How Enterprise Metaverse Will Aid in Business Evolution

Enterprise Metaverse For Businesses

By definition, an enterprise metaverse is a virtual realm that furnishes profound business opportunities and growth for an enterprise. Through optimization and tailored experiences, enterprises are making metaverse solutions work for them in the most enticing and rewarding ways. The marketplaces within the metaverse are swiftly becoming the key source of revenue influx whilst enabling new products and services to enter the market and reaching customers all across the globe to drive economic gains.

In this blog, we will discuss how enterprise metaverse solutions with transform businesses and how they operate. We will also uncover some of the most prominent opportunities that metaverse is presenting to diverse industries and business sectors. Let’s begin.

Enterprise Metaverse: A Detailed Glance

Experts suggest that the metaverse will incessantly revolutionize the internet-powered trend of user-experience personalization. Businesses and customers alike will leverage metaverse as a futuristic and advanced virtual space to augment their physical world experiences. 

Depending on the business objectives, portfolio of consumers, and the nature of business, enterprises can use metaverse for a plethora of purposes such as gamification, content distribution, event management & sponsorship, digital marketing, virtual real estate development, eCommerce, real-time video streaming, and more. 

Enterprises with an eye for technical progressions are subsequently monitoring the ever-changing patterns of customer behavior in order to avoid lag in metaverse adoption. Therefore, let us take a closer look at what possibilities an enterprise metaverse will furnish in light of the current metaverse capabilities.

• Reach a global user-base

Perhaps one of the most significant appeals of metaverse to any business is its ability to offer global reach. By producing immersive and engaging 3D experiences at a hyper-scale, metaverse development services are deliberately bridging the gap between reaching out to new markets and overcoming geographical barriers. 

It is enabling businesses to not only access clients around the world but also have an unforgettable impact on them, similar to the real world. Prospects from across the globe can traverse the metaverse and explore the services and products in a more life-like manner, interact with businesses on a deeper level, and experience personalization just like they would in any zonal or regional company.

• Drive engagement

Like social media channels and eCommerce platforms, the metaverse also furnishes the ground for driving strong engagements between businesses and users for mutually benefitting possibilities. Metaverses are meticulously designed and architected to drive new ways of engagement via methods such as:

• Real-time communication
• Customization of 3D avatars
• Built-in payments
• eCommerce features
• Buying, selling, and owning opportunities with NFTs
• Personal data security
• Self-sovereign identity authentication

• Build meaningful connections

Every business seeks to build new connections and improve its relationship with prospects, customers, and other ventures. By introducing realism and immersiveness to digital connections, enterprise metaverse solutions aid in the formation of more meaningful and lucrative ties. Businesses and consumers may connect, interact, participate, and collaborate with each other in totally new ways.

Enterprises can also use metaverse solutions to track customer requirements in real-time and adjust their experiences, thereby meeting user demands and needs in the best way possible. Enterprise metaverses that are free of design and technological constraints can furnish clients with hyper-scalable and fully configurable experiences through immersive 3D virtual environments. 

Also Read: Adapting Your Business Applications For The Metaverse

Enterprise Metaverse Solutions & Opportunities For Businesses

1. Digital Products

There are innumerable opportunities for creating virtual products and NFTs within the metaverse. Almost anything that people have in the real world might be something that they might seek to build or own in the metaverse such as retail stores, outfits, homes, cars, universities, and other things that we possibly can not even imagine right now.

2. Sponsorship of Concerts & Events

The surge in virtual concerts and music events has led to increased adoption of on-demand and live streaming services in the metaverse. For instance, recently, Fortnite hosted a mega performance by rap star Travis Scott. Another example includes a music festival hosted by Minecraft for the band Massive Attack. As more concerts and events are being hosted in the metaverse, enterprises will have a wide array of opportunities for potential and profitable sponsorships.

3. Games

Ever since the concept of metaverse development emerged, gaming platforms and gamification solutions have been the backbone of this service segment. AR and VR-based games have been fuelling game enthusiasts to build and market P2E games that feature in-game assets with NFTs.

4. Remote Work

Business workflows and workplaces are also increasingly shifting to the metaverse. From board meeting rooms and simulations to co-working spaces and training sessions, enterprises all across the globe have started to embrace the implications of the metaverse. For instance, Meta (formerly Facebook) Horizon’s Workrooms is seeking to take on zoom and provide employees with new ways of communicating and collaborating in online virtual environments.

5. Process Manufacturing

Metaverse applications are steadily being used by manufacturers and factories to drastically improve their operations. For instance, the world’s largest brewer, Anheuser-Busch InBev, is using metaverse apps like Azure Digital Twins to architect an entirely digital model of their supply chain and breweries that syncs up with physical environments in real-time. It enables brewmasters to optimize and adjust the brewing process and conduct quality control. 

Summing Up

The metaverse is a nebulous concept that means many things to many people, industries, and enterprises. Taken at its broadest definitions, it inculcates applications powered by next-gen technologies such as augmented reality, virtual reality, edge computing, blockchain, and NFTs. Initially, what really matters for businesses is whether these immersive and intuitive applications might create diverse engagement, profitability, and opportunities for them. 

At Oodles Technologies, we have a seasoned team of metaverse development experts that create robust platforms and apps for the metaverse. With profound industry expertise, we enable enterprises and technophiles to build custom metaverse platforms for sectors such as eCommerce, gaming, real estate, healthcare, entertainment & media, and more. If you are looking to build metaverse applications for your organization or services, feel free to drop us a line. Our experts will get back to you within 24 hours.