Move Your Business to Metaverse and Make Big Money

The ability to shop in the metaverse will be one of the most exciting possibilities to make big money

Shopping in Virtual Retail Stores

The ability to shop in the metaverse will be one of the most exciting possibilities. That is why many fashion brands are looking for ways to get involved in the metaverse vision to offer real-time, more immersive, and interactive experiences. Virtual shopping experiences in the metaverse with the integration of AI technologies have the advantage of being able to track a customer's activity, purchase history, taste, and demographic profile and use this data to provide new and more personalized clothes recommendations and encourage purchases. Shopping beyond space and time will enable complete accessibility, allowing shoppers to wander through virtual stores, try on clothes online through a 3D fitting room and even get a 360-degree view of what outfits look like. Customers will even be able to buy a new car while taking an adrenaline-pumping test drive, get a beauty consultation from a personal advisor and try on accessories, sunglasses, and makeup to check how the item looks and feels.

Purchasing Digital Art, Assets, and Collectibles as NFTs

The metaverse is a massive concept, and NFTs can serve as a key concept in the broad ecosystem. NFT metaverse projects would drive the possibilities of using NFTs as deeds to virtual property. NFTs could help in gaining exclusive access to enter the location in metaverse alongside allowing access to others. Interestingly, the smart contract functionalities in the NFT could also help in selling real estate on the metaverse. The use cases of NFT in metaverse would focus primarily on NFT-controlled access in the initial stages of metaverse development. Just like the first-ever real-world example of implementing NFTs in the metaverse, NFT-controlled access could help in ensuring VIP access to real-life events and the events in the metaverse. NFTs could also serve a useful role in airdropping branded merchandise or special access privileges to followers. Apart from driving the efficiency of fan engagement, NFTs could introduce interoperability outside the metaverse with infrastructure supporting the features of location-based engagement and augmented reality. So, it is quite clear that the metaverse and NFTs are made for each other.

Interactions with Users as Digital Avatars for Customer Service

Facebook's metaverse is likely to feature customizable hyper-realistic avatars that closely resemble your facial and physical features, but support customization for add-ons like your hair, outfit, and glasses. In a matter of months, metaverse has emerged as a hot medium for brands to deliver great customer experiences. Brands were already relying on more advanced technologies like AI and machine learning to better understand and reach their audiences, and transform consumer experiences, and storytelling. In the metaverse, they can leverage interactive avatars to serve and engage customers wherever they are and in new ways. Digital avatars are infinitely scalable, which means one avatar can talk to thousands of customers simultaneously, and each customer will get their own personalized and empathetic experience. It can happen at any time of day, in a safe and immersive environment. It means brands can see substantial cost savings. These avatars also lend a natural, interactive, and entertaining touch to the overall experience. Though the current ones aren't quite there yet, in the future, the digital avatars will be able to get 90% of emotional communication right, including body language, micro-expressions, and emotional feedback. Plus, as the interactions are digital, brands can record and get a lot of quality stats that can tie into the business's KPI to improve operations.

Purchasing Digital Real Estate and Development of Virtual Homes

Several investors are paying millions for plots of land, but not in New York or Beverly Hills. In fact, the plots do not physically exist here on Earth. Rather, the land is located online, in a set of virtual worlds that tech insiders have dubbed as Metaverse Property. Fuelled by cryptocurrency, the metaverse is undoubtedly the hottest attraction for investors looking to purchase real estate. The idea of virtual lands may come as a surprise to a lot of people but for the ones familiar with games like Farmville, Clash of Clans, and The Sims, it might not sound such a big deal. However, in recent months we have seen individuals, as well as larger corporations, bid millions of dollars for a piece of land, $2.4 million to be precise. Real estate in the metaverse is an expensive business, similar to the real world, where the prices are based on location, population, and the demand and supply ratio—when there is an increasing demand for a plot in the metaverse in a certain area, then the prices go high automatically.  Some plots in the metaverse can go as high as over $4 Million. Then, there are plots available for affordable prices too. The highlight of the virtual world is that regular people have a chance to buy simple plots or even a vacation island on the metaverse. Some say, buying real estate in the metaverse is similar to buying real estate in Manhattan in the 1940s. Not all plots are as expensive and some can even start from a few hundred dollars. However, just like the real world, everyone wants to be part of the best locations in famous metaverses like the Sandbox and Decentraland.

Use of Virtual Classrooms for Immersive Learning Experiences

A persistent alternate reality presents endless possibilities, especially with a large potential impact on education. It plays at the possibility of virtual reality classrooms. Imagine a classroom full of students eager to learn about history. These students are based in various countries around the world, and their teacher lives as a traveling nomad, constantly visiting new areas to increase his historical knowledge. Thanks to the metaverse, both teacher and student can meet regardless of their real-world locations. Teachers can call upon their traveled knowledge to accurately inform their students. Teachers can build virtual landscapes based on their lesson plans, enhancing a child's learning with experience as opposed to reading from a book. Teaching and learning in the metaverse may sound like a far-off concept possible only in our dreams, but similar situations already exist in our current landscape.