Companies from anywhere in the world and any sector can boost their businesses in the metaverse, but do you know how?
Technological advances led us to virtual reality which, due to its integration with the internet, allowed us to create something that was only possible to imagine in fiction movies: the metaverse, which is nothing more than an extension of the real world, where everything that happens here can happen there too, including business — thus, we have the so-called metaverse business.
In this new virtual environment, which is still being built, we have a completely new world outside the physical one. Within it, creativity really is the limit when we talk about metaverse business, as it is possible to profit in different ways, either with advertisements or selling exclusively digital items, such as games, avatars, interfaces, and even digital land.
In this post, we are going to talk about the business opportunities of the metaverse, which is nothing more than the human being's ability to make exchanges and profit adapted to a virtual, immersive environment. Read until the end to learn more about the subject and some of the possibilities it brings us!
How does metaverse business work?
From its conception, the metaverse must be understood as a persistent and shared 3D virtual space linked to a perceived virtual universe. When we talk about metaverse business, we understand that we can carry out monetary transactions within it, using its unique opportunities.
But before thinking about what we can trade within the metaverse, let's first understand how it works. In this shared 3D experience, monetary transactions can be carried out in cryptocurrency, with credit cards, or even through each country’s local payment methods, such as cash-based boleto, a method exclusive — and very popular — to Brazil.
Basically, when a user or company pays for something in the metaverse, some payment integration with the banking or cryptocurrency platform used in the application is required. Now, let's read a little about some opportunities that companies can have when investing in the metaverse business, where creativity is the real limit.
What business opportunities does the metaverse bring?
Companies can explore many forms of business in the business metaverse. Some of them are:
- advertisements within the metaverse;
- sale of unique digital items from the metaverse;
- possibilities related to the augmented reality experience;
- offers of software as a service (Saas);
- sponsorship of metaverse events;
- online games;
- work within the metaverse.
We are now going to discuss these, which are just some of the many possibilities that can be explored in the metaverse business.
How to boost businesses in this digital universe?
Among countless possibilities, let's talk a little about those mentioned above for you to understand some good ideas on how to take advantage of the metaverse to build or expand your business.
Advertisements inside the metaverse
Within the 3D space conceived by the metaverse, several companies are already allocating spaces for the sale of advertising within the cities of the metaverse, which results in the sale of a physical product or a digital product.
The interesting thing about advertising within the metaverse is that it is possible to use augmented reality resources so that the user can try on an accessory or clothing from inside their home before making the purchase. Another advantage is that people in a metaverse are highly digitized, already used to shopping online, which can greatly increase conversion rates.
Metaverse exclusive digital product sales
Everything that exists in the physical world can exist in the metaverse. So, people can buy clothes, cars, houses, land, accessories and much more in the virtual world. There are digital-only cities and economies getting stronger right now, where you can buy a luxury sneaker or be a celebrity’s neighbor.
Sponsorship of digital events
In the shared space experience, several concerts have already been held, and this is a trend that has only to expand and take up more and more space. To give you an idea, there has already been an Ed Sheeran show in Pokemon Go, where those who were online shared the experience of the concert while playing.
There have also been several concerts where people had the opportunity to, inside their homes, watch artists performing their music live from the other side of the planet.
Since its inception, the gaming industry has not stopped growing, and this is not something that will change, especially with the possibility of sharing the 3D plane.
This makes it possible to create unique online gaming user experiences that have never been seen before with the technological resources of previous generations. This has always been a market for innovation and tends to benefit greatly from the expansion and popularization of the metaverse.
Offers of Software as a Service (SaaS)
The strengthening of this business model is a very big reality in Latin America, which is proven by the success of companies that bring to the user a communication aimed at people who are already adapted to the digital environment.
Better rates are also offered compared to traditional services, especially in the banking and payment management sectors, such as Nubank, C6 Bank and PagSeguro. To give you an idea, more than 40% of startups formed in Brazil in 2020 operate with this business model.
Work within the metaverse
Of course, you must imagine that there are programmers being hired to work on the development of the metaverse, but the metaverse also brings possibilities for work in other areas, such as graphic designers, storytellers and even teachers and architects.
Since the metaverse is already a reality and grows more every day, big companies are investing really heavily in it, and new ones are also emerging dedicated exclusively to this market.
It is necessary to ensure the user a secure shopping experience. In Latin America, BoaCompra by PagSeguro is the market leader and provides a secure platform for online payments in major local currencies.
Therefore, to implement secure online payment technologies in your business, count on BoaCompra's technology, because since 2004 we have been providing this type of service for the most different purposes, allowing companies from anywhere in the world to accept more than 140 payment methods and currencies in 17 Latin American countries.
Did you like this article? Then, also read our post on online gaming user experience and learn more about our payment platform and its benefits for the gaming industry! And click below to talk to us and how we can boost your business in Latam: