Metaverse Business Potential

The metaverse has been in the news a lot lately, but which business sectors stand to do well out of it? Here are some of the industries eyeing up potential profits in the nascent metaverse.

Online Casinos

Online casinos are already highly successful, and if the metaverse does take off it would be astonishing if betting sites did not jump in on the act. The enhanced use of VR technology in the metaverse would dovetail neatly with casino games such as playing blackjack, poker, and roulette, and the sector has always been keen to take advantage of new technological developments, from streaming live tables to making slots and other games fully compatible with mobile platforms. Gamers in the metaverse will also be able to take advantage of various promotions such as no deposit casino bonuses. There are a huge number of these free spins and free cash special offers, and they can be found easily by making use of Nodepositdaddy’s research to quickly pick the best deals.

Retail

Shopping is one of the biggest parts of the regular internet and it would be amazing if this were not the case for the metaverse too. Alongside chatting with friends, retail is the other very obvious area for immediate growth in the shared online worlds. There may be some significant differences to the regular internet, however, as NFTs (non-fungible tokens) and cryptocurrency are the financial mainstay of the metaverse. But with the likes of Walmart and Nike already showing substantial interest, the latter with NFTs for wearable trainers for avatars, you can be sure that shops are going to be one of the biggest growth sectors for the metaverse.

The Biometric Concern 

It’s only fair to point out that there are some concerns about the metaverse as well as hubbub and excitement. One of the biggest causes of anxiety right now is that VR is actually a two-way street, and many are worried that biometric information(with companies tracking gaze and emotions) could be a real problem. The level of national and international regulation remains to be seen, but many are wary given the track record of certain companies when it comes to users’ information.

Social Media

Ok, no prizes for guessing this one given Facebook renamed itself Meta and has largely been driving the agenda in the media when it comes to raising the profile of the metaverse. Socializing online has changed significantly over the years, and while forum sites still exist they are now minnows compared to the big beasts of social media such as Twitter, Instagram, and Facebook. But the fading away of MySpace, the predecessor to Facebook, has made even these giants acutely aware of the risk of getting left behind as technology and trends change, which is one reason Facebook has been making the running on the metaverse.

With a strong focus on VR (virtual reality), the possibilities for a more immediate and realistic form of social interaction are obvious and the first social media giant to crack this will have a huge share of the burgeoning market. Facebook’s interest, via its Oculus headsets, fits in perfectly with the social media behemoth’s metaverse prospects.

Real Estate

Perhaps the least obvious of all the industries contemplating possible growth by investing in the metaverse is the real estate sector. After all, brick-and-mortar buildings are about as real life and far away from a virtual world as you can get. Right? Well, surprisingly no.

Both Sandbox and Decentraland are metaverses already selling virtual real estate, which can see users paying a premium to have celebrity neighbors. And it matters for businesses too, as areas with high virtual footfall will make it easier to benefit from passing trade.

Education

The educational possibilities of advancing technology have been a mixed bag over the years. Online connectivity makes it very easy to get distracted with video games and cat memes, although the likes of Wikipedia have also provided a bundle of free and (mostly) accurate information for enquiring minds.

The metaverse does open up some intriguing new learning opportunities for students via the medium of VR. This allows wearers to be taken to alien worlds, including the planets and moons of our own solar system which cannot be explored any other way. Or to walk upon the bed of the ocean floor where few people have ever been, venturing down the magma channels of volcanoes, or wandering through ancient Pompeii just before Vesuvius erupts. This enhanced immediacy allows distant and dangerous environments to be visited by students in a way that was hitherto possible only in science fiction and may prove especially helpful for intelligent learners who are less than keen on reading. 

From gaming and retail to socializing, there’s a lot of excitement around the metaverse, although the degree to which the above industries benefit will largely be determined by whether the metaverse really does become the next big thing or if it tries and fails.