Metaverse has grown as a new wave driving many business opportunities. However, the feasibility of business ideas on Metaverse when this technology trend is maturing is still in doubt. At the same time, one cannot ignore the potential of this virtual universe, especially in the context of so many positive predictions made with the support of big names in the world. We’ll look at some of the most promising business opportunities in Metaverse.
1. Virtual events
Virtual events are one of the first answers to the question, “What is a profitable business opportunities in Metaverse?”. Even with the Metaverse still in the spotlight, virtual events have been applied in reality. By using VR/AR technologies, 3D avatars give users an immersive experience, and users will feel like attending a lifelike event, connecting many people in different spaces. Technology will erase geographical distances.
The first benefit of hosting a virtual event on Metaverse is increased accessibility. Owning a ticket to participate in the event on Metaverse will erase the geographical and physical distance. Participants who only need to sit at home can still enjoy the vibrant atmosphere at an idol’s concert being held halfway around the world.
2. Increase the learning experience
Applying Metaverse to the education sector will benefit both businesses and participants. Under the impact of the Covid-19 pandemic, online learning has become an effective problem-solving method. However, learning through the Internet brings many negatives because of boredom and lack of 2-way interaction.
Educational business ideas on Metaverse will bring unprecedented experiences to learners. Most importantly, businesses do not have to invest too many resources in building infrastructure because it is already integrated into Metaverse. Learning in a virtual environment with the support of Technology helps learners interact with concepts and immerse themselves in the world of knowledge.
3. Enhancing the shopping experience
The retail sector is one of the most promising business opportunities in Metaverse. This is also why a series of big brands race to join this virtual universe. The most significant benefit of shopping in Metaverse for customers is a rich shopping experience.
Imagine you are at home and want to visit a fashion store you love halfway around the world. Of course, you can’t book a plane ticket to depart to that place, and shopping through 2D screens sometimes doesn’t satisfy you. With Metaverse, you can now role-play visiting a fashion store with a single mouse click. You can explore the store and its products just like in the real world. The product information is displayed clearly.
The development of NFT digital assets is widely used in shopping. Products submitted to Metaverse will exist as a unique and non-replaceable NFT. This ensures that the product quality is always the best. This will bring the best shopping experience to the users.
4. Real estate investment
Virtual real estate investment is gradually becoming a strong craze. Along with the development of Metaverse, virtual land investment has become a new trend, gradually replacing real land investment. The many virtual properties of The Sandbox and Decentraland sold for millions of dollars show the potential of this market. Investors can buy virtual land and resell it at a higher price when the amount of virtual land gradually decreases. Another direction is building commercial centers and renting out for businesses that need to join Metaverse, which is also a potential business opportunity.
5. Social Media
Metaverse is the ideal base for new social media platforms with rich experiences. Users can interact with others through 3D digital avatars in virtual spaces. This helps users chat and interact with their friends in the same space, even when thousands of kilometers apart. This will be a huge advantage compared to the current 2D screen interaction.
One of the most important advantages of Metaverse for business is the availability of an open, shared and persistent virtual environment. This is a great advantage for businesses in many fields to convert conventional business activities