MetaVerse and Creator Economy — A Huge Potential for influencers

If you operate a business in the real world, there’s most likely a way to do it virtually as well. And as we progress toward an immersive multiverse, metaverse as an example, the value of those goods will only go up. The more accessible the product is, the more revenue potential you’ve got.

A virtual product may be an avatar-based replica of a real thing or simply a nonphysical product. While these items aren’t exactly “real” in the sense that we usually think about reality, they are pretty accurate enough for people to spend actual money on them.

What is Metaverse and what are its applications?

Advantages of selling virtual products inside the Metaverse

A Massive Audience

If you’re operating a business looking to make money, the one thing that matters most is getting your product in front of as many people as possible. And on the Internet, there’s no better place than the metaverse.

With VR/AR revenue hitting all-time high, these platforms are likely to become the focal point for e-commerce. This will be bolstered by their innate ability to track user’s actions and behaviors, which can be used to provide targeted ads based on purchasing preferences.

Cheaper Than Traditional Marketing

Advertising in the real world is generally quite expensive. You need billboards, magazine ads, commercials on television; all of this requires a budget that most startups don’t have (and aren’t willing to risk, considering the odds of success are only around 1% according to The 4-Hour Work Week ).

But when it comes to advertising in the metaverse, the sky’s the limit. Spending money on a billboard in your virtual city isn’t that much different from doing it in your real city — but again, you’re limited by how creative you can get. And on top of that, you don’t have to worry about ruining the look and feel of your virtual world with ugly ads — people are used to seeing things like that in their daily lives, but not so much in their virtual ones.

Identity protection

The majority of consumers’ first question about virtual goods is how to keep a product’s value when it can be imitated or counterfeited. When we talk about counterfeiting in the real world, we’re talking about taking an original product and making a copy of it.

This isn’t as much of an issue in the virtual world; the average person, for instance, doesn’t know how to make a 3D model and can’t buy one online — and if they took the time to learn this skill, they probably wouldn’t use it to make a fake Rolex.

But until virtual reality is widespread, you can still protect your jobs by using an avatar representing yourself (or your company) as the seller of products. This helps establish trust with potential buyers — and again, most people won’t know how to go about making that thing look like you anyway.

How to utilize the power of Metaverse?

Sell Virtual Avatars

Many virtual worlds now have a physical avatar presence, giving people a sense of identity in those environments. It’s a basic human need to express oneself through personal style, ranging from changing physical features to clothing and accessories.

Your imagination only limits you. If you want to own a business selling virtual avatars, there are plenty of ways you can go about it. You could sell them as-is, or have people work with you to design their inner avatar using customization tools that are readily available.

Build a 3D Model of Yourself

There are other ways to go about making an avatar that resembles you. One is to use advanced 3D modelling software to create a virtual version of yourself or someone else entirely — all you need is their picture, and you’re good to go.

3D Modeling is already big business, with companies offering to take a 3D scan of your body and turn you into anything from a tiny figurine to an entire lifesize replica. ‘Avatar’ by James Cameroon, who knows might have started with the idea of a metaverse.

Rework Content

Hundreds of 2D avatar and profile picture projects compete to stand out in an increasingly crowded market. Many businesses are opting to provide 3D figures for use in one or more virtual worlds or games, giving their holders additional value and allowing them to participate as a community. Artists are required to take inspiration from 2D character photos and create traditional or voxel-style 3D versions as well as animations inspired by those images.

MetaVerse — A future lies ahead

The Metaverse, as a whole, is one of the most exciting and unexplored technologies in our society today. The possibilities may seem endless, with so many creative types trying to push the boundaries of what can be created using virtual tools.

If you’re not sure where to start when utilizing this tool for your own business, finding a way to sell digital goods is definitely the best option. The Metaverse will open a world of opportunity to anyone willing to learn how to control it — and for many organizations, it might be a way to stay afloat in this ever-changing business world.

Companies have been doing business on the internet for years now, but virtual worlds are just starting to become accessible at a consumer level. The Metaverse is much like the internet before the World Wide Web existed: people knew it was important, but they didn’t know what to do with it yet.

Discover our project Dual Cityzen, a powerful community framework for influencers.