Back to Blog
January 25 2023
The Race is on to play in the
The metaverse is the latest buzz word around and we are seeing more and more companies and industry players joining the race to colonize space in this new 3D world of virtual reality.
Even so, many of us are intimidated by terms such as Digi Twin, blockchain and avatar which seem to be popping up in more conversations these days. When hearing these new words and concepts, some of us may feel excited about the endless possibilities the metaverse is bringing, but most of us are feeling intimidated and not sure what the fuss is all about.
So, let’s take a look at five reasons why the metaverse has become so topical from a business perspective, and why it deserves all the fuss it is getting!
1. BUSINESS SIMULATION
The metaverse will allow companies and organisations to create a digital model of their business in a parallel virtual world that matches their real-time physical environment. This digi twinning process helps businesses to promote their brands by communicating with customers in a new and innovative manner.
2. INTEROPERABLE ENGAGEMENT
The foundation of the metaverse is virtual real estate built on blockchain-based platforms facilitating unlimited and rapidly growing virtual realms. This will forever change the way customers and clients interact with brands and consume content as interoperability, personalisation and providing sensory marketing experiences will become the new norm.
3. TRANSACTIONAL FREEDOM
Along with the metaverse comes a new world of currency as people and businesses will be able to pay for virtual goods with virtual currency called crypto or non-fungible tokens (NFTs). Not only can NFTs be a great way to increase brand loyalty, but companies can also tie NFTs to real world products. There are many benefits for companies playing in this space and which will be discussed in an upcoming blog – watch this space!
4. DIVERSE CUSTOMER EXPERIENCES
Prospects for business and organisations are limitless. With the metaverse companies can purchase and sell products and services, train employees, showcase innovation, connect with communities and build lasting customer relationships by creating immersive and unprecedented customer experiences.
5. GREATER REACH & COLLABORATION
The metaverse will make it possible to play in a 3D virtual world where you can meet with your colleagues in boardrooms across the globe and where you can host events for clients and customers from the southernmost tip of Africa to the northernmost tip of Greenland – without any of you having to leave your homes or office.
The metaverse holds a myriad of positive outcomes for companies and brands who want to reach their stakeholders across all customer touchpoints – redefined by the metaverse! But how do you as a brand manager, marketing manager or customer relationship manager capitalise on the huge opportunities offered by the metaverse? How do you even begin to make sense of all the different features of the metaverse and how can you take advantage of these elements to catapult your brand into the next level?
Don’t feel daunted and lose the race! Chat to our team at SpaceTo and start your brand’s metaverse journey.
SpaceTo – we are leaders in experiential metaverse design and development within creative economies and we will help you gain the competitive edge by being among the first to introduce a metaverse experience to your customers!