Is Your Business Ready for the Metaverse? Here are 3 Things to Consider

According to Accenture’s Tech Vision 2022 Report, 71% of executives believe the metaverse will have a positive business impact on their organizations, with 42% believing that it will be “breakthrough” or “transformational.”

The metaverse is currently valued at $40 billion, and many analysts expect the value to increase to $800 billion by 2024. Think about it! That’s a $760 billion growth trajectory expected in just under two years!

The metaverse will provide new ways for businesses to virtually communicate and collaborate with their audience from anywhere in the world. Conducting business meetings and training sessions in the era of remote working has never been easier, but the metaverse will take it to the next level. Soon, you and your colleague will sit around the same table and discuss important matters in a completely immersive environment. It will offer better ways of engaging with people, including customers, vendors, employees, friends and family.

How to move your business to the metaverse?

Most experts, including Mark Zuckerberg, say that it’s going to take 5-10 years before the popular features of the metaverse become mainstream. However, some aspects of the metaverse already exist, including ultra-fast broadbands (fiber and 5G), VR headsets, and always-online digital worlds are already up and running.

From SMB’s to enterprise businesses, everyone can step into the virtual world and experience the benefits of having a presence in the metaverse. If you’re ready to take the plunge and be a pioneer in this new world, here are three things you’ll want to consider beforehand.

1) Find the right platform

Metaverse platforms are virtual platforms that assist developers in creating new virtual experiences by leveraging augmented reality, virtual reality, and a host of other technologies. They are also referred to as “the bridges between the physical and virtual worlds.” While big tech companies such as Facebook, Microsoft, and NVidia are working on their own metaverse, currently, there are four major metaverse worlds: Decentraland, Illuvium, Sandbox, and Axie Infinity.

2) Fine tune your existing online presence

Social media is one of the foundations the metaverse is being built on. The vast majorities of businesses already have an online presence (social media, website, ecommerce). Before exploring the metaverse, it’s important to re-evaluate your current online presence and branding strategies. Because many of the same social media rules will be applied in the metaverse, building a social media audience will give businesses a head start.

3) Focus on the experience

People want to experience things, not just see them. What do we mean by this? Identify the feeling your audience will be seeking when they enter your space. This will allow you to offer a great experience to users, which in turn creates repeat visits.

If you’d like to discuss how Vidionix can help your business enter the metaverse, drop us a line.

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