How Metaverse Can Help Your Business In 2022? Metaverse Statistics

Barry Elad

Updated · Jun 19, 2022

How Metaverse Can Help Your Business In 2022? Metaverse Statistics

Everything you need to know about the Metaverse

How Metaverse Can Help Your Business? The term “metaverse” has been popularized worldwide in recent times. Everyone is curious about what it means and how it works. It is essential to understand the metaverse better in order to address these questions. This article may prove to be helpful for metaverse enthusiasts. You can check metaverse statistics for more information.

What is the Metaverse?

The term “metaverse” refers to a network consisting of three-dimensional virtual environments, each centered on social interaction.

It’s a simulated digital environment that uses VR (virtual reality), AR (augmented reality), social media concepts, and blockchain technologies to create spaces for rich user interaction that behave and look like the real world. It includes virtually everything, from meetings, shopping, games, socializing with friends, etc., although there have been many more over the years.

History

In his science-fiction novel Snow Crash, Neal Stephenson invented the term “metaverse” nearly 30 years ago. When he wrote this novel, he imagined the person who looked like avatars and meeting in genuine 3D buildings and other virtual reality situations, which are today standard.

IANS (Indo-Asian News Service) claims that the Metaverse is an ideological fusion of digital experiences powered by Moore’s Law. Its mission is to connect augmented and virtual reality environments in real-time, rich, and connected worldwide so that billions of people can socialize and work together in new ways.

Rise of the Metaverse:

Mark Elliot Zuckerberg, the founder of Meta (CEO of Facebook), believes that it will take nearly 5 to 10 more years for the metaverse’s essential characteristics to become widespread. On the other side, the metaverse is growing at an accelerated pace.

Now, you can get virtual reality headgear, ultra-fast broadband speeds, and online worlds that remain online 24/7. But not everyone has access to them.

It would be best if you first connected the headset. Then, you will be able to connect to the VR (virtual reality) interface practically in your daily life in nearly every sector as the years pass and more vivid apps become available.
Many people believe that the metaverse will eliminate the internet. Perhaps we should all live there. Experts are not sure if Facebook Company is attempting to acquire it, but it might be Roblox, Epic, or other smaller businesses.

Perhaps it is due to Nonfungible tokens (NFTs). The Nonfungible tokens are one-of-a-kind blockchain-based digital assets such as music or digital art, as well as tokenized real-world assets such as cars or homes.

Advantages of the Metaverse for Different Business Sectors and Customers

Metaverse’s technology has real-world applications

The metaverse’s complex virtual environment is made up of multiple layers. A significant investment in computing power is required to produce high-quality 3D environments. In addition, infrastructure, software, and hardware are equally essential.

Furthermore, when it comes to investing within the metaverse, the security of the metaverse is a major concern. There are many factors to consider when investing in the metaverse.

This may sound like something out of a science fiction novel, yet the metaverse is already being integrated into the operations of a few of the world’s most significant corporations.

Many companies in the following sectors have already expressed interest in this innovative technology:

This system is made up of the following components:

The Metaverse: Brands

Sotheby’s recently launched a digital bidding house that can sell popular NFTs and display artworks in a virtual gallery. Prager Metis and PricewaterhouseCoopers companies have also entered the metaverse. Prager Metis Company, which has 23 locations worldwide, bought a virtual office for $35,000. On the other hand, NVIDIA Company will launch a virtual platform called the Omniverse. It will be able to connect worlds in the metaverse as it improves.

Beyond Brands: Other Applications

What are the business advantages of operating in a metaverse? These are some of the ways that the metaverse can benefit businesses:

Providing a training place for new employees

The metaverse may help individuals learn with minimal operational overhead and risk from surgeons to delivery workers.

Digital Marketers

The “creator economy” includes digital assets, creating tools, and eCommerce businesses.

Providing an environment in which virtual events can take place

Forget booths, branded pens, expos, and bright overhead lighting.

Providing a place for employees to collaborate

Consider virtual meetings. You can feel like you’re in the same room with your colleagues.

It serves as a fun place to host team-building activities

Dinners, virtual gaming, and conversations within the metaverse can make it quicker and easier to create cohesion among worldwide distributed teams.

Hardware

Hardware includes virtual reality headsets, mobile devices, and augmented reality spectacles.

Education Sector

The experience’s passive nature is a common complaint from remote students. The metaverse, which includes augmented reality and virtual reality components, can make virtual learning and teaching more interactive.
New digital technologies are embraced by educational institutions that stand out. For example, the metaverse could be used to teleport students to any historical time in a history lecture. More engaging learning experiences may also boost interest in university enrollment and online courses.

