In Simple words, the possibility with the Metaverse is endless. As Metaverse is starting to incorporate Web3 enabled through blockchain technology, the future Metaverse would be something remarkably similar to our real world in many aspects and even replace some real-world activities.
The morning commute and working in a cubical might be a thing of the past. The Metaverse is on the brink of bringing forth a new era and is set to change companies globally.
Commuting to work daily is a struggle and time-consuming for many. Others might experience lousy work environments due to discrimination or bullying at the workplace. The solution to some of these issues might already be there as we reduce the physical discomfort.
There is a perfect example if someone misses an important meeting, and the meeting is halfway through. The video recording is played,and the video then cuts to the meeting, where the person appears in a Hologram. And can make eye contact with colleagues who are physically there, they’re all able to hear the discussion, and they can see floating text hovering. It seems fantastic and even a possibility in the future one.
What exactly is the Metaverse?
To put it in simple terms, it’s a 3D virtual world focusing on social connection and interaction. Shopify has recently reported that the conversion rate is lifted by 60% when buyers interact with videos. However, things work differently in Metaverse, where a 3D avatar replicates real life, and 3D goods are way forward.
It’s possible that a new digital environment could be the future of work. People can now do their work entirely digitally and connect with co-workers and customers, all without being physically present.
Businesses are marketing their brands in the Metaverse.
Major companies are also starting to take baby steps into a new breed of marketing. Brands that have existed for decades are beginning to look towards the Metaverse and realize the extent of an impact it can have on promotion.
More prominent brands often find the Metaverse interesting through user-generated content that can be used actively as a marketing strategy. The personalization of marketing Brands can host virtual events where customers can purchase products and even receive rewards/reward points. Metaverse has introduced a new way for brands to connect with customers, allowing them to play a more significant role.
During the past years, Adidas, Nike, Dolce & Gabbana, and other well-known brands dipped their toes into this new venture. Many of these brands have even sold NFTs made in partnership with some of the most prominent blockchains today.
Mckinsey’s Next in personalization 2021 report says customers’ demand for improved experiences has increased in the past two years. According to the same study, 76% of consumers feel frustrated when brands do not provide personalized interactions.
Metaverse will change the way we work.
Understanding the Metaverse is a bit tricky for newcomers, especially when some may consider it to be future work. As the Metaverse is shaping up to be a new work tool that we will use for many years, global workers will likely have to adapt to the concept in years to come.
To make it a little more specific, here’s a brief list of how Metaverse will change how we all work.
- The possibility to stay anonymous and focus on one’s “work” and not “them.”
One of the biggest perks of the Metaverse is that it’s possible to stay completely anonymous. It means hiring people, concentrating on the individual’s work and not necessarily the person behind the scenes. It can help potentially reduce discrimination while hiring individuals, as people are only judged on their specific work when hired anonymously. - Work from anywhere in the world
Working in the Metaverse also means that people can work completely remote, from anywhere in the world. It will mainly require an internet connection, meaning people can work on the go and achieve more flexible working hours. - Run decentralized businesses and have meetings in 3D
For businesses, the Metaverse allows for a completely decentralized business model. Please consider decentralized autonomous organizations (DAOs), which hire people to work for them through decentralized means.
The benefits of DAOs have proven to be an essential foundation structure that allows communities to influence a project. No more a small group of select people will make the significant decisions as observed in most global organizations today. Instead, the whole community influence the direction the project is moving.
The Metaverse is continuously developing, and people are constantly finding new ways to make it more useful. Not only for online fun but now also to be part of the day-to-day life of organizations.
Quite possible that the company meetings in coming years will take place through VR headsets in a virtual board room. Big companies, for example, META and Microsoft, have already started experimenting with meeting rooms like these, where people related to projects from all over the globe can collaborate in real-time.