would be to decide which immersion level you’re going with.
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