Article

Ishan Gupta
Ishan Gupta 27 January 2022

How Can Brands Build a New World in Metaverse?

Metaverse is a new door for brands. New technology always requires a curious approach, but brands should follow a few guidelines: pick your targets, watch what the competition is doing, look for new applications, plan your entrance, and keep your balance.

Metaverse - a new digital, virtual universe that is stealing the limelight and breaking the internet with its curious vision to empower the world with the technicality of the virtual world. We have entered the era of a virtual world where our virtual and physical realities meet in a new digital world termed Metaverse.

The recent announcement from Facebook’s corner of changing its brand name to Meta reflects new opportunities in the virtual space. Zuckerberg said, “It is time for us to adopt a new company brand to encompass everything that we do, to reflect who we are and what we hope to build”.

Metaverse is almost here - various brands have shifted and turned their services operable in the new universe - Metaverse.

H&M, Zara, and a few other online clothing giants have acknowledged the power of Metaverse and launched their 3D stores to provide the complete virtual view of their products so that the user can find it more realistic while trying, selecting, and buying any article.

While many brands have moved to enter into this new metaverse, some are still figuring out about this new catchphrase and googling about its benefits and consequences.

Stating about Metaverse

Well, Metaverse is not hype but the most simple terminology to grasp. The very basic idea of launching Metaverse is providing the virtual universe. Metaverse includes digital experience on the internet that is mesmerizing, persistent, and three-dimensional (3D) and, most importantly, Virtual as it is not happening in the physical world.

Isn’t it exciting?

The new universe - Metaverse offers a new experience of experiencing things in a different and mesmerizing way. It offers the opportunity to feel, play, work, connect, buy and do various tasks in a fun and interactive manner.

This has opened the door of new experiences that brands and businesses can provide their users and expand their user base via giving them the most exciting way to avail the services because metaverse is an acknowledgment on we are entering into a more substantive, immersive landscape.

Metaverse is Opening New Doors for Brands

Various businesses are already heading towards adopting this new landscape that is falling in entertainment, gaming, and e-commerce categories. Many gaming consoles such as Fortnite from Epic Games, Pokemon have entered into the new world of providing things and experiences virtually.

Powered with the latest technologies AR, VR, and 3D reconstruction, Metaverse is opening new doors of mesmerizing experiences for brands, businesses of multiple industries.

Various brands falling from diverse industries could reap benefits of Metaverse and tenfold their growth bars.

Ecommerce Industry

The increased shift of users towards ecommerce has given rise to launching various ecommerce platforms and ecommerce app development. The pandemic has accelerated this shift as people find online shopping easier, safer, and more convenient.

Now the new term launched into the sector of ecommerce, i.e. Metaverse, which is now opening the doors of new experiences.

How?

It has been recorded that Google reported 66% of people are keen on using AR when they shop.

Shopify states that products that utilized 3D and AR technology led to a 94% higher conversion rate.

The mentioned interest reveals that the entrance of ecommerce brands into the Metaverse could reap various benefits.

Luxury clothing brands can implement this new digitalized technology into their business. They can design virtual fitting rooms or other digitalized services where users can feel, try or shop the clothes with a real feel. A US brand embraces virtual ecommerce and recorded tangible progress. Thus, the Metaverse has a lot of benefits in their bags for ecommerce.

Healthcare Industry

The Healthcare industry has been entailing physical interaction for many years between patients and doctors to reactive a treatment, diagnosis, or another care. This has changed on a fewer aspect after the launch of the Telehealth system- where patient and healthcare instructors could connect through digital mediums to deliver and receive medical care. And now, the Metaverse is here.

Technologies like AR, VR, and 3D can redefine the healthcare system with the power of a new-age experience. Metaverse will redefine the healthcare system as various healthcare institutions can use this technology to digitalize their process.

Brands in the Healthcare system can use metaverse to augment the telemedicine experience through AR/VR or make other medical experiences more patient-friendly, convenient, and safe.

E-learning Industry

The educational industry has seen a drastic acceleration after including e-learning and apps. Learning became thoughtful and conceptualized after this mind-blowing inclusion. Students and teachers would have started finding e-learning more convenient.

The Metaverse has launched, and it is opening new doors for the students, tutors, and other educational entities. Through AR, VR learning will become more joyful and interactive as the people would find it more impressive while learning.

Gaming Industry

The gaming market is expected to grow to $268.8 billion by 2025 globally. Being the most interactive and engaging sector, people are fond of gaming and enthralling experiences. Though the industry is exciting and recording various perks, Metaverse has arrived and opened the broader doors for this industry.

The buzz of Metaverse is growing in the gaming industry. Metaverse will accelerate the growth of the gaming industry as the new users would be keen to experience the new world of gaming. The gaming world would experience a new buzz after the inclusion of Metaverse. Users would find it more engaging while interacting with the games.

Conclusion

Metaverse is opening the doors for various industries and brands. Many have adopted this, and many are still figuring out the benefits of Metaverse. Here we have mentioned several industries that could reap the benefits from the new universe- Metaverse.

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