Every brand wants to capitalize on the metaverse hype. Companies are actively adopting all virtual world capabilities to provide entertaining experiences for users.
Sotheby’s has launched a virtual gallery called “Sotheby’s Metaverse,” allowing users to view digital art, learn about other artists, and even connect with collectors. Through the sale of NFTs, the company has already earned over $17.1 million.
However, this is not the end. Metaverse capabilities can be increased to improve the financial aspects of brands. It is crucial to have a tangible method of creating a business metaverse concept and its development structure.
Entrepreneur, Technology Evangelist and Business Strategist. Visartech Inc. is the Software Product Development Agency.
Every brand wants to capitalize on the metaverse hype. Companies are actively adopting all virtual world capabilities to provide entertaining experiences for users.
Sotheby’s has launched a virtual gallery called “Sotheby’s Metaverse,” allowing users to view digital art, learn about other artists, and even connect with collectors. Through the sale of NFTs, the company has already earned over $17.1 million.
However, this is not the end. Metaverse capabilities can be increased to improve the financial aspects of brands. It is crucial to have a tangible method of creating a business metaverse concept and its development structure.
The Core Elements of Business Metaverse Architecture
The entire metaverse structure is shaped by the technologies used to develop virtual space. The smart creation of a business solution may require the right tech stack.
It is a good idea to create a custom business metaverse that matches a company’s objectives.
A few elements make up the basic framework of the metaverse. These elements include:
- User Experience
- Access and Interface
- Virtualization Engines
- Infrastructure
Virtualization engines are the central component. This layer supplies computing power, generates virtual assets, and virtualizes the human identity.
What are the key elements that drive virtualization engines in the metaverse?
Cloud Infrastructures and Databases
A metaverse solution needs the most powerful and steady computing power to be connected to the internet. This could be achieved by combining cloud, edge, and blockchain computing.
Simulating processing does not take place on local devices. It takes place in the cloud, such as AWS, Microsoft Azure, or Google Cloud Platform. Edge computing providers such as Edgegap provide a distributed infrastructure and high-speed networks that allow data centers to be more accessible to users. Technologies such as DynamoDB and Firebase keep data flexible, with stable authentication processes, password saving, and secure storage. The use of blockchain also helps to keep the product fast and scalable.
Programming engines
These engines enable businesses to apply gaming mechanics to their products quickly. These engines provide positive experiences and the necessary interactions in an in-game environment for end-users.
They can interpret the outside and inside worlds (geospatial maps), display geometry and animation, and integrate data from devices or biometrics. These interactions can be implemented using Unity, PlayCanvas, and Sandbox VR.
Digital Assets
Users need to be able to interact fully with the brand’s metaverse environment. This includes digital goods and their identity. This is done through virtual avatars and assets, such as NFTs or virtual lands.
Unity Terrain is a great tool to help you create these 3D characters. WebGL allows you to modify an entire structure. This results in more complex objects, less pixelation, and better performance.
These key building blocks will help a company get closer to creating a smart metaverse that suits its needs. However, the idea can vary depending on the industry.
How companies can make smart metaverse moves in different industries
Brands can transform their products and services with state-of-the-art technologies. The metaverse is no exception. Virtual worlds are not of high value unless they contain smart concepts and an appealing internal structure.
Success is more likely when a company has the right approach to creating its business metaverse. The metaverse should not be viewed as a way to make the product or service more enjoyable but rather as a solution. It can also be beneficial to both brands and users.
Virtual worlds can be used in different industries for new ways to deliver brands’ services.
Ed Tech
Many e-learning companies are looking for new ways to bring Education into the digital age. This is why it’s important to keep up with the metaverse trend.
Tomorrow’s Education, an EdTech company, has taken advantage of the metaverse opportunities and launched a master’s degree program in immersive virtual spaces. This metaverse program is flexible and allows students to interact with one another on a virtual campus and attend lectures online.
The metaverse can be used to enhance the education industry’s potential. Companies can expand their services by creating a private metaverse branch to their educational platform. This will allow them to create an immersive digital world.
Fin Tech
There are many divergent views about metaverse capabilities in FinTech. In reality, however, there are many smart options in financial services. For example, a virtual city where customers can interact with the company’s products. One FinTech metaverse platform could have business centers, telecom centers, and recreation areas.
A smart portfolio for investors is another possible business metaverse solution to FinTech. MetaverseLife is a long-term investment platform that exposes investors to stocks and crypto-assets. It was created by eToro, a brokerage firm. People can also interact with each other.
Event Tech
Many believe that permanent virtual meetings and events will be a part of the near future. Companies should therefore consider launching an intelligent business metaverse, which includes enhanced and engaging features and the ability to appear online.
They could, for example, create a separate virtual platform to organize business events, corporate meetings, and networking conferences. This metaverse solution has the advantage of allowing unlimited guests.
Brands have all the tools to enter the metaverse market and raise their products and services.
The metaverse offers many opportunities that can transform everything, from EdTech and FinTech to the event industry and more. Your blueprint should include the correct technologies and a well-thought-out idea for a business in the metaverse.
