There have been a lot of technological advancements in recent years, with blockchain technology being the latest one. It has evolved so much that Bitcoin, Ethereum, CryptoPunks, and OpenSea have attained legendary status among the community. Now, it’s time for metaverses to become business pathways, and metaverse development has achieved a respectable position among entrepreneurs. Novel ideas have been flowing from around everywhere relating to creating and managing projects related to platforms powered by AR, VR, AI, and blockchains. Here, we outline the top metaverse venture models one can adopt this year to reap huge fortunes easily.
As an early adopter of new-gen technologies, gaming has not let go of metaverse development, and platforms based on this Web3 element are already popular. As an industry, video gaming is projected to evolve to appeal to the gamer end by offering players the scope to earn passive income.
While the Play-to-Earn (P2E) model based on blockchains has already accomplished that, metaverse technology could concentrate on providing authentic and immersive gaming experiences accessible across devices. The Move-to-Earn (M2E) model is expected to have some traction this year. With so many niches, the gaming sector offers a lucrative business opportunity.
As a domain associated primarily with brands in today’s circumstances, metaverse development for eCommerce will aid entrepreneurs in launching their virtual stores. These stores can offer exquisite shopping experiences for customers. When supplemented with real-world utilities through redemption and memberships, it could become the base for phygital shopping experiences.
Ventures related to fashion, consumer electronics, communication, sporting goods, and furnishing can already be seen in the virtual world, with more industries expected to get on board this year. With the internet becoming more accessible across the globe, metaverse-based eCommerce will become more widely available for enterprises focusing on Web3 technology.
3. Virtual Real Estate
Perhaps a lucrative metaverse development opportunity, virtual real estate has been a great option as investments and business opportunities across the years. Platforms such as Decentraland, The Sandbox, Otherside, and CryptoVoxels have been famous for metaverse real estate. An entrepreneur can either invest in plots in one of these applications or create their own virtual world.
These plots can be utilized by entrepreneurs by renting to fellow startups or building their own ventures based on another business model. They can also serve as long-term speculative investments or fundraising elements through one of the initial crypto offering models (ICO/IEO/IDO) for your futuristic metaverse project.
4. Event Spaces
Metaverse event spaces have been a recent sensation in the Web3 realm as events are becoming virtualized. While crypto payments and NFT tickets have given signs of optimism in the event management industry, virtual event spaces have taken things to another level with the ability to reach people across the world.
From a business perspective, event spaces can be helpful in many ways, as customization becomes easier to adjust to client needs, and global reach is guaranteed anytime. It’s all dependent on how well you make use of the following Web3 elements – Virtual Reality, Augmented Reality, Artificial Intelligence, and blockchains.
The evolution of E-learning powered by metaverse development has been at massive levels, partially due to the global pandemic that restricted the physical movement of people. The notorieties associated with Web2 learning tools and platforms have necessitated the need for Web3 elements to be used in the education sector.
Immersive learning applications can work big-time among students, as they can aid in increasing their understanding levels effortlessly. Also, real-world concepts can be taught easily to students through XR-powered platforms, with the capability to conduct tests virtually, saving lots of resources on conducting real-world examinations. NFT certifications can be a possibility too.
Why Choose Our Team for Your Metaverse Development Needs?
At CES, we are a team of experts well-versed in metaverse development, with the capabilities to launch innovative applications based on various models, including the ones above. If you’re interested in delving properly into the metaverse as a business, 2023 could be the ideal time to kickstart, as recent trends have been encouraging. Contact our professionals today to sketch an action plan based on your novel virtual world-based business model.
“Metaverse isn’t a thing a company builds. It’s the next chapter of the internet overall.” – Mark Zuckerberg.