Road Town / British Virgin Islands – A metaverse industry report 2022 by GamesPad takes an informative look at emerging business opportunities presented by the metaverse.
“The metaverse is a seamless composite of our physical world melded with the digital. This immersive experience involves the exploration of 3D virtual worlds where people can socialize, shop, and enjoy online entertainment. In a borderless digital world, the metaverse is not singularly owned or belongs to one platform; it is a boundless, user-owned internet economy.” – GamesPad, Metaverse: Emerging Business Opportunities.
The new research report by GamesPad and BullPerks Co-Founders Constantin Kogan and Eran Elhanani overviews business markets emerging in the metaverse and communicates the importance of establishing a metaverse business strategy for companies in the fashion, gaming, real estate, traveling, and other industries.
The research paper by GamesPad overviews over 20 metaverse trends, unique statistics collected from around 1,000 respondents, as well as insights by the top industry experts and thought leaders including:
- Yat Siu (Co-Founder of Animoca Brands)
- Wahid Chammas (Chairman & Co-Founder of Faith Tribe, Co-Owner of Faith Connexion, and Founder & CIO of TyreGate Capital)
- Travis Wu (Founder of Highstreet)
- Brian Hazan (Co-Founder of THE HUSL)
- Philip Devine (Co-Founder of CryptoBlades Kingdoms)
- A. Bahadir Yener (Founder of Metawear)
- Gal Yosef (3D Artist, CEO of Reflection Studios)
- Anastasia Drinevskaya (CEO and Creative Director of Cointelegraph Communications)
- Shawn Mims (American Rapper, Co-Founder of Cre8tor and RecordGram Inc.)
- Warren Parker-Mill (CEO of Fashion Metaverse Club)
- Eathan Janney, Jeff Kelley, and Josh Kriger (Co-Founders of Edge of NFT podcast, Edge of Company, NFT | LA)
- Gary Ongko Putera (CEO and Founder of BOOM Esports)
- Dana Kachan (CMO at GamesPad and BullPerks)
- Petrix Barbosa (Co-Founder of MoonBoots Capital)
The Future of Business in The Metaverse
New possibilities are being unlocked that can create the potential to expand businesses in ways a traditional brick and mortar, or Web 2.0 infrastructure, could never allow. No single vendor would ultimately control the metaverse, and the virtual environment will be device-independent. In fact, the metaverse features an independent virtual economy. In its fullest expression, the metaverse will touch on every important area of our lives, including engagement, community building, self-expression, and commerce. Every area of opportunity presents powerful positions for building out brands and businesses to be successful and at the forefront of this significant digital frontier.
Many companies exploring business opportunities in the metaverse are creating strategies around their core competencies while dipping their toe into metaverse technologies. For example, luxury fashion brands like Balenciaga and Gucci have created clothing lines for avatars and set up digital storefronts in established virtual worlds. Celebrities Ariana Grande and Travis Scott have hosted massive virtual concerts for millions of fans. Travel agencies and hotels are exploring how virtual reality can amplify their sectors, while education utilizes augmented reality and digital classrooms for more immersive learning experiences.
We can also see how metaverse companies are suggesting innovative solutions for traditional industries. For example, Highstreet is transforming retail in the Metaverse by turning department stores around the world like Saks, Selfridges, and Lane Crawford into entry points into Highstreet World. Metawear is changing the fashion industry by creating Metaverse Fashion DOME which is the Metaverse Temple of Top Fashion Designs, where talented global designers, top fashion brands, students, young artists, senior designers, and famous figures meet in one place to create, earn, and market their designs and products.
The HUSL is revolutionizing the music industry by building a global music marketplace in the metaverse that allows individuals around the world to upload their newest music as NFTs.
The gaming sector continues to trailblaze the future of work through GameFi mechanics and the sector’s mass adoption of cryptocurrency and blockchain technology. The ability to disrupt traditional modalities and progress metaverse concepts shows the power and importance of gaming for the future. It’s proven by data by Play-to-Earn NFT game CryptoBlades Kingdoms: since August, their users completed 23,709 battles, trained 4,472,925 units, looted over 313,146,492, and collected more than 1,712,753,259 in wood, stone, and clay, which demonstrates the users’ growing interest in the GameFi space in general.
GamesPad analyzes why this is so crucial in its report by examining the history of gaming, how it is expanding today, and how it will influence all sectors of business in the metaverse in the future. Eventually, the main themes of the metaverse aim to help businesses engage with customers, expand brand awareness, and identify new revenue streams. In addition,
“Metaverse: Emerging Business Opportunities” research helps readers understand these channels more thoroughly.
- This report provides an overview of the metaverse and its converging themes.
- It identifies the key business sectors and how the metaverse will impact their markets.
- It includes an analysis of multiple data sets and highlights important statistics related to the metaverse and business opportunities.
- This report utilizes audience polling to establish the real-time relevance of its findings.
- The detailed findings in this report aim to inspire and inform business owners, entrepreneurs, and enthusiasts about the many opportunities the metaverse presents regarding business strategy and success.
The dynamics of the metaverse are rapidly evolving. While it may appear challenging to implement a business strategy for this emerging landscape, many sectors are primed to capitalize on the metaverse’s special traits.
Through the analysis of the Metaverse: Emerging Business Opportunities report, GamesPad aims to continue conversation and research regarding breakthrough technologies and innovations to draw inferences about the potential adoption process and economic impact of the metaverse.