Metaverse in Action: How Businesses Harness its Potential

June 14, 2023
Metaverse in Action: How Businesses Harness its Potential
The metaverse – what comes to mind?

For most of us today, the metaverse means people wearing virtual reality (VR) headsets, representing themselves as an icon or animated figure (avatar) in an online game. Others may think of augmented reality (AR), like generated overlays of information coming onto whatever you’re looking at through your smart phone. Others may know about cryptocurrencies like Bitcoin, or non-fungible tokens (NFTs), which are digital assets with special identification codes and rights that make each one unique in the otherwise easy-to-replicate digital world. What all the above have in common, and what really is the basis of the metaverse, is the concept of immersing yourself from the real world into the digital world, in which you interact and share experiences with others in the digital world in real time. Like the early days of the internet, the potential of metaverse appears unknown but seems unlimited.

How businesses are using the metaverse today

It’s moving from early adapters to the early majority/mainstream stage. Businesses today are using the metaverse for enhancing customer engagement and extending market reach, while also improving efficiency and scalability. Examples going on right now include:

  • Setting up virtual storefronts to sell virtual and real-world merchandise
  • Placing virtual ads, sponsoring virtual events or creating digitally branded experiences to promote products and services
  • Hosting virtual events and charging virtual ticket fees or selling virtual merchandise
  • Partnering with game developers to create branded content and promote their products
  • Purchasing virtual land in a popular metaverse platform and charging rent or selling it for a profit

As we said in a prior blog post, “Although the metaverse is in its infancy, its potential is undeniable. Radio, television, and the internet all came before with their world-changing effects. The metaverse is next in that line of technological advancements that savvy business organizations will adopt for their own specific goals.”

What’s Next for Your Business? Step into the Future with Metaverse as a Service (Maas)

With Prolifics and our MaaS, you don’t have to do it alone. We handle the technical complexities and provide the necessary tools for you to explore the virtual world. Enhance customer engagement, extend market reach, improve efficiency, and scale your business with our expertise in IoT, digital twin, virtual, and augmented reality.

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