E-commerce

Some reports claim that Walmart may be considering entering the metaverse by developing its own coin and establishing a library of NFTs.

Connectivity technologies

Examples of the metaverse infrastructure include technologies such as Wi-Fi, 5G, GPUs, and the cloud.

Gaming

Funcom, Epic, Linden Lab, and Sky Mavis are all successful avatar-based online gaming businesses that desire to learn metaverse in detail to increase the enjoyment factor in their games.

Frameworks for the modeling in spatial computing and 3D visualization

Software examples include AI (artificial intelligence), blockchain, edge computing, mobile applications, MR (mixed reality), etc.

What Are the Benefits of Metaverse for Digital Marketers?

In the Metaverse, marketing

Digital marketers need to keep up with recent technological advancements. It is essential to have a solid grasp of the metaverse and all its possibilities in order to do this. Furthermore, marketers must also recognize that the metaverse is not just a passing trend. It is here to stay, and it will soon become the next big thing in the marketing field.

Parallel marketing of metaverse in real-life marketing

It is important to create marketing experiences that correspond with your brand’s existing activities in real life and are connected with real-world events.

What improvements do marketers need to make as the metaverse expands?

Marketers must first remember the importance of Gen Zers and millennials as target audiences. This generation is a big fan of games like VR (virtual reality) and Roblox.

Immersive experiences are important: Virtual Advertisements

In the metaverse, you can place virtual advertisements. For instance, Bidstack, a video game advertisement tech company, switched from outdoor ads in real life to ads on virtual billboards within games.
You may take advantage of the fact that metaverses are immersive and experiential. You can make your marketing and advertisement activities as immersive as possible. For instance, Offer a few events and branded infrastructure that individuals can participate in, rather than just advertising that people can see.
Collaborations with Roblox and other metaverses have been a new way for brands to make money.

Participate with existing groups

People dislike advertising in general. As brands attempt to enter the metaverse, they shouldn’t show up to other people. You will need these users to like your brand because you will be trying to sell them.

Making collectibles available

The metaverse is another place where people enjoy collecting things. The metaverse can offer the same experience by providing them with assets or limited-edition items that are only available in the metaverse.

Always experiment

Marketers now live in an exciting era. While marketers can use guiding principles to help them decide which tactics and strategies they want to use, the metaverse is still the latest platform with great potential for experimentation. While best practices have been established and paradigms created, they are still in the process of being fully developed. This gives marketers ample opportunity to be creative and innovative in their approach.

Remember that you cannot just move to a new platform without thinking about the new format.

Consider this a marketing campaign designed for people with large followings. So you must have user-generated material so your community members can become integral parts of how you manage your campaigns.
The Collector’s Room is a feature in Roblox’s Gucci Garden game. This allows people to access a limited amount of Gucci products in their metaverse. Gucci earned 286,000,000 Robux in the game the first time they sold collectible products.

Future of the metaverse

The future of the metaverse seems bright. It’s not a sci-fi concept. Many of the current activities in the real-life could be duplicated in the future in the metaverse, such as:

  • You can buy land in the virtual universe
  • Virtual shopping centers will allow immersive commerce
  • Selling and buying online avatar accessories and clothing
  • Parties, concerts, and other social events
  • Building virtual workplaces and homes
  • Investing in collectibles, digital art, and other items (NFTs)
  • You can learn in the immersive virtual classroom
  • Digital avatars are being utilized to help with employee onboarding, sales, customer service, and other business aspects

Conclusion

Many people believe that the metaverse will become more popular, and its markets could be flooded with billions of dollars each year.

Imagine a metaverse-based business selling a new device that works only in the metaverse (such as a time travel machine). Then the virtual gadget is given to other metaverse-based companies (like corporate groups or movie producers that high-end host events in the virtual world).

Moreover, the metaverse could also help organizations accomplish more things in a short time, which can make a significant impact on the economy. Organizations may be able to use the metaverse to get more things done in a shorter time frame, which could make a massive difference in the economy.

Interchangeably, many people use “corporate metaverse strategy” and “enterprise-level strategy.” Many companies are now taking on the risk of creating their virtual worlds complete with their own assets and digital properties.

I hope you understood the answer of How Metaverse Can Help Your Business?

Barry Elad
Barry Elad

Barry is a lover of everything technology. Figuring out how the software works and creating content to shed more light on the value it offers users is his favorite pastime. When not evaluating apps or programs, he's busy trying out new healthy recipes, doing yoga, meditating, or taking nature walks with his little one.