Would Metaverse be a new norm in the Business World?

Working remotely and meeting people in a virtual world has become a reality in a new world of work that has created new possibilities for collaboration and growth, as well as letting technologies adopt the new changes. One major change that has emerged, is connecting the world into 3D virtual reality, which is termed as the next generation of the internet known as Metaverse. The combination of augmented, virtual and mixed reality will become a key medium for social and business engagement.

Metaverse was coined for the continuity of the business and for the revival of the stomped economies in the era of the pandemic. The young generation uses the internet as a new entry point for communication and socialization, getting updates, shopping, and entertainment. As the big tech companies fight to dominate the market and build new rules, the non-tech companies have to adapt and adjust to them. This emerging technology known as Metaverse will transform all sectors by introducing immersion visualization allowing consumers to remain intact at any time.

Impact on real world

Metaverse has come out with the power to move fiction into reality. Young people will spend time and enjoy the virtual life they build. Metaverse is used as a recruiting tool, holding interviews and managing events in this digital world. People can also earn money by socializing, meeting, and advertising in a virtual world. From inventors and innovators to businesses and pioneers, to influential people and members of the general public, all can work and be in a box, without boundaries or restrictions.

The possibilities of the virtual world, where everything is supported by code, could open up revenue streams for companies that move into the new world for companies that move into the new field impacting the marketers. Targeted ads would appear on the screen while just having the thoughts in the mind and just clicking, the physical universe becomes a virtual one. Companies, brands, and marketers will connect to the users by meeting the demands through building connections in the virtual world. As the virtual world would offer huge financial opportunities to the marketers, it will also raise concern over the impact and safety of their users.

How big Metaverse could be in the future?

The future of Metaverse is not hidden which is being operated by more than 160 giant companies. Facebook had the big Metaverse division with a spend of approximately $10 billion last year. Simultaneously all the big companies are getting involved in the reality of the virtual world. Tech companies like Nvidia and Autodesk, gaming companies such as Roblox and Epic games are making their way to achieve Metaverse by connecting the 3D world into a shared virtual world. The world’s largest E-commerce platform Amazon is also seen as a potential player of Metaverse. Following the footsteps, the fashion industry is also making its way to the virtual world. Space runner, a Metaverse fashion company has raised $10 million in a seed funding round led by investment firm Polychain Capital and asset manager Pantera. Adidas and Nike are also keen to open up virtual storefronts in the future.

About MOCA 

 MOCA being the largest OEM consolidator across the globe and an advertising innovator is helping advertisers to make innovative formats & combinations for contextualized promotion. MOCA is the most trusted and reliable partner for marketers to provide one-stop service in improving efficiency and effectiveness communications across all OEMs and top publishers, to help them to reach the target audience and to be the top-of-mind brand.