The Metaverse is catching on. We might not know yet what the Metaverse will look like. But we definitely know it will become a huge part of the global economy in just a few years. So it’s time to grab the best opportunities for business in the Metaverse.
About a year ago Mark Zuckerberg told us that we all should start preparing ourselves for the brave new world. He called it the Metaverse.
According to Facebook CEO, the Metaverse is a set of virtual spaces where you can create and explore with other people who aren’t in the same physical space as you. You’ll be able to hang out with friends, work, play, learn, shop, create, and more.
Zuckerberg’s belief in the Metaverse was so strong he even renamed Facebook into Meta.
For now, even if you are a strong believer the Metaverse is still a vague concept. The probability of its coming to life heavily depends on the evolution of several technologies. Which are basically in the early stages now.
Both AR and VR technologies have come a long way in the recent years, but still it is hard to imagine millions of people buying and using those weird-looking massive helmets everyday.
Anyways, while Zuckerberg is pushing for his own platform and even his own currency – the Zuck bucks- the Metaverse quietly takes shape with the help of others.
Decentraland, Axie Infinity and the Sandbox already attract millions of users. Atari, Epic Games and others are ready to launch their own version of the Metaverse.
No matter how skeptical you might be on this, you have to admit the Metaverse is inevitable. We are on the verge of the new era of the internet.
And it will undoubtedly bring new opportunities for business.
What business in the Metaverse looks like is still an open book. But we already see the opportunities emerging. And as always who comes first gets the best seats.
Maybe it should be you?
What can you do in order not to miss the upcoming opportunities for business in the Metaverse?
Land business in the Metaverse is booming already
It is already one of the most trending businesses for the metaverse.
Just as it was in Snowcrash, the novel by Neil Stephenson that first introduced us to the whole idea, the Metaverse will be pretty similar to our universe.
At least the avatars will be using the virtual land just as people are normally using the land on the earth. So the users will be able to trade the virtual land or rent it.
Some companies have started offering lands even before we could see the metaverse.
Land is for sale in all the emerging versions of the Metaverse now.
It might be years away from the time when the Metaverse becomes really popular. But imagine how much that virtual land will cost then.
How could you invest right now?
If you do believe in the bright future of the Metaverse, all you need to do is buy virtual land. While it is still relatively cheap.
It might take a decade to see the full potential of your land in the Metaverse. It is a long term investment. But it might prove to be sensationally effective.
It’s something like Bitcoin. In 2012 nobody wanted to buy it for like $15. At the time of writing Bitcoin is at $40,000.
Business industry in the Metaverse
This one will definitely be a hit.
Remember that state of shock you were in when COVID-19 pandemic began. The global lockdown immediately destroyed the corporate culture of business meetings we had all got used to.
Just in one day everybody became a big fan of of Skype, Zoom and other apps that allowed you to spend a working day without pants.
The big breakthrough was when virtual backgrounds were added. You could now be sitting in your bathroom while talking to your boss.
But that’s just the beginning.
What happens when Zuckerberg’s dreams come true and we are able to arrange business meetings in augmented or totally virtual reality?
The idea is that basically you choose an avatar and meet with somebody else (also represented by avatar) in a joint space despite the fact that you are both at your homes in different cities, countries or continents.
You don’t need to look at the screen, and you are sitting in the meeting room, discussing everything as in the real meeting room.
It might be even possible to arrange the whole working process through avatars seeing each other all day long. Just like you used to do in the office before the pandemic.
Of course, we need a series of breakthroughs in AR and VR technologies for that to become real.
How could you invest right now
Start a business to help people design their corporate offices in the Metaverse.
Marketing industry will be a huge business in the Metaverse
As soon as the Metaverse becomes real, the marketing industry will become its driving force. The marketing industry will be revolutionized by the Metaverse, to say the least.
Just take a look how the internet has changed the marketing over the years. 25 years ago the most reliable way to promote something was to put it on TV or in print ads.
Nowadays big businesses spend billions of dollars for social media marketing and targeted advertising.
Companies like Google and Facebook are basically becoming the infamous Big Brother not because of their truly evil nature – though, who knows – but because they desperately need to know as much as possible about their customers to be able to sell this data to the advertisers.
How do they get this data now? They watch how you surf the web and social networks, know what you browse, what you watch and like, they read your emails.
Imagine what Facebook, sorry, Meta will be able to learn about you if they will be able to see your gestures, mimic, eyeballs movements and even pulse.
And that is only a part of it.
Think of Tony Robbins giving you a lecture in a virtual environment. Or imagine your avatar trying that Gucci thing.
Compared to our reality today, the digital marketing of the Metaverse era will be something like a rocket compared to a horse.
The marketing industry will become even more effective than ever.
Whatever you are doing today in marketing, you would be able to do in the metaverse. Only better.
How could you invest right now?
