Nadja Atwal is a NY based PR expert, Author, TV Commentator and Co-Founder of Eyetencity.
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Why it makes sense for companies not to wait to engage.
As we are transitioning more and more from web 2 into web 3 I have been looking for the appealing business solutions the metaverse provides while others simply love the idea of giant online playground where you can do anything you want, from playing games and shopping to attending concerts and exploring new places.
When it comes to businesses and the metaverse, experts like Kate Hancock, CEO of Metaverse XYZ, serves confidence with a side of urgency.
“As technology advances so quickly it can be tough for businesses to keep up. Many times they do not adapt and eventually have to close or don’t reach their full potential. We are at a place in the time right now where we are early to the evolution of the internet and we can all get on board.”
Asking Hancock for a spontaneous answer to where she sees web 3 being a game changing, imminent problem solver, she says:
“The term web3 normally encompasses many different technologies and one of those is blockchain. The simplest worldwide forms of use cases for web3 are updating reward systems and ticketing in order to provide a better user experience and keep customers happier. ”
It’s comforting to know that Web 3 experts and companies are on a mission to ensure the metaverse is accessible to everyone that wants it by delivering literally the right tools; like Web 3 thought leader Zach Hirsch who offers – via his company Mozverse – a toolkit not just for start ups but also for small and medium companies that gives the interested entity everything needed to help build their own new Web3 ecosystem.
‘Do it yourself – but just do it’ Is the name of the game.
According to Mc Kinsey not only were consumers and investors enthusiastic about the metaverse in 2022, but almost 2/3 of businesses that were aware of the metaverse adopted to it already then.
The question deriving from this is : how long till companies that don’t engage are not competitive in their market anymore?
After all there was a point in time when a serious business could no longer survive without a website and an email address.
I myself wanted to use the 4 pillars of the metaverse –
Augmented reality (AR), virtual reality (VR), artificial intelligence (AI), and the Internet of Things (IoT) – to deliver not just entertainment but problem-solving services to people and businesses. When we launched, it surprised me how we did not even have to reach out to costumers, but they reached out to us.
When one of the videos (showing a luxury 500 square meter apartment) hit over 32k views without any marketing push and the serious professional inquiries simply followed organically I still was a bit surprised. That was when I remembered what the Mc Kinsey’s research showed : the Web 3 costumers were already there – very ready to engage and spend .
But let’s zoom in on a concrete industry and lay out how the metaverse can improve business there.
One of the high demand sectors the Metaverse supports is real estate. Here it can provide real game changers, from saving big on rendering costs to creating virtual property tours that offer a more immersive experience than traditional photographs or videos.
Potential buyers can explore the property from the comfort of their own home and get a better sense of the space and layout. Buildings and their surroundings can can be displayed in a stunningly realistic way that attracts buyers easily before construction even begins.
Real estate agents can create customized property experiences, and show clients for example how rooms would look in various styles and colours. The metaverse can also provide real estate businesses with a wider reach by allowing them to showcase their properties to a global audience. This can be especially beneficial for luxury properties or properties in remote locations, where it may be difficult for potential buyers to visit in person. Again the cost saving aspect is equally intriguing.
The need for physical showings and travel becomes obsolete and this can be especially beneficial for developers or agents selling properties in multiple locations. Both sellers and buyers win.
And this leads me to a simple overall conclusion: where solutions show, demand will flow….