The metaverse is widely considered to be the next step in online interaction and virtual reality (VR). Meetings in VR and augmented reality (AR), shopping, and even travel will all be possible, but not without Web3. Ownership of online data and content gives the consumer more power than ever. For businesses, the metaverse and Web3 are being combined to provide endless opportunities. Mozverse is a company that helps businesses navigate their journey into adopting web3 and the metaverse.
What is Web3?
Web3, a term first coined by Ethereum co-founder Gavin Woods in 2014, is the third generation of the web. The concept of Web3 seeks to empower users by allowing them to directly take ownership over their online data, content, and interactions. Users can then access low-barrier, censorship resistant markets to monetize their content and data, should they choose to do so. This gives users an alternative to the freemium model wherein social media companies provide free services in exchange for selling their users’ data.
What is the Metaverse?
With Mark Zuckerberg announcing Facebook’s brand change to Meta in 2021, the term “metaverse” has become synonymous with Facebook in some circles. The metaverse is much bigger than any one company, even one as large as Facebook. But they have brought a lot of attention and buzz to the word. There is a misconception that the metaverse has to do with being immersed in VR. While this is certainly an aspect for the future, the attraction of the metaverse is the ability for both individuals and businesses to monetize property, data, content, and everything in between. This applies to VR, AR, and yes, physical reality too.
The metaverse is a new and liberating form of the internet for users to express themselves as they want and connect with anything and anyone. For businesses, it provides opportunities to market, sell to, and be in contact with their consumers in ways that were previously unavailable.
What Benefits Are There for Businesses in the Metaverse?
The video game and fashion sectors are already gaining steam in the metaverse and utilizing its opportunities. Ralph Lauren, Gucci, Balenciaga, and Roblox amongst other brands are grasping opportunities within the metaverse to maximize business potential. There are opportunities for every sector within the metaverse, not just gaming and fashion. Here are some benefits businesses and brands stand to gain by entering the metaverse:
- Virtual Sponsored Events – Events like fashion weeks, runway shows, and art exhibitions are an easy feat to achieve with the metaverse. It saves cost, curbs time-wasting, and reduces planning efforts.
- Virtual Shopping – Businesses can set up a store within a virtual setting and sell goods, create virtual shopping experiences, and let consumers pay in a variety of currencies.
- Virtual Land/Real Estate – Businesses can buy virtual land or real estate and use it for advertising, whether their own or as a broker for other businesses. Individuals who are exploring that virtual reality are then exposed to the ad.
- Gamification – Play-to-earn gaming allows brands to incentivize users for playing their game and give users ownership over the assets (NFTs) they buy/earn in game. Brands can allow users to sell those NFTs and take a cut for subsequent sales.
- Marketplaces – There are opportunities for businesses to sell almost anything in the metaverse. User data, artwork, sports highlights, digital trading cards, videos, memes, music, and more can be monetized and sold.
What Mozverse Offers Businesses
Technology entrepreneur, Danny Mozlin, founded Mozverse with a vision for achieving a more virtual society due to the pandemic. Danny saw that the pandemic had set limitations to major business sectors and they were forced to adapt to virtual settings.
Mozverse was created to be a leading platform to help brands and businesses walk through the process of getting immersed in the virtual world. They aim to maximize Web3, NFT, and metaverse opportunities and provide businesses with a seamless experience of creating their own offering of digital assets.Using Mozerverse’s toolset, businesses can set up royalty payment distribution, generate unlockable content, and mint NFTs gas free. Mozverse is also helping businesses contribute to virtual worlds and set up shop in the metaverse.
Mozverse believes in equal opportunities for all brands and that no one entity or group of entities should pilot the metaverse. They are constructing specific technologies and tools to power the aim of achieving an autonomous and open metaverse.