The metaverse is the art of the inaccessible impossible turning into the accessible possible.
As the technology behind the metaverse continues to evolve, it is becoming clear that it has the potential to be a major business opportunity across a variety of sectors.
One of the key concepts that makes the metaverse an interesting business opportunity is the “Datafication of Everything“ This refers to the trend of turning everything around us into data that can be collected, analysed and used to make decisions. In the metaverse, this data can be used to create more personalized and engaging experiences for users.
Another key concept is “immersive Commerce“ (or iCommerce) which refers to the use of virtual reality, augmented reality, and other immersive technologies to create an engaging and interactive shopping experience for customers. In the metaverse, businesses can create virtual storefronts and product displays that customers can explore and interact with, providing a new level of convenience and flexibility.
The “Infinity Marketing Loop“ is also another important concept to consider. It focuses on the continuous acquisition of new customers and the retention of existing ones. In the metaverse, businesses can use this model to create a cycle of customer acquisition and retention that self-finances and self-sustains, leading to long-term business growth.