If you have come this far, we understand that you are interested in knowing the business opportunities that the metaverse will generate in the future. You are in the right place because in this article we are going to tell you about the infinite possibilities that the metaverse will offer to companies, as well as specific examples of how some, such as Gucci, Nike, Balenciaga, BMW, Zara, the Prado Museum, among others, are already approaching it to generate business and are going to exploit it even more in the near future.
But, if by any chance you still don't know what the metaverse is, we are going to explain it to you quickly and easily.
What is the metaverse?
The metaverse is an ecosystem of interconnected virtual environments, in which users have total freedom to interact, both with the environment and with each other, which has its own rules and even economy, and whose design hasa specific purpose for the userswhich can be either social, or commercial, or even artistic or divulgative.
And now after getting an idea of what the metaverse is, you're probably wondering what can be done in it.
What can be done in the metaverse?
A user in the metaverse can move freely throughout the virtual environment and interact with other users, can buy his own plot of land on which to build his house or open a business, you can also access attractions and mini-games, make purchases of virtual assets such as NFTs or even enjoy exclusive events such as concerts.
But if we focus more concretely on the possibilities that the metaverse can bring at a business level, within this ecosystem of interconnected virtual worlds, companies and brands can virtualize commercial or corporate spaces, they can show and sell their products both physical and digital, they can organize events in which to attract new customers, they can create a new communication channel with their community and they can even introduce advertising in a novel format that captures the attention of their target audience.
Success stories and business examples in the metaverse
In general, these are some of the opportunities that the virtual environment currently offers us and the approach to the metaverse that is being created. Now, so that you can visualize why your company should enter it and consider creating corporate virtual worlds, we are going to show you some success stories and examples of metaverse approaches for companies and brands, which will surely inspire you and give you a clearer vision of how to take advantage of this new immersive experience for your business.
Australian Tennis Open in Decentraland
Big sporting events generate a huge attraction for users and sponsoring brands. This fact has been taken advantage of by the organization of the Australian Open tennis tournament, which has recreated its facilities in the Decentraland metaverse.
Thus, the first Grand Slam of the season is also experienced from within the metaverse, allowing users to access this plot of land during the days of the tournament, and which has included the virtualization of the sports area of the center court and various establishments, activities and attractions that have the presence of brands such as Ralph Lauren, Fly Emirates or Kia, as official sponsors of the tournament.
Virtual visitors will be able to enjoy exclusive content that can only be accessed from the Decentraland metaverse, such as videos and images from more than 300 cameras throughout Melbourne Park, including the exclusive players' arrival area and the training village. In addition, the tournament organizers have also included mini-games and activities within the virtual world, as well as the possibility to purchase commemorative NFTs of this historic event.
Virtual visitors will be able to enjoy exclusive content that can only be accessed from the Decentraland metaverse, such as videos and images from more than 300 cameras throughout Melbourne Park, including the exclusive players' arrival area and the training village. In addition, the tournament organizers have also included mini-games and activities within the virtual world, as well as the possibility to purchase commemorative NFTs of this historic event.
BMW BMW's factories of the future
The collaboration between two technology leaders, BMW and NVIDIA, has led to the creation of BMW's virtual factory. It is a virtual environment created using NVIDIA's Omniverse platform in which BMW conducts production planning tests using simulation tools.
This virtual twin, based on the German brand's real factories, is capable of integrating all the data from the different BMW applications, allowing employees anywhere in the world to access them in real time. In addition, it also enables better communication between operators from different areas, giving them the ability to access the virtual simulation and work together to optimize the details of a process or production system when needed.
Recreation of the Prado Museum in Animal Crossing
The Museo Nacional del Prado also decided to get closer to learning about the possibilities of the future metaverse by creating its own island in the game Animal Crossing: New Horizons. This virtual environment recreates different exhibition halls in which users can view some of the most representative paintings of the museum itself.
The clear objective of this project is to attract the attention of young audiences and bring culture and art to them using a medium and a form through which they feel more comfortable and integrated. A further example of the versatility that the metaverse and the virtual world will provide to companies, brands and institutions, opening up an almost infinite range of possibilities.
The clear objective of this project is to attract the attention of young audiences and bring culture and art to them using a medium and a form through which they feel more comfortable and integrated. A further example of the versatility that the metaverse and the virtual world will provide to companies, brands and institutions, opening up an almost infinite range of possibilities.
Virtual avatars for fashion brands
The media explosion of the metaverse has also caused a multitude of major fashion brands to join this new technological wave. Thus, the creation of virtual avatars and exclusive skins to dress them up looks like one of the key pillars to monetize the content of this type of brands in the metaverse.
