The metaverse is evolving before our eyes. A few years ago, this phenomenon was distant and incomprehensible, but today everyone is talking about ‘metaverse virtual reality’. This is confirmed by statistics. According to a study by the media company MarTech Alliance, the metaverse market will reach $400 billion by 2025. Moreover, it is already sitting at around $47 billion thanks to a surge of interest in 2020 when the pandemic peaked.


Now is the best time for a business to enter the metaverse. The faster companies adapt to the new meta-reality, the more new users they will attract. In this article, we have collected several metaverse enterprise solutions to grow a business online. Let’s go!

Definition & evolution of metaverse

First, let’s understand what the metaverse is. The metaverse is a combination of multiple elements of technology, including virtual reality, augmented reality, and video, where users ‘live’ within a digital universe.

Simply put, the metaverse is a digital world with improvements where it is possible. If you have an iPhone, there is an app called ‘Measure’. With the help of this app, users can measure the length, width, and height of something. ‘Measure’ is a simple example of a metaverse app: augmented reality makes life easier for users.

 

An example of Metaverse solutions in practice: Measure app.

The name ‘metaverse’ originated from ‘Snow Crash’, a 1992 cyberpunk novel by Neal Stephenson. In the novel, characters can build things that in actual reality do not exist. Today, crypto-related projects built on the metaverse technology offer governance and economic values to their users.

We have another article on the blog – “What Is Metaverse: a Lucrative Opportunity Or a Futuristic Utopia?“. Click the name to check it out, too! 😉

Large companies strive to create their own metaverse virtual realities and attract as many users as possible to it. The main one on the metamarket, of course, is the Meta company (formerly known as Facebook). After the company changed its name in 2021, the popularity of the meta began.

That’s what Mark Zuckerberg, the head of Meta, says about it: ‘The metaverse is the next evolution of social connection. Our company’s vision is to help bring the metaverse to life, so we are changing our name to reflect our commitment to this future.’

Now, a huge number of companies create their own metaverses or open ‘representative offices’ in existing ones. Look at the picture: there are more than 300 metaverse companies.

 

Good examples of companies with metaverse enterprise solutions.

You can also find more info about leading metaverse companies in the article here. ❗️

Ways companies can use metaverse

Business owners often may have plans to build their metaverse. And you probably have already thought about various business applications for the metaverse enterprise solutions. If you’d like to learn about our take on what these business solutions could be, keep reading!

1. Events sponsorship

Metaverse started with online games that millions of users play regularly. In such games, users usually explore the entire online world and interact with each other — like in the metaverse, you know.

The video games market is really large. There are 2.69 billion users around the world and the figure will rise to 3.07 billion in 2023. Games often hold their own events in the online world. This is the first metaverse enterprise solution: companies can become sponsors of such events. There are two reasons for being a sponsor:

1) Increase brand awareness among young gamers, many of whom are not yet able to buy certain goods. Being a sponsor allows a company to form a pool of loyal customers in advance, even before the peak of purchasing power for this audience. ✔️

2) Build trust with a solvent audience. ✔️ The more often players see the presence of the brand in the familiar gaming environment, the more likely they will buy the product.

 

2. Commerce

With the rise of digital commerce, the metaverse will unlock new opportunities for buyers and sellers to connect in a new way. You can imagine your shop on Instagram becoming more immersive, with the option to buy physical or digital products, says Meta in its annual 2021 report.

That’s true. It doesn’t matter what a company produces: apps, clothes, food, or some services. At the metaverse, you can sell everything! Just use the NFT format. Actually, that’s what all metaverse companies do.

What’s NFT? NFT or a non-fungible token is a unique digital impression. Among them can be:

✔️ paintings,

✔️ photographs,

✔️ videos,

✔️ music,

✔️ GIFs,

in a word, any content that claims to have at least some kind of uniqueness. They are highly prized among collectors, gamers, and art lovers, and are bought and sold through auctions. Nowadays, anything can be NFT.

 

A non-fungible token is a great metaverse enterprise solution.

 

3. Education 

Online education is good, but education at the metaverse is better. As a business, you can create your own virtual 3D environment or worldwide collaboration spaces for all kinds of educational purposes. On the platform at metaverse, you can train new employees and improve the skills of those who have been working for a long time, conduct internships, meetups, and lectures. Also, at the metaverse, you can create an online library and store all the knowledge that is needed to work in the company.

And when you are sure that your educational metaverse works well, you can promote it to a wide audience. Users love learning from famous metaverse companies. Look at Google: they have several educational online projects.

4. Entertainment & games 

While Facebook is creating plans to build its metaverse and host events there, consider how you can entertain your audience. Entertainment is a good metaverse enterprise solution. As we have said, the metaverse originated in online games. Perhaps you can gamify some processes of your business. For example, if you provide financial services, make a system of goals and bonuses inside the mobile application.

Or look at Meta! They already have events within the metaverse where people show up as avatars. In any case, this is a great solution during a pandemic. Imagine if you could make this a mixed-reality experience where people could join in person or buy a ticket at the metaverse virtual reality. 

By the way, Facebook organized three concerts in the metaverse, and they all turned out to be failures. It’s not really clear why these concerts drew such a poor audience, but it might have something to do with the fact that the metaverse remains a bit of a novelty for most people. Another reason could be that most of the concerts were not fully optimized for the VR experience. So this is good ground for thinking about how to make such an event that the audience will come to.

 

To find a metaverse enterprise solution, try to entertain the audience.

 

5. Recruiting people

One more metaverse enterprise solution is to recruit people using meta technologies. One of the best features of the metaverse is that people can be in the same virtual room, while physically being in different parts of the planet. Korean electronics firm Samsung and motor company Hyundai both held job fairs in a metaverse program known as ‘Gather Town’ in September 2021.

And the consulting company PwC conducts interviews at the metaverse. PwC HR director says that this way they manage to communicate with more people and find the most professional employees.

So you can also start recruitment processes at the metaverse. We are sure that there are many good specialists around the world. Over the past two years, remote work has become a regular part of our lives. Therefore, it is not surprising if the company’s office is located in America, and the new employee is found in Australia. Since 2020, all of us have used Zoom for online meetings, but it still doesn’t have the effect of presence. But thanks to the metaverse, you can easily work together in one virtual space as if you are in the same real one.

Some final thoughts about the metaverse

So, what can I do as a business right now? First and foremost, while the metaverse is the future, don’t stop focusing on today. Start adapting your business to the future metaverse virtual reality. The earlier you start to work in this direction, the better position you will have in the market in several years.

❗️

At Brivian, we can help with any metaverse enterprise solution. Our team of professionals is able to help you with metaverse issues. We can consult you on any questions. What is more, Brivian specialists are good at 3D avatar models and blockchains for your business goals. So don’t wait for the right moment because technologies are changing too fast. If you have plans to build your metaverse, it’s time. Be sure: the metaverse is the future.