What new business models did Metaverse bring when it went out of the circle?

With a series of actions related to the meta-universe on large platforms at home and abroad, the concept of “meta-universe” has also received more public attention.

Facebook announced last month that it changed its name to “Meta” and entered the meta universe; Tencent registered meta universe-related trademarks such as “King Yuan universe” and “QQ meta universe” in September this year; Huawei’s rotating chairman Hu Houkun participated in the Zhongguancun Forum in September this year He believes that “the concept of meta-universe represents the human society’s expectation for the further integration of virtual and reality.”

It can be seen that, regardless of domestic and foreign activities, undercurrents surrounding the “meta universe” are surging, and each company is planning to occupy the relevant market in advance. The continuous growth of Meta Universe has brought opportunities to the business world and many new business models.

Gallery is currently the largest number of business models in the meta universe, which may be due to the innate connection between NFT and art.

A considerable part of the early entry into the meta universe are artists and related groups of artists, such as the Chijin Pavilion of the Chinese community artist Liu Jiaying, the Panda Pavilion of the artist Song Ting, the BCA gallery, and the hot dog esoundclub in the Korean community . These groups also gave birth to the earliest and most popular gallery business model in the meta universe.

Games are also one of the most widely used fields of Metaverse. Meta Universe is able to integrate games and social interactions, which also makes many companies extremely optimistic about the future of Meta Universe and begin to lay out the huge market that will be generated in the future.

After some games have incorporated meta-universe elements, they ushered in a growth explosion, which is why many companies hope to enter the meta-universe. For example, in April 2021, American rapper Travis Scott held an “ASTRONOMICAL” virtual concert in Epic’s “Fortnite” game, bringing players to fantasy scenes such as deep sea and space.

The 10-minute concert attracted 12.3 million people to watch the game at the same time, refreshing the music Live score of the most players online at the same time in the history of the game, and does not include the additional number of viewers on Twitch and YouTube. That month, the number of mobile game installations of “Fortnite” increased by 6 million and attracted $44 million in gold.

Fortnite (Fortnite) provides an interesting example where the company gave up control of their intellectual property. After Fortnite introduced some hot character skins, many players immediately logged in to the game and spent game currency to buy skins. Players can get some rare virtual items by completing tasks, upgrading and killing monsters.

And if these skins are limited editions, and there are other rare items blessed, players can actually trade through the secondary market operated by Fortnite, and Fortnite charges fees from them, then the benefits will be immeasurable.

For major IP companies such as Marvel Comics, DC (DC Comics), NFL, Nike, etc., it is unacceptable for them to give up control. But abandoning control rights, and extracting a certain percentage of fees from transactions in the future can be said to open a new business model.

Meta universe is a virtual world of games and social interactions. If people can dress themselves up as their favorite characters in the virtual world, then I believe many people are willing to pay for the experience.

If rare skins are introduced to allow people to crack tasks and obtain rare items blessings, then the time users spend in the metaverse will inevitably increase significantly. Then create a trading market so that people can trade skin items and so on. As a result, considerable transaction costs will be incurred, just like a market maker in the financial market.

In the near future, a number of new professions or products may emerge, such as meta-universe architects, venue designers, meta-universe construction trainers, meta-universe recreation project planners, meta-universe venue operators, 3D scanners, etc. , Presumably, many business models will breed.

Posted by:CoinYuppie,Reprinted with attribution to:https://coinyuppie.com/what-new-business-models-did-metaverse-bring-when-it-went-out-of-the-circle/
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