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What do we mean by the metaverse and can it help your business?

In 2021, David Baszucki, the founder of the $US41 billion gaming platform Roblox, wrote: “The metaverse is arguably as big a shift in online communication as the telephone or the internet.”

Essentially, the metaverse is the internet, but in a 3D, fully immersive form. It is a shared virtual space where you can do almost anything you can do in real life. For those of us running our own businesses, the metaverse presents a new literal dimension to consider. At Unwannawat IT, we believe it’s one we can’t afford to ignore.

What technologies does metaverse involve?

Although the metaverse is still in its infancy, it leverages technologies many people are already familiar with. These include, but are not limited to, virtual 3D avatars, virtual reality, augmented reality, artificial intelligence and dynamic video.

Why are many companies excited about the metaverse?

In 2021,Facebook chief executive Mark Zuckerberg announced the tech giant will shift from being a social media company to becoming “a metaverse company”, functioning in an “embodied internet” that blends real and virtual worlds more than ever before.

For Facebook and other large corporations, determined to embrace the “next big thing” before their competitors, the metaverse is exciting because it presents an opportunity for new markets, new kinds of social network, new consumer electronics and new patents. Watch this video to learn more about Facebook’s metaverse concept.

Should small and medium-sized businesses integrate the metaverse?

Many believe that embracing the metaverse and integrating it into your marketing strategy for the future is key to getting ahead now and keeping your brand relevant.

Here’s how the metaverse can be a golden opportunity to expand your reach:

  • Since Gen Z is the dominant presence in the metaverse so far, as well as the future of the consumer world, metaverse marketing offers businesses a new way to reach this valuable demographic.
  • The metaverse can add a viable new revenue stream to your business’s existing repertoire.
  • Becoming an earlier adopter of metaverse marketing can help you gain an advantage over competitors who aren’t yet ready to take the leap.

How can businesses use the metaverse in marketing strategies?

There are many ways businesses can use the metaverse in marketing strategies.

These include:

  • Embracing native advertising options
  • Look for ways to replicate what is already working for the business
  • Open a dedicated virtual venue

For detailed tips on how your business can use the metaverse in marketing strategies, click here.

Metaverse – a user opportunity of a lifetime?

The metaverse is not only a business opportunity. It also creates major opportunities to greatly increase user engagement.

This is not just interesting for businesses that want to create deeper customer relations and increase revenue. It is of major importance for these customers themselves. Just like in gamelike situations, the metaverse can offer users a completely democratised experience. When these experiences are hosted on the blockchain, it further enhances user agency. Users can take full control of their identities in their own crafted journeys, while at the same time collaborating with other users and interacting with brands.

For example, The Octalysis Group, a global gamification and digital engagement consulting firm, is currently working with a company that is giving its users control of their marketing power. What they do is to create identities of users on the blockchain which gives them power to sell their attention to brands that want to advertise to them directly.

Uwannawat – the best IT services in Mornington

Founded in 2011, Uwannawat IT Mornington offer world-class IT services. Led by highly respected owner and director Graham Reid, our specialist team is committed to delivering innovative IT solutions, backed by excellent client support. There’s no need to have a costly IT department. You can have peace of mind knowing that Uwannawat IT Mornington are here for you.

To find out how we can help your organisation, please call our experienced team on 1300 UWANNA or email us. We operate Victoria wide with clients from Geelong to Ballarat to Kyneton to Whittlesea to Lakes Entrance to McCrea and many points in between.


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