3 points for understanding business opportunities in the metaverse
Meta gave viewers a glimpse into the future at Connect 2021 last month, introducing the endless possibilities of Augmented Reality (AR) and Virtual Reality (VR). One of the things I wanted to highlight on Connect is that the Metaverse development solution is expected to come to fruition within the next decade, if not soon, and presents a huge opportunity for businesses of all sizes. We’re on the cusp of a transition to the metaverse, and we’re feeling the same expectations as the transition from desktop to mobile. The mobile internet has proven that there is more economic opportunity for everyone when there is a level playing field.
In this article, we’ll share some key takeaways to help you stay grounded in the opportunities you have today while preparing for a brighter future. We hope that those who read the following three points will be able to build the future together with us, think about the future, and create ideas for the future.
1. Focusing on 2D apps today is a bridge to the coming metaverse
We believe that the Metaverse will bring the greatest opportunities to modern business since the advent of the Internet. The Metaverse is the next evolution of digital platforms and the successor to today’s mobile internet. But even though that future is already beginning to glimmer, the first immediate way people will experience the Metaverse will be through two-dimensional apps. What does this mean. It’s important to focus on the skills you’re using right now to grow your business on Facebook, Instagram, Messenger, and WhatsApp. Because those skills will be the foundation for growing your business in the Metaverse of the future.
At Connect, we shed light on various possible use cases and considered the role that Meta’s technology will play in the Metaverse. Here are some ideas for developing immersive experiences in 2D apps in the future.
- Commerce: The rise of digital commerce will create unprecedented opportunities in the metaverse, creating new ways for buyers and sellers to connect. For example, like Jackie Aina’s space on Connect, shops on Instagram may become more immersive and give consumers the choice between buying physical and digital goods.
- Entertainment: You can still host paid online events on Facebook, but what if you could turn those events into a mixed reality experience? You may have the option to both visit the venue in person and purchase tickets for the virtual experience. On Connect, we showed an example of two friends enjoying the same concert, one in a local venue and the other in the Metaverse.
2. The Metaverse enhances real-world experiences
The world we live in is already a mix of online and offline. This hybrid state has become particularly pronounced over the past year or so during the pandemic. From video calls to text-based messages, people are more connected than ever before. However, with the Metaverse, we aim to make connections even simpler by further reducing the hassle and enhancing the quality of real-world experiences.
Current use cases for augmented reality, such as Spark AR, are great examples of how the metaverse and the real world can merge. Already, some businesses are using AR to let customers place virtual furniture in their homes to see what they look like, or using AR to try on makeup and glasses directly from their Facebook feed. I’m here. Regardless of industry, businesses looking to leverage mixed reality and real-world experiences will find a variety of use cases to experiment with in the Metaverse.
3. The Metaverse is co-created and built under responsibility
The Metaverse development company is not built by a single company. The development of the Metaverse will take place in global partnerships with companies, creators, policy makers, entrepreneurs and others.
From the beginning, the Metaverse is built on a framework and foundation that creates a safe and secure space for its users. With integrity, security and privacy in everything we do, Meta will work with experts from government, industry and academia to explore the issues and opportunities in the Metaverse.
What can we do as a business now? Anticipating the arrival of the Metaverse, but not neglecting the focus on the “now”
People’s expectations of how they interact with business have changed. In line with this, the mobile internet has provided new means of personalizing the experience. We believe the Metaverse will drive this trend, and Meta’s technology will play a major role in the process.
However, just as with the mobile Internet, business opportunities arise from consumer behavior. So whether you use Facebook, Instagram, Messenger, or WhatsApp, it’s important to seize the opportunities at hand and continue to grow your business through new initiatives, experiments, and growing your audience. Because the connections you make on these platforms carry over to the Metaverse. In the history of business, brands that have achieved great success have evolved by understanding the changing needs of consumers, and have continued to be valuable entities over time. Businesses can take their steps into the metaverse by launching new commerce channels on Facebook Shops, Instagram Shops, or by creating filters in Spark AR. You might even try creating an augmented reality ad that lets your customers get an image of your product from the comfort of their own home.