In this case of success we present our own work for the online launch of the brand OVVER STUDIO, in which we designed and virtualized these two avatars, which served as mannequins to dress them with the garments of their first collection. An innovative way to present the brand and its first collection of products taking advantage of the use of new technologies.
In this case of success we present our own work for the online launch of the brand OVVER STUDIO, in which we designed and virtualized these two avatars, which served as mannequins to dress them with the garments of their first collection. An innovative way to present the brand and its first collection of products taking advantage of the use of new technologies.
Would it be possible to combine Minecraft and Pokemon in the metaverse?
Well, actually yes. And in fact something similar has already been done. In this example you can see how the recreation of the scenarios of this well-known saga of games within a virtual world in Minecraft has been done.
In addition, through mods created specifically for this approach to the metaverse, the game experience was also recreated allowing players to capture their own pokemon, train them, make a team and fight against other players on the server or against NPCs that could be found exploring the world.
Nikeland, Nike's path to the metaverse
Nike, a leading sports apparel and equipment brand, was one of the first companies to set out to explore the path to the metaverse and take advantage of the great potential of this new technological trend. This is how Nikeland was born, a virtual environment developed in Roblox that is accessible from both desktop application and mobile app.
Access to Roblox, and therefore also to Nikeland, is free and in its virtual environment users can participate in different sports competitions of soccer, basketball, obstacle courses, athletics and other types of mini-games. Of course, within this virtual world, users can also interact with each other and purchase virtual clothing from Nike via NFTs to dress their avatars.
Music festivals and concerts in the metaverse
The music and entertainment industries are also two of the great beneficiaries of the metaverse boom. So much so that we can currently speak of live concerts having already been performed in multiple video games and virtual environments, precursors of the future metaverse.
We can list the Fortnite concerts, in which artists such as Marshmello, Ariana Grande, J Balvin or Travis Scott participated, also concerts in the virtual environment of Facebook Horizons and also in the metaverse of Decentraland, which hosted the realization of the first music festival in a virtual world of these characteristics, which lasted 4 days and had as main figures Deadmau5 and Paris Hilton.
Virtual recreation of the Templar Castle of Monzón
The Templar Castle of Monzón is one of the main attractions of its region, due to the fact that it is a fortress considered a national monument, which has more than 10 centuries of history and where King James I lived during his childhood.
For this reason, with the aim of making it known and promoting tourism in the area, from DeuSens we were commissioned to make this complete virtual recreation of the castle, allowing users to access the virtual environment with their own avatar, dress it with various skins of medieval times and make virtual visits both alone and accompanied by a guide as in real life.
A technology that is shown as a precursor of the metaverse that is to come and that shows us a new example of its potential, in this case giving visibility to a national monument with centuries of history and that thanks to this virtual recreation, is accessible to anyone from anywhere in the world through your computer.
As we have previously mentioned, the fashion industry has been one of the main supporters of the metaverse seeking and driving new opportunities for brands within it. The creation of virtual garments that serve as skins for user avatars has so far been the main method of monetization of this industry in the metaverse.
So much so, that we can talk about brands like Balenciaga, Gucci, Ralph Lauren or Zara that have already launched to create their own digital assets and NFTs to the point that Gucci managed to sell one of its handbags in digital version for more than $4000, being a higher price than that same bag in the real world.
Another type of business in the metaverse
The possibilities of the metaverse will be practically endless in the near future. For this reason, it is a necessary task for any type of business that intends to enter it and take advantage of it, with strategy and creativity, when it finally becomes a reality.
The metaverse is still an unattainable concept today, but technology is advancing by leaps and bounds and the curiosity of society and companies is leading us to see more and more examples of possible businesses that are already beginning to emerge.
Below we leave you with other examples of businesses that we can find in the virtual world today and that will also be a reality in the metaverse of the future.
- NFT art galleries
- Digital asset auction houses
- Discotheques and social areas
- Movie theaters
- Amusement parks
- Casinos and arcades
- Real estate
- Shops
If after knowing the business possibilities that the metaverse can bring to your company you are interested in starting to approach it but do not know where to start, from DeuSens we can help you to achieve it and make the most of this new virtual experience that is being developed.
We will accompany you throughout your journey towards the metaverse; from the conception of the business idea and how to apply it, through your incorporation into an existing virtual world or even creating your own custom-made one, to help you attract the public and get customers, giving full visibility to your project through marketing activities in non-conventional media.
And now that you have our support, will you join the future of the metaverse?
