The Metaverse: Snake Oil or a New Way of Thought?
The question on the minds of most corporate entities seems to always pertain to the involvement of the Metaverse.
“How do we apply this concept?”
“When can we get started on this?”
“What even is it?”
If you’ve found yourself asking these questions on a continuous basis, you’ve come to the right place.
Today we are going to discuss the business aspect of the Metaverse. How can you apply it in your efforts and what does it entail?
What is it?
The overall concept of the Metaverse is providing the world with a new medium of connectivity.
From being able to shop for clothing without having to visit a store to visiting a stadium from the comfort of your own home. The Metaverse provides us with limitless opportunities to collaborate and create in a virtual space.
Mark Zuckerburg coined the term Metaverse, however, the concept of virtual integration is not limited to Meta itself.
For instance, videogame platforms such as Minecraft or Roblox have provided their own collaborative platforms where people can meet and communicate ideas with one another in a creative space. What Zuckerburg plans to do is take this concept one step further.
Soon, corporations and institutions will have their own pocket Metaverses where individuals can collaborate.
How does this apply to business?
As always, the question that arises is that of engagement on a commercial scale.
One thing that needs to be made clear is that the Metaverse is still in an exploratory phase. This means that the all the options for consumerism have not yet been identified and it’s up to us, the consumers, and entrepreneurs, to identify these aspects.
A recent example provided to us by TechUK was that of the medical industry engaging in professional operations virtually. This saw Doctors from across the globe providing real-time advice and information during medical procedures while the patient and practitioner were in another location.
In terms of business, the commerce sector is most likely to be affected the most.
Online shopping will soon be elevated to new heights. Products can be viewed in better detail than on a screen. Virtual tours of the homes in the housing market can be given to people in other countries looking to immigrate.
The only limit (up until this point) is imagination.
Should We be Looking into it?
Long story short, yes.
The Metaverse is well on its way to becoming a status quo for commercialism and jumping on the bandwagon sooner may be beneficial.
Start small, look for ways to gamify your service or product offerings. Expand your virtual vocabulary and capacity in your business. Collaborate with professionals in this space.
And above all else, make sure that what guides you in this is your imagination.