Although the metaverse is still growing, we can all agree that its potential is very high. At the current rate of its growth in technology and as more people turn to it, more spaces are going to be created. The word metaverse is used to describe a fully digital world, where you can make financial decisions that have real-world implications. In more practical terms you can earn real-world money from selling digital assets like NFTs and Cryptocurrency.
In the metaverse, you can interact with people virtually using Augmented reality and Virtual reality. Augmented reality makes use of the real-world setting and interactions with objects that appear in the real world are enhanced with technology. Virtual reality or (VR) is a term you would have probably come across. Virtual reality is completely digital, making the possibilities of what can be, to be limited by only what can be programmed.
The Applications of the Metaverse are endless, from being able to get a medical checkup with your doctor, right from your living room, to going on a visit to the moon. If I was to list out the ways the metaverse can be applied, I won’t be able to tell you all of them but I can tell you for sure that it would be a very very long list.
If you are like most people on the internet, you would have probably imagined how your financial situation would have been if you had bought Bitcoin 5-7 years ago. If you don’t want to get that feeling again, I advise you to hop on the metaverse as not doing so as soon as possible is likely to make you regret it in the coming future.
Today’s article is targeted at both prospective and already made Business owners. Here are the things you need before taking your business to the metaverse.
- An Online Presence: It is that 3 in 4 businesses have an online presence. If you want to take your business to the metaverse you should have an Online presence before anything else. Having an online presence means that you already have a loyal consumer base on the internet. The metaverse is an evolution of the internet that still has the same rules the internet does. You should try building an online presence.
You can do this by making a website and learning how to drive traffic to the site. Another way is social media, of course, you saw this coming. You can get a good online presence by creating an account on any social media platform and getting followers. You don’t need to have the same number of followers as a Football star before you can say you have a good online presence, a few thousand followers will do just fine.
I recommend you create a social media account in as many platforms available, given you can manage them. I believe I do not need to emphasize the importance of managing the accounts. It is better to create one account on Twitter and manage it properly than to have an account on all the platforms without being able to manage any.
E-commerce is the trend when it comes to shopping and if your business already has a strong online presence it is 70% equipped for the metaverse.
- You need to focus on the Experience
The need to understand what makes the metaverse so special is the experience. If your business does not offer a remarkable experience people are not likely to come back for your service.
If you are into selling cars, you should make the experience of buying a car one to remember for the buyer, by providing a 3D view or even going as far as making it possible for the person to take the car on a test run. If you are going to sell cars on the metaverse without making the experience of buying a car on there to be the same as buying it in real life you should stick to selling them on a regular website.
If you were going to run a tourism business and only display 2D pictures, you should just stop and start taking pictures of famous places instead
This goes for all business ventures, the experience you give your consumers is very important.
- You need to be comfortable with cryptocurrency
You can’t have a digital world without having digital currencies. If you want to take your business to the metaverse and you think cryptocurrency is a scam or a bad investment, you should reconsider and be prepared to probably have regrets later on
I am not saying you should buy 3 huge monitors and become a die-hard crypto trader. You should just be comfortable with having digital currency or assets and being able to carry out transactions involving them.
The metaverse is on a trajectory that holds a lot of promise. The metaverse is just in its infancy and is valued at over $40 billion. Its value is even expected to get to over $800 billion in the coming years. In the past months, we have seen big companies look at the direction of the metaverse, especially Facebook, which even changed its name to Meta.
If you are an entrepreneur you should definitely consider looking for a way you can get your business on the metaverse as based on the rate the metaverse is growing can only bring good results.