The Metaverse is here, how are you ready to enter?

We need to calm down and see if reality is as hyped.

Many believe that the internet’s latest paradigm shift has already begun: the metaverse is coming. We need to calm down and see if reality is as hyped. There must be many companies out there wondering what the Metaverse really is and whether it should be involved. For brands considering how to venture into this new space, it can be difficult even to figure out exactly where to start.

The Metaverse is here, how are you ready to enter?

The basic concepts of the metaverse are not complicated. In short, the metaverse encompasses all persistent, immersive, three-dimensional, virtual digital experiences on the web. Metaverse experiences give us the opportunity to play, work, connect and buy (what we buy may be physical or virtual goods). The term “metaverse” feels like a whole, interconnected, and even interoperable universe, and it’s probably a misnomer too, because it’s not. The virtual worlds created by each entity have their own channels, memberships, rights to self-determine currencies, and forms of creative expression, so business and technical specifications vary widely. The Metaverse emphasizes the notion that runs through all of these separate worlds and experiences, and that we are entering a more substantial immersive space than ever before.

A handful of businesses have already begun to shape such virtual spaces, led by entertainment and gaming companies.Epic Games’ Fortnite, for example, normalizes gaming and socializing in a virtual environment. New gaming platforms like Roblox allow people to play in immersive worlds created by users. Decentraland, a fully decentralized, fully 3D virtual world that lets users build virtual buildings — from theme parks to art galleries — and charge other users for entry, all powered by Ethereum blockchain technology. There are also companies such as MetaVRse and Unity developing driving engines for brands and game studios to accelerate the development of AR and VR content production.

However, the immersive environment of the metaverse isn’t just an opportunity for consumer-facing companies.Immersive environments have many uses in business, from training future surgeons to product demonstrations to retail employees. For example, the leadership of the technology company Nvidia believes that investing in aspects such as Metaverse simulation manufacturing and logistics can reduce waste and lead to better business solutions. Microsoft uses its cloud service as the framework of the Metaverse, and uses the Mesh platform to gradually introduce virtual images and immersive spaces into collaborative environments such as Teams. In a post-pandemic hybrid or remote work environment, this more creative online business experience may play a more important role in how companies connect with employees and customers.

For companies still on the sidelines, it’s important that each brand finds its place, balancing risk and reward. This requires grasping the range of possibilities. Fast-moving companies serve both as inspiration and as test cases. For example, many brands take full advantage of the gaming portion of the Metaverse to build immersive virtual brand experiences. According to CNBC, the highly established brand Nike has pioneered the system of charging at the end of the Metaverse sequence and has patented virtual goods and the opportunity to create a virtual retail environment to sell those goods. Nike recently acquired RTFKT, a company that designs virtual sneakers and collectibles for the Metaverse.

Edge experiments like virtual showrooms, fashion shows and fitting rooms suddenly have the potential to be widely embraced. And people don’t just sell physical goods – Sotheby’s recently launched the Metaverse Art Gallery in Decentraland for a virtual art exhibition. As the metaverse grows, community influencers, virtual goods, and new business models for buying physical goods in virtual worlds will become increasingly important.

Brands should always be in a state of experimentation and learning, and the digital world demands curiosity in particular.The Metaverse may be the next iteration of humanity’s use of the Internet to connect, communicate, and trade, and businesses can’t sit on the sidelines for too long.

The Metaverse is here, how are you ready to enter?

Here’s what brands can do right now:

selected target

Think about how much time the target audience or customer will spend in the metaverse, and adjust the speed of the attack – for example, brands targeting young people should not be able to sit outside the metaverse for too long. Who are the target groups? What current behaviors of consumers and potential consumers can be used as a reference for brands to adjust the timing of entering the metaverse?

Keep an eye on the competition

Discuss how peer companies are using the metaverse, such as presenting at a leadership meeting to bring senior teams together to discuss. Bringing up the concept of the metaverse directly can be intimidating, especially when it comes to the elusive concept of non-fungible tokens or blockchains. Can these topics be explained with specific, easy-to-understand examples at each meeting?

Find ways to apply

See if the Metaverse presents an opportunity to not only allow companies to try new things, but also to help achieve goals or long-term missions, such as sustainable development — a number of applications that fit the Metaverse. Almost every CMO has publicly committed to corporate social responsibility related to sustainability, which will be measurable soon.How can we try a more sustainable approach to serving our customers in the Metaverse?

maintain balance

If you’ve entered the metaverse, accept the fact that all new spaces have risks and rewards; manage with that in mind, knowing that it’s very unpredictable and lacks standards. Fortunately, the pandemic has made us more agile than ever. If now is the right time, it’s important to think about how to get involved.

Most importantly, brand marketing leaders or leaders should start thinking about how to be creative in telling stories. If the creative palette expands the dimensions of the metaverse, we should be excited to create new experiences at all stages of the customer journey—from customer acquisition, interaction, transaction to support—that may be more compelling and more engaging than ever. attractive. One day, we will be able to move seamlessly from the real world to the virtual world. That would be the next new frontier.

 

Posted by:CoinYuppie,Reprinted with attribution to:https://coinyuppie.com/the-metaverse-is-here-how-are-you-ready-to-enter/
Coinyuppie is an open information publishing platform, all information provided is not related to the views and positions of coinyuppie, and does not constitute any investment and financial advice. Users are expected to carefully screen and prevent risks.

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