If you are a digital marketing expert or if you are running a digital marketing agency you should start adapting your business to the new reality. Take a deep look at the emerging Metaverse technologies. Enter the existing metaverses, become an active user, try catching the first opportunities. Start establishing your own brand in the virtual world. Explore the ways to market different stuff in the Metaverse.
Gaming business in the Metaverse will explode
Gaming is the first thing that is catching on in the Metaverse. In fact, most versions of the Metaverse now consist of different games and are built around gaming this way or the other.
So gaming is one of the best metaverse business ideas.
If you want to start a metaverse business today, gaming can be your choice.
People spend billions of dollars on gaming.
Video gaming is expected to be a $268 billion industry by the end of 2025. It is going to be bigger than gambling, drugs and weapons, that’s for sure.
And while today’s AAA games and all kinds of gaming consoles aren’t going anywhere soon, it is obvious that the Metaverse will be a gaming capital of the world.
Let’s just take a look at PUBG, which became immensely popular thanks to the fact that players were virtually part of the game. They could interact with one another, communicate etc.
If all those VR technologies succeed – and they probably will – the Metaverse will bring gamers terrific new experiences. You might be able to feel what you do in the game. Bullet hits, dragon’s breath, sea breeze – all that might become much closer to you. The games will become a truly immersive experience.
How to invest right now
If you are in the gaming business already, start building games for the Metaverse. Get your developers ready for VR gaming. Be ready to adopt your gaming technologies for virtual worlds. Don’t wait for the AAA titles to occupy the Metaverse. Because they will and you will be thrown to the sidelines.
If you are not in the gaming business yet, then maybe it is time to join it. Developing games for the fastest growing business sector of the next generation internet – and that is exactly what the Metaverse is about to become – is quite a way to invest. That’s for sure.
Virtual goods will conquer the Metaverse
Yes, I am talking about NFTs.
People are going to buy virtual goods just as they do with the real ones. Just look at how much money the gamers spend in PUBG and other games.
A pigeon that sits on your shoulder while you are shooting your enemies, how much would you pay for that like five years ago? Today it is quite a typical purchase.
NFTs (non-fungible tokens) became a thing just last year but have already become a business for billions of dollars. A picture of a monkey that belongs to you only and costs $200,000 has become something quite ordinary today.
The Metaverse will be built around NFTs.
And if you doubt that just ask yourself what is the most important thing about expensive things? The answer is scarcity or exclusivity. If you buy something exclusive you will definitely want this to be yours only.
Next question will be about the technology that can provide you with such exclusive rights for something. ANd the answer is obvious. We need blockchain and NFTs built upon it.
Almost everything sold in the Metaverse will be NFTs. The land, the real estate, the furniture, the cloth, paintings, avatars etc. Everything will be NFTs.
How to invest right now?
When the Metaverse appears, NFTs will be all around. Selling NFTs will be a massive business in the Metaverse. Take a closer look at NFTs, find out the best way to produce them, define your niche and start to create them.
It is a long run, so maybe most of the NFTs you create will not be in demand for years. But when the time comes, they might bring you fortune.
But just remember to find yourself a niche, because you obviously can’t just start riveting NFTs of all kinds. Aimless business is a potentially dead business.
Money will be a business in the Metaverse
It comes as no surprise that the Metaverse will widely use cryptocurrencies for its economy.
Every Metaverse will quite predictably go with a cryptocurrency of its own. And you can clearly see it already happening. Decentraland is using MANA, the Sandbox comes with SAND. Meta clearly wants us all to use the Zuck bucks.
But jokes aside, the Metaverse will definitely use the most popular cryptocurrencies too.
How to invest right now?
Buy and hold the most popular cryptocurrencies, like BTC and ETH. Also pay attention to the news. It might be reasonable to diversify your investments with some of the emerging Metaverse coins. If Decentraland seems promising to you, buy some MANA. If there is another Metaverse that you think might become a thing, invest there.
You can build your own Metaverse
Last but not least. If you have resources and knowledge you might try to build your own version of the Metaverse.
It might sound a little bit crazy.
But in the late 1990s people were afraid to launch their own websites. Because it seemed so complicated.
Technology is evolving really fast. There are means to develop quite complicated technology products you could never dream of.
At least the first implication of your Metaverse can be as simple as a generic modern game. All you have to have is just an idea, a vision of what your Metaverse is about.
Give people a clear understanding of why they should spend their precious time inside.
Be it a virtual city or a virtual country, augmented reality gives plenty of opportunities to create an extendable universe.
As to how you could compete with technology giants just remember that any great business is starting with small steps.
How to invest now?
Great ideas always find a way. Come up with a great idea. And people will support you. Remember that Google, Facebook and Twitter started as small projects without huge investment. The money will find you.
Sources: BeInCrypto, 101BlockChains, SturdyBusiness