Metaverse describes a virtual space where users can interact and create content within a shared digital world. In recent years, the rise of virtual and augmented reality technologies has led to the growth of various Metaverse platforms, providing a new and exciting opportunity for businesses to reach customers and build communities. This article will discuss the biggest Metaverse platforms businesses should know about, access, and use.
What you'll learn 👉
Entering the Metaverse
While we have all heard about the Metaverse, most wonder how to enter it. If you want a clearer picture on how to access the Metaverse, you have plenty of resources to study. In short, people and businesses can enter it through various platforms and technologies, such as virtual reality (VR) and augmented reality (AR) devices, desktop and mobile devices, and web browsers.
There are various ways for people and businesses to access the Metaverse, and the method will depend on the platform and the experience they are looking for. Some platforms may require additional hardware or software, such as VR headsets. Regardless of the method, accessing the Metaverse offers businesses a unique and exciting opportunity to reach customers and build communities in a virtual world.
Top Metaverse Platforms Businesses Should Check Out This Year
According to Gartner, 25% of people will engage in metaverse-related activities for at least an hour daily by 2026. From this perspective, businesses have infinite opportunities to engage with their users there, as the Metaverse is more than just for fun and games. It can disrupt everything we know about work, real estate, sales and services, events, publishing, etc.
So let’s look at some of the most promising Metaverse platforms businesses could use now.
1. Second Life
Second Life is one of the oldest and most well-known Metaverse platforms, established in 2003. It allows users to create virtual representations of themselves (known as avatars) and interact with others in a shared virtual world. Businesses can use Second Life to create virtual stores and showrooms, host events and conferences, and even build entire virtual cities. In Second Life, businesses can showcase their products in a way that traditional websites and brick-and-mortar stores can’t, giving customers a new and unique experience.
2. Roblox
Roblox is one of the most popular multiplayer gaming platforms. It allows users to create and play games, chat with friends, and engage in various activities. Roblox is a perfect place for businesses targeting a younger demographic and provides a great opportunity for marketers to reach this audience through in-game advertising and sponsorships. Roblox is a unique platform, and businesses can reach many young people who spend hours playing and engaging with the platform.
3. Decentraland
Decentraland is a web-based, Ethereum blockchain-based platform for 3D virtual worlds. The platform was developed in 2015. It allows users to generate, experience, and make money for their content and applications.
A decentralized autonomous organization manages Decentraland (DAO). The native cryptocurrency of the DAO, MANA, uses the ERC-20 token standard. Moreover, it is an open platform, meaning anyone can participate and create content, making it a great place for businesses to explore new and innovative ideas. For example, what makes Decentraland special is the ability to own a piece of land, rent it out, construct it, and design homes, pubs, gardens, and parks (among other things).
Furthermore, users can host and attend virtual sporting events or concerts in this virtual world. In conclusion, businesses can use Decentraland to host events, launch new products, and create immersive experiences that can be monetized.
4. Upland
Another play-to-earn game and online real estate marketplace powered by the EOS blockchain is Upland. Players can engage in treasure hunts, socialize, and purchase NFT representations of actual real estate. More importantly, participants can use Tilia Pay, which works with PayPal, to exchange their NFTs for actual money.
Upland wants to build a metaverse equivalent of real-world addresses accessible via the web, iOS, and Android. Creating real-world value and having fun with virtual real estate makes Upland unique. Users can create an empire in a Metaverse mapped to the actual world. Businesses can also easily create homes, shops, and businesses, build cars and advertise in Upland.
5. Panda MR
A relatively new Metaverse platform, Panda MR targets businesses specifically. The major pillars of this universe are:
- virtual business (you can create virtual offices, conduct recruitment, hold corporate meetings, participate in conferences, etc.),
- education (virtual classrooms),
- arts (virtual art exhibitions, auctions, events, etc.),
- and entertainment (concerts, meetups, movie screenings, etc.).
People and brands can access Panda via the web or mobile. Panda MR’s objective is to provide the tools and an environment that will allow each industry to thrive in the Metaverse for a long time.
How the Metaverse Can Help Your Business Thrive This Year
Metaverse platforms offer businesses a wide range of opportunities to reach customers, engage with them, and grow innovatively. Here are some of the key opportunities that businesses can take advantage of in the Metaverse:
- New customer experiences: Metaverse platforms allow businesses to create unique and immersive experiences for customers. It includes virtual showrooms, product demonstrations, and interactive events. By providing customers a new and exciting way to engage with their products and services, brands can keep an edge over their competitors and create a strong image.
- Access to new markets: The Metaverse is a global market accessible to anyone with an internet connection. It allows businesses to reach new customers and markets they may not have been able to reach before.
- Monetization opportunities: Many Metaverse platforms allow businesses to monetize their content and experiences via selling virtual goods and services, hosting paid events, and offering in-game advertising.
- Cost Savings: Running a business in the Metaverse can be more cost-effective than traditional business models. For example, businesses can build virtual offices, host virtual events and conferences, or organize corporate meetings without needing physical space or travel expenses.
- Innovation and experimentation: The Metaverse provides a new and exciting platform for businesses to explore new and innovative ideas. With its virtual and immersive environments, brands can experiment with new technologies and business models without the risk of failure.
The Bottom Line
In conclusion, the Metaverse is rapidly growing. Each platform mentioned above offers unique opportunities for businesses to reach customers and engage with them in a way that is impossible with traditional methods.
However, the Metaverse is still in its early stages. As a result, there are many challenges businesses will face: the cost of creating and maintaining virtual experiences, the lack of standardization, the lack of regularization, cybersecurity, the complexity of the technology, etc.
But despite these challenges, the opportunities the Metaverse provides are too great to ignore. It represents a new and exciting frontier for businesses, and those who embrace it now will likely succeed.
