- 14 October 2022
- Tiffany Carey
What Is the Metaverse and How Does It Help My Small Business?
You’ve heard that “the metaverse” is an incredible opportunity to expand your current small business community or create one. But what exactly is it?
- It’s a shared online space where a combination of virtual reality and mixed reality worlds can be accessed through a browser.
- It allows users to experience real-time human interaction from wherever they are.
- It creates a new global community and economy that users can use to meet people from around the world and even buy and sell virtual goods with real money.
- It’s an incredible opportunity to expand your current small business community or create one.
Users worldwide can tap into your company’s virtual world to engage, learn, and collaborate in the metaverse.
What’s The Difference Between the Internet and the Metaverse?
The primary difference between the internet and the metaverse is that the internet is a 2D platform that allows communication without human interaction. The metaverse is a 3D platform that combines technologies to enable users to feel and interact with others as if they are in the same room.
How Can the Metaverse Help My Small Business?
The metaverse can be harnessed by anyone looking to improve their bottom line or create a better experience for their customers or employees. It is an environment that provides opportunities for small businesses to connect with customers in ways they've never been able to before. Here are a few ways to leverage the metaverse for your small business.
Build a Virtual World for Your Company
Entrepreneurs can use the metaverse to build virtual worlds that expand the reach of their businesses. Creating an online storefront for your business allows you to connect with clients and prospects, host live meetings and webinars, and provide ongoing information about your products or services.
You can create a virtual office space for your employees. It can be accessible from anywhere, allowing employees to interact with each other daily. They can share files, brainstorm ideas, and interact while collaborating on projects.
A virtual reality space for your small business can be used to train your employees. They can practice work assignments in a safe environment while potentially learning faster, more efficiently and with more accuracy than ever before.
Engage the Small Business Community
Users worldwide can tap into your company’s virtual world to engage, learn, and collaborate. For example, The UPS Store, Inc. has created, in collaboration with Inc. and Fast Company, “The Helping You Be Unstoppable Store” inside the metaverse.
Created in Decentraland, a virtual reality platform, “The Helping You Be Unstoppable Store” aims to provide small business owners exclusive content, tips, and advice to help them with their entrepreneurial endeavors. The multi-level experience includes “The Newsstand,” “Be Unstoppable Academy,” and “The Amphitheater.” Each floor offers a virtual “business school” space where visitors can access content, participate in brand-building and marketing courses, and hear from small business experts.
Where Do You Start to Create a Metaverse Marketplace for Your Small Business?
There are four metaverses you can sell in: Horizon World, The Sandbox, Decentraland, and Roblox. You’ll be able to monetize intellectual property and virtual goods. Fashion brands can sell virtual clothing for avatars, real estate investors are buying and selling virtual spaces, and furniture brands are creating showrooms where users can buy furniture.
Don’t Fear the Metaverse
The metaverse is a new frontier, and nearly a third of Americans are more scared about it than excited. But, there are many examples of the metaverse being beneficial for small businesses. Explore its potential for yourself and see how it can help you improve, expand and grow your small business.