The metaverse and web3 technologies offer new and exciting ways for companies across a wide variety of sectors to improve their products, services, and operations. From VR and AR to transforming traditional online meetings, the possibilities are endless.
Read on to find out how your organization can take advantage of metaverse and web3 opportunities to stand out in your industry and delight your customers.
Reimagining Products and Services
Augmenting existing products and services
You can use future internet technology to augment your existing products and services and make them more immersive.
Auto manufacturers are already augmenting their cars with AR and VR technology. In some vehicles, drivers experience enhanced navigation by viewing superimposed arrows on their image of the road. With their Holoride technology, Audi is also working on combining VR with real-world vehicle data to create immersive gaming experiences for passengers.
Companies are also augmenting their physical products with web3 tech. SPIN, the popular music magazine, offers its iconic covers and other art assets as collectible NFTs.
Creating new products and services
In my new book, The Future Internet, I give many examples of how companies are creating new products and services with the future internet in mind. Can your business follow their lead and create new products and services designed for the metaverse and web3 era?
Fortnite has led the way in creating new metaverse products by capitalizing on the next generation’s desire to spend real money on products that don’t exist in the physical world. Close to 70% of Fortnite players invest in in-game purchases like outfits, dance moves for characters, and accessories.
Beer brand Stella Artois has partnered with the blockchain-based virtual horse racing game Zed Run to create 50 digital horses that players can collect, breed, train, and race.
The metaverse gold rush: Designing support tools and services for the future internet
With so many companies looking to create new metaverse and web3 products, there’s also an enormous opportunity for businesses to provide infrastructure and tools that enable other businesses to succeed.
The key to success with metaverse and web3 support is staying up-to-date on the latest developments and offering high-quality, user-friendly products and services that make it easy for companies to adapt and thrive in the future internet.
For example, NVIDIA — a company that initially powered video game graphics — has evolved its offerings and now provides Omniverse cloud services that enable teams to design metaverse applications.
Matterport uses 3D and 360-degree cameras to design digital twins of real-world spaces. Companies can use Matterport’s tools to create accurate virtual models of places like offices, stores, or even entire buildings. This technology empowers hotels and real estate companies to deliver immersive experiences to their prospects and customers.
Transforming Business Operations
Companies can evolve their business operations by using metaverse and web3 technologies to streamline processes, reduce costs, increase efficiency, and provide a better customer experience.
Marketing and selling your products
Many brands are finding new ways of engaging with customers using metaverse and web3 technology, and now is the perfect time to experiment with innovative ways of advertising and marketing your products.
Looking for a place to start? Consider investing in a way that lets customers virtually try out your product, like an AR feature that digitally places a 3D rendering of a product in a customer’s home.
Warby Parker, the eyewear company, has a great virtual try-on application that allows customers to shop online and see how different frames will look on their faces. You can also consider creating immersive virtual showrooms that customers can visit, or find ways to use the metaverse as a way for customers to carry out transactions.
Upleveling remote meetings
Companies can improve meetings and collaboration using metaverse technology by creating virtual environments where teams can gather, interact, and work together in real-time. In these environments, team members can use avatars to represent themselves and interact in immersive coworking environments.
Using VR, your company can improve on existing 2D meeting platforms by creating new ways for employees to explore complex data, collaborate in real-time, and work together from anywhere in the world.
Fujitsu has a new “co-creation metaverse” called CX Lab, and with Proto M’s holographic device, you can beam a full-body hologram of yourself into real-time meetings.
The existing meeting platform Zoom has already added a 3D virtual avatar feature that mimics facial expressions and head movements during meetings.
Enhancing HR processes
Your company can also use the latest metaverse tech to improve key HR processes like recruitment, hiring, onboarding, and training.
BBH Singapore recently recreated its real-world office virtually and hosted an open-house career fair that gave candidates a sense of what it would be like to work for the company.
Meanwhile, Accenture is onboarding 150,000 new hires in the metaverse. New hires put on VR headsets on their first day and visit a training session on the Nth Floor, the company’s metaverse environment.
To Sum Up
Metaverse and web3 technology offer companies a wide variety of opportunities to improve their products, services, and operations. By leveraging these innovative technologies, companies can create more engaging, interactive, and personalized experiences for their customers while also streamlining their internal processes and reducing costs.
Companies that take advantage of these cutting-edge technologies will be able to stay ahead of the curve, gain a competitive edge, and ultimately succeed in the rapidly evolving business landscape.
To stay on top of the latest on new and emerging business and tech trends, make sure to subscribe to my newsletter, follow me on Twitter, LinkedIn, and YouTube, and check out my books, Future Skills: The 20 Skills and Competencies Everyone Needs to Succeed in a Digital World and The Future Internet: How the Metaverse, Web 3.0, and Blockchain Will Transform Business and Society.