METAVERSE & WEB3: COMMERCIAL STRATEGIES ORGANISATIONS SHOULD START TO CONSIDER TODAY

Metaverse market capitalisation is anticipated to reach approx US$825 million by 2030!

This is exciting because it really goes to show how many innovative roles the #Metaverse is set to play in the transformation of our every day lives!

We’re a way off yet, but if you aren’t already planning ahead for your #business it’s at your own peril.

COMMERCIAL CONSIDERATIONS TODAY FOR TOMORROW’S WORLD

There are a few strategies that would be highly advantageous for organisations to be considering today.

?? How Can We Create Sustainable Growth in a Phygital World?

What are the potential #commercial opportunities the metaverse and underlying technologies may create for our business, both short and long-term?

?? How can we innovate metaverse #monetisation ?

As digital tokenisation increases, clarity on how value can be created and captured is fundamental, how can we unlock growth in existing and emerging business models?

?? How will we integrate metaverse sales?

New routes-to-customers will change traditional sales approaches, creating new #salesmodels and channels both for existing (physical and digital) as well as future virtual offerings.

Considerations will be:

- Creating customer segmentations and virtual territory designs

- Integrating virtual sales approaches into #omnichannel strategies

- Empowering #digitalsales forces to drive sales of existing products

- Defining #token launch, sales and distribution mechanisms.

?? What Does Immersive Metaverse Marketing Look Like For Us?

Considerations will be:

- Identifying new #communication channels, driving immersive #brandbuilding and personalised digital advertising initiatives will be critical to tapping into new markets.

- Developing your in-metaverse algorithmic promotion management

- Creating engaged, effective communities and #marketing approaches

- Designing tokenised loyalty programs that deliver at scale

- Optimising the #virtual #customerjourney and driving marketing-mix effectiveness

What Do Dynamic Metaverse Strategies Look Like For Us?

As commercial business models evolve, organisations need to strategically link metaverse opportunities to their overall #corporate vision and brand identity.

Considerations will be:

- Developing holistic corporate metaverse and #Web3 strategies

- Creating metaverse business model designs and go-to-market plans

- Designing ecosystems and managing virtual #innovation

- Defining use cases and prioritisation tactics

NEXT, I'VE DEFINED CURRENT “Use Cases” BASED AROUND “VIRTUAL ENVIRONMENTS”

#Entrepreneurs are already developing uses within the current Web3 / Metaverse Development Space.

So, with the current notable growth of “virtual environments” I’ve gathered some tangible “use cases” as web3 continues to innovate and develop.

Let me say, it’s extremely compelling, in particular, to consider #healthcare and #science based projects or any subject that requires “real world” #researchanddevelopment scenarios when applied to 3D environments!!

Considering the scope of forthcoming advancements, their impact to humanity is truly breathtaking!

?? NFT Marketplaces

Making waves during the #NFT boom, the role of #NFTMarketplaces in metaverse development applications is pretty HUGE!

NFT marketplaces can be one-stop solutions for #creators , #brands and #startups looking for?their first taste of #blockchain backed immersive environments!

Actually, NFT marketplaces in metaverses can sell anything from artwork to #virtualland plus anything in between.

These platforms are greatly anticipated to be “mainstays” in metaverses.

?? Event Spaces

These days, metaverse events are becoming more of a common sight; especially since the NFT boom!!!

Performing artists have conducted concerts on various metaverse-based platforms, including The Sandbox and Fortnite .

Metaverse #eventspaces for meetings, conferences and parties have started to become “a thing” too! I mean you heard about that couple based in Singapore right? They recently had a metaverse marriage!!?

?? Gaming Spaces

The advent of NFTs has already boosted the scope of incentive-based #gaming , and #metaversedevelopment is only set to refine the experience through immersive platforms.

Metaverse gaming spaces can be utilised for organising professional #Esport tournaments that could make gaming a professional career like sports.

Such rooms can be built for games based on Play-to-Earn and Move-to-Earn mechanisms supplemented with VR / #AR functionality and other Web3 elements to enhance them.

?? Workspaces

3D #Workspaces were exacerbated by the pandemic because they better united remote-workers.

Apart from these metaverse development solutions offering a more realistic “office-based” experience, they also increased productivity.

Companies have been able to reap the benefits without the overhead of physical spaces.

Albeit, full-scale virtual workplaces are still in their infancy, meetings are often conducted through #VR based platforms that often lead to desired results.

?? Simulations

For some time, research tests have been conducted through 2D computing devices but with 3D perception.

Metaverse development, though, #digitaltwins and #simulations can bring research studies across domains to a whole new level!

Getting accurate results becomes much easier and fairly riskless.

Important fields such as; #medicine , #engineering , and natural science could benefit the most from metaverse simulations because it enables #researchers to study in great detail a variety of different phenomena to arrive at precise results.

?? Healthcare Solutions

Where simulations assist with research, metaverse healthcare solutions supplement patient-end medical services.

Rehabilitation, therapy, and clinical appointments can be made immersive with advanced metaverse development making tele-medicine more real-world-like.

Studies and training for medical professionals can be made clearer through virtual environments using #XR , #AI , and #ML technologies aided with analytical #data .

#Gamification elements inside such metaverse development applications assist patients in curing quicker and medics in understanding patient ailments.

?? Social Spaces

Unsurprisingly, the increasing craze towards social networks has also expanded into the metaverse development #ecosystem , with multiple metaverse social spaces currently under development.

These platforms will offer users more than feed-scrolling, as #immersivetechnology will make #avatar calls and #3dvideo watching possible.

The success of these spaces depends on the time taken for advanced technological devices to reach most mainstream users.

?? Payment Solutions

While mostly an application useful during the transformation process, metaverse payment solutions could play an anchoring role in processing #crypto transactions inside #virtualworlds .

With businesses garnering thousands of trades per day inside these worlds, metaverse development for payments could help us understand the internal workflow of these worlds before becoming totally #decentralised .

These can also be extended to #financial applications such as #virtualbanks and #defi platforms in metaverse land.

In conclusion, metaverse development will become the main element in the growth of Web3 as we progress.

The "use cases" I've listed above can be viable business options in these virtual environments as their use will undoubtedly become more widespread.

Many of these "use cases" are still under vigorous research and development inside small rooms.

If you’re a #businessowner looking to advance your venture toward metaverses, consider the aforementioned list before beginning a new platform to get an idea framework.

There are experienced metaverse development companies out there who can support your advanced business platform which will set the tone for your business in the future!